Topic: What does KYC gives you ? - page 22. (Read 26241 times)
KYC doesnt give us anything, however, i hope that it helps to decrease the quantity of multi accounts at least for a bit, because they get too much stakes
gives fear that my personal data will fall into bad hands
and if the KYC-procedure goes through after the end of the project - then some minor concerns that I don’t like checking people and my work will be done in vain)
but more than the first, it's still unknown how my data will be confidential
and if the KYC-procedure goes through after the end of the project - then some minor concerns that I don’t like checking people and my work will be done in vain)
but more than the first, it's still unknown how my data will be confidential
I've always been an opponent of the KYC procedure. I'm not an investor I'm a bounty hunter. Why should I give someone my documents? I don't see any point. So I'm never going to go through that procedure again.
I think KYC for bounty campaign doesn't need to be done, moreover the price of crypto currency which is currently experiencing a huge price decline, is doing KYC only for 5 USD really? KYC is only for ICO participants.
There's a lot of bounties are running right now and we should know that KYC can be implemented when you're an investor. KYC stands for "Know your customer" it's supposed to be for customer of the certain project in order to know the credibility of the investor and to control money laundering.
EFFECTS FOR YOU IN GIVING YOUR KYC DOCUMENT:
1. Your identity can be used in illegal works
2. They can steal your identity (Identity theft)
3. They can sell your identity to others
WHY DO BOUNTY MANAGERS ASK FOR KYC?
1. To control participants
2. To avoid cheating in their bounty campaign
3. Probably they want to steal your Identity
EFFECTS FOR YOU IN GIVING YOUR KYC DOCUMENT:
1. Your identity can be used in illegal works
2. They can steal your identity (Identity theft)
3. They can sell your identity to others
WHY DO BOUNTY MANAGERS ASK FOR KYC?
1. To control participants
2. To avoid cheating in their bounty campaign
3. Probably they want to steal your Identity
Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining
There's no benefit at all for us bounty hunters if we participate in KYC. They'll just be getting our information. Nothing more or less. It's a major benefit for them so they can track scammers and spammers, but technically, KYC for bounty hunters has no benefit.
Nonsense to pass the KYC if you only joined their bounty or airdrop, it needs your personal information, it should be the passport or ID card, you can confirm which project is the true project, or which one is scam, it too risky is give it to the fraud team, and they will sell it in the black market or other.
same question, because now I'm first joining the bounty which requires participants to do KYC, I also don't know effect of what happens when giving identity to people we don't know but I hope it will be fine
In conducting KYC we must be careful and ensure that the procedure is not fraudulent. I have experience doing bounty campaigns and after the project is finished I do KYC to get prizes. And after doing KYC, I haven't got a token yet. It's better if you check before you submit your personal data.
Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining
Check the project first if its legit. Because some of scammers accumulate information/data and they will sell that. So be careful, And for the good ICO/Legit. You need to pass KYC because they needs a data for their project and info about the holders of their token. But don't worry most of them our Info are safety.
KYC is only okay if you are participating in a tokensale especially only in the legit ico project. But disregard making KYC on airdrops because not all airdrops are legit. And it can take risk having those hackers your documents. Stay safe.
For me, KYC does not mean anything good. I now set up a adamant and confident that I am not one. For me, KYC is one negative and I am waiting for it to be canceled
My idea is that KYC is mostly used as a scam, especially by those who require it for receiving airdrops. The anonymity is over. It is not a secret that companies work for money. Therefore they don't give a shit if you are a US citizen etc. KYC is required by asshole regulators that give licenses for such companies. So those who set the rules are the real players in the world
Looking of course what project you choose, of course a lot of scams in this and your documents can be transferred to other persons, choose proven projects and there only pass
KYC has become the order of the day, most ICO and bounties requires KYC and I think some do for the sake of meeting the regulation requirements while other do to to weed off some cheaters in the bounty.
I have a negative attitude to the KYC procedure. It gives nothing. On some projects, after passing this procedure, the reward is not given, coming up with different reasons.
For many it gives security and confidence, the exchange gains a little more confidence knowing that behind those purchases there is a real person verifiable and traceable, I understand that since they are handling a lot of money from different people, what I do not accept is that the ICO or airdrops that are starting now, also ask KYC to give you a few tokens.
It is relatively unsafe to send your personal data. If you do not trust the project, it is better not to do it. In a good case, nothing will happen, in a bad case, your data can be sold to some advertising companies.
I will never take part in an Airdrop that requires KYC, because I find it pretty useless. But it could be very helpful to detect cheaters and scammers during bounties, because a lot of people are using multi accounts to trick the team.
The question is really interesting, because I am also a supporter of anonymity in the network and in investing, because I just don’t understand why I need to go through the KYC procedure is the need of only developers, so I think that it is dangerous for investors.
Protection wise, it's not favoring the investors but the developers are, before, there's no need of anything and it works and survive, but now KYC was being implemented and there's no positive effects might also the reason why investors who doesn't like to reveal their identity already stay away from crypto and find other venue to earned. Jump to: