Topic: 🔴 🔴 🔴 Attention: KYC for Bounties 🔴 🔴 🔴 - page 2. (Read 1114 times)
If it requires only scanned copy of KYC then it should be considered, still, at the time of bounty, we need to register it first so i guess KYC idea is somewhat not needed.
Is it worth the risk to give your personal data to some new/unknown companies?!? 
I thought ICO`s are using this Know Your Customer thing just because there are big amounts involved and because they need to restrict the US and Chinese citizens. But requiring KYC for some $20 bounty tokens seems crazy for me. I understand that they must comply to local regulators, but there will be always some countries where crypto rules won`t be so strict - so I`ll try to involve myself into the projects from those countries.
Yes, there is certainly a risk. Now I'm participating in the bounty campaign of the Beluga Pay project and what should I do if they force me to pass KYC? I have been participating in this project from the very beginning and I will have no choice but to pass KYC. I thought ICO`s are using this Know Your Customer thing just because there are big amounts involved and because they need to restrict the US and Chinese citizens. But requiring KYC for some $20 bounty tokens seems crazy for me. I understand that they must comply to local regulators, but there will be always some countries where crypto rules won`t be so strict - so I`ll try to involve myself into the projects from those countries.
That's the thing. As a bounty hunter you can't just throw away many weeks and even months sometimes of work when they ask for KYC. You have no choice but to provide it or you will lose a lot of money. And even if you ask before you start the bounty they might say no KYC needed but when its time for distribution they suddenly ask for it.
IMHO bounties doesn't require KYC, I always avoid bounties that ask bounty participate to undergo KYC where most of them will receive less than $100 and highest won't pass $2. So I think it is not necessary for KYC for bounty.
More and more bounty campaigns want you to do a KYC and send them all your personal data (id card, driver's license, address, phone number...).
Guys, don't easily give your personal data away and risk an identity fraud or identity theft.
What is identity fraud?
What are the consequences of identity fraud?
- False applications for loans and credit cards
- Fraudulent withdrawals from bank accounts
- Fraudulent use of telephone calling cards or online accounts
- Obtaining other goods or privileges which the criminal might be denied if he were to use his real name
What Can You Do If You've Become a Victim of Identity Theft?
- Call the companies where you know the fraud occurred
- Place a fraud alert and get your credit reports
- Report identity theft to the FTC (IdentityTheft.gov)
- file a report with your local police department
References:
https://en.wikipedia.org/wiki/Identity_fraud
https://www.justice.gov/criminal-fraud/identity-theft/identity-theft-and-identity-fraud
Be careful with the personal data you share online.
Guys, don't easily give your personal data away and risk an identity fraud or identity theft.
What is identity fraud?
Quote
"Identity fraud is the use by one person of another person's personal information, without authorization, to commit a crime or to deceive or defraud that other person or a third person. Most identity fraud is committed in the context of financial advantage, such as accessing a victim's credit card, bank or loan accounts. False or forged identity documents have been used in criminal activity (such as to gain access to security areas) or in dealings with government agencies, such as immigration. Often today, the identities of real persons are used in the preparation of these false documents."
It simply means that someone can use your identity to commit crime in any possible way.What are the consequences of identity fraud?
- False applications for loans and credit cards
- Fraudulent withdrawals from bank accounts
- Fraudulent use of telephone calling cards or online accounts
- Obtaining other goods or privileges which the criminal might be denied if he were to use his real name
What Can You Do If You've Become a Victim of Identity Theft?
- Call the companies where you know the fraud occurred
- Place a fraud alert and get your credit reports
- Report identity theft to the FTC (IdentityTheft.gov)
- file a report with your local police department
References:
https://en.wikipedia.org/wiki/Identity_fraud
https://www.justice.gov/criminal-fraud/identity-theft/identity-theft-and-identity-fraud
Be careful with the personal data you share online.
Thank you for the Merit, I appreciate it much.
I agree. If KYC for Bounty Participants become a thing, I am out! Way too many scams are out there and it's really harder and harder to stay away from them.
Sooner or later we will all be victims to fraud.
Bounty hunters are not of such interest with financial criminals as investors. This is my opinion. Every ICO asks them to go through KYC procedure and who may e er guarantee you that this information will be safe somehow?
I also think this is completely dishonest. Perhaps it would be a bit more honest if the bounty hunters received as payment not 2% of the total amount, but for example %10 or even %15. For the sake of such amounts, I am ready to undergo the KYC procedure. 
Is it worth the risk to give your personal data to some new/unknown companies?!? I thought ICO`s are using this Know Your Customer thing just because there are big amounts involved and because they need to restrict the US and Chinese citizens. But requiring KYC for some $20 bounty tokens seems crazy for me. I understand that they must comply to local regulators, but there will be always some countries where crypto rules won`t be so strict - so I`ll try to involve myself into the projects from those countries.
Yes, there is certainly a risk. Now I'm participating in the bounty campaign of the Beluga Pay project and what should I do if they force me to pass KYC? I have been participating in this project from the very beginning and I will have no choice but to pass KYC. I thought ICO`s are using this Know Your Customer thing just because there are big amounts involved and because they need to restrict the US and Chinese citizens. But requiring KYC for some $20 bounty tokens seems crazy for me. I understand that they must comply to local regulators, but there will be always some countries where crypto rules won`t be so strict - so I`ll try to involve myself into the projects from those countries.That's the thing. As a bounty hunter you can't just throw away many weeks and even months sometimes of work when they ask for KYC. You have no choice but to provide it or you will lose a lot of money. And even if you ask before you start the bounty they might say no KYC needed but when its time for distribution they suddenly ask for it.
This makes the whole thing so difficult for the clients or workers not to submit if the company has required it as part of the bounty. Is their really anything to submit as requirements other than this things? Maybe this has to be discussed within the company level and that such assurance that the details will not be used anywhere is something the company has to clear. How about making them pay for leaking out documents and ID's as part of the agreement. Maybe this will help.
Bounty hunters are not of such interest with financial criminals as investors. This is my opinion. Every ICO asks them to go through KYC procedure and who may e er guarantee you that this information will be safe somehow?
I still don't understand why KYC is needed for bounty. I mean, KYC is mainly used to prevent money laundry, counter terrorism and similar illegal things but we are talking about posting on bitcoin forum or retwiting few posts. I don't think we need to submit KYC for bounty, if one campaign ask for ID's then something is wrong.
It's bad that projects change their rules in the process or after bounty campaigns. We took part 1-3 month and after such I personally feel sorry for the time spent. KYC must be in rules from beginning!I still don't understand why KYC is needed for bounty. I mean, KYC is mainly used to prevent money laundry, counter terrorism and similar illegal things but we are talking about posting on bitcoin forum or retwiting few posts. I don't think we need to submit KYC for bounty, if one campaign ask for ID's then something is wrong.
It's bad that projects change their rules in the process or after bounty campaigns. We took part 1-3 month and after such I personally feel sorry for the time spent. KYC must be in rules from beginning!
I still don't understand why KYC is needed for bounty. I mean, KYC is mainly used to prevent money laundry, counter terrorism and similar illegal things but we are talking about posting on bitcoin forum or retwiting few posts. I don't think we need to submit KYC for bounty, if one campaign ask for ID's then something is wrong.
This is a shocker. But a number of projects have started to let u pass KYC in oredr to participate. Moreso there are so many new airdrops. People refrain from participating is such projects. Better to be precautious than to pay for it.
I do believe that is the procedure a complete mess!After all, the blockchain was originally conceived as an anonymous network and decentralized!Not only that exchanges require to undergo the procedure of "Know your client", so now in bounty it has become practiced!
Is it worth the risk to give your personal data to some new/unknown companies?!? I thought ICO`s are using this Know Your Customer thing just because there are big amounts involved and because they need to restrict the US and Chinese citizens. But requiring KYC for some $20 bounty tokens seems crazy for me. I understand that they must comply to local regulators, but there will be always some countries where crypto rules won`t be so strict - so I`ll try to involve myself into the projects from those countries.
Yes, there is certainly a risk. Now I'm participating in the bounty campaign of the Beluga Pay project and what should I do if they force me to pass KYC? I have been participating in this project from the very beginning and I will have no choice but to pass KYC. I thought ICO`s are using this Know Your Customer thing just because there are big amounts involved and because they need to restrict the US and Chinese citizens. But requiring KYC for some $20 bounty tokens seems crazy for me. I understand that they must comply to local regulators, but there will be always some countries where crypto rules won`t be so strict - so I`ll try to involve myself into the projects from those countries.
Is it worth the risk to give your personal data to some new/unknown companies?!? I thought ICO`s are using this Know Your Customer thing just because there are big amounts involved and because they need to restrict the US and Chinese citizens. But requiring KYC for some $20 bounty tokens seems crazy for me. I understand that they must comply to local regulators, but there will be always some countries where crypto rules won`t be so strict - so I`ll try to involve myself into the projects from those countries.
I thought ICO`s are using this Know Your Customer thing just because there are big amounts involved and because they need to restrict the US and Chinese citizens. But requiring KYC for some $20 bounty tokens seems crazy for me. I understand that they must comply to local regulators, but there will be always some countries where crypto rules won`t be so strict - so I`ll try to involve myself into the projects from those countries. I think that two main features about cryptocurrencies that attracted investors were anonymity and decentralization. So if we loose both of them, then we loose the nature of crypto. Upcoming regulations, KYC and other limitations will scare away a big part of crypto audience. I don't like the idea to share my personal data to unknown people, even if it's needed to get some tokens. So I'm not sure how to deal with it, because no one can guarantee the security of my personal information.
Yes, I fully support you, I also do not have any desire to provide my personal data and documents to unknown personalities. In addition, my country has a black market of passports and driver's licenses, I do not want my data to be there. 
I think that two main features about cryptocurrencies that attracted investors were anonymity and decentralization. So if we loose both of them, then we loose the nature of crypto. Upcoming regulations, KYC and other limitations will scare away a big part of crypto audience. I don't like the idea to share my personal data to unknown people, even if it's needed to get some tokens. So I'm not sure how to deal with it, because no one can guarantee the security of my personal information.
I can understand that KYC is needed for ICO's but there is no reason at all to use it for bounties. The whole idea of KYC is anti-money laundering. With a bounty there is no money invested at all so it becomes redundant.
I appreciate your comments, but many times we need to adhere to the rules mentioned. And if you want to participate in the bounty campaign, take risk (if any).
Yes! I said for a long time that you should not share your data on the network, because it's very dangerous, then no money and tokens will be able to help you if you suddenly get into any kind of trouble due to the fact that you have merged your data into the network
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