Why KYC is important? - page 20. | Bitcointalksearch.org

torry28

legendary

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Quote from: bigvito19 on May 26, 2018, 03:39:57 PM

It shouldn't be important at all because crypto suppose to be anonymous Cool

Would agree with this. I'm also think KYC only needed for investors to prevent from AML. Bounty hunters shouldn't be needed to KYC because most of them are "annonymous" and didn't take any part of project's investment

Teamsah165454

newbie

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KYC is the way many ICO projects are used to verify the identity of investors to limit fraudsters and focus on the markets the project is targeting. I support KYC because it helps reduce fraudsters and wealthy investors who want to dominate a coin by buying a lot.

mybtcasset

newbie

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kyc is one the best move for transparent ico where we submit all our documents and ico runs with audited firm and legal firm so we can respect KYC option and submit accordingly

Apaxy

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Quote from: bigvito19 on May 26, 2018, 03:39:57 PM

It shouldn't be important at all because crypto suppose to be anonymous Cool

many users of crypto currencies start to contradict themselves, because on the one hand everyone wants to legalize the crypto currency and the recognition of Bitcoin by its authorities so that it becomes a full currency in every country. But on the other hand, everyone wants to have anonymous income. This can not be.

bigvito19

full member

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It shouldn't be important at all because crypto suppose to be anonymous Cool

mirror001

full member

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In point of view that the KYC is remains for "Know Your Customer" and I think this is a framework that distinguishes the genuine personality of a members. Furthermore, this KYC is essential with a specific end goal to approve con artists and those tricksters. Be that as it may, some of the time it can be utilized additionally by those con artists likewise by putting on a show to have an ICO and will approach your data for their own particular advantage like utilizing your data for awful aim and this is the disservice of KYC framework executed.

And

Not simply in this market, but rather I feel that KYC procedure is of a great deal of significance wherever on the planet. How might you even realize that true blue individuals are purchasing your item and not somebody who is imitating a few other individuals? I am supportive of having KYC for each venture and even the abundance seekers ought to be taken through the KYC procedure so that there is no deceiving going on. It takes away the obscurity yet then keeping in mind the end goal to check con artists this KYC procedure is must.

Am I right guys?

miha74

sr. member

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Systems like KYC, I think it would be very useful if it were applied in all ICO's. right now, many ICOs are always popping up, and this requires Verity of various parties, like more and more scams, which is very troubling.

Mahanton

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Quote from: spngebob on May 26, 2018, 01:35:22 PM

Quote from: CryptoMusicProduct on May 26, 2018, 11:31:04 AM

I believe that the crypto currency thanks to KYC is no longer as anonymous as it used to be. Soon there will be AI everywhere and when registered will be able to index the person's identity.

Who is to blame here?
You should stay away from projects with KYC.
Tokens are not money. Crypto is not recognized as money in most parts of the world, why would you agree to expose yourself for something which isn't money?

You cant blame people on here why there are some which are really willing to risk out their identity just to get those tokens.You are right, they are just tokens but we do know the possibility on making some serious money once those tokens hits on exchangers.KYC is important to prevent fraud and exchangers do comply with governments laws which do have its own advantage and disadvantage between exchange and the users itself.

spngebob

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Quote from: CryptoMusicProduct on May 26, 2018, 11:31:04 AM

I believe that the crypto currency thanks to KYC is no longer as anonymous as it used to be. Soon there will be AI everywhere and when registered will be able to index the person's identity.

Who is to blame here?
You should stay away from projects with KYC.
Tokens are not money. Crypto is not recognized as money in most parts of the world, why would you agree to expose yourself for something which isn't money?

3JIO

full member

Activity: 225

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Presale is live!

Many ICO creators do not think that KYC scares off large investors.A person who has such huge amounts is not advisable to publish him home address, etc

svendoto23

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CryptoMusicProduct

jr. member

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I believe that the crypto currency thanks to KYC is no longer as anonymous as it used to be. Soon there will be AI everywhere and when registered will be able to index the person's identity.

carol15171821

newbie

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KYC is very important for them to be secure and insurance the client and also other countries need it by the way.

rostpAyment

newbie

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many do not agree with kyc, and also there are some who agree.
it is very important to give indetitas, and we must read it with the project goal time ichi timing. Is it really safe or not.
then we consider after reading the web and WP.

Kruncha

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It's a situation that should not be in the crypto realm. But now the states are in business and they are thinking of giving it back control.

adzino

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www.Crypto.Games: Multiple coins, multiple games

Know your customer is need by some laws on some countries. This helps to ensure that no fishy business is being taken place by the investors. It is mandatory to submit on some states according to their anti money laundering law. The government is trying to become more strict on ICOs and crypto currencies and thus they are also now pushing ICOs to collect KYC so that they can keep an eye on their transactions. We might be asked to fill EDD form in the future assuming how harshly the government is trying to regulated crypto currencies.

stefany101

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A Blockchain Mobile Operator With Token Rewards

We all know that there are so many ICOs that requires KYC in order to purchase their tokens or can participate in their bounty campaigns. I think it is important to them because it is the way they can identify what kind of customers are they have, what kind of person or where this person lives. Most ICOs have a restrictions of country where their tokens can't access, that's why they requires KYC. The most important objective of an ICO is the security of their partnerships and investors.

success007

newbie

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KYC or Know Your Customer is important because it is the only way you can verify each buyer’s identity and residency.
This is something that isn’t only required by governments and regulators, but also by the banks, large corporations, and public bodies they are bringing into the data trading market. It’s important that we do these KYC checks because it protects you as a contributor to the project. The bottom line is they are doing this not only to protect the project, but to protect you, as token buyers, from the possibility that anyone could claim these funds aren’t legitimate.

Oasisman

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Quote from: richjohn on May 26, 2018, 03:55:46 AM

I agree with most of the points that you have mentioned. As we all know, this forum is full of people with Alts and by doing KYC, one can ensure that only the genuine single person comes forward and does not claim rewards for his/her alts.
Secondly, as the laws around the market are getting stringent and the government is adding pressure on exchanges to do customer checks, hence it is becoming more important for people to first validate their identity and then join that exchange.

One are allowed to use the exchange even without validating the KYC to the customer in some other exchanges, but it has set to be limited in terms of withdrawals.
As we can see there are a lot of advatanges the KYC brings to every individual, as it makes our assets safe and secure. But , there are just one major problem with KYC that a lot of people are afraid of. The fear of identity thief.

ai5998865

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KyC is need in order to prevent money laundering its first.
and in order to exclude multiple accounts

Topic: Why KYC is important? - page 20. (Read 3330 times)