Is KYC really a good thing?

[Coin63@]

Always kyc is not a good activities because some illegal person store others data and sometimes they use it for illegal social activities. I hate kyc kyc submission. But some popular cryptocurrency exchanges don't need to submit personal data for assets withdrawing.

[Stuart]

KYC is a good form of knowing the people participating in a project as investors, to know know your background and information, so as to avoid being hijacked or going against rules of the country. This process also has a way of reducing the rate of some fraudulent acts in the crypto world. Though, at times it can be so annoying when it comes to exchanges, cause when you have a little coin to sell off in an exchange, and the exchange starts demanding for KYC Verification. Where as the trade you are to carryout there is not up to 1BTC.
Well, for the bounty hunters, it is good to remain anonymous, cause our own form of promoting the project is easy, and when it comes to social media, our identity is brought forth.
KYC is good, though it might be annoying and frustrating at tines, but its good.

[Miracle]

KTY is good if only u partake in a good platform.
And it use for indication. But in the order KTY is not that good because if unfortunately the platform your participating got hack your  personal data  can be stolen

[Power420]

I think it is better to do KYC of any account in cryptocurrency.  Because if KYC is done then of course the account becomes secure.  That account will become personal and cannot be changed in any way.  So I think it is better to do KYC.

[Freemind]

I think it is better to do KYC of any account in cryptocurrency.  Because if KYC is done then of course the account becomes secure.  That account will become personal and cannot be changed in any way.  So I think it is better to do KYC.

I still think that KYC should go in two directions, users and team members. What you say is not safe for the user, it could work if the registration was done centrally, but giving our personal data for each project in which we participate seems crazy to me. We wouldn't know where our data is going and it could end up on the deep web for sale.

[alltalk]

Good thing for the team or the users? If you are talking about the users' views, KYC won't be a good thing, it is always a high risk for their secret identities. There is too much secret data that the KYC procedure asks the users and it should be in detail sometimes. I never think it is safe enough for the users. However, it is sometimes a must to fulfill because the team members of a platform want to make sure if the user is acceptable to join.

[elbans89]

Well, KYC is good especially when the project has proven beyond reasonable doubts to be successful. It is a requirement that has been implemented by the authorities of many countries in other to eliminate the issue of money laundering and the funding of terrorists. Anyway, investors must do an intense study into the project to ascertain that their identities will be protected and be used for only verification purposes as stated by the KYC rules.

Yes, I think KYC is good thing to reduce scam and multy.
Buy  We must know which project need KYC, because there are scam projects.
I have seen several projects that ask KYC are scam.
Several people don't want to share their ID to fulfill KYC, they are afraid . Their personal ID will be misused.