Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: zarko on November 05, 2018, 05:04:59 PM
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Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
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Buyer verification is important to comply with regulations. many money laundering cases that use crypto for crime. if according to the government, Kyc is needed, the ico project organizer must do it.
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It was an option, I saw several ico projects that did Kyc like Cibus, Cibus benefited a lot after a few weeks and the tokens were listed on the exchange, their web pages, whitepaper, and Tim disappeared.
there is no guarantee that the data you provide will be safe or not? I will see the project details before doing so.
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I see from the good side that KYC can filter fake bounty hunters, with information about biodata to be accurate so that it will be difficult to cheat, bounty hunters to participate in projects with multiple accounts.
Even you say that KYC helps reduce fraud projects, I think it's good to implement
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I do not know about you but it is a common practice now that founders or developers put their contact details (usually thru linkedin) on their own website so I do no think there is a need for KYC for "sellers". It is up to you now as an investor to verify if the info posted by the team is legit.
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actually its safe and risky both.
but i think the project which taking kyc in ico will not use kyc info to negative things.
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If this applies specifically to investing in ICO, then yes, KYC is needed because it is not known who can invest in the company and then there will be problems because of this, but not all companies apply KYC for investments in their project.
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I don't see any reason to collect KYC documents from the investors to use in the project, but on the other hand, they need to eliminate some people for a reason.
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I think it is better for investors and not necessarily for bounty hunters because we are like employees of the projects and not investor. many has complaint having do KYC for bounty which i have considered in my opinion, needless exercise becuase hunters are meant to promote the project through many social networks.
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KYC for ICO is not a bad idea at all, the only issue with KYC is when the company who run the KYC turns scam, then all those who submitted their information may be in problem.
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Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
Hi,zarko.You should use search button before you start tread like this one.Guess what,i have used search button and i´v found this tread at BCT forum.Hmm
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Yes KYC is not a bad idea, but it will be good for the investors and not the employees. Althiugh through KYC the bad bounty hunter's can be eliminated.
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KYC is now required for 99% of ICO and I really pay attention to ICO that do not require KYC because it's mandatory in most of countries so the can be potential scams
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yes I think KYC is needed for ico to avoid fraud and money laundering but I'm a little bit afraid that the data I provide can be safe and the fear is flat that I give it to use for. crime
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KYC is now a big process that all projects use in other to know more about their investors/buyers. On the other hand, if the company that is carrying out the KYC process is a scam, then the project itself is also a scam. And at that point, one will find difficulties to know whether the project is a scam or not. But KYC is a good development for all ICOs to take, as part of their screening process.
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Most of ICO require KYC/AML and this must be finished for you to be qualified to put resources into their undertaking. This is on the grounds that occupants or nationals of specific nations like China, USA, and so forth are normally exempted from taking an interest in many ICOs, so with the end goal to guarantee there are no infringement of the principles, KYCs should be finished. Additionally, ventures do it inspired by a paranoid fear of the SEC and I believe it's a smart thought, with the end goal to keep running into issue with them.
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I think it is a bad idea to have a KYC procedure in a decentralise world of crypto currency.Giving your personal information to unknown people will compromise your security.You are also not sure if those who collect the data are trusted or not because selling personal data in the darkness is rampant.
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there are many perceptions about kyc in ico. with the existence of kyc, we must collect our personal data and many think that it will be risky. but the advantage is that with the presence of Kyc, we will avoid all forms of cheating in ico.
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To Know Your Customer is necessary to implemented specially if the project intended just for the particular citizens. This action is secure to handle the business safe and everybody is under control.
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we see from the positive kyc can be used to see who our coin holders from where they come from and their sex and can also be used as a benchmark to find out how many investors hold our assets.
the negative if information about kyc leaks or falls into the hands of irresponsible people, kyc can be used for falsifying data and other frauds that harm others
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seeing the development of ICO scam at the end of this year made me cancel my intention to do KYC because I was afraid my data would be misused for other needs by the developer to know other parties with the purpose of crime
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I know we must not trust anybody but because of kyc matter I think submitting our personal basic information means we trust the person behind the project who ask KYC. Risky but let us trust them.
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I agree that KYC is necessary for ICO projects. But you need to go through it very carefully, so as not to send your documents into the hands of fraudsters. Therefore, if you trust the project 100%, then without any problems go through KYC.
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KYC for investors yes,in this way prevent to participate on token sale citizen for resticted country(usa,china),and people can't use multiple accounts.
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At the moment, I think it would be a good idea for ICO investors to demand publlic KYC by the team members of any ICO project... they demand KYC for investors, so I don't know why it shouldn't be the same for them... if they want to ask for money, at least they prove their identities...
this would maybe greatly increase the trust and get the ICOs back on the crypto scene...
don't know about the possibility to include this on the forum... I think this should be standard for every ICO... it is only a matter of the investors growing up and start demanding serious commitment from serious teams and exclude the scammers
cheers
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Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
KYC is good for ICO and bounty. It is to reduce the multiple account. But I doubt Your identity is secure.
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KYC for ICO investors I guess it doesn't matter. at least have the team and the project are clear enough for me to fill the KYC.
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actually its safe and risky both.
but i think the project which taking kyc in ico will not use kyc info to negative things.
I think that's a very good idea. but I doubt that KYC will scare away the scammers. They will not be difficult to forge documents and find people who will play the role of developers for money.
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many has complaint having do KYC for bounty which i have considered in my opinion, needless exercise becuase hunters are meant to promote the project through many social networks.
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KYC for ICO is good. If crypto will undergo serious regulation in the long run KYC will be one of the most useful tools for that. To some extent, KYC helps exchange to limit multiple registrations on their platforms. Customer identity is very important in any financial institution.
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KYC in ICO to stop illegal money to comes in the market and for verification of real investors as many countries want to know the investors identity and it is possible only through KYC documents.
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I think it is better for investors and not necessarily for bounty hunters because we are like employees of the projects and not investor. many has complaint having do KYC for bounty which i have considered in my opinion, needless exercise becuase hunters are meant to promote the project through many social networks.
I quite agree with you. Projects should make kyc mandatory for investors so that no fraudulent practice is done but bounty hunters should not be included. We are their employees.
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I support kyc for icos .
It is a way of preventing fraud etc.
But mandatory kyc for bounty hunters doesn't make sense as some of the rewards are too small for one to give up private details.
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Yes, you can do it if there really is a procedure like you say, there is no other choice and we must follow the rules if we want to invest, I think KYC procedures are good for all investors but the data security of the customers of the ico project must be absolutely safe
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KYC verification is very good for ICO because it avoids theft and to ensure that we have purchased it from the ICO
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KYC is a very good idea for ICO. From KYC scammer does not get any coin.
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I think it is better for investors and not necessarily for bounty hunters because we are like employees of the projects and not investor. many has complaint having do KYC for bounty which i have considered in my opinion, needless exercise becuase hunters are meant to promote the project through many social networks.
I quite agree with you. Projects should make kyc mandatory for investors so that no fraudulent practice is done but bounty hunters should not be included. We are their employees.
This is the business of the team itself. Developers are trying to work in accordance with the law. But it is completely incomprehensible to me why teams introduce mandatory KYC passing for bounty participants.
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I think it is a bad idea to have a KYC procedure in a decentralise world of crypto currency.Giving your personal information to unknown people will compromise your security.You are also not sure if those who collect the data are trusted or not because selling personal data in the darkness is rampant.
You've gat a nice point there, but on the other hand, you are making an investment into a project, and without your details known, its not clear. Its more like being transparent to the project you are investing into. Lots of organizations are now using KYC process. There is risk, but transparency is needed too.
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Well if truly KYC is for purposely what you stated then no worries, my only problem is given out your personal details to an unknown identity. If this continues for sometime then investors anonymity will be tempered.
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Kyc on ico projects is good but what I do understand is having to do kyc for bounties.
Despite the fact that it's the wages for your work ....so why do we have to go through that stress just because we advertised a project.
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It is good idea with the help of KYC they can stop fake parson to work on multiple ids but i would like to say kyc data must be in safe hands and make kyc process a bit easy for the user.
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I see from the good side that KYC can filter fake bounty hunters, with information about biodata to be accurate so that it will be difficult to cheat, bounty hunters to participate in projects with multiple accounts.
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KYC for ICO is a good ideas in the sense that it play a vital role , and prevent fake hunter from having access to our wallet or investment.
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It would be a very good and useful idea if at such forums the ICO team also went through a similar KYC check. Perhaps this would reduce the percentage of fraud among them and the popularity of ICO projects would increase.
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KYC doesn't seem to be good because you have to be able to submit your identity to be able to get tokens and that will make your privacy not be saved properly because someone knows your privacy.
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Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
For me KYC is good if we can sure that our data is in safe hands. Since it is required by the law with (AMLC) for anti money laundering operation worldwide. But if the KYC data is not safe its better not to do the procedure.
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KYC is good but sometimes it is also bad, the good part is that it helps to detect the real people and fake people, while bad is when the project turns scam then you may be in danger.
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KYC is the right choice for dealing with fraud. But before you fill out the KYC form, it is good to check the project you chose first, whether it is legit or doubtful. Because I'm afraid, KYC data will be misused for cyber crime.
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That is good for an ICO, because the ICO now has a legal umbrella to protect so that the ICO does not become a SCAM or fraud.
But if KYC is used for Bounty and Airdrop then I refuse.
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kyc is a rule in an ico. however we must obey it so that we can join in it. with kyc we have to collect our personal data and it makes a lot of people afraid. many people who are not responsible and misuse someone's personal data for personal purposes. then from that we have to be careful in choosing ico.
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Kyc is good a times to minimize illegal purchasing of coins or token which has a stipulated amount for each traders. Its also bad because a times they do accept only international passport which majority of us can't afford fr now
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KYC is a good idea but it should be demanded at the start of the bounty program so that any shortcomings may be fufiled before the start of the bounty otherwise it causes regret it later stage.
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kyc is a rule in ico so we must be able to obey it. with the existence of Kyc, we must collect our personal data. that's good because it will reduce the fraud from some person. but if the data is not used properly then we will also get the the risks. so we must be more carefull to follow an ico.
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You are making a point here, from all observation it is only bounty hunters and investor that the issue of KYC is affecting. Most of the projects the true identity of the developers are team members are not known. It will be better and secure if all the team members of all the projects that are asking for KYC first show the whole public their true identity before demanding KYC from investors.
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I think this is a good idea because there are a lot of people in the market who are involved in money laundering. I would like the ICO to be finally regulated, then there will be fewer scams among developers, and we will be sure that they will pay for the work.
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Kyc means know your customers.. Is a good process of identifying real customers. It is a better system of avoiding scammers. I support this process very much.
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It is good but I think it can help to know is investing in a particular project. But what if the project turn scam,, what will happen to those who submitted their information?
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I think that with the Kyc system, we will also feel safer and reduce cheating from some people. but we also have to choose a good ico in order that our personal data is not misused by irresponsible parties.
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Till now, I am the one who is still doubt to send my personal identity with KYC procedure. I don't see it secure, no guarantee for the safety of my secret data. I know that a project needs the KYC to ensure a participant or an investor not a fake / fraudster. But will they guarantee the safety of the identity? It is still a big question.
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yes, you could do it if there sincerely is a system such as you say, there's no other choice and we should comply with the rules if we want to make investments, I assume KYC procedures are top for all traders however the data protection of the clients of the ico task need to be virtually safe.
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Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
I find nothing wrong if a company decide to run KYC for both investors and bounty hunter for it is for the benefit and security of both parties.
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Actually, KYC is only procedural for licensing regulations for projects that will run. I think if you have to do KYC for bounty hunters there is no problem if the purpose is to do legality. Because before the permit is issued there must be an audit first that requires KYC. However, if the problem is KYC for bounty hunters who do not need KYC and force KYC for participants to avoid farmers' accounts I think it is not right. Because the main function of the gift is to introduce to many people. Whatever your way, we don't care.
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Personally, I think KYC is needed because it is good to distribute gifts that are right on target and avoid cases where many people intentionally cheat to get many profit.
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Of course, ICO teams must be more thoroughly tested than investors sometimes pass in connection with the ongoing KYC audit. And it will be much better if such checks are carried out by state structures. To do this, they have much more authority.
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KYC was initiated for the purpose of investors in order to know to know there costumer who do business with them
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KYC is a process to submit our personal identity. I am afraid with this process, I don't know if it is safe or not. Can anyone explain to me that it is secure? I think no one said it. This is the reasons to not believe in KYC.
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Well the SEC just cracked down on a couple of ICOs, so if the ICO wants in on the US market, it's in their best interest to do everything the SEC requires including KYC.
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It is an optional for us if we will give our data as required by KYC.For me this is a good idea buy we can not assure if all our personal details are safe.I always look for the Bounty campain project if it is secure to comply with their KYC.
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if we can choose a trusted bounty then it will be good because it will reduce the cheating by some people. but if we choose a bounty that is not trusted then it will be risky because our personal data can be used for things that are wrong.
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to be honest it's so dominated that would amendment at any time indicate that the team was affected not prepared or immature with initial rules are created. it's sort of a mess and not serious in winding up the project. however if there's an issue then amendment the rule still should be allowed for the great and swish running of the project. as long because it continues to be inside the bounds of affordable and doesn't hurt either party then it's not an issue.
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KYC is a screening process that filters fake bounty hunters, so I think it's necessary. Some ICOs require KYC for their investors, maybe to get to know them better
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Rather if it good or bad.KYC is mandatory in some country to comply with the law.If you want to join the ICO,you must pass KYC process to verify that you are eligible to join.
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I don't think any legit ico would risk doing a sale without a kyc. Even i hate doing kyc's if ico don't ask for a kyc it probably a scam.
On the other hand, scam icos understand that and they are also asking a kyc.
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KYC is a good idea It is helpful in transparency.
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Maybe yes maybe no.but for me better to do not give your personal information here in crypto currency because they have possibility that they use it to other.ICO no need to use KYC because you invest your money and they don't need your information, because what ever to happen you will be benefit or sacrifice.
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I think KYC (Know Your Customer) is very good for ICO, because this rule makes investors list the origin of the funds that will be used to buy ICO, so that investors who will wash their money in cryptocurrency cannot wash it in the crypto world, and make the crypto world is not polluted.
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This step is purposely done with specific and special purpose to know the person (costumer) whom project partners. KYC is a wise decision to stop the fake persons who participate in the project. THE REAL PROBLEM IF THE PROJECT IS THE MAIN PROBLEM IF IT IS FAKE. That's the risk of complying KYC at the end waste of time
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There are always mixed views on one thing, positive as well as negative. I think KYC is good for investors but not good for bounty hunters.Because through KYC our personal information can be exposed to the world.
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Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
I think It is good idea for investing $5000. It should use KYC. Because too many scams now. But I personally dont agree with KYC. It is not anonymous again.
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Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
If you mean investing on ICOs, yes KYC is a good idea to prevent other investors cannot violate any law on their countries.
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Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
KYC is the best requirement to kick away those bounty abuser and to a fear on every participants. But being scammed and submitted a kyc is your own risk, much better to be review properly and be vigilant.
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Many do not go kyc and do not buy coins during the ico. It is much easier to wait for the release of the coin and buy without additional restrictions at a more attractive price.
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The KYC procedure for ICO is a very good idea. In making investments made investors must do KYC and this is very important to recognize customers. And KYC is now used for Bounty and Airdrop participants. From my experience using KYC is very good and the project can definitely achieve success.
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In all those businesses we must have a clear identity and that is definitely done with KYC.
The ICO business can generate billions of money and it is very important, because when there is a misunderstanding, then I can easily find people who already have KYC.
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It is good move to ask a little bit information from your costumers to have an idea where they came from and what are their personal views as possible. I believe that it is risky because once you submitted your basic information possible that they will use your identity in unwanted situation.
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The procedure for using KYC is good and all ICO projects for prizes can use KYC.and implementing KYC has very positive things and can reduced the use of many accounts.How ever,you must be careful in this matter and do not easily sent your personal data to others.