Topic: KYC for Bounty. Why do it? - page 2. (Read 1198 times)
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.
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.
Maybe because the developer team considers bounty tokens like tokens that are sold to investors. I think there is nothing wrong with KYC in the bounty campaign because it can reduce scammers in the campaign.
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.
because there are many bounty participants who use several accounts in one project, so the project developer requires the KYC participant to ensure that 1 account is 1 person ... so as to avoid cheating by bounty hunters ... although KYC can be used to other things, but this is a policy to avoid fraud .. and KYC is very reasonable to be applied to bounty participants ..
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.
because there are many bounty participants who use several accounts in one project, so the project developer requires the KYC participant to ensure that 1 account is 1 person ... so as to avoid cheating by bounty hunters ... although KYC can be used to other things, but this is a policy to avoid fraud .. and KYC is very reasonable to be applied to bounty participants ..
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.
in my opinion about the kYC request by the project team to campaign participants because they want to ensure that only 1 account is for 1 participant ... because many bounty hunters participant commit fraud by joining multiple accounts in one campaign ... so they are not deceived by bountie hunters..
Many projects currently require participants to do KYC before accepting tokens as bounty fees, but if KYC is only to prevent fraud I think it can't 100% prevent it because of course fraudsters will be more proficients in doing so, we really should be more careful to sending we personal data , for fear that we data can be misused by them to commit other frauds, make sure the project that does the kyc have a security system to store our personal data if indeed the project is unclear, we better not to do kyc.
many things are stored why you have to do KYC for bounty participants. I think it's possible to avoid cheating, but for myself I feel that bounty participants should not do KYC because the rewards they get are not worth the risk of giving away their identity
It is true that KYC is still a serious consideration for hunters because most of the rewards are not worth the risk and it makes me worry by irresponsible managers (fraud). I also still do not know its true purpose, but one thing is certain in my opinion that KYC is indeed necessary because it relates to identity as in real life as long as it is used properly and correctly.
right now I think it's strange because bounty has a reward that is not how much even many do not reach hundreds of $, and kyc should only be applied to tokensale. and because of this I am lazy to follow the bounty, especially social media campaign I prefer to sign campaign and look for a bounty that is really feasible to do kyc
many things are stored why you have to do KYC for bounty participants. I think it's possible to avoid cheating, but for myself I feel that bounty participants should not do KYC because the rewards they get are not worth the risk of giving away their identity
Some projects require KYC because of fear of the law, while others because of a desire to prevent users from registering with different accounts.
When you say "fear of law", what do you mean? Is it illegal in certain jurisdictions to do bounty?
I would have thought it would be obvious to all that if you had both hands out you would receive twice as much as the person with just one hand out. If you went to the end of the line and turned up with both hands out again, then the person with just one hand out would get four times less than you. With KYC the person doing the giving can stop and say "Hang on, didn't I already give you some... yes I did..."
Why do some projects do 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.
Its a good way to eliminate duplicate entries, scammers, etc.. Project team claims this when they go for KYC especially for bounty hunters.
in the beginning it was just to prove that multi accounts could not participate in a project, and could not be misused by kyc prize hunters for bounty to be more thorough and good in dealing with a sophisticated era of trading and therefore made like this so as not to make a project become a scam / trash and get it using a passport.
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.
Most likely KYC in bounty campaigns is organized in order to stop the mass participation of multi-accounts. I do not know if this is so and how effective it is, however this is the only assumption that comes to my mind.
I try not to participate in bounty campaigns where there is a KYC, I just do not want my data to flow into the network.
They do it to pay honest people who only use 1 account for one person, not cheating a project with several different accounts. thus harming other participants who are honest in conducting the campaign.
Why do some projects do 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.
Its a good way to eliminate duplicate entries, scammers, etc.. Project team claims this when they go for KYC especially for bounty hunters.
To avoid spammers of multiple accounts because many are joining in a bounty campaign under different names owned by one person. And to ensure that bounty rewards are being rewarded by real people not just by a dummy name.
Well it's quite getting popular now that most of the bounty hunters are being too much greedy when it comes to some promising projects that they think will going to have a good result even risking their own participation just to cheat.
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 this is done either to collect personal data for empty coins or to kick out the people and do not pay them for the a bounty work done which has been done
I used to do it but not anymore. It is nothing but a waste of time. Some bounty managers believe it helps in reducing the multi participation whi h they think is responsible for dumping but it is still to failure.
It's not only a waste of time but you could be risking your personal info as they could sell it if they want to. There are a lot of bounty campaign in the space and I don't believe the reason for KYC is to reduce multi participation, what I believe is that they treat their bounty hunters like their investors because they also own the same coins. If this is also to eliminate bounty cheaters, I think bounty cheaters are also smart to submit fake KYC documents to be able to comply and at the same time keep their real information safe.
I used to do it but not anymore. It is nothing but a waste of time. Some bounty managers believe it helps in reducing the multi participation whi h they think is responsible for dumping but it is still to failure.
There are advantages and disadvantages of doing a KYC. But as long as the project is authentic and won't play around my information, I think I could submit it. It is for security purposes and to avoid scammers and people who cheat on bounty campaigns.
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