A catch in the blockchain.com XLM airdrop - KYC ! Thoughts ?

sunsilk

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Quote from: zeit!geist on April 11, 2019, 04:05:22 PM

thank you!
so i´m out of this.
why giving out documents, which are sufficient to open a bank account, for a lousy $25. Roll Eyes

You're welcome.

Yes, there's no sense to give out your documents for the sake of $25 worth of XLM. You can even get it through trading or spending your spare money. There were people who claimed it and it's their choice, there's two purpose of it.

Account upgrade for their blockchain.com account
$25 XLM

zeit!geist

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thank you!
so i´m out of this.
why giving out documents, which are sufficient to open a bank account, for a lousy $25. Roll Eyes

sunsilk

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Quote from: zeit!geist on April 11, 2019, 03:35:49 PM

what personal documents do they require for KYC?
just ID?

With the first level, it requires you some info of yours and that will allow you as a Silver labeled account with $1,000 max of swapping.

This is the last step that I didn't pursue.

Quote from: https://login.blockchain.com/en/#/swap

Last Step. Let's Confirm It's You

We need to confirm your identity with a government issued ID and selfie. Before proceeding, make sure you have one of the following forms of ID handy and your camera is enabled.

Government Issued Passport
Driver’s License
National Identity Card

zeit!geist

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what personal documents do they require for KYC?
just ID?

ifontaine

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I was quite surprise and a bit suspicious about the issue of KYC but after doing some research & thinking, I believe KYC wasn't an option for them, they still have to follow legistlations.

How could they prove they really give away their XLM and not use an airdrop for money laundering, how can they make sure someone does not create hundred of accounts to receive thousands dollars worth of XLM, etc. KYC is probably the only way for them to do a lawful airdrop as a foundation located in the United States.

timerland

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Quote from: Mirae on November 08, 2018, 05:52:37 AM

So blockchain.com is doing a $125mil XLM giveaway to their users, but they require a KYC to be done to qualify for it. I have seen a lot of people absolutely hate on them for that, what are your thoughts ? Do you think its basically a “Give us your personal info for $25” situation or are they really just doing it for the airdrop not being absolutely exploited by greedy scammers ?

I don't think that anyone trusts blockchain.com anymore like they used to after their promises were completely broken.

But this does seem like a way of getting people to hand over their personal information, be able to link that personal information to the blockchain.com wallet that they are using, potentially, and match transactions to a person.

I'd be cautious of this due to the fact that you're handing over personal ID to a company which has really not upheld a lot of their promises in terms of implementing features like Segwit, but handing over personal information to any third party service that deals with your finances over the internet is a risky proposition. At the very least, if you really want the airdrop, then don't use blockchain.com as your primary wallet afterwards.

1Referee

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Quote from: LeGaulois on November 16, 2018, 02:26:38 PM

BTW, did you guys noticed? On blockchain.com "Bitcoin" is not mentioned a single time (excluding the sticker price) Roll Eyes

I noticed that too recently. It seems that they are planning to become more of an all round platform rather than just a site for Bitcoin, but that's not an excuse to blank out the Bitcoin part.

If you visit; https://www.blockchain.com/ you'll see that they point out Ethereum explorer in full, but refer to Bitcoin's explorer as explorer, nothing more.

If you visit; https://www.blockchain.com/explorer you'll see that they point out Bitcoin explorer in full.

It surprises me that they haven't launched a BCash explorer yet. Roll Eyes

Stedsm

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Quote from: Mirae on November 08, 2018, 05:52:37 AM

So blockchain.com is doing a $125mil XLM giveaway to their users, but they require a KYC to be done to qualify for it. I have seen a lot of people absolutely hate on them for that, what are your thoughts ? Do you think its basically a “Give us your personal info for $25” situation or are they really just doing it for the airdrop not being absolutely exploited by greedy scammers ?

If you're worried about KYC thing and you also want their $25, you may try to give anybody's KYC (either from your family or a friend) but it's not less than carding, still it may get you something instead of nothing. One more thing here, you could also stop using blockchain.info's services after giving your KYC (but who knows what really the situation is, because when BTC.com could drag their mining hash power to BCH instead of BTC, anything could happen because one of those giants did try to add some glitches in blockchain.info after accessing its admin panel). IMHO, giving your KYC for $25 is not a good idea at all, even if it's such a trustable source like blockchain.info, but if you've already given your KYC at too many websites (like when ICOs ask you to do so to get their free airdropped tokens), then you're fine with this as well.

Potato Chips

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Quote from: Capt00 on November 21, 2018, 12:09:27 PM

Maybe this web wallet trying to avoid those abusers who used multiple accounts to farm the airdrops in XLM,

Could be, but there are other ways to do that because in the end, you can only prevent it. Others who has the ability to abuse the system will still exist.
But hey do you think blockchain.com will just give out money without a motive that ofc would benefit them? cause I don't think so. I mean companies don't do airdrops because they want to give out free money, its because they want to promote their coin.

Bottomline is, there must be a reason on why blockchain.com required kyc and it must be some kind of marketing strategy again, that ofc would benefit them.

Quote from: Capt00 on November 21, 2018, 12:09:27 PM

one of the trusted web wallet is this blockchain.com. Many crypto enthusiasts are currently using on this web wallet those who can't afford to buy in the offline wallet because you need to purchase on it.

You don't really need to use hardware wallets, you could get a desktop wallet which is free and is more safer than web wallets.

Quote from: Capt00 on November 21, 2018, 12:09:27 PM

I personally passed my KYC on that web wallet I didn't hesitate my self to exposed my personal data because I trust that site.

Well good luck to you. But the thing about trust is, it doesn't guarantee anything, its just there to make us feel safe. At the end of the day, we're all just betting on chances.

Capt00

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Quote from: shield132 on November 14, 2018, 05:45:47 AM

Quote from: electronicash on November 13, 2018, 02:27:24 PM

a lot will fall for that $25 though.

it feels the government is behind it. its my paranoia but ICOs and exchange collecting all the data is somewhat SEC related. once all the mandatory collection is done, no one escapes from it, then they can now do anything. just as how national ID works.

I highly believe they'll require KYC in future and say: If you want to use our service, upload documents or go away.
Of course for some of us it doesn't matter because we rarely use blockchain.info but... people who would agree that proposal, better to do it now and benefit from them. On another hand who will "fall" for 25$, is that a problem? Some people don't care if their identity is protected or not, money is important for them at the moment.

Maybe this web wallet trying to avoid those abusers who used multiple accounts to farm the airdrops in XLM, one of the trusted web wallet is this blockchain.com. Many crypto enthusiasts are currently using on this web wallet those who can't afford to buy in the offline wallet because you need to purchase on it. I personally passed my KYC on that web wallet I didn't hesitate my self to exposed my personal data because I trust that site.

electronicash

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Quote from: magneto on November 19, 2018, 03:25:03 AM

Quote from: Mirae on November 08, 2018, 05:52:37 AM

So blockchain.com is doing a $125mil XLM giveaway to their users, but they require a KYC to be done to qualify for it. I have seen a lot of people absolutely hate on them for that, what are your thoughts ? Do you think its basically a “Give us your personal info for $25” situation or are they really just doing it for the airdrop not being absolutely exploited by greedy scammers ?

It definitely seems to me like a way to gain customer information off people.

Again, blockchain.com seems to be trying to gain more and more control over people's wallets and details without actually getting the users too suspicious about all this that is happening right now.

Unless you're 100% comfortable with the fact that blockchain.com will be able to now potentially trace your transactions back to your real name and ID (even though they would definitely claim that would never happen), and you're essentially entered into their records for an undesignated amount of time, then avoid this. It's simply not smart, especially when blockchain.com has not been the most trustworthy entity over the past few months/year.

users trust blockchain.info so much that they store btc on its wallet. users has their mnemonic phrase but the problem is that it is still an online wallet just as an exchange wallet. in real life, they can destroy someone'd life with just a click, make you bankrupt or lose all your credits so long as they have the access of your accounts.

magneto

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Quote from: Mirae on November 08, 2018, 05:52:37 AM

So blockchain.com is doing a $125mil XLM giveaway to their users, but they require a KYC to be done to qualify for it. I have seen a lot of people absolutely hate on them for that, what are your thoughts ? Do you think its basically a “Give us your personal info for $25” situation or are they really just doing it for the airdrop not being absolutely exploited by greedy scammers ?

It definitely seems to me like a way to gain customer information off people.

Again, blockchain.com seems to be trying to gain more and more control over people's wallets and details without actually getting the users too suspicious about all this that is happening right now.

Unless you're 100% comfortable with the fact that blockchain.com will be able to now potentially trace your transactions back to your real name and ID (even though they would definitely claim that would never happen), and you're essentially entered into their records for an undesignated amount of time, then avoid this. It's simply not smart, especially when blockchain.com has not been the most trustworthy entity over the past few months/year.

LeGaulois

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Not worth to give out your personal information to an entity that you never know what they will do with it just for some few bucks. Jesus, for money people, can do anything... They're asking it to stop people claiming more than what they should. They will have a use of your infos, don't worry.

BTW, did you guys noticed? On blockchain.com "Bitcoin" is not mentioned a single time (excluding the sticker price) Roll Eyes

shield132

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Quote from: electronicash on November 13, 2018, 02:27:24 PM

a lot will fall for that $25 though.

it feels the government is behind it. its my paranoia but ICOs and exchange collecting all the data is somewhat SEC related. once all the mandatory collection is done, no one escapes from it, then they can now do anything. just as how national ID works.

I highly believe they'll require KYC in future and say: If you want to use our service, upload documents or go away.
Of course for some of us it doesn't matter because we rarely use blockchain.info but... people who would agree that proposal, better to do it now and benefit from them. On another hand who will "fall" for 25$, is that a problem? Some people don't care if their identity is protected or not, money is important for them at the moment.

felicita

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ok firstly thanks for that announce.
Since my last long on blockchain was at january XD
now i joined the waitlist XD since i borth bitcoin with blockchain they still know me Cheesy

regards

electronicash

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a lot will fall for that $25 though.

it feels the government is behind it. its my paranoia but ICOs and exchange collecting all the data is somewhat SEC related. once all the mandatory collection is done, no one escapes from it, then they can now do anything. just as how national ID works.

milewilda

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Quote from: sunsilk on November 11, 2018, 09:07:25 AM

Quote from: LTU_btc on November 08, 2018, 07:33:32 PM

But I'm not going to sell my identity for 25$.

This is it. I'm not also going to sell my identity just for $25. At the first look, I thought it was a cool airdrop that which what airdrop really means. Free for nothing, no need for any requirement at all, you just need to follow some small task such as signing up.

But in today's time, most of these airdrops are being abused like you all said and our identities will be collected for whatever purpose they will come up with it in the future. Well, good luck to those that are going to send their identities for XLM airdrop.

I dont really even see a single reason why would i do such dumb thing on where giving out my information just for a few dollars. There really might be something on this one because as we all know
as a sort of airdrop it would really be completely free but this one i cant believe that they do require out information for you to claim. We wont able to tell or know on where these
information being accumulated would go after that. Majority of us would disagree with this arrangement but expect that there would be always greedy bastards will jumped in.

1Referee

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Quote from: LTU_btc on November 08, 2018, 07:33:32 PM

But I'm not going to sell my identity for 25$. It's not because I don't trust them. It's because I'm using their service just as a web wallet and I don't see any reasons why they would to know my identity. But who knows, maybe in future they will require KYC in order to use web wallet...

It's a smart marketing trick from their side. If people verify themselves there, it's way more likely for these people to start pumping fiat into their service, because those who aren't verified will likely never deal with their exchange service, and thus it won't generate Blockchain any revenue/profit. People have to look through all this.

On top of that, I would never ever stimulate anyone to use a service working against Bitcoin. Blockchain is a parastitic infection with how Roger Ver is doing everything he can to not allow that service to use Segwit. Don't reward these bastards.

sunsilk

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Quote from: LTU_btc on November 08, 2018, 07:33:32 PM

But I'm not going to sell my identity for 25$.

This is it. I'm not also going to sell my identity just for $25. At the first look, I thought it was a cool airdrop that which what airdrop really means. Free for nothing, no need for any requirement at all, you just need to follow some small task such as signing up.

But in today's time, most of these airdrops are being abused like you all said and our identities will be collected for whatever purpose they will come up with it in the future. Well, good luck to those that are going to send their identities for XLM airdrop.

bL4nkcode

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Quote from: FleurTunisienne on November 09, 2018, 10:57:15 AM

Any kind of service in the crypto world, that needs or asks for personal user's data is in direct contradiction with the appeal for freedom held by system creators and enthousiasts. I would never recommend to anybody to use or join any platform thet ask for personal documents. Use free wallets, decentralized exchanges, and think about anonymous investment.

But most service that relates crypto to fiat transaction requires it, so you have to deal with it or go for p2p of course with trusted people. But for things like airdrop that requires KYC procedure is just crap, selling your personal info for $25 is bullshit.

Quote from: LTU_btc on November 08, 2018, 07:33:32 PM

But who knows, maybe in future they will require KYC in order to use web wallet...

Then its the fall of their wallet service or any web wallet that requires it, I'm pertaining to wallets having crypto to crypto transactions only, not crypto to fiat or vice versa since it really needs it.

FleurTunisienne

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Quote from: Mirae on November 09, 2018, 12:44:00 AM

Quote from: LTU_btc on November 08, 2018, 07:33:32 PM

snipi

KYC for using web wallets would destroy the biggest purpose of crypto - anonymity
really hope it wont come to that

Any kind of service in the crypto world, that needs or asks for personal user's data is in direct contradiction with the appeal for freedom held by system creators and enthousiasts. I would never recommend to anybody to use or join any platform thet ask for personal documents. Use free wallets, decentralized exchanges, and think about anonymous investment.

Mirae

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Quote from: LTU_btc on November 08, 2018, 07:33:32 PM

When I saw title of this thread I thought it's just another attempte of scammers to steal private keys of people with fake giveaways. It's very popular to post such fake giveaways on Twitter with name of popular exchanges and wallets. Now I visited Blockchain.com and realised this is real thing. And I don't like this idea. Most of exchanges and wallets warning their users that they aren't giving money for free. Now when there was real giveaway from Blockchain.com, scammers may try to use this kind of schemes more actively and it will be easier to find victims.
Back to the topic. Blockchain.com at least aren't hidding fact that they will ask for KYC to be eligible for airdrop - it's stated quite clearly on their website. But I'm not going to sell my identity for 25$. It's not because I don't trust them. It's because I'm using their service just as a web wallet and I don't see any reasons why they would to know my identity. But who knows, maybe in future they will require KYC in order to use web wallet...

KYC for using web wallets would destroy the biggest purpose of crypto - anonymity
really hope it wont come to that

LTU_btc

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When I saw title of this thread I thought it's just another attempte of scammers to steal private keys of people with fake giveaways. It's very popular to post such fake giveaways on Twitter with name of popular exchanges and wallets. Now I visited Blockchain.com and realised this is real thing. And I don't like this idea. Most of exchanges and wallets warning their users that they aren't giving money for free. Now when there was real giveaway from Blockchain.com, scammers may try to use this kind of schemes more actively and it will be easier to find victims.
Back to the topic. Blockchain.com at least aren't hidding fact that they will ask for KYC to be eligible for airdrop - it's stated quite clearly on their website. But I'm not going to sell my identity for 25$. It's not because I don't trust them. It's because I'm using their service just as a web wallet and I don't see any reasons why they would to know my identity. But who knows, maybe in future they will require KYC in order to use web wallet...

SFR10

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Quote from: Mirae on November 08, 2018, 05:52:37 AM

Do you think its basically a “Give us your personal info for $25” situation or are they really just doing it for the airdrop not being absolutely exploited by greedy scammers ?

Well, they claim it's the latter but surely there's a hidden agenda "somewhere"...

Quote from: Mirae on November 08, 2018, 06:06:49 AM

yea its stated somewhere on the lower section of the site, after you subscribe

Even before subscribing (joining the waitlist), you can see/spot it on the lower section of that page.

Quote from: Mirae on November 08, 2018, 06:06:49 AM

my guess is that they will use the inbuild kyc system they have for their exchange.

That's one way of using it but I have a bad feeling about it (e.g. They didn't mention how they're planning to keep those information [it's an online wallet so it's quite risky, like other similar services on this field], AFAIK).

Mirae

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Quote from: bL4nkcode on November 08, 2018, 06:00:15 AM

I subscribed my other email to this giveaway but never know that it will require any KYC procedure (I never read the whole statements below btw). If so, then who cares for their 25 bucks anyway.

To those who have many documents gathered from ICO participants especially those who have malicious intention then it will be abused.

yea its stated somewhere on the lower section of the site, after you subscribe and when they will email you that its your turn to get the xlm you will need to confirm your identity, my guess is that they will use the inbuild kyc system they have for their exchange.

bL4nkcode

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I subscribed my other email to this giveaway but never know that it will require any KYC procedure (I never read the whole statements below btw). If so, then who cares for their 25 bucks anyway.

To those who have many documents gathered from ICO participants especially those who have malicious intention then it will be abused.

Mirae

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So blockchain.com is doing a $125mil XLM giveaway to their users, but they require a KYC to be done to qualify for it. I have seen a lot of people absolutely hate on them for that, what are your thoughts ? Do you think its basically a “Give us your personal info for $25” situation or are they really just doing it for the airdrop not being absolutely exploited by greedy scammers ?

Topic: A catch in the blockchain.com XLM airdrop - KYC ! Thoughts ? (Read 476 times)