KYC challenges

[mirakal]

Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?

Depends on the laws and regulations in your territory. In many of the countries, KYC is mandatory if you are dealing with currency or financial assets. The level of KYC required can vary. In some nations, just a phone number may be enough. In some others, passport details and address proof may be required.

It's necessary that we follow the KYC.
It's not really hard, it's just a basic requirement every time you invest and even open a bank account.
The law will be implemented, otherwise you will not be able to avail on the financial services.

In crypto, I have complied a lot of KYC requirement especially in bounty, but only those that I believe are legit and can be trusted.

[robelneo]

Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?

You just follow the rules on how they want their customers to do KYC for them if they want a passport and a selfie with you holding your passport then you just have to give it to them, I think it is one of the effective ways to do KYC, some people are cheating the KYC by submitting other people's passport, and about your questions is it even needed, in my opinion, we don't need that if we are in their bounty campaign, but not if we are their investor.

[AngelSky]

Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?

You just follow the rules on how they want their customers to do KYC for them if they want a passport and a selfie with you holding your passport then you just have to give it to them, I think it is one of the effective ways to do KYC, some people are cheating the KYC by submitting other people's passport, and about your questions is it even needed, in my opinion, we don't need that if we are in their bounty campaign, but not if we are their investor.

Providing KYC details for the bounty campaigns is not good actually.

When you want to participate in the bounty campaign please read the norms for the payments as well as about the ICO idea before you plan to join with them.
Mosly people do not take time to see all these things while joining the bounties.

[Reatim]

Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?

You just follow the rules on how they want their customers to do KYC for them if they want a passport and a selfie with you holding your passport then you just have to give it to them, I think it is one of the effective ways to do KYC, some people are cheating the KYC by submitting other people's passport, and about your questions is it even needed, in my opinion, we don't need that if we are in their bounty campaign, but not if we are their investor.

Providing KYC details for the bounty campaigns is not good actually.

When you want to participate in the bounty campaign please read the norms for the payments as well as about the ICO idea before you plan to join with them.
Mosly people do not take time to see all these things while joining the bounties.

Personal information for bounty rewards, risking important details for how much? it's hard to trust someone over the net, you don't know where the team will use those information, be realistic and always go at the safe side, in any case research and study every possibilities before you submit anything to the people you don't even know personally.