because now there are a lot of frauds in the ICO so you have to use KYC to know who will participate.
then for KYC Exchange it is needed to detect Bitcoin funding that is misused.
so when there is a disbursement of Bitcoin against FIAT in Exchange it will be detected who is the person who committed the crime using Bitcoin.
Topic: Why KYC is important? - page 11. (Read 3330 times)
Well doing KYC or know your customer process is like ignoring the first important thing in crypto it is the anounimousity but we still need to abide by their rules of we want to invest in their project. Some projects are requiring to do KYC because some countries like china and USA are not allowed to participate in it
anonymity doesn't have to be everywhere and in everything. sometimes u may sacrifice a little to get a profit.
Well doing KYC or know your customer process is like ignoring the first important thing in crypto it is the anounimousity but we still need to abide by their rules of we want to invest in their project. Some projects are requiring to do KYC because some countries like china and USA are not allowed to participate in it
KYC is a important things for ICO to know about their customers such as citizen and as a proof of legal documents for them.
The ICO is also using it to refer to the bank regulations and anti-money laundering regulations which govern these activities.
Yes, that is the reason why ICO requires KYC on it's investors to prevent citizens of countries which prohibited them on participating on that ICO. But if a person really want to invest on that particular ICO i think he can find ways how, like tapping the services of friends from other countries to invest on his behalf. The ICO is also using it to refer to the bank regulations and anti-money laundering regulations which govern these activities.
KYC is a important things for ICO to know about their customers such as citizen and as a proof of legal documents for them.
The ICO is also using it to refer to the bank regulations and anti-money laundering regulations which govern these activities.
The ICO is also using it to refer to the bank regulations and anti-money laundering regulations which govern these activities.
transparency is good for preventing fraud, but it is also a risk to those who provided their data.
I don't like the KYC rules because it causes exposure of someone information which is not safe, although it has its own advantages but I just personally hate it, and it also restricts many people participating on many projects. Little dude they know it may affect the project by reduction of masses of the community.
K. Y. C (know your customer) it is a security measures used to check the nationality of the customer and other details
I certainly understand. companies may have problems if there is no KYC. But I as an investor still do not like to pass KYC. Too often our data is from unknown third parties. I do not like.
Me im against in kyc. Because kyc really hard to be approved especially if you didnt have a valid id. And its limit the investor.because not all investor have a valid id other are student that not yet reach 18 yrs old.
law is law: if u're not allowed to participate, then there is hardly any sense in trying to act against the rules.
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.
It would be great if the development team passed kyc before running ico, then there would be less scam. It seems to me that such a rule will soon be introduced
They should start from this. Before the ICO procedure starts, all team members should go through the KYC procedure. Maybe it would actually reduce the amount of fraud. It's investors who risk their money because they usually get cheated. Requiring KYC from bounty hunters or airdrops participants is a complete misunderstanding.
Indeed KYC is important but another concern is some ICO reselling KYC identities or even good one database been hacked which posses risk too.
nice to read.... I will just send all the FAKE KYC retailers to this forum.
LET HAVE FUN 
LET HAVE FUN
KYC is what government needs to prevent money washing. They know who you are, they know how much money you sent out, that's the reasons
KYC is for me real important and is an important part of the way to be adopted by public and furthermore institutions. It gives more trust on the investors and projects/ICO in general. For me it is a mandatory step for all projects in crypto wolrd to be considered as serious.
I think KYC verifying is important to notify the clients or customers whether it is in the restricted area for the projects of an ICO and to assure that bots are not working instead of humans.
KYC policy is primarily for the purpose of knowing the participants' identity. This is to determine whether the participant belongs to a country banned from joining, or if there are criminal records, or if there is a history of scamming. Ofcourse, participants are scared of data breach. This is not 100% inevitable. No matter how secure their data are, there will still be evil minds roaming around that might hack it. This could be one of the reasons why some investors refrain from joining ICOs because they are afraid problems like this occur.
its so important . But some scam projects used it for hacking our information .check out carefully before deceding to do KYC
Yes a good information for us to know how KYC work and important.
KYC need to know who we are and know we are is not a cloning account.
But sometimes, people see it them ID.
KYC need to know who we are and know we are is not a cloning account.
But sometimes, people see it them ID.
Much has been said. Everyone has an opinion. Personally, I think that verification is necessary in any case. As minimes to make investments more democratic. And it became possible to track fraudsters.
I think kyc is good. It is a good thing for the ico team project. Let our investors know more about whether the project is a scam. In addition, its data record is a very powerful thing and can avoid many bad things. For example, money laundering in violation of the law.
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