Post
Topic
Board Altcoin Discussion
Re: Why KYC is important?
by
tyronecoinbit
on 10/09/2018, 08:03:56 UTC
KYC is necessary to defend people and their investments. For ex., it could be bounty participants where KYC helps to avoid multi-accounts. Also it could be ICO participants (for ex., to avoid buying all tokens with several investors).
there are many purpose for using KYC.even in a bank they use this methode too to consider the money source their clients.and also they can prevent money that come from criminal flow.

Probably for investors, the requirement KYC is justified, but for simple bountyhunters, I think this is superfluous. After all, they simply do their work, and do not launder illegal incomes.
agreed with you, but some cases even with KYC systems still final expected out come not satisfied. some how they will find way to enter or buy tokens even with high KYC rules and procedures. that is same for the bounties as well.
when there is KYC system then it will make scammers life bit difficult but they will find a way out.

Yeah and It makes a challenging task for those scammers to get all the way out. But I guess providing a KYC is really hard to get cheat because Its really needs your full Identities in order to received token In such a bounty, unless if you have a lot of friends to please used their personal info in order to validate your some account in one single bounty campaign.