Topic: Why KYC is important? - page 7. (Read 3330 times)
KYC will provide feedback for the project maker whether the project has been successful or failed and whether there are other issues that must be discussed there.
I find that ICOs projects that require KYC verification will help those ICOs become more professional. You may see that many people think that KYC is really troublesome, but KYC helps you know that the developer is really looking for their project.
smart writing, because what I understand when filling in KYC is to improve accurate identity security and increase investor confidence from several registration processes in each participant as an investor and bounty participant for later verification.
The KYC is mean Know Your Customer to limit cheater or some people come from US, etc.. join ICO, airdrops and bounty. But be carefull, If you join projects scam, scammer will take your idenity documents.
I think kyc bounty is very unnecessary for the participants. ico may be required for participants. it is important for the tokens to spread properly.this situation is formalizing.
it is important for investors and if the ICo does not ask for KYC , this is a RED FLAG, since any team knows that there are severe restrictions regarding investments from different countries. And could result in lawsuits and worse. This is why KYC for investors is important but if they ask KYC for Airdop this is very susupucious and could be because they have illegal intentions of selling your ID.
I think KYC is needed in the exchange, but when I invest in an ICO project, I think I need it. Every time I go to ICO, KYC feels very uncomfortable.
I think ICOs should find a way to simplify KYC. I think we can change the flow of ICOs depending on how we do this, and we need to eliminate various regulations around the world.
KYC is needed when trading on the exchange and I think it is possible to further reduce the risk of hacking.
I think ICOs should find a way to simplify KYC. I think we can change the flow of ICOs depending on how we do this, and we need to eliminate various regulations around the world.
KYC is needed when trading on the exchange and I think it is possible to further reduce the risk of hacking.
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
This KYC is simply standart procedure, it dont give us maximal guarantee.
Many peoples use not real their documents.
Many peoples use not real their documents.
Imagining going to an office or school without an identification card or traveling abroad without a passport or boarding pass. For crypto exchanges, that's equivalent to doing business with people you have not personally vetted. These is where kyc comes in. The process is pretty much similar to when you first opened your bank account where you were likely to fill personal data sheet and submit one or two ids
I think that the exchanges are just following legal directions given by the government. Even after implementing KYC, there is no guarantee that fraud can be eliminated completely. There are many providers giving false documents for such kyc.
There are benefits as well as shortcomings of kyc in my opinion. I will not be surprised if government starts tracking people with the help of this and demand more tax from them in future.
From the beginning I was against the KUS and my opinion has not changed. I hope there's some other way to verify our identity.
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.
Good thinking, investors also need trust in ICO developers with KYC. So they can get to know each other and investment will be safe.
ICO should know their investors because as far as I know there are some countries that banned crypto and in that case they need to avoid the netizen to join in any ico where crypto is banned .
Kyc is important as it makes the project known to it's token holders and also, during icos or bounty programs , kyc's are often used to prevent cheaters of the system. This is the basic thing kyc is been used in this industry
KYC is necessary to defend people and their investments. For ex., it could be bounty participants where KYC helps to avoid multi-accounts. Also it could be ICO participants (for ex., to avoid buying all tokens with several investors).
And what about confidentiality and decentralization? Was it not for this the crypto currency was created? Now we are discussing a topic that was impossible a year ago.
I think it's not important because the greatest attribute of blockchain is its permissionless. The only reason we need KYCs now is because of government's regulations. But that one or those ones who have created a Bitcoin never gave a damn about government in the first place. Blockchain can help us to get rid of intermediaries and the biggest intermediary we how nowadays is government.
KYC means know your customer. It is a very good thing and very necessary in future. It is a good policy to protect from fraud peoples. In coming time it is very must in crypto world safe for all.
KYC is necessary to defend people and their investments. For ex., it could be bounty participants where KYC helps to avoid multi-accounts. Also it could be ICO participants (for ex., to avoid buying all tokens with several investors).
The importance of KYC or " Know Your Costumer" is the policy is to prevent money laundering, identity theft, terrorist financing, and financial frauds.And to identify the customer and verify his/her identity by using reliable, independent source documents, data or information.
Great article and thanks for sharing here. The KYC (Know your customer) is one of the most important thing to participate in any ICO project. In near future it will be more important because of some counties are regulating the cryptocurrency in their countries.
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.
Good thinking, investors also need trust in ICO developers with KYC. So they can get to know each other and investment will be safe.
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