Every bounty isn't an approach to collect data to benefit out of the data collected with their personal information. There might be few bounties that were done with specific purpose by the scammers. I believe most of the time KYC is requested to show to the outer world the usage number of the respective token, then is to avoid people from specific countries not participate on any of the programs conducted by the specific project team. This is done to terms and conditions created with legal rules and agreeing to it.
It is known that the majority of projects are scams, so why do you think that the scammers that are willing to steal your money without any remorse are going to suddenly stop when it comes to stealing your identity? For them this is a great win, they get your money and in the case your investment was small they can sell your full information on the dark web, since KYC was introduced we did not saw a decrease in the number of scams but we saw an increase in the consequences for investors when they choose the wrong ico. 
Topic: Is KYC benefit to crypto people or not - page 9. (Read 6455 times)
No. KYC doesn't benefit crypto users at all because filling up and submitting KYC is time consuming and it takes a lot of days for them to confirmed your submission. A lot of people do really hates submitting KYC because there are some projects who requires KYC but it's a scam that makes a lot of people nervous that they could used their information to trick other people.
It is actually beneficial because the management can notice if there is someone who is farming because KYC is important we can recognize who is farming or even not following the rukes. KYC means know your customer so it is important also for the particular campaign to know their participant because what if it is just joining multiple accounts, the campaign can recognize that by looking at the address of that particular account if that account is actually using only one address and there is many accounts used by it. 
No. KYC doesn't benefit crypto users at all because filling up and submitting KYC is time consuming and it takes a lot of days for them to confirmed your submission. A lot of people do really hates submitting KYC because there are some projects who requires KYC but it's a scam that makes a lot of people nervous that they could used their information to trick other people.
In fact KYC is not required for crypto-currency users and is not profitable as well, because theft against crypto currency is always there, and KYC does not guarantee if our crypto assets will be safe from thieves. KYC may be required as data for crypto ownership, so it is not for security. KYC is required when we trade on trade exchanges and invest in a project.
I think Kyc will of course be needed, especially at the exchanges, or many other blockchian platforms, which can prevent ports from being illegal, or counterfeit to benefit themselves, especially very needed for projects, making airdrops or bounty, otherwise kyc can be taken advantage of and cost a lot of investment, so in a world that seems anonymous, really needs kyc
Definitely yes, because it will add in the security in the sense that all users of that exchanges are all fully verified. However, we can’t really say that KYC is a perfect program but if all will undergo KYC it will prevent possible fraud or money laundering cases but it is still very important that you make your account secure yourself.
Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.
Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.
Now KYC is trend in crypto market.....
Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.
Now KYC is trend in crypto market.....
Both good and bad, it depends on what you are trying to do. For example, you can choose to deal with "heavily regulated" companies since there is less risk of them running away with the money. If you are an idealistic freedom seeker then the KYC/AML trend is not a good sign for the future. Please note, in a free market companies and individuals could be certified (and KYC'ed) by trusted independent authorities (i.e. similar to Consumer Reports), which eliminates the centralized Gov't control.
I think Kyc will of course be needed, especially at the exchanges, or many other blockchian platforms, which can prevent ports from being illegal, or counterfeit to benefit themselves, especially very needed for projects, making airdrops or bounty, otherwise kyc can be taken advantage of and cost a lot of investment, so in a world that seems anonymous, really needs kyc
With that said. It is a proof that submitting KYC should depend on the website that you are using. KYC is helpful even though you are not exceeding 2 bitcoin per day in withdrawal because it will make your account more secure since you have a proof of ownership to your account because of the identification documents.
KYC is not going to make your account any more secure that it already is. Your account is linked to your email and mobile phone number, and as long as you control these accounts your exchange account will remain secure. I don't think that sending your ID documents to unknown people will help in increasing the security level of your account.
You have the wrong idea about KYC. KYC will not prottect your account, at least not in technical security sense, it's about protection of personal data and prevention of illegal activities like money laundering and similar. KYC should disable potential fraudsters that also you can make a victim of their activities. And based on.KYC you have a legal protection.
With that said. It is a proof that submitting KYC should depend on the website that you are using. KYC is helpful even though you are not exceeding 2 bitcoin per day in withdrawal because it will make your account more secure since you have a proof of ownership to your account because of the identification documents.
KYC is not going to make your account any more secure that it already is. Your account is linked to your email and mobile phone number, and as long as you control these accounts your exchange account will remain secure. I don't think that sending your ID documents to unknown people will help in increasing the security level of your account.
Yes, and our information is really valuable to some businesses. Bitmex was also recently condemned for issuing KYC by users to sell to other businesses.
So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.
Trading websites require KYC to maintain their website because that is required by the law. I think our identity is safe on a bigger and legitimate exchange, just like what you said, which is Bitmex. What I don't like is ICO and bounties that are requiring KYC. First of all, they are not proving themselves if they are legitimate or not. And for the user, there's no guarantee that their personal information is safe from those ICO and newly startup crypto business. So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.
Actually we can choose, there are some exchange that does not require KYC but in case of some trouble, we will surely feel the disadvantage of not complying with the KYC, non KYC is not advisable if you are transacting with big amount of money.
Yes, and our information is really valuable to some businesses. Bitmex was also recently condemned for issuing KYC by users to sell to other businesses.
So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.
Trading websites require KYC to maintain their website because that is required by the law. I think our identity is safe on a bigger and legitimate exchange, just like what you said, which is Bitmex. What I don't like is ICO and bounties that are requiring KYC. First of all, they are not proving themselves if they are legitimate or not. And for the user, there's no guarantee that their personal information is safe from those ICO and newly startup crypto business. So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.
Actually we can choose, there are some exchange that does not require KYC but in case of some trouble, we will surely feel the disadvantage of not complying with the KYC, non KYC is not advisable if you are transacting with big amount of money.
You have to correctly choose where to use KYC, don't carelessly choose and use it, if you use KYC only for ICO I think it's funny,
we never know how the end of the ICO, it will be very risky if your data is scattered and traded!
If a project and an exchange platform provide security and legality for the security of your data, I think it's not a problem
If we don't care about our real identity and we care only with the airdrop/bounty rewards that we will receive then be ready for the consequence that some scammers are just doing this for them to get your data, which in fact they are using this data for them to sell it in darkweb or in a syndicate, so let's be careful about it if we don't want to be a victim someday or that someone will use our name.
Why KYC needed for cryptocurrency users. Seriously this is million dollar question. Some of the business comes with the proposal of cryptocurrency and KYC verification on using it.
But that is truly wrong and investors should make the entity to verify them. But here they are using us to do it.
We know the answer to that question and it is not really complex one, governments are afraid of the potential that cryptocurrencies have to allow you to move your money from one place to another without them knowing about it, that is what they fear the most, they also fear your ability to move your money without their permission, that you can do it without even identifying yourself and finally that they cannot freeze your assets whenever they want, so they are asking for KYC to at least know who you are. But that is truly wrong and investors should make the entity to verify them. But here they are using us to do it.
You have to correctly choose where to use KYC, don't carelessly choose and use it, if you use KYC only for ICO I think it's funny,
we never know how the end of the ICO, it will be very risky if your data is scattered and traded!
If a project and an exchange platform provide security and legality for the security of your data, I think it's not a problem
If we don't care about our real identity and we care only with the airdrop/bounty rewards that we will receive then be ready for the consequence that some scammers are just doing this for them to get your data, which in fact they are using this data for them to sell it in darkweb or in a syndicate, so let's be careful about it if we don't want to be a victim someday or that someone will use our name.
there are no valid exchange terms about how they keep users' data confidential, and kyc is a collective right of the system they are implementing, I also disagree, but it is also permissive for some reason, I only avoid the use of passports, for others it does not matter because the data does not apply in the urgency of global use.
You have to correctly choose where to use KYC, don't carelessly choose and use it, if you use KYC only for ICO I think it's funny,
we never know how the end of the ICO, it will be very risky if your data is scattered and traded!
If a project and an exchange platform provide security and legality for the security of your data, I think it's not a problem
we never know how the end of the ICO, it will be very risky if your data is scattered and traded!
If a project and an exchange platform provide security and legality for the security of your data, I think it's not a problem
with so much knowledge that users have collected and shared on forums and social accounts i think there will be a much brighter future
as users are now more cautious, scammer would have so much harder job to implement their plots against users,
we, the users won't be scammed easily but there will be a little problem, as we are more cautious scammers are getting more intelligent
Stay safe, double think before doing anything
since that time i have not used KYC anywhere, even had lost my account on an exchange which asked for KYC and i dont regret what i have done and lost few bucks there,
i think i may not do KYC in any other place, unless i can be sure that my information might be safe on that service (which surely wont be 100% as we had seen very big tech services facing hack attempts and leaked their customer information on black markets)
so whenever you wanted to do another KYC, be sure to double think for any possible consequences )
there are no valid exchange terms about how they keep users' data confidential, and kyc is a collective right of the system they are implementing, I also disagree, but it is also permissive for some reason, I only avoid the use of passports, for others it does not matter because the data does not apply in the urgency of global use.i think i may not do KYC in any other place, unless i can be sure that my information might be safe on that service (which surely wont be 100% as we had seen very big tech services facing hack attempts and leaked their customer information on black markets)
so whenever you wanted to do another KYC, be sure to double think for any possible consequences )
we never know how the end of the ICO, it will be very risky if your data is scattered and traded!
If a project and an exchange platform provide security and legality for the security of your data, I think it's not a problem
since that time i have not used KYC anywhere, even had lost my account on an exchange which asked for KYC and i dont regret what i have done and lost few bucks there,
i think i may not do KYC in any other place, unless i can be sure that my information might be safe on that service (which surely wont be 100% as we had seen very big tech services facing hack attempts and leaked their customer information on black markets)
so whenever you wanted to do another KYC, be sure to double think for any possible consequences )
there are no valid exchange terms about how they keep users' data confidential, and kyc is a collective right of the system they are implementing, I also disagree, but it is also permissive for some reason, I only avoid the use of passports, for others it does not matter because the data does not apply in the urgency of global use. i think i may not do KYC in any other place, unless i can be sure that my information might be safe on that service (which surely wont be 100% as we had seen very big tech services facing hack attempts and leaked their customer information on black markets)
so whenever you wanted to do another KYC, be sure to double think for any possible consequences )
KYC is for campaigns and bounties that tend to be abuse by participants. KYC is for the identity of participants and crypto, in general, has nothing to do with this. Cryptocurrency is a mostly anonymous transaction that does not require any KYC.KYC benefits the campaign manager, exchanges banks and government in general because once identified, taxes will follow.
this is absolutely right, i have only 1 experience in KYC in a local exchange service which after few years i learned that site hosting had been hacked and all data leaked in blackmarket
i noticed that once i saw my own passport and selfie was used by someone on another site, but hopefully the manager knew me and suspended that account and warned me not to do KYC any tie at any place anymore
just curious, for what that person uses you did the KYC? Is it dangerous? actually I have done several times KYC.
since that time i have not used KYC anywhere, even had lost my account on an exchange which asked for KYC and i dont regret what i have done and lost few bucks there,
i think i may not do KYC in any other place, unless i can be sure that my information might be safe on that service (which surely wont be 100% as we had seen very big tech services facing hack attempts and leaked their customer information on black markets)
so whenever you wanted to do another KYC, be sure to double think for any possible consequences )
Yes, and our information is really valuable to some businesses. Bitmex was also recently condemned for issuing KYC by users to sell to other businesses.
So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.
Trading websites require KYC to maintain their website because that is required by the law. I think our identity is safe on a bigger and legitimate exchange, just like what you said, which is Bitmex. What I don't like is ICO and bounties that are requiring KYC. First of all, they are not proving themselves if they are legitimate or not. And for the user, there's no guarantee that their personal information is safe from those ICO and newly startup crypto business. So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.
Actually we can choose, there are some exchange that does not require KYC but in case of some trouble, we will surely feel the disadvantage of not complying with the KYC, non KYC is not advisable if you are transacting with big amount of money.
Yes, and our information is really valuable to some businesses. Bitmex was also recently condemned for issuing KYC by users to sell to other businesses.
So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.
Trading websites require KYC to maintain their website because that is required by the law. I think our identity is safe on a bigger and legitimate exchange, just like what you said, which is Bitmex. What I don't like is ICO and bounties that are requiring KYC. First of all, they are not proving themselves if they are legitimate or not. And for the user, there's no guarantee that their personal information is safe from those ICO and newly startup crypto business. So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.
Actually we can choose, there are some exchange that does not require KYC but in case of some trouble, we will surely feel the disadvantage of not complying with the KYC, non KYC is not advisable if you are transacting with big amount of money.
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