Topic: Why KYC is important? (Read 3333 times)
In my opinion, KYC is not needed by anyone except those who are planning to fraudulently in the future. In the future, when state participation in the control of investor participants in ICO begins, then KYC will be necessary. Currently, KYC is a useless and dangerous thing.
Some bounties are required for having keys are important because to avoid scammers, duplicate accounts, caters from participating in the projects to have equality of giving rewards.
Data validation is very important! It seems to me that in order to avoid meeting with scammers and other fraudsters, you need to verify payments!
By the way, the blockchain will help us
By the way, the blockchain will help us
If the KYC is so important to the ICO then why is there still so much shit on the market? It seems to me that in the first place it is necessary to identify those who launch the ICO as they constitute a greater threat than investors.
KYC stands for Know Your Customer and it is very important because it is useful for exchange to save illegal activities like money section. It is also helpful to save from cheaters and scammers.
We know it was important this KYC because it was going to be secure for us if we are invested.Even in the bounty campaign have some KYC because they have some participant have some using multi accounts.
It seems to me that KYC is not important. and that it is not necessary at all to users, participants of the bounty program. And also the present, honest projects of ico do not need this procedure.
KYCs are actually helpful means to fish out fraudulent people. It is a method that proves to be effective should a company wishes to have a list of true and identifiable customers. And an actual means to make sure that an account does relate to a real world identity.
The problem with KYCs being used in correlation with cryptocurrency is that their ideals clashes. When crypto says your real world identity is not necessary to operate your crypto assets, a KYC seeks proof of it. When crypto is a promise of pseudonymity, KYCs says that we are securing your identity by letting us know who you really are.
So it is in this regard that KYC seems so much of an issue to the crypto community. But in effect, KYCs are actually helpful means to protect us .
The introduction of KYC and quality storage for this data is an indicator of a healthy ICO market. If this were not the case, many questions could be asked.
I believe that KYC is not needed. And why did he. For security, it already exists. For identity verification, why should they certify it if the e-wallet address is already specified. Personality is also not needed.
Per my understanding KYC do have both pros and cons in its own manner. KYC is basically required for AML i.e. Anti Money Laundering. so that bad investors cant simply put the black money directly in ICOs. Every project has the right to understand and make sure that the money that is being invested in there project is legal.
Over the cons, if the Project or Team is scam and use the KYC details to sell further on, its really bad for investors on there identity theft.
Over the cons, if the Project or Team is scam and use the KYC details to sell further on, its really bad for investors on there identity theft.
The use of KYC is now used only for investors but also for the participants of the campaign gift. And the use of KYC is hanging from each of you personally. If you do not believe with it, of course, you don't have to follow it and can look for other projects. And if I think it's very important because from there we could reduce acts of fraud by participants of the bounty.
KYC is very important to verify the identity of the customer to reduce the phishing status or using the virtual nickname that makes us more honest and called the personal identity of the customer. This is a simple yet a good explanation how "know your customer works" . They need so that we can first know their customer very well and second for the security of their customer. That we can guarantee that our tokens are safe to be distributed to us. For the forum, there is a policy in one account per one person. The KYC system is what the ico founders need for them to be sure that their tokens are distributed equally to each and every member of this forum who join their campaign. It is important so that they can know their customer and for able to retain the value of their tokens to the market.
KYC stands for know your customer. This requirements are extra information needed for the team before the user can make purchase to their tokens. This is a legal compliance that the team cannot forfeit. Just make sure that when you comply to this, make sure to know the team what is behind the sale to prevent from a cyber crime.
I believe that KYC is not needed at all and now there are many ways to cheat KYC, and also because of this we lose our anonymity
This is not necessarily true, and some believe that KYC is very important. But I think the project itself is more important. KYC is just a filter, but the quality of the project is greater than these.
KYC is stands for "Know Your Customer" and i think this is a system that identifies the true identity of a participants. And this KYC is important in order to validate cheaters and those scammers. But sometimes it can be used also by those scammers also by pretending to have a n ICO and will ask your information for their own benefit like using your information for bad intention and this is the disadvantage of KYC system implemented.
Yes I agree with you. KYC is good because you can identify who is your customer in that point we can avoid scammers, but the problem is some scammers use those information to scam others by using those identification.
KYC is important because the government can regulate crypto currency and earn through taxes if all people in one specific country can submit their personal information.
I fully agree that this is a necessary procedure. For developers and investors of encryption projects, they need to meet legal requirements.
In the stock market, big investors still need investment certificates and in our market too. KYC is a necessity but for bounty hunters I think that is not necessary. I hope that projects ICO can understand us and dismissed KYC out part received token.
I think KYC is to avoid those who deliberately cheat and ensure the safety of the account. It also makes support faster when problems occur.
Although I don't like KYC, it's very troublesome. But I fully support it. Without KYC it is easy to cause fraud, and then one day Ico will ban the participation of a country that has been found to be fraudulent. You are right if the fraudsters benefit.
KYC is only good for bounty, I do not see kicks when investing ico.Cryptocurrency is an anonymous environment, I do not want to lose my personal information
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