Topic: KYCs (Know your Client) is killing crypto - page 2. (Read 664 times)
KYC is not encouraging lots of investors as we all want to keep our privacy in the real world,to avoid any form of interferance with our Private life.If I believe in abproject and its require KYC for its investor,will still go for it.
I think KYC thing will give crypto space some problems. Wether we like it or not but some criminals doing transactions comfortably in the crypto-space. Through KYC, at least some of them may traced.
I agree! I would never submit my very personal details to any random ICOs just in order to get a couple of tokens. And even if the ICO and KYC happen to be legit, there is always a chance of poor security and theft.
Somehow, I also disagree with the system that requires us to do KYC. And in fact, almost everything now has to be with KYC first. I got scared because of this KYC, even though I don't know my data would be misused or not.
It's true, it goes against the philosophy of cryptomony and anonymity. Especially since this data can be sold to a malicious third party... But it probably allows more security with big exchanges, even if everyone can give a false identity...
When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
KYC or Know your customer is not kilking crypto. I don't see anything bad or negative about this. This KYC is for protection for anti money laundering and scammers. If this way will keep me safe, i'll accept it.But now there are a lot of people asking for KYC for everything that concerns about cryptos, and that is shit, no one likes to give your personal information just for giving out some money, that is absurd.
KYCs are a must for ICO's, but not for anything else.
When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
Well almost all ICO right now needs the investor to verificate their KYC nowdays especially when you invest with big amount of coins. I think it's because the regulation and the ICO/project owner won't break the laws. What i hate is when bounty participants needs to fill the KYCs too which is nonsense for me.
I agree with that. Bitcoin as defined and invented by satoshi aims to be a anonymous payment method. If those company is requiring personal data of its customer, one of the main essence of bitcoin is altered. And by the way, that is even a policy that is imposed by the government and not the wallet provider or trading platform wants. And since it is required by the government it is no far that the government could use those information to track someone they want. I hope there are firm that will not follow those KYC or will impose a great one way part of knowing their customer and not sharing those information no matter what.
KYC or Know your customer is not kilking crypto. I don't see anything bad or negative about this. This KYC is for protection for anti money laundering and scammers. If this way will keep me safe, i'll accept it.
If an exchange is asking for your private documents they have the responsibility to keep your identity secure and how are you sure that they are keeping it safely in the context where you are hearing exchanges being hacked and loosing their coins, how what guarantee is there that they will be protecting your documents when they cant even protect the coins they are holding, we need to have a combination of everything and you cannot run a business without following the rules and so exchanges are forced to ask for the documentations. When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
KYC or Know your customer is not kilking crypto. I don't see anything bad or negative about this. This KYC is for protection for anti money laundering and scammers. If this way will keep me safe, i'll accept it.
It needed to be regulated somehow if you want to really take in consideration in everyday world.
ICO and not more just a scam coin ( but be careful because you gonna find already tons of that ) but is related with REAL firms.
And because firms are real , they have to declare how they gain the profit.
I still think that for going out on a ICO for many incorporations is really the game-changer because you do not need to fulfill all the burocracy stuff to let anyone contribute on your next thing. So differently in IPO or any other for of letting other buy some part of the firm , ICO if is done with good purpose will still be here for long time.
Anyway many people still think that crypto related thing is something you can do in illegal mode set.
It's definitely not true.
Even if you want to protect your pricacy, BTC or ETH is not the answer to make your illigal stuff. So start to think how crypto could really solve issue of daylife in a "TRADITIONAL DISRUPTIVE WAY ".
Cheers
ICO and not more just a scam coin ( but be careful because you gonna find already tons of that ) but is related with REAL firms.
And because firms are real , they have to declare how they gain the profit.
I still think that for going out on a ICO for many incorporations is really the game-changer because you do not need to fulfill all the burocracy stuff to let anyone contribute on your next thing. So differently in IPO or any other for of letting other buy some part of the firm , ICO if is done with good purpose will still be here for long time.
Anyway many people still think that crypto related thing is something you can do in illegal mode set.
It's definitely not true.
Even if you want to protect your pricacy, BTC or ETH is not the answer to make your illigal stuff. So start to think how crypto could really solve issue of daylife in a "TRADITIONAL DISRUPTIVE WAY ".
Cheers
When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
in some project also KYC is required to bounty hunter,yeah i'm agreed it's really killing cryptocurrency and altcoin When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
The need for KYC is not so often, as for me it's okay, although if we talk about security, then maybe we would not want to.
Heard that some pass KYC on documents taken from google.
Yes you are right. I made a lot of KYC for ico's or bounties and its scared me to give my passport copy to unknown person or company.
Being an incognito attracts people. Exchange markets and ICO managers understand this. However some of exchange houses provide verification and a lot of their clients stopped using them. The same is with ICO. I don't like this new rules with KYC in some bounties. No one knows what for they need personal information about their clients.
The ICO and exchange houses need KYC to comply with the regulation of their respective country. They just don't want their business to be effected by the government agencies. That is the reason why they need KYC data. While the exchange houses asking for KYC data is ok, I don't support ICOs asking for it. Even though they have regulations to comply with, but when we are not sure about their own identity, we don't feel comfortable to provide KYC to them. Because no one know what kind of scam it may open up later.
Being an incognito attracts people. Exchange markets and ICO managers understand this. However some of exchange houses provide verification and a lot of their clients stopped using them. The same is with ICO. I don't like this new rules with KYC in some bounties. No one knows what for they need personal information about their clients.
To my opinion there are two aspects of KYC regarding crypto.
At one side it's not so good for users of cryptocurrencies because they expect privacy, what they didn't have with fiat. There is no absolute privacy but still some amount of anonimity when you use crypto is present.
On the other hand KYC can help to protect from different types of scam so this is the good side. And everyone who don't have attention to performe something illegal don't have to fear KYC.
At one side it's not so good for users of cryptocurrencies because they expect privacy, what they didn't have with fiat. There is no absolute privacy but still some amount of anonimity when you use crypto is present.
On the other hand KYC can help to protect from different types of scam so this is the good side. And everyone who don't have attention to performe something illegal don't have to fear KYC.
As far as submitting personal documents, I think it's appropriate but with an agency that will never leak out such sensitive information. It will only just for a background check and nothing else.
Where exactly can we find such agencies that guarantees people's personal information would never be disclosed to third parties? These days we're beginning to see that the requirement for KYC by most centralized exchanges is now by default, regardless you want to deal on fiat or not. The main concern of many people over the request for KYC in cryptocurrency is that one can never tell, who or where their personal details end up and that is even made worst by the rate these exchanges are hacked. 
I feel it's a mandatory norm for filing kyc just to be aware the coins are being floated to the rite person as the same can be used for any illegal activity as well if the identity is not revealed. The best way is to buy and sell with kyc provided and live a happy life.
Yes, there are now a lot of ICO projects that require KYC, which causes some inconvenience to some investors because they do not want to provide their information, they want to be anonymous when investing in this market. But I think this is a good thing, KYC will help ICO projects become more transparent, reliable and resistant to economic offenses money laundering.
Kyc is not killing crypto actually it helps users or investors to know the Ico first before making any decisions. That's one of the good inputs to have kyc most ico these days. Security shoul be verify to all investors for their own good also. Jump to: