Topic: KYC for Bounty. Why do it? (Read 1198 times)
I think it is absolutely unacceptable for projects to request for kyc from bounty hunters because the cryptocurrency space is an unregulated marketplace and there is a very big risk of data leaks and breach in privacy especially with the very large amount of scam projects present in the cryptocurrency market
Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.
By the way for me if we participate some bounties and need a KYC ill think it was not good idea because of the bounty hunters are only promoting their project and only investor can do some KYC. But it depend to the bounty if they want need KYC so we want to follow on what the intructions it have if the bounty it was have a potential to develop more in a future.
What jurisdiction you are talking about. As a rule, verify identity or not depends on the jurisdiction of the country in which the company is based. However, most often this is administered even when it is not necessary.
Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.
By the way for me if we participate some bounties and need a KYC ill think it was not good idea because of the bounty hunters are only promoting their project and only investor can do some KYC. But it depend to the bounty if they want need KYC so we want to follow on what the intructions it have if the bounty it was have a potential to develop more in a future.Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.
By the way for me if we participate some bounties and need a KYC ill think it was not good idea because of the bounty hunters are only promoting their project and only investor can do some KYC. But it depend to the bounty if they want need KYC so we want to follow on what the intructions it have if the bounty it was have a potential to develop more in a future.
Most need to do it to prevent scammers. If you're doing with a project that hasn't launched already, it's probably a scam.
I know that Hydro is doing a bounty right now which apparently can be completed in around 5 minutes. I've been in their community since the initial airdrop last year. Hydro was also the most profitable airdrop of 2018 too. Definitely might be one to check out: https://projecthydro.org/blog/hydro-pay-and-liquid-exchange-rewards-campaign/
I know that Hydro is doing a bounty right now which apparently can be completed in around 5 minutes. I've been in their community since the initial airdrop last year. Hydro was also the most profitable airdrop of 2018 too. Definitely might be one to check out: https://projecthydro.org/blog/hydro-pay-and-liquid-exchange-rewards-campaign/
They do it to avoid those bounty hunters that are abusing them. And once you are not comfortable or you don't feel the urge to pass with their requirements of KYC, you can stop following that bounty and stop wasting your time. They don't force people to participate them, as long as they have said it on their rules and they won't change it, have your verdict early.
I understand the manager’s desire to exclude bots from bounty campaign.This is normal if the condition of the mandatory KYC is stipulated at the beginning of the campaign,but when the KYC is introduced before the distribution is one of the way not to pay the huntres because often the KYC is rejected without explanation. I usually don’t join the bounty, where they require KYC because I’m not ready to give my personal data, which can be sold by an unfair team.
Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.
what do I know KYC to avoid from multi account or playing cheater but not intended for all bounties all depending on your choice if you are able to meet the KYC requirements, you can join if not better looking for another bountyWe can do what the US government is doing already with the KYC that was being submitted by their citizens to those exchanges, and now they have all the detail with them and would taxing purpose, Binance is even going to the extent of having to create a special database for the US users which is mandatory for anyone that would be coming on the exchange to perform KYC, so whether we are bounty hunters or not, this issue of KC cannot be controlled by us, so there is absolutely no point actually fighting it.
Because identify many duplicate entries bounty hunter and scammer etc, in fact this decision is the own team and their development. I see many professional project give us rules before start of the bounty and also kyc required.
Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.
I think that bounty campaigns need a reason why not to pay rewards to some participants for this and the KYC is introduced.
Personally, I try not to provide KYC as in bounty campaigns, in investing and on exchanges.
Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.
I think that bounty campaigns need a reason why not to pay rewards to some participants for this and the KYC is introduced.
Personally, I try not to provide KYC as in bounty campaigns, in investing and on exchanges.
There are 2 reasons.
1. Bounty managers do not want to pay all allocated tokens to bounty participants. The rest of tokens they will keep for themselves.
2. Bounty managers want to reduce number of scammers and pay only honest bounty participants.
1. Bounty managers do not want to pay all allocated tokens to bounty participants. The rest of tokens they will keep for themselves.
2. Bounty managers want to reduce number of scammers and pay only honest bounty participants.
I think the issue of KYC is to curb the use of multiple accounts. People now use several accounts to cheat the system which is not a good thing. Doing KYC may not eradicate it totally, but it can go a long way in reducing it to the barest minimal.
i truly accept kyc for bounty because it satisfy AML policy for crypto bounty hunters we see more genuine company coming up with kyc verified
often businesses require KYC to sell to other businesses that need it more. they use the cost to deploy more activities.
We can prevent this from happening if we will not just randomly join a bounty campaign and comply with the KYC.Of course there are still a lot of scammers out there but they can't successfully operate if we bounty hunters are knowledgeable enough to determine which is legit or scam.
There have been some people talking about this and we should be careful with projects that require KYC. Best of all, we should avoid it.
We should be careful but not to avoid it, most legit project requires KYC, and I think it's not risky if we trust them. If investors are willing to comply with the KYC, we should do the same.
often businesses require KYC to sell to other businesses that need it more. they use the cost to deploy more activities.
There have been some people talking about this and we should be careful with projects that require KYC. Best of all, we should avoid it.
There have been some people talking about this and we should be careful with projects that require KYC. Best of all, we should avoid it.
If the team announces a KYC process, then you should get through it to get your rewards. I do not see the point of so much complains about passing the KYC. I does not take so much time, just get it done and receive your rewards.
KYC is needed for the company to know if you really are not a bot ,
it is also really important because lots of people signs up with just different account but
same person, it is also protecting other investors from people who is just making advantage of the airdrop or free tokens
it is also really important because lots of people signs up with just different account but
same person, it is also protecting other investors from people who is just making advantage of the airdrop or free tokens
I think they require kyc its for their benefit of the doubt, to know their customers or applicants name and profile so that they would know if that person uses bot or duplicates their entries. But accordingly to some bounty hunters, it is not necessary to them to have undergo kyc in the bounty project, its only for those inveators who joins the project, not for those bounty participants.
It might be like that, to find out if many bounty participants are using bots or to prevent cheating. In my opinion there is no problem bounty hunters have to do KYC because KYC has now become a standard in the cryptocurrency market
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