I've heard that some people sell on the black market gigabytes of databases of people who have sent their personal data to unknown people.
Yeah, they might do that. There are ICOs that are initiated just to scam people. After successfully scamming those people, they end up selling their information (ID, address, bills etc) on the black market to earn more. If they can scam people, they will not hesitate to do this too. That is why, while sharing your information, make sure you are sending it to a very trusted project/people. Not some random project which are developed from their basements. 
Topic: What does KYC gives you ? - page 24. (Read 26241 times)
KYC improves and assures the authenticity of every people or persons who joins the ICO. In order for them to meet their quota of participants with legitimate identity and identify every users who register if they are unique or registered before.
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 is nothing wrong with KYC, as long as it is being used legally, but be careful sometimes because KYC documents has been sold in the black market, based only on what ive heard, so ill be more careful next time on what ICO or projects to be participated with KYC verifications, our identity is much more important than those cheap ICO's. In fact, in my months of joining bounties with KYC, i never encounter theft identity, all of my joined projects paid well, who knows in the long run. So better be careful.
Passing this procedure gives you the right to participate in the purchase of coins or the right to payment if the project requires for this to go through this procedure. An KYC is always a risk that your data will fall into the wrong hands. Therefore, always ask yourself how high the risk is.
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
Some bounties require KYC to comply with the law depending on where the project is created. The reason why they conduct KYC is because in some countries it is illegal to invest in crypto, so to abide with the law, they require participants and investors to pass the KYC.
İ am not joining airdrops and bounty campaigns which want Kyc. Because I don't trust a very new platform for share my credentials.
The overall idea behind KYC is quite commendable, although sometimes it could be about regulatory rules but sometimes, it is enforced to check cheating, if most airdrop or bounty hunters are not kept in check, they would find ways to cheat the system and other hunters.
But not all projects are genuine, some just wants to steal people's information so always be careful about the kinds of places where you input your personal information.
But not all projects are genuine, some just wants to steal people's information so always be careful about the kinds of places where you input your personal information.
I've heard that some people sell on the black market gigabytes of databases of people who have sent their personal data to unknown people.
For the airdrop and bounty scam, they asked KYC to sell the database on the black market. And the information of the KYC will be revealed and used for a variety of purposes. Of course it will be is bad and it will be dangerous for those people 
Know your customer is a process to verify that you are real human, for completing it, you will not receive anything.
But there are exceptions, some ICOs offer tokens for free if you complete a KYC
.
But there are exceptions, some ICOs offer tokens for free if you complete a KYC
.
I've heard that some people sell on the black market gigabytes of databases of people who have sent their personal data to unknown people.
Kyc is now a necessity for a project to enter into an exchange, as proof that they have a real community
Not all project actually, and not all exchanges, some people does not want their personal information to get revealed so they will choose to investin a project where no KYC requirement and they can only trade in decentralized exchange. I believe decentralized exchange is gonna be our future but
I am worried how the government will act on the regulation side.
Kyc is now a necessity for a project to enter into an exchange, as proof that they have a real community
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
In some countries it is forbidden to participate in the ICO. Developers want to protect themselves and ask you to go through KYC to verify your citizenship if you are an investor.
I haven't done KYC myself but i believe being conscious is the proper action towards joining those bounties, specially airdrops, which requires KYC. You might want to ask the people behind it for any legal documents that would support any KYC requirement. This would make you safe for identity thief i believe.
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
Bounties and airdrops do not need KYC, if they are asking be careful because if they are Scammer they can use your personal data for there benifits . Requirement of KYC depends on project and there team.
I have an absolutely negative attitude to the KYC procedure in bounty, for those who participate in the ICO it is important to confirm their identity and thus obtain insurance. KYC is a complete lack of privacy which is the Foundation of the crypto world.Second, who will protect my KYC documents data?.
if investors have to pass the KYC, then let the team to pass kyc also, coz many teams can be just a scam. What do you think about?
Good suggestion, it's fair, the thing is they are the one who will conduct a KYC so we are controlled by them. We just have to choose a team that has a name in the industry so we can trust them, if the government will required the KYC, maybe there will be a certain agency that will handle this and this would be more safer.
if investors have to pass the KYC, then let the team to pass kyc also, coz many teams can be just a scam. What do you think about?
I still have a bad attitude to ICO that require hunters to pass the KYC, but I slowly put up with it and now I also take part in bounty companies that require to pass KYC, as often come across good projects with KYC.
honestly, I am not sure, but with the regulation, it requires positive and negative side of KYC. the positive is to avoid people participating with multiple accounts and further increasing security, the negative is sometimes not commensurate with the rewards of tokens that are not worth much then many think our identity is used for cyber crime. we better be careful because there have been widespread fraud cases.
Jump to: