Topic: Bounty needs KYC to receive reward? - page 11. (Read 2343 times)
Bounty does not need KYC to get the reward, and I try not to participate in such projects where KYC is required
The implementation of KYC is very important and vital in crypto currency because it has help to curb theft and other illegal means of investing or earning stakes but KYC in bounty is useful if only it can be asked before participating in bounty campaigns not after participations.
The thing is, that a lot of bounty campaigns say that they require KYC almost by the end of the campaign itself, leaving the bounty hunters with no choice, otherwise they will get no rewards for their work.
KYC for Bounties is another attempt from scammers to steal your personal data and sell it for scammer's own profits. My advice: avoid every KYC to prevent a loss of your own data.
why it seems as if i trust bounties which require KYC is that passing KYC shows seriousness of that projects. which means that the project could be 80% real and investing into such project will also be cool
Or only some scammers searching for dumb participants which hand out their personal data for free.
why it seems as if i trust bounties which require KYC is that passing KYC shows seriousness of that projects. which means that the project could be 80% real and investing into such project will also be cool
For bounties KCY will only make sense and will protect the integrity of the project if only done by the correct people and management, the reason why many bounty hunters does not like KYC in the bounty program is because of the risk of their personal information being used against them, specially if the project is only being started without any assurance that it will deliver its promise.
This system has its own cons and pros and it's up to you if you want to participate or not in fact not all of the projects that launch bounty every day requires KYC if you are not a fan of KYC then avoid all those type bounties there's a bunch of campaign without it but be wary to encounter scam projects you may not know unless you've done some good research through the ICO as the last part of the OP point might happen to your information.
Agreed! you're right even if the project looks like legit after researching information but nobody knows if on the end will ending with scam.for example from my experience, i've passed kyc and bounty get paid but the token is not yet listed in the market then they made a drama as if there was chaos in the team when in fact all of it was deliberate, as a result the project suddenly disappeared even though from the beginning the project was very promising.
so back again it's up to you if you want to participate or not
Quote
This system has its own cons and pros and it's up to you if you want to participate or not
This system has its own cons and pros and it's up to you if you want to participate or not in fact not all of the projects that launch bounty every day requires KYC if you are not a fan of KYC then avoid all those type bounties there's a bunch of campaign without it but be wary to encounter scam projects you may not know unless you've done some good research through the ICO as the last part of the OP point might happen to your information.
You stated the problem and the solution and it helped my knowledge
I think not all bounties needs KYC
Just few projects that wants to prevent massive dumping of their token does that
As long as it’s a good legit project
You have no problem
I think not all bounties needs KYC
Just few projects that wants to prevent massive dumping of their token does that
As long as it’s a good legit project
You have no problem
Actually this is a good kind of discussion, well all of you've stated might be right the bounty hunters shouldn't need to submit a KYC documents it supposed to be for the investor of a certain project. Just to add to the solution, just remember that if you're not an investor you have the rights to claim your reward because you're just a promoter/worker of the project and they don't need to know your credibility as long as you do the task/job they've given to you.
I take it normal, the identification of investors and developers becomes an integral part of the development of large and successful projects.
I think the main reason is to avoid scammers. I remember in one project's bounty some guy asked admins to combine all his accounts in one to get whole amount of tokens. He has created about 1000 accounts with 50 tokens per each. And due to KYC he was not allowed to combine them.
i recently attended a bounty and overlooked that it demands kyc. but now i prefer to do without my tokens, rather than send my data. kyc is a thing for me that i am not supported.
Reasons:
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
- To get personal infos and used to illegal works (It might be right?)
All of those reasons are accepted but the bolded part would be the main for sure.
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
- To get personal infos and used to illegal works (It might be right?)
All of those reasons are accepted but the bolded part would be the main for sure.
If these are the reasons they give, for bounties it could be understandable as a lot of people participate in bounties with multiple accounts just to get more tokens. How they keep up with them all, I do not know. But when ICOs require the same KYC for investing in their token sale, what do they stand to achieve though?
SOME REASONS TO DO DO KYC FOR BOUNTY REWARDS:
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
Reasons:
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
- To get personal infos and used to illegal works (It might be right?)
All of those reasons are accepted but the bolded part would be the main for sure.
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
- To get personal infos and used to illegal works (It might be right?)
All of those reasons are accepted but the bolded part would be the main for sure.
If these are the reasons they give, for bounties it could be understandable as a lot of people participate in bounties with multiple accounts just to get more tokens. How they keep up with them all, I do not know. But when ICOs require the same KYC for investing in their token sale, what do they stand to achieve though?
usually when i joined bounty campaigns before i avoid bounty programs that needed KYC at the end of the campaign, i think its not worth it giving your information in exchange for a token, who knows what will they do with the information they have probably do some shady stuff.
Some bounties requires KYC while some don't. It's just to ascertain that you don't belong to countries that are restricted in crypto activities because of their laws.
Reasons:
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
- To get personal infos and used to illegal works (It might be right?)
All of those reasons are accepted but the bolded part would be the main for sure.
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
- To get personal infos and used to illegal works (It might be right?)
All of those reasons are accepted but the bolded part would be the main for sure.
Jump to: