Topic: Do I need KYC for generosity? (Read 800 times)
In my opinion, KYC should be for only investors, which invest large amount of money in ICO to prevent money laundering at the minimal level, in the case of bounty participant that help in promoting ICO projects to the general public in order to create awareness, I don't see any reason why they should also participate in KYC. They get only a small percentage of reward for promoting ICO projects, making KYC compulsory for bounty hunter is not expected.
In some countries, cryptocurrencies are equated to financial assets and according to the legislation of the country you must provide information about yourself for the possibility of obtaining them. But if this is not the case, then perhaps the developers are trying to collect your data to sell them.
KYC asking for ICO investment is good, as money laundering problem is occurring and to stop it is good, but asking KYC for bounty participation is not correct as bounty hunters are not investing any money , they are just advertising the ICO and in return they are getting reward and i dont think that anyone is asking details about the bounty participants details.
I consider KYC very useful because it is a measure of protection for project managers to stop creating false accounts, which is correct. But I think the KYC, which is asking more and more often, wants too much personal data from the participants, and that's not ok. It would be ok if this policy exists on both sides. The project team should also make their personal data public. Thus, there would not be so many SCAM projects on the crypto market, and investors would be much more open to investing.
Using KYC is no guarantee that the ICO project can succeed. And I think KYC will only waste time and many disappointing results. I personally also experienced this. I have done KYC, but until now I have not received a token.
I really don't want to give any personal information about me but as I participated in a projects that needed a secure method of participants I allow myself to provide it. And also to support the ICO is participated just like other investors we want to ensure our investments that it won't get scammed by othe people just like what they are doing to secure the projects.
If you are an investor what for have submit KYC and better keep run away from ICO needed KYC for investor, maybe as bounty hunter participants is good and better for submit KYC around of their bounty campaign joining.
Recently, more and more arguments have arisen that ICO generosity campaign participants really need to be tested by KYC in order for ICO teams to provide information that their tokens are distributed to specific people. In my opinion, this generally sounds like something stupid. Who and why should the ICO team provide such data? Tokens are not much different from any other product, and stating that merchants need to know who they are selling is stupid.
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?
I think we do not need to give our very confidential data just for this test? It is very much worthy if you join a campaign that needs KYC rather to just give it all the way. What might happen is unknown.
KYC has been a lot of complaints from bounty hunters. The Bounty project that uses KYC is considered unfair because Bounty hunters work for 2-4 months but because they don't pass KYC, they don't get tokens. I personally prefer this KYC pattern to be changed and KYC placed at the beginning of the campaign.
Since long ago, i still not fond with KYC, even if the reason is to filter any scammer of something like that. But the thing is all the bounty participant already doing their hard work promoting the project, so it's natural for them to get the reward they deserved without needing to do something complicated to have their right received.
they just don't want one person with a double account, so that the ico participant slots are met fairly. so kyc is very important to them.
Is unfortunate to see that this kyc thing has started rolling into bounties and signature campaigns, it is time wasting. Time wasting because it is just a few box that you could be getting but you are melt to expose your life identity. I think it should be for a certain investor, investing a particular large some of coins.
There are many bounty hunter earned from several hundred to thousands of dollars. So KYC is normal for them, because they will have a good amount of money
Is unfortunate to see that this kyc thing has started rolling into bounties and signature campaigns, it is time wasting. Time wasting because it is just a few box that you could be getting but you are melt to expose your life identity. I think it should be for a certain investor, investing a particular large some of coins.
There are many bounty hunter earned from several hundred to thousands of dollars. So KYC is normal for them, because they will have a good amount of money
Is unfortunate to see that this kyc thing has started rolling into bounties and signature campaigns, it is time wasting. Time wasting because it is just a few box that you could be getting but you are melt to expose your life identity. I think it should be for a certain investor, investing a particular large some of coins.
If the requested KYC is for investors that purchasing coins, that would be no problem, but if it's for the bounty participant and it's not mentioned at eh beginning of a campaign, then that would be really big problem, the bounty participant will surely scream for that.
Recently, more and more arguments have arisen that ICO generosity campaign participants really need to be tested by KYC in order for ICO teams to provide information that their tokens are distributed to specific people. In my opinion, this generally sounds like something stupid. Who and why should the ICO team provide such data? Tokens are not much different from any other product, and stating that merchants need to know who they are selling is stupid.
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?
I think you should take into consideration more before submitting any KYC document.
If your reward is not too worth, better if you don't give any data of your identity because scammer can using your data.
KYC is made to detect cheaters and people that want to exceed the personal cap
lol
no . kyc is not made because of that . if a campaign is willing to detect abusers , they can do it in a more easier way . than requiring this kyc . kyc in a nutshell is made for a more important purpose . for the question about [ do we really need a kyc ? ] no we dont . just ignore those kyc related projects or kyc related campaigns and your all good to go .
Never thought the KYC mandatory for hunters. Yes, in the beginning it protected from scammers, and now scans of documents can be bought almost at every step.
it seems not, because Kyc is only for investors. but there are some projects that require cyc for bounty participants. it all depends on the policy of the project team.
I think kyc is needed for bounty participants , due to the fact that many people use multi-accounts , and it may reduce the participants in the program and keep it honestit seems not, because Kyc is only for investors. but there are some projects that require cyc for bounty participants. it all depends on the policy of the project team.
I think kyc is needed for bounty participants , due to the fact that many people use multi-accounts , and it may reduce the participants in the program and keep it honest Jump to: