# Properties of user-issued tokens

* Transferable/non-transferable _(Non-transferable tokens can be sold via crowdfunding campaigns and traded, but cannot be transferred.  Transferable — can be sold via crowdfunding campaigns, traded, and transferred.)_
* Requires KYC/doesn’t require KYC _(this is referred to the KYC of those who want to acquire this token. Unverified users are not able to invest, trade, transfer, and even receive the tokens with the **Requires KYC** property.)_
