Topic: Token distribution using KYC verification - page 3. (Read 952 times)
Well, as part of a new rules implementing KYC program for securing identity or verifying customer of every holder in time of distributing of rewards as a payments in bounty campaign it is safe act of giving your identification because only admins of bounty campaign will know that and its part of the rules in protecting the personal information of others too. In addition to that most bounty campaign only required the investors to pass 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?
Previously I am not in favor with having kyc for the bounty hunters like me, but now knowing that there are many people who take advantage in joining bounty campaigns with multiple account just to have huge share from the bounty pool budget I can see the importance and usefulness of having the kyc as it limits and restrict bounty hunter participants to claim their token rewards using multiple social media account and others. Come on people stop being greedy and be fair!
Many People don't like KYC verification actually. Its forbidden in some countries to buy crypto.some can use identity cards and some people use passports.
I think the reward needs to be verified by KCY solely because of the laws of the local government.
This is also good for rewards because there are multiple accounts and the number of kyc will decrease.
This is also good for rewards because there are multiple accounts and the number of kyc will decrease.
There is two sides by using KYC the positive and the negative side, but 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.
They do not guarantee that you personal data will be safe, so I just try to avoid such projects, if possible.
Because no one knows what these KYC data are used for, I think it's a very dangerous thing to give our KYC data.
They do not guarantee that you personal data will be safe, so I just try to avoid such projects, if possible.
please, do not think negatively. actually KYC is required before the token is distributed to minimize fraud and multiple accounts. so keep enjoy for the better future with your bounty reward
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.
No not safe, probably ok for the large ICOs though, if they've just raised $20 mil then I doubt they'll bother to sell your details for a few $s.
I am not in favor of this token distribution using KYC. For all I know, KYC are only required in investing procedures. But for bounty token distribution, this must not be necessary. I also noticed that some new projects are now asking for KYC but I don't see the relevance. I skipped from a certain project if this includes to the rules. Because I really don't know why they are collecting participants personal data, for what reason?
KYC is usually used for airdrop because many use double account, if KYC is used for bounty i feel safe, as long as we do not send your wallet key, but we still have to be alert with data we send by choosing bounty which is official not fake or less obviously, our hope is evaded from crime
It's not worth to do KYC to receive airdrop tokens, actually airdrop tokens value not worth it, how do you know they won't use your document doing other stuff? bounty not same as airdrop, if you bounty reward is high and it's worth to pass KYC and receive your $$$, anyway it's up to you I cannot answer or give guarantee whether the document that we upload for KYC will be safe or not. I myself also do the KYC to claim my rewards from bounty programs. It is actually worried to give our ID to the people that we don't know there. But, I always make sure myself to believe in them. They commonly have promise and responsible to keep our private identity.
These are only promises. Unknown people can do anything with my documents, it's even against the law. KYC can be justified only in case of investing a large amount of money, but for bounty hunters this is unacceptable. They only give their work to the project.I cannot answer or give guarantee whether the document that we upload for KYC will be safe or not. I myself also do the KYC to claim my rewards from bounty programs. It is actually worried to give our ID to the people that we don't know there. But, I always make sure myself to believe in them. They commonly have promise and responsible to keep our private identity.
These are only promises. Unknown people can do anything with my documents, it's even against the law. KYC can be justified only in case of investing a large amount of money, but for bounty hunters this is unacceptable. They only give their work to the project.
I cannot answer or give guarantee whether the document that we upload for KYC will be safe or not. I myself also do the KYC to claim my rewards from bounty programs. It is actually worried to give our ID to the people that we don't know there. But, I always make sure myself to believe in them. They commonly have promise and responsible to keep our private identity.
It is true that KYC may lose personal information and may be abused, but with cooperation on the internet there is no easier way to identify honesty and responsibility.
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?
We can't be so sure if your identity is safe or not. The moment you gave them your identity you have no control of it. I understand why you gave them your identity. You want to get the payment you worked for. But before giving them your identity, don't you think about if it safe or not ? How much you trust those persons?
Could it be misused ? BIG YES. Even though you do not have permission to them.
I personally actually do not like the KYC system. because the longer the form of the required form is more strange. many requests that I do not think are necessary. The purpose of KYC is actually just to improve security only. I also read a lot of less good comments about this KYC. Not to mention after charging, many of which are not continuing. And the tokens are not immediately distributed.
hope alone surely this would be safe. Indeed the suspicion and fear of hacking identity certainly exist. But if that is not done then all along undertaken will also be futile anyway. If feel confident then just trust that it will be safe.
This is not something new. There are increasing number of projects that are lately doing this due to regulatory rules. ICOs are not allowed in many countries like the United States reason why they are verifying participants. Some others won't verify small amounts though.
Of course if you will send your private data to every project - some of them will definetily resell it on darknet. Just try to filter good projects with reliable reviews from ICOdrops, IanBalina, CryptoDiffer, Midgard and so on...
The bounty that forced KYC before distributing the Token thought it was superfluous. Because the total number of Token issued for Bounty accounts for less than 5% of the Token. So KYC should only make the Token sale because the number of Token for sale will be up to more than 50%.
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