KYC for penny money? - page 3. | Bitcointalksearch.org

pushups44

sr. member

Activity: 854

Merit: 281

Quote from: shannelcoin on April 02, 2019, 09:28:59 PM

I saw in my social media feeds that there's a lot of people now posting about free cryptocurrency that needed of kyc before you get a penny money. This people not think if it's will good to them to give their identity in any site for just penny money. Yeah it's free but your identity will be possible to use in any harmful doings.

Whats your thoughts about this?

I believe it's a bad idea to hand over KYC documents over bounty promises, especially involving projects paying a pittance to bounty hunters. I believe bounty hunters need to take a collective stand and refuse participation in such schemes, because by taking part in them they are giving these projects credibility and saying it's OK.

cryptjh

full member

Activity: 532

Merit: 185

I would never do KYC to an anonymous blockchain team in a random ico, then better miss out. I have done KYC on a few exchanges that accept fiat, so I can use my credit card to buy bitcoins, I also did the $25 KYC on blockchain, to get free XLM.
But I have never liked to give away KYC, one day they will be leaked to the web, and if bitcoins become the new world currency, then having your name on a bitcoin holding list can be dangerous.

Netnox

legendary

Activity: 2044

Merit: 1008

Quote from: Apes on May 14, 2019, 10:29:21 AM

Quote from: emmybd on May 14, 2019, 01:05:51 AM

I am totally against giving your personal info for a small amount of money, as you personal data can be used in future for any illegal ways. So, bounty hunters should be careful about it.

Yes. everyone will refuse to do KYC, especially the bounty participants. only fools do KYC for pennies. as far i know do KYC, it is mandatory if the received funds are at least 1 BTC, other than that the are not required. doing KYC on projects that gives penny is very risky. because identity validation is very valuable on the global internet.

In case a bounty campaign ask for KYC, then people like you and me, and 90% of the users here in Bitcointalk will flatly refuse to undergo that process. But even then, there will be a small minority who are desperate for cash. $20 or $50 doesn't mean anything for me, but in certain third world nations, that can be a very big amount.

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: fiulpro on May 14, 2019, 11:01:32 AM

As we all know the government time and again reminds us how it's not at all a great idea to share your personal details to someone you barely know , if someone is giving money free for taking those details I don't know if it's not fishy then what will it be ?
Even a survey could be done from that but at the same time who would like giving out his cash ?
Things like that might not be fraud but also at the same time aren't something that you should do.
Better keep your identity rather than having 1$ or a 2 .

In that sense and small amount of money why bother to do things like this, you need to protect your identity as there's always possibilities that you'll be hack or it can be used in a illegal things online, if you are willing to take the gamble make sure that you are fully aware of what you are supporting or dealing with.

fiulpro

hero member

Activity: 1862

Merit: 830

As we all know the government time and again reminds us how it's not at all a great idea to share your personal details to someone you barely know , if someone is giving money free for taking those details I don't know if it's not fishy then what will it be ?
Even a survey could be done from that but at the same time who would like giving out his cash ?
Things like that might not be fraud but also at the same time aren't something that you should do.
Better keep your identity rather than having 1$ or a 2 .

Apes

sr. member

Activity: 1316

Merit: 257

Quote from: emmybd on May 14, 2019, 01:05:51 AM

I am totally against giving your personal info for a small amount of money, as you personal data can be used in future for any illegal ways. So, bounty hunters should be careful about it.

Yes. everyone will refuse to do KYC, especially the bounty participants. only fools do KYC for pennies. as far i know do KYC, it is mandatory if the received funds are at least 1 BTC, other than that the are not required. doing KYC on projects that gives penny is very risky. because identity validation is very valuable on the global internet.

emmybd

full member

Activity: 1218

Merit: 112

I am totally against giving your personal info for a small amount of money, as you personal data can be used in future for any illegal ways. So, bounty hunters should be careful about it.

Ozero

full member

Activity: 2044

Merit: 180

Chainjoes.com

KYC checks for participants in ICO bounty campaigns are completely illegal because they run counter to the task of conducting such a check. ICO teams abuse their rights in this case, taking advantage of the lack of regulation of this type of activity. Therefore, it would be best not to join those events that require KYC verification or provide them with false data. In this case there will be no responsibility either.

Loopper

full member

Activity: 616

Merit: 100

Quote from: Farma on May 13, 2019, 11:43:51 PM

Quote from: Sithara007 on May 13, 2019, 11:28:56 PM

Quote from: ecnalubma on May 07, 2019, 12:17:54 PM

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

You are absolutely right. Just create an account in any of the currently active dark market sites, and you can understand the severity of this problem. KYC documents are available to be purchased in bulk, for as little as $10 per document. These documents are in turn used for criminal activities and money laundering, and in the end the victims of the identity theft will be caught up in the investigation. My only advise is not to take this big risk, in order to receive $10 o $15 in bounties.

that's the danger of giving our identity to the unknown. sometimes people are so interested in 10-20 $ for KYC fees. in fact, we do not know that that identity can be used for crime. it's better to be careful before giving our identity to someone.

It could happen with your carelessness later. many people are wrong to use data from what we have sent. It's true that you don't trust other people, Which is not necessarily the truth.

Farma

legendary

Activity: 2492

Merit: 1001

Leading Crypto Sports Betting & Casino Platform

Quote from: Sithara007 on May 13, 2019, 11:28:56 PM

Quote from: ecnalubma on May 07, 2019, 12:17:54 PM

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

You are absolutely right. Just create an account in any of the currently active dark market sites, and you can understand the severity of this problem. KYC documents are available to be purchased in bulk, for as little as $10 per document. These documents are in turn used for criminal activities and money laundering, and in the end the victims of the identity theft will be caught up in the investigation. My only advise is not to take this big risk, in order to receive $10 o $15 in bounties.

that's the danger of giving our identity to the unknown. sometimes people are so interested in 10-20 $ for KYC fees. in fact, we do not know that that identity can be used for crime. it's better to be careful before giving our identity to someone.

Sithara007

legendary

Activity: 3220

Merit: 1344

Leading Crypto Sports Betting & Casino Platform

Quote from: ecnalubma on May 07, 2019, 12:17:54 PM

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

You are absolutely right. Just create an account in any of the currently active dark market sites, and you can understand the severity of this problem. KYC documents are available to be purchased in bulk, for as little as $10 per document. These documents are in turn used for criminal activities and money laundering, and in the end the victims of the identity theft will be caught up in the investigation. My only advise is not to take this big risk, in order to receive $10 o $15 in bounties.

andriarto

sr. member

Activity: 1344

Merit: 253

Quote from: MakeMoneyBtc on May 13, 2019, 06:36:53 PM

Quote from: ecnalubma on May 07, 2019, 12:17:54 PM

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

Well, for some people their identity could actually worth less than the reward they are getting from completing such KYC's. For example the minimum wage in countries like India is about 50$ from what I remember and right now Blockchain is offering a reward of 50$ for verifying your identity. This means that a person from India would earn a monthly salary for completing a 5 minute task.

all back to yourself. with someone giving up the kyc even though it's a small gift. but there are also those who do not crash to surrender Kyc. especially sometimes we only know the rate of the coin after the process ends, because the new listing

MakeMoneyBtc

full member

Activity: 1092

Merit: 117

Quote from: ecnalubma on May 07, 2019, 12:17:54 PM

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

Well, for some people their identity could actually worth less than the reward they are getting from completing such KYC's. For example the minimum wage in countries like India is about 50$ from what I remember and right now Blockchain is offering a reward of 50$ for verifying your identity. This means that a person from India would earn a monthly salary for completing a 5 minute task.

wxa7115

hero member

Activity: 2702

Merit: 704

Quote from: dameh2100 on May 06, 2019, 06:23:27 PM

Theres a Lot of free money in cryptoworld, sometimes you need to do KYC before you receive your Penny money and sometimes you don’t need to. On the other-hand, they are both penny money, it’s your choice if you want to take a risk for just small amount of money. But for me of-course, its the best to not get involved and risk your identity for just that small amount.

Many people are so desperate to get money that they are going to do everything they are told even if that means giving up their identity to scammers, they do this because they see cryptocurrencies as the only hope they have to improve their living conditions, but most of those projects that ask for KYC are not really going to become successful as many people among the community do not agree with such a thing and they are never going to invest in such coins.

This limits the money they could get to develop their project and also limits the talent pool they have since many developers will probably refuse to work with a project that ask for that kind of information, as such it is better to stay away from such projects and never invest in them.

tyz

legendary

Activity: 3346

Merit: 1530

Quote from: jakezyrus on May 06, 2019, 08:39:44 PM

Quote from: BennyK on May 06, 2019, 08:13:21 PM

KYC has nothing to do with the amount of reward received for joining a bounty program.

of course it does matter because afaik kyc is commonly done on bigger transaction like for example if you are withdrawing a huge amount of cash and if you are an investor of an ico but kyc on an airdrop and on a bounty is not usual anymore .

Wrong, it used to be like that in the past. Meanwhile, a KYC is mostly requested from bounty campaigns for every sum (even very small ones of $10 or $20). This is ridiculous from a regulatory point of view. Often it's just about fishing identities. If you're in Darknet, you'll find a lot of offers of different identities with a copy of the ID and a bill where many will surely come from KYCs.

senin

full member

Activity: 938

Merit: 137

Quote from: shannelcoin on April 02, 2019, 09:28:59 PM

I saw in my social media feeds that there's a lot of people now posting about free cryptocurrency that needed of kyc before you get a penny money. This people not think if it's will good to them to give their identity in any site for just penny money. Yeah it's free but your identity will be possible to use in any harmful doings.

Whats your thoughts about this?

I think that such generosity should be ignored and avoided. For the distribution of free coins or tokens, no one has the right to request a KYC check. KYC checks should be conducted only to prevent the laundering of dirty money and combat the financing of terrorism. Therefore, such a test can be carried out by individuals who invest in cryptocurrency. It is hardly worth suspecting all those who distribute several free tokens that they are hunting for confidential data, although this is not excluded. Most likely, they themselves do not know their authority and do what others do.

ecnalubma

sr. member

Activity: 1526

Merit: 420

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

dat.ho12492

jr. member

Activity: 378

Merit: 1

Quote from: waynechong1995 on May 06, 2019, 08:55:38 PM

KYC initially have very use case previously. They use it to verify their customer as standard regulations procedures but seems nowdays airdrops are trying to get as much information from person with no means of complying personal data protection, I joined such and for awhile during the bull I was getting lots of scam calls and messages regarding investments and binary option

Yes, KYC for free crypto right now is really something we should not do when the value of those crypto is not too high, the reward is just a small number, participation is just a waste of time and can get results as you say, a leak of personal information, and we should remember that our information is very important, it can be related to the assets in the exchanges, the number will be huge. Personal information with a few dollars reward, an inappropriate exchange, keep away from such cases, it will be better for us

smyslov

sr. member

Activity: 2002

Merit: 269

Quote from: shannelcoin on April 02, 2019, 09:28:59 PM

I saw in my social media feeds that there's a lot of people now posting about free cryptocurrency that needed of kyc before you get a penny money. This people not think if it's will good to them to give their identity in any site for just penny money. Yeah it's free but your identity will be possible to use in any harmful doings.

Whats your thoughts about this?

They haven't realized the danger of giving their important details for a few penny, all they want s to get as many free coins they could get because they are promised with a huge amount of money by these developers until they found out that they are claiming worthless or shitcoins.

LogitechMouse

legendary

Activity: 2422

Merit: 1036

casinosblockchain.io

If they are desperate enough for that "penny money" you are saying then they will give their information without thinking of the risks of it.

I often see this in the airdrops and bounty campaigns where the participants are required to send their personal information in exchange for a small penny and in the end, it will be useless because the token has no value. To be honest, I will not do this. I will not risk my personal information for the sake of "small penny".

Topic: KYC for penny money? - page 3. (Read 1394 times)