Token distribution using KYC verification - page 6.

kriticko29

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Activity: 336

Merit: 100

Quote from: Disclaimert on March 31, 2018, 02:23:42 AM

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 don't think that it would be misused since they are only using it for records to whom they have distributed their tokens. I guess we should use government Issued ID's rather than using personal one's. Mostly on countries where cryptocurrency is not yet that popular the need logs of users in which they have sent their tokens or services.

DMiracle1

full member

Activity: 210

Merit: 100

We cannot blame them for doing this. Some ICO's were just following a complete integration with Ocular’s Anti- Money Laundering (AML) compliance platform that provides instant verification of a customer`s background (KYC). We as participants to this ICO just have to trust them that our informations will be safely handled.

peleng

full member

Activity: 196

Merit: 101

Quote from: Skieleton on April 04, 2018, 04:19:50 PM

Quote from: Disclaimert on March 31, 2018, 02:23:42 AM

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?

Sometimes the reward is low-value tokens and giving full data is unprofitable and dangerous. They often want photos of a document. In my country, you can not disclose such documents because you can have big troubles in this way.

It seems to me that it is not safe in almost any country. Sending copies of personal documents is absolutely unacceptable. Moreover, most of the projects themselves do not provide any official documents. Thus, I must provide my documents to some unknown people who will probably use my data for illegal purposes.

Skieleton

sr. member

Activity: 686

Merit: 282

Quote from: Disclaimert on March 31, 2018, 02:23:42 AM

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?

Sometimes the reward is low-value tokens and giving full data is unprofitable and dangerous. They often want photos of a document. In my country, you can not disclose such documents because you can have big troubles in this way.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: ruffles2016 on April 03, 2018, 12:35:45 PM

I have already sent my personal information including photographs, passport numbers so on to many ico pages. So its already gone for me. But I wish we could turn back time to good old days when crypto was underground and we were anon. It was better.

If you keep giving your information away then we are never going to go back to those days, after all why icos will stop asking for your information if you keep giving up that information to them? The only way this stops is if everyone or almost everyone stopped accepting this, that is very unlikely because many people here only care about making money and if they have to give that information away they're going to do it.

GandiwaSF

full member

Activity: 364

Merit: 100

some of the kyc requested I think is quite safe but there is little concern in misuse. so be wiser, if sure send it if not leave it nothing is entirely safe stay be careful.

ruffles2016

sr. member

Activity: 475

Merit: 250

Presale is live!

I have already sent my personal information including photographs, passport numbers so on to many ico pages. So its already gone for me. But I wish we could turn back time to good old days when crypto was underground and we were anon. It was better.

kris679

newbie

Activity: 224

Merit: 0

I think that you can trust!
They do it to get rid of the feces and pay real people and not all the money in one pocket, I think they have enough earnings so you do not have to cheat with other people's documents!

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: Janademir4 on March 31, 2018, 11:55:53 PM

Quote from: South Park on March 31, 2018, 04:31:20 PM

Quote from: Disclaimert on March 31, 2018, 02:23:42 AM

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?

Yes that is a risk, there are some good icos around but taking into account that most of those projects are scams that are never going to become successful at all then I will probably avoid sending any kind of documentation to them this mean that you'll probably be unable to join many bounty projects out there but in my opinion your personal information is a lot more valuable than just a bunch of tokens.

then what if we have sent identities and after that just found out that the bounty project is a scam? whereas we have already sent our identity? how to identify the good or bad of each bounty project?

If you have already sent out your information and your documentation to the ico developers of a particular coin then there is nothing to do except hope that they are honest people that is precisely what we were trying to avoid by using cryptocurrencies, to try to avoid trusting in other people to manage our information and our money, I find it very high ironic that we are falling on the same pattern of banks and if that is the the case then there is no point for cryptocurrencies.

rumexx

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Activity: 476

Merit: 100

I do not understand the need for a bounty hunter to send documentations for KYC. It is a ploy for the managers to deny paying bounty hunters. You can send and be hopeful that it will not be used for dubious purpose. My brother pray.

barhavsky

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👉bit.ly/3QXp3oh | 🔥 Ultimate Launc

at this time almost all ICO requires its investors to do KYC to be able to follow ICO even bounty participants are now required to do KYC to get the coins.
Although a little worried about our misused identity that can harm us but KYC becomes an obligation to get the coin.

Raggie

member

Activity: 462

Merit: 10

Quote from: Disclaimert on March 31, 2018, 02:23:42 AM

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 think it won't be misused.
now i ask you, how about the investors who invest in the ICO that require KYC to participate ?
Many investors wouldn't want to invest their funds in ICO if their identity is going to misused by the ICO organizer.

OneCoinMan

member

Activity: 644

Merit: 12

Alternative investment banking platform

Quote from: Mr.Freeman on April 01, 2018, 08:32:57 AM

And all of them say that their data should not be given for free, but sold.

A very strange expression, it looks like a trick from a darknet. Perhaps, you meant a fee for their services, not that they will sell our data Grin

It's illegal anyway, or I misunderstood you

Mr.Freeman

full member

Activity: 462

Merit: 114

“The Future of Security Tokens”

Now the KYC even several projects have passed: KYCLegal, VeriMe. And all of them say that their data should not be given for free, but sold. And we simply become hostages of payments of rewards or earnings on investments.

CageMabok

hero member

Activity: 1050

Merit: 844

I think the KYC formulis can be used by certain parties to steal our data,I strongly agree with his existing KYC reduce double account,In addition I was afraid with there kyc this even in stolen our data

nhattori27

member

Activity: 387

Merit: 11

I don't feel confident about it, so I am not interested to participate in bounties that require KYC verification. It is not safe at all. There are many instances of misusing of personal information.

KrishaBitcoin

member

Activity: 350

Merit: 11

W12 – Blockchain protocol

Quote from: Disclaimert on March 31, 2018, 02:23:42 AM

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?

As long as the ICO project is legit or not a scam then it is safe for us to pass our required identification documents so therefore we must ensure that the ICO is not illegal because once we failed to verify the legitimacy of the project facilitators in which we have given them our identifications and personal details then the possibility that it might be use in illegal activities is huge.

AIRDROPSQUAD

member

Activity: 252

Merit: 11

PLAYHALL - SKILL GAMING PLATFORM

I think this all misguided issue for Bounties campaign. KYC means "Know your customer" not for bounty participant.
I also a little bit skeptical about KYC for bounty. KYC should be for INVESTOR. Because of the bounty participant, not an Investor.
Personally, I avoid several bounties which need KYC when claiming the rewards.

Janademir4

full member

Activity: 238

Merit: 101

Quote from: South Park on March 31, 2018, 04:31:20 PM

Quote from: Disclaimert on March 31, 2018, 02:23:42 AM

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?

Yes that is a risk, there are some good icos around but taking into account that most of those projects are scams that are never going to become successful at all then I will probably avoid sending any kind of documentation to them this mean that you'll probably be unable to join many bounty projects out there but in my opinion your personal information is a lot more valuable than just a bunch of tokens.

then what if we have sent identities and after that just found out that the bounty project is a scam? whereas we have already sent our identity? how to identify the good or bad of each bounty project?

anthinguy21

full member

Activity: 280

Merit: 101

OPEN GAMING PLATFORM

It is essential for KYC to invest in ICOs because if one buys too many Tokens of the project, it will lead to manipulation of the exchange rate. Therefore, KYC is mandatory, limited to a maximum of 10 ETH. For Bounty, I do not think it is necessary because the total Token issued to Bounty is always below 5%.

Topic: Token distribution using KYC verification - page 6. (Read 931 times)