KYC in crypto, does it really require?

[Chainsage]

As there are many spammers, if the company requiring KYC is reliable, it is necessary.

[zendicator]

I think KYC is required for the company to be compliant with the regulations. But choose wisely where to do a kyc it might end up selling your data.

[team87]

Based on the experience that I have read in articles about the function of KYC, it is a principle that is applied (the Bank) to find out the identity of the customer, monitor customer transaction activities including reporting suspicious transactions and has become the bank's obligation to implement them. I think this is also a positive thing to implement in cryptocurrency, with the aim of anticipating or limiting someone who wants to commit a crime. Note: that the KYC is not misused without the knowledge of the person's identity.

[mar]

For some reson,it is very required to use KYC in airdrop or maybe bounty campaing.The best reson is to avoid many scammers and multiple accounts and I think KYC is not really necessary for a small investor.

[MOProgress]

In my personal view, it is to an extent required, because if AML standard and the antiterrorism standard, it is good people are known before participating.

[WooDoo]

KYC is the system that is necessary to control the number of people and the absence of bots in the ICO, which is why it is a very good way to control.

[anshor1]

Do we really need to submit our personal details to ICOs for buying the token or for participating in it's bounty and airdrop?
I always wonder why do we need to give our vital info to ICOs that most are not even likely to come on in crypto space and crypto is all about decentralization but submitting our info has made it look centralized to me.
There is no regulation in crypto yet so why should we give our details to unknow ico organizers, so claim to prevent some region in participating in the ico because of the country law but those ICOs comes from the same region and country that prevent their own citizen from participating, should we say they are using style to rob us or our details is being used for other purpose .
I think it's high time we all need to stop giving our details to ICOs if really the crypto is all about decentralized and their is no regulation in the world yet to really require such details, I will like to know everyone minds about the submission of our details in term of KYC .

I personally dont like KYC,  because I think crypto is anomymous.  But If the project is good,  I agree to share my identity.

[Xtinah]

Actually it does, it's required but I believe it should just be in few cases. It is for combating criminal acts and reducing scammers from participating in ICo's for malicious reasons. It's just to put a check. What's bad is that most ICo's require kyc now even for bounty hunters and it's risky putting your personal data out all in the name of kyc. Some of these projects are scam. I avoid any ICO with kyc these days because its getting too much so as not to fall victim.

[Fenix]

I believe that checking KYC for bounty hunters is generally illegal. This is an invention of the ICO teams; only investors can pass this KYC test. We do not invest in ICO projects by joining the ICO bounty campaigns.

[vegasus]

KYC (Know Your Customer) is Okay for those who want to buy the tokens or coins in certain ICO or projects. However if it is applied on the bounty or airdrop, I don't think that it is valuable.
The KYC is to know well your customer and it may be important for the investors.

[Ahmedalab]

There is no regulation in crypto yet so why should we give our details to unknow ico organizers, so claim to prevent some region in participating in the ico because of the country law but those ICOs comes from the same region and country that prevent their own citizen from participating, should we say they are using style to rob us or our details is being used for other purpose .

[Ahmedalab]

I think there is no problem if you don't fill in the Kyc.You can buy in a centralized exchange without having to fill in the KYC then you will get the tokens you want

[Confero]

I think that KYC depends on the Cryptocurrency program. If in the Crypto project related to Trade it is very necessary for KYC. Because what is feared is the number of people who cheat. But it's good before we do KYC, we have to make sure that the projects we follow are really good projects and can be accounted for. And don't do KYC on an unclear Cryptocurrency project.

[whitenem]

KYC is very important in ICO and Boundy to reduce fraud from investors and participants such as funds coming from crime proceeds to be used for investment or reduced cheating participants in the bounty campaign.

[Abdee]

although there are other projects that use their clients for other things or online publishing while some do not have enough security to protect customer details against third-party threats so that I think is necessary for regulation and to curb unnecessary manipulation in the market index