Do you have ever thought of the positive or negaive effects KYC brings to initial coin offerings (ICO) ? Here is my conclusion:
A KYC doesn't mean an ICO is safe and legit! It's possible for an scammer to start an scam ICO and he says he wants KYC documents and collects them. But he is still planning his scam and finally he will do this exit scam and if he does so he has stolen your money and your personal data. It's possible that he sells your personal data to other criminals or he commits a crime in your name and then you'll have many problems and maybe go to jail.
Conclusion: ICOs or bounties with KYC are very dangerous because a scammer can hide behind it. If this project turns out to be a scam, your money and personal data is lost.
I want to recommend everyone to avoid ICOs with KYC, because it's possible scammers are doing it! Only ICOs without KYC protect your personal data.
Topic: KYC is no quality standard for ICO (Read 101 times)
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