What do you think about distributing tokens using KYC?
Does using KYC as one of the conditions it is safe?
Because by using KYC we have to put in more of our real data.
Do more agree or disagree with using KYC
Topic: Token distribution using KYC verification - page 10. (Read 946 times)
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?
I do not think it's safe. And I see from the example of one project how difficult it is to collect data from all participants. Because of this, the distribution of tokens is delayed for the third week already. when I send my identity card is this safe? could it be misused?
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe?
I think not.when I send my identity card is this safe?
could it be misused?
Especially if the project turns out to be fraudulent, the with likely 90% your documents will be sold somewhere.
Don't really know if your ID information is safe or not. But I think if it's a legit project, nothing will happen with your ID information and it'll not be sold to the black market. But for now, we can hardly find out a truthworthy project cause scam project atm often create a good looking project with good WP, dev team, roadmap,.....that why there are a lot of investors still risked their ID information with these kind of projects.
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?
when I send my identity card is this safe? could it be misused?
Im personally not favor for KYC verification system because you easily gives your personal data but in what I see most ico project required a kyc system we cannot say that this is safe because in the future your data can use in illegal way, so If I were you Im staying away fro ico project that required kyc.
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?
when I send my identity card is this safe? could it be misused?
Yes, it would be misused. Bounties supposed not to be needing KYC BUT as the demand grows, great ICO's are having KYC for bounty hunters to remove spammers, cheaters and abusers. Some scammy ICO are also riding the tide, after getting money from investors some of them are conducting KYC for bounty hunters to sell for more money. Just proves that not all who conduct KYC are legit, BEWARE!
If most people say, the KYC system in the ICO indicates that the ICO can be successful and not a scam. But actually I was following a bounty with KYC, but I have not personally felt the direct experience of token distribution after the KYC process. But I think the ICO I'm following will be a success, so I think it'll be fine.
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe?
I think not.when I send my identity card is this safe?
could it be misused?
Especially if the project turns out to be fraudulent, the with likely 90% your documents will be sold somewhere.
I thought KYC are just for investors and not for bounty campaign participants. Why would the bounty manager needs a KYC for signature campaigns?
Because they are trying to make sure everyone participating in their bounty campaigns are not from the majority of countries are banned the crypto and prohibited the citizens to participate in any ico activities. It looks like become the real reason why there is a project implemented KYC verification to the bounty participants but it can't be appreciated in my opinion. several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe?
I think not.when I send my identity card is this safe?
could it be misused?
Especially if the project turns out to be fraudulent, the with likely 90% your documents will be sold somewhere. 
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?
This is not always safe, you need to look at how good this company is, because they can use your personal data for their fraudulent purposes. It is necessary to think several times before sending your personal data. I once faced fraudsters who sent a KYC verification message to the email, but when they contacted the company, they replied that they were not their email and they did not send such a message. when I send my identity card is this safe? could it be misused?
For me, this is absurd, since all this market was founded in order not to disclose their identity and here they ask me to send them my documents. I think this is not correct
Any legitimate ICO will have some sort of KYC/AML procedure. The reason for this is that every coin eventually wants to be listed on the major exchanges, and to do so would require them to follow the laws. Unfortunately the law is pretty clear that some sort of verification process needs to occur in order to prevent money laundering / fraud.
This is why it is essential to only invest in legitimate projects. It is NOT SAFE to send your ID/Passport to a random ICO. These documents reveal a lot about you and can be used in identity theft. If you want to participate in an ICO that requires KYC, make sure the ICO team is trustworthy.
The safest way to invest in a lesser known coin you believe in is to buy it once it gets out of the ICO phase. The price on an exchange after the ICO phase is often the same or cheaper than during the ICO (many people invest in ICO's just to dump it immediately once it hits an exchange). This way you still receive the coin at similar/cheaper prices, and you don't have to send personal documents to random people on the internet.
This is why it is essential to only invest in legitimate projects. It is NOT SAFE to send your ID/Passport to a random ICO. These documents reveal a lot about you and can be used in identity theft. If you want to participate in an ICO that requires KYC, make sure the ICO team is trustworthy.
The safest way to invest in a lesser known coin you believe in is to buy it once it gets out of the ICO phase. The price on an exchange after the ICO phase is often the same or cheaper than during the ICO (many people invest in ICO's just to dump it immediately once it hits an exchange). This way you still receive the coin at similar/cheaper prices, and you don't have to send personal documents to random people on the internet.
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?
when I send my identity card is this safe? could it be misused?
Had many people disagree for the kyc verification because need to show the identification of the user but u think there nothing problem for this requirement i also submit kyc verification to claim my coins as participant in bounty campaign before I participate in the btc signature campaign, so far there is nothing bad feedback for my safety.
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?
when I send my identity card is this safe? could it be misused?
The thing is you have only two options while investing your money, either you submit the ID and then get verified share holder or else do not invest at all. The third option would be buying the coins when it hits the exchanger but thats will make you miss the opportunity to buy the coins at lowest prices and be a early bird.
KYC is Madame thing by all the governments now, so exchangers have to submit it so that they can asses the real person is investing money. Also this helps the safety and security of the funds at times.
We can not surely state that they are safe because we are always seeing that there are so many fraud cases of ICO project itself. Now giving our original docs to such people is far difficult to imagine in first place. But as I said we are limited on the option.
I thought KYC are just for investors and not for bounty campaign participants. Why would the bounty manager needs a KYC for signature campaigns?
I think kyc is fine but only the basic if it's for bounty because i read some weeks ago that some project sell the participants data so it's very dangerous. Bounty participants also have to choose what project to give their data for. If the project is great and the amount is a lot, it's worth to do the kyc but if the amount is only a little then i think it's not worth to do the kyc.
That's true. Giving out your personal information is dangerous. It can be used for scams or your identity may get stolen. In participating in bounty campaigns with KYC, we have to be cautious and secure of our personal information. There are many phishing sites out there that fool a lot of the people. Of course, KYC is done to avoid fraud but we must be cautious ourselves.
I think the bounty thread needs to resist KYC data.
Because no one knows what these KYC data are used for, I think it's a very dangerous thing to give our KYC data.
Because no one knows what these KYC data are used for, I think it's a very dangerous thing to give our KYC data.
I totally agree with you it is very risky to provide your personal data just for some tokens. I stopped participating in the bounties those requires KYC documents.
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?
It could be either safe or misused, it is safe if the company requires to do KYC for their token holders to avoid illegal conducts and it could be misused if the company has an anonymous team they can use your identity to do illegal things. when I send my identity card is this safe? could it be misused?
several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?
It is not safe and it could be use in illegal activities if it falls in the wrong hand. Selling personal data in darkweb is also rampant that is why I suggest that don't join in a bounty where there is a KYC requirements. Bounty managers must also announce it before the campaign to avoid any problem and report to the DT's that may affect the credibility of the project. when I send my identity card is this safe? could it be misused?
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