Quote from: Wintersoldier on Today at 07:01:17 PM

In my own personal opinion, KYC isn't bad for cryptocurrency because the only reason why a project requires a KYC to avoid multiple accounts and for them to trust their participants. The bad thing about KYCs is if a project is a fraud or scam because they can steal your informations and used in their illegal activities.

KYC involves sending the scanned copy of your passport (or some other important national ID document) to relatively unknown people. And in today's world, this is one of the riskiest things to do. If you are investing $10 or $20 in a project, will you be willing to take this risk? If the real intention is to prevent multiple applications from the same individual, then some other method such as telephone verification can be used.