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.
Main reason why some ICO do already asked for that verification to prevent frauds and money laundering,multi accounts of investors this is a good thing for investors part but we do know already the thing is on being exchanged which is our identity.If you are willing to expose out informations then its your choice for the sake on making money you are really fully aware on that but KYC process will really remove the essence cryptocurrency investments. 
Topic: Why KYC is important? - page 22. (Read 3301 times)
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.
I believe that the requirement to pass KYC to investors (and now also require this from bounty hunters) is contrary to the ideology of the blockchain. Such a rigid regulation of the crypto-currency market will lead to an outflow of money.
It is really contrary into the ideology of blockchain but it turns out that those projects wont really have any choice but to implement such KYC due they might have been regulated or asked to do such thing.If they wont then they cant able to operate or make such sale.We do know the regulations around where personal identifications would be asked first before we do make such investments.We like or not but we are really heading on that way.I think KYC is important for those who participate in ico because some countries have set up a crypto currency exchange so this will make it easier to invest safely.
But currently, most of ICO right now just used the same word to gain people's identity for bad activity, like selling of those ID to deep web or something.
our identity get abused for their benefit. i just hesitate if they only want to know from where we are.
Crypto should be anonymous and anonymity should be respected.
I even know a few Telegram groups where you can buy or sell an ICO account or docs
Kyc is important only for one reason regulators ask for idenity check for all investors so ico coins ask for kyc
Know your customer policy is very important. People use your product and if you make something that they don't like they'll stop using it. You always should target what they like and dislike and do what they want, that way everybody will be happy
I believe that the requirement to pass KYC to investors (and now also require this from bounty hunters) is contrary to the ideology of the blockchain. Such a rigid regulation of the crypto-currency market will lead to an outflow of money.
In early stages initial coin offerings (ICO) were open to everyone. Now entry to ICOs become difficult. ICOs now holding identification documents with their emails and wallet addresses, hackers have an added incentive to target these crowdsales.
So In my opinion KYC Making ICOs Riskier. In same situation its good for ICOs, but bad for investors.
So In my opinion KYC Making ICOs Riskier. In same situation its good for ICOs, but bad for investors.
A lot of ICOs are facing a problem from their investors due to the KYC. Voluntarily complying with KYC regulations provides many advantages to the Offeror and its investors, even if they are not currently explicitly mandated to enact such a process.
1. Cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes. Thus, not running such checks poses a long-term risk to a project. The Financial Times reported that New York Stock Exchange-backed GDAX says it “plans to list only a fraction of the hundreds of new digital coins that have been invented this year”
2. Voluntary KYC compliance may help ICOs reach a larger global audience and expand the number of jurisdictions in which they can take place. Such compliance allows easier reach to investors in America, Britain, Canada and elsewhere.
There are other restrictions also imposed from SECs and banks which greatly limit the activity of the company in the future.
We know not everyone is happy about KYC and some people don’t agree with it ideologically, especially when it comes to cryptocurrencies, where transfers are anonymous, or at least pseudo-anonymous.
However, for the adoption to seamlessly occur, the company holding the ICO needs to have KYC, which otherwise will create issues for the company in the long run, which is bad for both the investors and the holder of the company.
KYC is not done by a company to know where their money comes from. To be honest, a company rolling out its ICO cares about the cash inflow and not about their identity. It is a means of due diligence so that they are not prosecuted by their country of operation.
Enkidu has it's pre-sale going on right now. The minimum viable product has been developed before the pre-sale.
Thank you, we will start our KYC for Global Traders Competition at 15th May, and our Traders and Investors feel more safely, if we do this.1. Cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes. Thus, not running such checks poses a long-term risk to a project. The Financial Times reported that New York Stock Exchange-backed GDAX says it “plans to list only a fraction of the hundreds of new digital coins that have been invented this year”
2. Voluntary KYC compliance may help ICOs reach a larger global audience and expand the number of jurisdictions in which they can take place. Such compliance allows easier reach to investors in America, Britain, Canada and elsewhere.
There are other restrictions also imposed from SECs and banks which greatly limit the activity of the company in the future.
We know not everyone is happy about KYC and some people don’t agree with it ideologically, especially when it comes to cryptocurrencies, where transfers are anonymous, or at least pseudo-anonymous.
However, for the adoption to seamlessly occur, the company holding the ICO needs to have KYC, which otherwise will create issues for the company in the long run, which is bad for both the investors and the holder of the company.
KYC is not done by a company to know where their money comes from. To be honest, a company rolling out its ICO cares about the cash inflow and not about their identity. It is a means of due diligence so that they are not prosecuted by their country of operation.
Enkidu has it's pre-sale going on right now. The minimum viable product has been developed before the pre-sale.
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
KYC is necessary to reduce scam users participating or use ICO as the tool to money laundering. Further, ICOs also mút do KYC to avoid the criticism and be stopped activity from Securities and Exchange Commissio United States.
My viewpoint, KYC is good for ICOs, but it's bad for investors because nothing is sure that your private data will be protected safe before hackers in the future, your email address can be changed, but the passport and the driver license can not be changed.
My viewpoint, KYC is good for ICOs, but it's bad for investors because nothing is sure that your private data will be protected safe before hackers in the future, your email address can be changed, but the passport and the driver license can not be changed.
I think systems like the KYC would be very beneficial if applied in all ICO. fair enough, nowadays many ICO always popping up and it takes a Verity of various parties as more and more scam that is very troubling. Maybe with the KYC is I think will be much giving a nice impact.
I think KYC is important for those who participate in ico because some countries have set up a crypto currency exchange so this will make it easier to invest safely.
But currently, most of ICO right now just used the same word to gain people's identity for bad activity, like selling of those ID to deep web or something.
our identity get abused for their benefit. i just hesitate if they only want to know from where we are.
Crypto should be anonymous and anonymity should be respected.
I even know a few Telegram groups where you can buy or sell an ICO account or docs
This system is important to screen out scammers who make a lot of accounts. Also it will make it easier to invest safely.
I think KYC is important for those who participate in ico because some countries have set up a crypto currency exchange so this will make it easier to invest safely.
But currently, most of ICO right now just used the same word to gain people's identity for bad activity, like selling of those ID to deep web or something.
our identity get abused for their benefit. i just hesitate if they only want to know from where we are.
Crypto should be anonymous and anonymity should be respected.
It is especially important for those who need him, and it doesn't matter to those who don't need him.
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.
I think KYC is important for those who participate in ico because some countries have set up a crypto currency exchange so this will make it easier to invest safely.
KYC refers to Know Your Customer policy, Which is a mandatory, Regulatory and legal requirement for the identification and verification of the customer’s details, By using independent and reliable information or documents.
The objective of the KYC is to identity theft, Prevent terrorist financing, Money laundering and Financial fraud. KYC allows us to understand the customer better and manage risks prudently.
The objective of the KYC is to identity theft, Prevent terrorist financing, Money laundering and Financial fraud. KYC allows us to understand the customer better and manage risks prudently.
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