Topic: What does KYC gives you ? - page 36. (Read 26241 times)
KYC literally means Know your customer. It doesnt give you anything, it sets a restriction level and an access level for all customers at the particular time. For example there is a restriction to US citizens participating in some sites. Its possible for them to try to bypass such sites and want to join, now on joining, nothing would be accessible to him depending on him verifying his details which most likely is very good and also to avoid multiple accounts and also scammers.
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
KYC is like giving some of your information to them for verification purposes like in participating in some bounties to somehow avoid duplicates . I do not participate on ICO's that required like that .
I don't know much about KYC cause I've never had to do KYC before but I can see that there are a lot of bounty participants and investors don't agree about KYC for ICO project and bounty campaign as well cause it's really risky for their ID document cause it can be sold if the data of campaign or project leaked.
KYC in the end just humiliating. When you do a selfie with a passport and a certificate of utility services have a pathetic, begging, fawning look. You're feeling awkward.
KYC is now becoming almost a mandatory procedure with participation in the ICO, as well as with participation in the bounty. Plus since it cuts out a lot of mults increasing pool bounty.
it stop money laundering and multiple account but i still dont think is neccesarry for bounty
KYC helps to secure an account or a private office on the site. I think that in general this is a very useful thing, although it can be very inconvenient.
I think kyc is a system that developers use to minimize cheats,,, they want bounty / airdrop participants not to use multiple accounts. Actually dev can not misuse KYC information it does not cause any problem whatsoever. But for myself,,, I'd rather not follow that bounty / airdrop. I do not want to give my personal information to strangers.
Some of the ICO really good and they do not use the KYC details for any shit purposes. In the same time you can find the some shit give the Google spreadsheet here on the forum like saying they are giving your tokens as a airdrops mate.
Most of the bounty campaigns does not ask the KYC details to distribute the tokens with the participants.
Like you all the newbies think that their KYC details are safe or not means then everything will be settled good.
I think kyc is a system that developers use to minimize cheats,,, they want bounty / airdrop participants not to use multiple accounts. Actually dev can not misuse KYC information it does not cause any problem whatsoever. But for myself,,, I'd rather not follow that bounty / airdrop. I do not want to give my personal information to strangers.
Only one thing for sure, kyc is giving your full details just to recieve the bounty reward. Just to be true to myself i dont like submitting kyc to recieve bounty rewards.
you will be notified about this and you will receive tokens on your wallet, which indicated
Unfortunately there are some bounties will notified you after bounty ends. This should be notified since bounty started, so all participants can choose whatever what will they do (participating or not).
KYC gives protection. Though it has a disadvantage of not withholding the privacy, due to the presence of KYC you can know the person with whom you are making the transaction.
They steal out personal data through KYC, later they send junks of emails, sms, phone call wasting our time.So KYC is not good.
It all depends on you, if you are sure, please fulfill the requirements of KYC.
I personally do not like KYC, but if the terms only ask for driving license and proof of address I will fulfill it. The rest I do not want.
I personally do not like KYC, but if the terms only ask for driving license and proof of address I will fulfill it. The rest I do not want.
Usually companies carry out the procedure of the KYC to avoid possible charges of money laundering and terrorism financing. If the company is registered in a country where there are such laws, for example the US, then there is nothing terrible in KYC procedure. Personally, I, for the sake of Airdrop would not send documents. For the bounty campaign it is normal i would send.
KYC stands for know your customers... It is used to reduce fraudulent activities etc. So any bounty or airdrop requiring it , most times are legit. This is because they are trying to comply with international standards...
you will be notified about this and you will receive tokens on your wallet, which indicated
Unfortunately there are some bounties will notified you after bounty ends. This should be notified since bounty started, so all participants can choose whatever what will they do (participating or not). 
you will be notified about this and you will receive tokens on your wallet, which indicated
Unfortunately there are some bounties will notified you after bounty ends. This should be notified since bounty started, so all participants can choose whatever what will they do (participating or not). 
IMO, I think KYC in bounty and airdrop is not necessary because the number of Tokens issued for each campaign is tiny. Only KYC with the investors because the number of Token released to sell up to 60% while Token for bounty and airdrop is always below 5%. KYC make many people disclose personal information and whether the bounty manager has secured that information?
I've encountered two bounty campaigns that require KYC. The first one got my ID, but then I realised how many scammers there are (not the one I sent my ID to). From then on I did not participate in any bounties requiring KYC. The risk is to big.
If(!) you do decide to send in an ID, then don't forget to:
1. watermark it (eg: "copy for bounty ...)"
2. blur out your social security number. You do not want identity thiefs to get their hands on that on.
This problem is extremely delicate as more and more projects are requesting KYC to verify their identity, but I am really worried about their registration information being used for bad purposes. Be cautious with your personal information in the cryptocurrency market, that's what you should do. If(!) you do decide to send in an ID, then don't forget to:
1. watermark it (eg: "copy for bounty ...)"
2. blur out your social security number. You do not want identity thiefs to get their hands on that on.
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