Topic: Why some ICO required KYC? - page 3. (Read 498 times)
May be because of Governments, however, you cannot ensure that they will sell your data, so It would be better not to share your identities with ICOs.
For the reason of avoiding dummies and also to verify each person if they are able to buy tokens or receive it, and other companies dont accept china and america for their project.
I really do not know why bounty hunters are asked to do KYC before they are paid their token by some bounty projects. A participant in ICO can be asked to do KYC because the project team what to know the source of fund being invested in their project but for bounty hunters i do not get it.
This will let ICO more secure and legit.To increase security and reputation of a token, they require know-your-client kyc process to ensure that a person has no legal liabilities and also to avoid scams, because through kyc, they can easily track suspicious holders.
Because after ICO Tokens Can be buy anyone without submitting any KYC 
Totally confusing this process
Totally confusing this process
Know Your Customer of KYC is really annoying for me. Aside from providing them with your private info, you also need to give your ID or any identification like passport and national Id in which be very vurnerable for fraud. Some ICOs requires KYC because they want to make sure that their investors are not from particular country in which they are not allowed to participate.
They do so to confirm the user, but in my opinion this is not necessary and not important. Confirm that the user is not always holding them tokens forever, they will sell tokens to others and others sell to others.
KYC means that " Know Your Customer '. Fund raised happened during ICO. In Token Sale, they need to verify buyer's identity and residency. For that, they used KYC process. Knowing residency of each buyer is essential due to national legal regulations. Knowing Identity restrict that opportunity to create multi-account and make sure that buyer is not a part of a sanctioned list, a criminal, a terrorist, or a corrupt organization.
But There is more risk because of we send our private data to an unknown organization to review our information. We can not be guaranteed that security of that data.Despite, KYC is an essential task to run long-term in Crypto Project.
Thanks.
But There is more risk because of we send our private data to an unknown organization to review our information. We can not be guaranteed that security of that data.Despite, KYC is an essential task to run long-term in Crypto Project.
Thanks.
I'd steer clear of icos requiring personal information. Are contributors customers?
because the government where they are forced. It is in my personal opinion, they were forced by a loan organization or their government. The founders of the ICO project always wanted to sell tokens to buyers in the simplest way.
Because there are some countries that prohibit buying coin or participating in the purchase of cryptocurrency such as usa and china so that in every purchase of tokens require KYC in order not to violation.
The KYC system is to find out the identity of ico participants, as many participants follow ico with multiple accounts, so with a KYC system, each ico attendee can only follow ico with only one account, because each account must send its real identity, and I think it's good to reduce participants who use multiple accounts.
Because after ICO Tokens Can be buy anyone without submitting any KYC
Totally confusing this process
Totally confusing this process
ICO have or needed to create your own KYC, in the first place you should know the meaning of KYC. ( Know Your Customer ) in this case you will passed some valid copies of your I'd including passport and drivers licence. so they know you are human not a bot. cause some of bounty hunters and ICO members was controlled by computers.
Because after ICO Tokens Can be buy anyone without submitting any KYC
Totally confusing this process
KYC= Know Your Customer is one of the criteria signed by the ICO initiator companies during their registrations. Apart from the need to comply with the regulators, the companies need to stand clean before any jurisdiction. If the ICO is over, the whole burden of KYC is lifted off their shoulders and then to the exchanges. Totally confusing this process
Because after ICO Tokens Can be buy anyone without submitting any KYC
Totally confusing this process
Some ICO are required to comply with KYC policy, depending on the rules of the SEC of the country where they are doing this crowd funding, if the government does not have any rules or law about it yet, then any ICOs that will start on that country can do a crowd funding without complying with KYC. Personally I don't like the idea of this, giving your personal information to those developers of the project, you'll never know but there's a chance that those information will get leaked and putting yourself on risk. I mean, this is good for ICOs because they will get an approval to make a crowd sale by doing this but for all investors this will just add to the risks, so for me it is very unnecessary. Totally confusing this process
Know your client system was now required in some bounty campaign but i totally dont agree in that. You can give tokens to participants without it. This KYC was giving the participants doubt about the project because KYC require personal information but not all participants dont care about our info. We also care for our security.
i think those companies wanna control illegal activities. they need to know extacly who are investor and where they're from.
I think it's just to know the identity only, to maintain the security and also the rules of the forum, so with KYC, the team can recognize the identity of each participant.
I agree with the KYC system, but if more people feel harmed by the KYC system, then I should follow the majority.
I agree with the KYC system, but if more people feel harmed by the KYC system, then I should follow the majority.
This is a new way to reduce existing cheats. And to verify everyone who follows the ICO. I think KYC also adds security for ICO participants.
Because after ICO Tokens Can be buy anyone without submitting any KYC
Totally confusing this process
ICO requires KYC to validate the actual identity and residency of the of the investors. They want to check if the source of funds are legitimate. So ICOs goal is to do the business with legitimate people.For bounty participants it ia a one way to check for multiple accounts. Totally confusing this process
KYC or Known Your Customer need to implement to join the ICO so the participants it is the real people, not fakes. For this purpose, I agree with it. Thanks
KYC is for the safety of the ICO in order to secure it and avoid any kind of fraud and scams. It is great to be required for the investors of each ICO but do not for the bounty participants because not all participants has a valid document to be sent for the verification which make us nothing to earn and your effort gonna be not worth. Jump to: