Topic: KYC in crypto, does it really require? - page 40. (Read 5463 times)
I am not a fan of KYC when it comes to bounties or airdrops. I have joined multiple airdrops and they have been bombarding my email with notifications and updates about new airdrop. While only a few of them are legit, they were using my email just to spread news and it can be annoying at times. For bounties, it lengthen the process of distribution resulting to delays in listing the coin to an exchange.
there is any reason why a project needs kyc because that is a rule and we must obey it. as a bounty hunter and investor, we definitely want a good and safe project. as well as a project, they want security and justice in a rule. therefore, we must obey it well.
In ICO's the word KYC has been something hectic in the world of crypto. But to me, KYC is the best way to make a project successful and I think all ICO's can take that into consideration.
I have a good view if kyc in crypto is needed, but I think kyc is suitable only for investors because the coins for investors are huge. so kyc is needed to avoid cheating on crypto usage.
KYC's during in ICO's or during ICO's to me I think it really matters because I have joined series of bounties which required KYC and it has been successful so I think it really matters.
Some ICO's require KYC for legal purposes. But for airdrops or bounties, it is mainly done to weed out those who are trying to cheat the system.
They are doing this so they can control the people people investing in their projects as some countries don't allow just anybody to be a crypto investor... You have the be cleared legally to be one. So with the help of Kyc, projects can get themselves out trouble... Its sad though that fake projects now asks for Kyc and who knows what they want to do with people projects.
Do we really need to submit our personal details to ICOs for buying the token or for participating in it's bounty and airdrop?
I always wonder why do we need to give our vital info to ICOs that most are not even likely to come on in crypto space and crypto is all about decentralization but submitting our info has made it look centralized to me.
There is no regulation in crypto yet so why should we give our details to unknow ico organizers, so claim to prevent some region in participating in the ico because of the country law but those ICOs comes from the same region and country that prevent their own citizen from participating, should we say they are using style to rob us or our details is being used for other purpose .
I think it's high time we all need to stop giving our details to ICOs if really the crypto is all about decentralized and their is no regulation in the world yet to really require such details, I will like to know everyone minds about the submission of our details in term of KYC .
I always wonder why do we need to give our vital info to ICOs that most are not even likely to come on in crypto space and crypto is all about decentralization but submitting our info has made it look centralized to me.
There is no regulation in crypto yet so why should we give our details to unknow ico organizers, so claim to prevent some region in participating in the ico because of the country law but those ICOs comes from the same region and country that prevent their own citizen from participating, should we say they are using style to rob us or our details is being used for other purpose .
I think it's high time we all need to stop giving our details to ICOs if really the crypto is all about decentralized and their is no regulation in the world yet to really require such details, I will like to know everyone minds about the submission of our details in term of KYC .
They are doing this to make them looks compliant to the country where they are supposedly registered, but there is still a risk that your information might end up in a third party, I have not yet participated in these KYC and I'm not looking to be part of such ICO and bounty campaign, because of the high risk.
I think yes, it is required, only not in the format in which it is imposed on people. I think that regulation is necessary, with the preservation of the basic principles of the crypto currency, namely, the principle of anonymity. It is very important.
Yes its really scary giving out your information to someone you only met online. If only it can be protected very well it helps icos to regulate scammers on their sites. So its a big advantage of it's going yo be managed properly
I think we should be careful about providing KYC information. I always try to avoid projects which KYC information from people. We don't know their intentions so there the risk exists.
I personally stay clear of sending my personal documents to anyone I don't know - identity fraud is a very real thing.
Fear of Missing Out is a powerful force for some, but I suggest you stay level headed and just accept that some things are just not worth the risk
Fear of Missing Out is a powerful force for some, but I suggest you stay level headed and just accept that some things are just not worth the risk
Kyc doesn't require in crypto I wonder why some ICO developers adopt Kyc because it has nothing to do with the success of the project and it's weird sending vital information to someone at the other end of the computer and you have no idea what they're doing with it I just hope we can resist this idea of Kyc because crypto itself is about anonymity and I think it should remain that way
I am also against providing the KYC information to the ICOs. I think these things shouldn't be mandatory to provide. There are some good ICOs, airdrops etc which don't require any KYC information.
For me kyc is bad on a ico. Because kyc make limited on a investor. Because not all investor have a valid id. Other are just student that cant yet fet valid id
You have a good point people should not give their information's to get bounty tokens because the ICO team should be the first to do that .
Many people say that the KYC is a requirement for those who become investors and will invest in ICO. Maybe they need our data in an effort to reduce the level of cheating. And this I think is very good, but only for a few with a very important project.
Do we really need to submit our personal details to ICOs for buying the token or for participating in it's bounty and airdrop?
No, never for bounty or airdrop. For an airdrop is just stupid because there is nothing to gain and for bounty, it is not required legally since you are not an investor.
There are many ICO projects that are launched in the forum ,but they do not require KYC but the project is still successful, the importance we csn help out to promote the said ICO project, and KYC is not really required ro claim your rewards it adds time and effort.
What to prefer: anonymity or security is the personal choice of everyone. As for crypto exchanges, we are increasingly left with no choice, forcing KYC & AML to perform. These are the realities and new rules of the game in the field of the jurisdiction of the European Union and the United States, which are increasingly tightening the requirements for their citizens and legal entities.
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