What is KYC?Why do you need KYC in buying ICO?

[Trio86]

1.WHAT IS KYC?
"KNOW YOUR COSTUMER" means the process of the identification of the client.Token holder will be required to provide with his/her personal data,after token/coin purchased will be sent to the wallet that the user put in his account.

    2. WHY DO YOU NEED KYC?
Although the phrase "know your customer"may seem insignificant to a lot of people ,it has a very important meaning in the business world.If particular companies want to interact with other partners in the industry,however, they really have no choice. KYC allows companies to protect themselves by ensuring that they are doing business legally and with legitimate entities, and it also protects the individuals who might otherwise be harmed by financial crime.

   KYC is a defensive mechanism for both the company and the clients. By sharing this data,all the token holders confirm that they are the true owners of their personal accounts and the wallet,to which the company send tokens. It will grant that you are the person that receive your tokens.


     SUMMARY
   KYC  IS NOT A THING TO BE FEARED OF,COMPANIES NEED THAT FOR THE SECURE DEVELOPMENT OF THEIR BUSINESS AND FOR THE SAFETY OF YOUR INVESTMENTS AS
    WELL.

HOPE IT HELPS..LET ME KNOW YOUR COMMENTS AND IDEA GUYS ABOUT DOING KYC IN ANY ICO.

[aji678]

KYC is important especially in ICOs for proper regulation. Exchange listing normally request that as one their criteria to list the coin.But you have to be careful which site you submit your KYC. Don't submit your KYC in a suspicious site.

[RedzoneASE19]

I think having KYC is one of the way we could track the people who are using cryptocurrency for illegal transactions.

[gotbounty]

KYC is very important to attend ICO. That's why some projects require KYC to join bounties. This KYC will minimize the frequent duplication of accounts carried out by the bounty.

[Trio86]

will the data submitted to the ICO #DevelopmentTeam  be safe? I am afraid they will misuse my personal data.

[Gucci]

Open is Know Your Customer. This is actually a system that allows you to invest in just one individual. At the same time, the project builders want to know who is investing in them, and by putting maximum investment limits, they try to prevent their projects from being manipulated by a whale.

[AltLogan]

It's the best way to identify financial crime.

[Lighthouze]

I'm a strong advocate of KYC/AML. I believe it's a great tool for curbing the high level of theft and impersonation in bounties. Also, for ICOs, it helps curbs cases of money laundering attempts

[dauletbaeffberdakh]

Now many Bounty campaigns are forced to pass KYC for bounty hunters. I do not like this. We are not investors.

[comer]

Now many Bounty campaigns are forced to pass KYC for bounty hunters. I do not like this. We are not investors.

Yeah, I am with you buddy! KYC is very unlikely for us. We have to give our personal profile to someone we don't know. It's not that we avoid giving our profile but it is very doubtful in bounty hunters. Our profile is very vulnerable to identity theft.

[Prime]

Betul @ aji678, because giving KYC will be very risky for the owner of identity. Because it is personal, so we must selectively see which projects are really good. And if there are doubts, it is better not to provide personal data for security reasons.

[owmivmen]

KYC is needed to avoid violations of the ico project. there are several countries that prohibit their citizens from joining the ICO project. With the existence of Kyc, ICO project developers can find out who will be the investors of their project.

[Bruks]

Now many Bounty campaigns are forced to pass KYC for bounty hunters. I do not like this. We are not investors.

Yeah, I am with you buddy! KYC is very unlikely for us. We have to give our personal profile to someone we don't know. It's not that we avoid giving our profile but it is very doubtful in bounty hunters. Our profile is very vulnerable to identity theft.

Other countries, if a ico project is legally required to pass identification to everyone involved in an ico project. KYC is naturally required. you see that KYC's ico project is specious, do not join, many ico projects that KYC does not require. the decision is still on you.

[ComeBack]

Nice, Great information buddy. Another is newbie or newcomers must know that they must be careful on sending and doing kyc on differeng projects or ICO's because their identification are at risk.

[Leebarnes]

It is because the money that is raised during the ICO is put directly to the bank and the banks make sure that they will not breach the AML  they will require the know your customer policy to avoid being close by the central authority.