KYC in crypto, does it really require?

[Agalas]

I personally have pretty dry refer to KYC because it is a very dry system and test and identify them.

[Speaker]

Of course, the presence of KYC contradicts the true nature of cryptocurrencies, but we live with you in legal States and are obliged to obey certain laws.Whether we like it or not, KYC will. Perhaps we will see less manipulation, but the effect of decentralization will come to naught.

[showtime]

If I see that the project does not have KYC then I immediately lose interest in it, because the division of coins can be so random that it is difficult to imagine.

[Rituvohra01]

I think KYC is required for those who want to invest in ICO. Other wise their is no requirement for bounty hunters.

[rudox]

I agree with the ICO project team requiring KYC for their client who wants to invest by purchasing their coin. The team want to make sure that whatever money used to buy their coins are clean and from a real person. But what I do not understand is asking bounty hunters to pass through KYC. I really do not understand why.

[mimikri]

I seems that the KYC can be a sign of fraud. I saw a lot of ICO requiring a KYC but they had a fake team or their tokens depreciated after it entered the stock exchange.

[hsyncl]

I think kyc is really useful. furthermore, applications beyond Kyc should be reproduced. it is regrettable to see that many people's labor has been wasted.

[karateka]

I personally have not encountered KYC while working with bounty companies, but during participation in ICO it is quite a common thing.

[sturec22]

I personally think that it is not necessary, especially for us to send our passports to projects without being sure if their systems will get hacked or something else. There are tons of projects which don't ask for KYC, so what is the difference for those?

[diygirl]

I personally think that it is not necessary, especially for us to send our passports to projects without being sure if their systems will get hacked or something else. There are tons of projects which don't ask for KYC, so what is the difference for those?

It is true. We don't know what will happen to the project at future. Sending personal data like passports will be very risky, there is no guarantee at all. Some projects sometimes look strange to force the participants sending their personal data, especially for bounty or airdrop haunters. While many of projects just state for no KYC for bounty and airdrop hunters. But for investors, I think it is different case. KYC for investors is normal for me, not strange. 

[Pope]

If we consider KYC as a system of screening out bots and scams, then this is a pretty good way to do it.

[Dodo]

I see many ICOs need KYC but they have fake teams or their tokens depreciate after entering the market. It seems KYC can be a sign of fraud.

[Faell]

The main purpose of KYC is to identify investors and prevent the capture of most of the funds in the hands of one investor.

[Robiul789]

Only higher amount of investment should need Kyc but bounty hunting should not perform Kyc. Many bounty participants not have passport and national id card, however he can't participate Kyc application.

[Helex]

I think that KYC isn't a hassle however I certainly don't want to send my personal informations to perfect strangers.. there are some a success ICO challenge which have advanced KYC method the usage of a third component as escrow and that i assume this could be an excellent technique to make investor's facts more secure.