KYC system at some program! - page 2.

Umkar

member

Activity: 364

Merit: 10

Quote from: Dergansion on June 09, 2018, 11:36:09 AM

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

If you are a member of the ICO generosity campaign, I do not recommend sending your identification data and passport copies to ICO teams at their request. It is very dangerous. It must always be remembered that while almost half of the ICO teams are scammers who can also sell your identification data. There are already many such cases. Nobody knows how your data can be used by anyone. Sometimes you can come to the police after a search and then at the police station you will be justified as to your name the property is registered after committing murders and other crimes or why you do not pay credits taken for your name for a long time and much more. In addition, ICO teams do not have the right to demand a KYC review from the participants of the ICO generosity campaign, since we are not investors.

mullzerwar

sr. member

Activity: 574

Merit: 250

The function of the KYC is actually to Know Your Customers.
The ICO commonly uses KYC based on the regulation that they make. Commonly it is to know that their customers or investors are not the scammers or spammers. It is also to ensure that the societies from the illegal participation will not participate in buying the ICO. This is why the KYC is needed to verify the process. But for bounty and airdrop hunters, I think it no needs.

Dergansion

member

Activity: 175

Merit: 10

https://www.snbtoken.io/

Quote from: shapegray on June 09, 2018, 12:22:22 PM

Quote from: Dergansion on June 09, 2018, 11:36:09 AM

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

There is two reason, why i never fill the KYC. First because I think they can abuse my personal information. And second because I'm too lazy too fill it Grin

.

I am too layman in that problem .. maybe for the sake of getting the coin from the results I worked on bounty program I joined to send kyc without thinking more detail about the risk of data delivery. I also do not understand the function of our data later in the misuse of the internet world

AgentZero23

member

Activity: 644

Merit: 10

I always take caution about participating in a bounty with KYC. Because I'm afraid that my personal information got leaked and obtained by cyber criminals and used for identity fraud. But, I always used my national id here as a requirement for KYC. Because my passport are way sensitive.

Leyss

member

Activity: 574

Merit: 12

Quote from: Dergansion on June 09, 2018, 11:36:09 AM

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

Sending our identification data and copies of passports to ICO teams is very risky. There is a very high probability of using our data for illegal purposes. Such cases already exist.
In addition, the requirement to pass a KYC test from participants in the ICO generosity campaign is illegal, since we are not investors in these ICO projects. In many countries, laws on the protection of personal data of citizens, where a limited list of persons and bodies that have the right to require confidential information, is listed. As a rule, these are only government agencies. No ICO team has yet indicated on what grounds they decided to violate our rights. Why should we send our data to people who themselves are often scammers themselves? To date, this is a very serious problem.

deepcryptomine

full member

Activity: 392

Merit: 101

I don't trust any project enough to do KYC. I have even given up bounties that I did all work for because I didn't want to submit KYC docs. The bounty didn't mention this beforehand and only just before distribution mentioned it.

Russlenat

hero member

Activity: 2716

Merit: 904

I'm am also against KYC because it is against my will, It will expose my identity here in crypto and maybe used my identity by cyber criminals and it is dangerous, we talk money here and we want to be anonymous at all time that is why we use crypto currency to hide our name in public, I also avoid bounty program that needs KYC, some of that program is not legit and scam, just to stole people credentials.

Siren

sr. member

Activity: 826

Merit: 265

Quote from: Dergansion on June 09, 2018, 11:36:09 AM

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

Yups,actually thats the same reason thats why i am opposing that KYC requirements in any particular program here in cryptocurrency remember why were here is because of privacy,and no third paty that anticipating our usage of funds

But thos kyc program are making us vulnerable for any misusing imagine your personal details will be send to not only single person but with the whole company or teams,isnt it much riskier than what we are dealing in the past with only email requiring?

Argoo

full member

Activity: 2352

Merit: 245

The KYC check is illegal and very dangerous for the participants of the ICO generosity campaign. It is illegal because in projects ICO should only apply to investors, since its main purpose is to prevent money laundering. Therefore, the requirement to pass such an inspection against bounty hunters is an excess of their authority on the part of the ICO team.
The provision of our identification data is also dangerous, because we transfer such information to the hands of persons who in almost half the cases are themselves fraudsters and may well use our data and copies of our passports for illegal purposes. At the same time, these persons themselves do not pass any verification of their identification by the state bodies.

JamescrypTrader

jr. member

Activity: 140

Merit: 1

Know your customer or in short KYC is to check the authenticity of the customer. It is mainly done to control any kind of unwanted situation. But this is true that sharing KYC would be reisky from the point of sharing your all credentials with some other.

nikola22

full member

Activity: 1316

Merit: 105

you should be careful with KYC procedure because some projects are not reliable and who knows how they will use your data. I try to avoid bounties where KYC is required.

sircy

sr. member

Activity: 504

Merit: 250

quite risky if we must submit a personal data for KYC bounty. Although currently, some bounty uses the system then I avoid it. better I was looking for another bounty that has no such system. of course, this was done to anticipate the bad things going on such as the misuse of identity. certainly, it would be very unfortunate and dangerous if it comes to identify with the name we will be misused by third parties. Thus in selecting bounty should also ask whether it needs to be KYC and sturdiness.

oscarrsm

full member

Activity: 322

Merit: 101

Now projects with a single KYC database are already functioning. There is a tendency that soon it will be necessary to send your documents to one certain reliable company.
And already all other projects that require some kind of confirmation from you can contact this storage system. This is important and useful, but only as long as it is safe.

ishietan

newbie

Activity: 37

Merit: 0

Signing up for kyc has a high chance that our personal data can be used for illegal activities. We have to be careful and onlh sign up to the bounty that you can trust.

hyadumadha

full member

Activity: 254

Merit: 110

The objectives of KYC guidelines is to prevent the company from being used, intentionally or unintentionally, by criminal elements for money laundering activities. In the side of the company, this helps them manage their risks prudently, but in our side as customer, there is a chance that our data will be used for the benefit of that company.

AUruHM

sr. member

Activity: 896

Merit: 251

Guys, those data are great goods on the darknet. Some projects can get more funds for team such. And if this data can be sold why not? Of course they trade. I'm sure. Not all, but much

carrie_white

full member

Activity: 784

Merit: 101

KYC it means know your customer, it is really needed for ico program and bounty campaign, in order to avoid multiaccount and avoid restricted country. although it must be done, but you also have to be careful in filling a kyc program, make sure the project can be trusted, because now very much kyc that abused

chandrarahmadewa

member

Activity: 308

Merit: 49

Quote from: Dergansion on June 09, 2018, 11:36:09 AM

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

Yes, we have to be careful of an ICO requesting your data (KYC), I think the wrong way of sending personal data to outsiders. This implies the rule of cryptocurrency, but there are some trading markets asking for your data (KYC)

cryptomonotize

newbie

Activity: 55

Merit: 0

The whole KYC system is against the key principle of cryptocurrency which is being anonymous. You are giving personal information which can be abused later. Personally i dont like KYC but because of some issues companies are asking for KYC.

agustina2

legendary

Activity: 2436

Merit: 1008

Quote from: Dergansion on June 09, 2018, 11:36:09 AM

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

- yes.

- yes.

KYC system is due to strict regulations of the ICO's today. In this way, this will ensure that the ICO is following crypto protocols by the government. Somehow it's has benefits but on the other hand, why we here on crypto is because of decentralized system.

With growing numbers of ICO's scam, it's really required that a legit ICO's must follow the regulations and KYC is part of that.

Topic: KYC system at some program! - page 2. (Read 484 times)