Is KYC needed?

[HeavLeighGill]

I’ve always been kind of hesitant to provide KYC, although I know it is usually necessary when it comes to opening an account with a broker. Still, some don’t necessarily require it. My mom had her identity stolen by her mother in law and I’ve had scammers try to steal my bank info before, so that may be why I don’t like to provide that data unless I have to.

[nickcrypto]

I don't like KYC because all KYC data- are personal data and they may be stolen...
Also I don't understand when some people like to take part in airdrop or to get for example $5 after Stock registering.

Is $5 is ther price for your  security?

[Master107]

I don't like KYC because all KYC data- are personal data and they may be stolen...
Also I don't understand when some people like to take part in airdrop or to get for example $5 after Stock registering.

Is $5 is ther price for your  security?

Got your point of view mate.

Maybe we can assume that those who joined the airdrop with KYC for $5 -$10 could be in great need or they are so desperate to earn free money despite of personal information risk.

They don't have a choice than to let their personal information be at risk as long as they can buy foods for today.

For us who knows and understand the risk in KYC, we are not easily giving our information despite of $50 or $500. Of course it depends on the project transparency and security to secure each information for no disclosure just for the record purposes only.

[GeniusProject]

As an ICO ourselves we want to say that KYC sometimes is inevitable. Why? Is a secure way for us and investors to verify if there are real persons behind the computer. Instead of being afraid, all you should do is verify the project that requires you a KYC. Verify its team, its results for a short period of time, its websites, emails, and every detail you could think of.
We think that this is a way you will end up with this fear of KYC in general.

[Goldlife]

some people certainly do not like to do KYC, and some others don't care about that,
I personally do not really like KYC, but for the forum I will do it, because from the beginning I intended to be active in the forum.
but for KYC in a project I prefer to avoid it. the reason for avoiding personal data is being stolen,
and I used to do KYC first, but suddenly the project was closed, and after that I tried to be careful and avoid it.
How about you?
do you worry about KYC or not?

KYC is already illegal for bounty hunters. According to the FATF recommendations, which came into force in June this year, KYC can only be used for the prevention of dirty money laundering and combating the financing of terrorism, and only in relation to transactions worth more than one thousand euros.

[BitToken]

of course you have to do KYC because it can keep you safe.

[Dreamer]

How about you?
do you worry about KYC or not?

I am worrying about KYC but I am not afraid of doing KYC. It depends on the platform that needs my documents and which type of documents, I will complete KYC in any trusted platform without any worries because I understand that KYC also protects me because scammers will not complete KYC. So I think the issue here is to deal with trusted platforms and your data will be safe.

[collinsjie]

I really worry about KYC, If it is necessary for a particular project will not because of that not participate in the project.  KYC is meant to fish out or limit fraudulent people who will try to cut corners involving in the project. For me  KYC is fine by me.

[bitbit97]

I really worry about KYC, If it is necessary for a particular project will not because of that not participate in the project.  KYC is meant to fish out or limit fraudulent people who will try to cut corners involving in the project. For me  KYC is fine by me.

If KYC is fine by you, then you are ready to pass it for every project that ask? I dont get your post. You say you dont take a part of a project that ask to pass KYC, KYC worriers you, yet you say it is OK. Something misleading you are writing.

[stanley]

I don't like KYC, and I avoid projects that require me to leave my data. Unfortunately, there are more and more such projects and exchanges. I would not like my data to fall into the hands of scammers

[Sumi]

Requiring KYC for participants in ICO bounty campaigns is illegal, since KYC is carried out only for the purpose of preventing dirty money laundering and combating the financing of terrorism. Bounty hunters do not invest their money in the work process, and therefore cannot be suspected of committing these illegal activities, and therefore should not undergo KYC.

[Sumi]

KYC problems is the most frequently discussed on bounty. Actually almost all of us don't agree with KYC procedure but it seems impossible to avoid. There are many projects that require KYC for their investors and even for bounty participants. I have no problem KYC for investors, but it shouldn't apply for bounty participants also.

[Goldlife]

I do worry, because the more places, your data exists, the risk of your data get stolen increases. If someone does not care, he will face the consequences, of an identity theft. Before many years, there were no identity theft issues, because there were minor places, you should give your data. Nowadays, many say scam avoidance, but for me, the gain is less than the pain, so I see no reason to give my personal data. If you ask KYC for a bounty, I won't participate. If you ask KYC to offer a service, excuse me, I can live without it.

[36B]

In my opinion, KYC in the cryptocurrency world is not important because cryptocurrencies are actually created not to know who owns the wallet used to make transactions using cryptocurrency, it has become a clear thing written on the bitcoin whitepaper when it was first created, usually KYC is only in ask for multiple exchanges to avoid inflation in any exchange.

[Dora Walletinvestor]

I can understand why KYC is necessary, but I am also somewhat careful with it because of wanting to protect my data. What's important is to make sure that the company in question is reputable and trustworthy.