the benefits of kyc for bounty programs.

[pinoyden]

I want to ask about the KYC in the world of bounty, what is the benefit of kyc?
1. only for identity
2. reduce multi-account participants

I want to ask seniors who have long been in the bounty world because I am still a newbie. Please enlighten me. thank you

I think the only one benefits of KYC in bounty is the reduce of multiple accounts that abuse the bounty or always cheat. Because of KYC we avoid some cheating in bounty campaign. And that's the only one benefits that we can get in KYC .

i believe kyc is built not because they want to reduce abusers but because they want to comply with the rules regarding on regulation of banks/money but at the same time kyc do also have another positive effect and that is to reduce cheaters from partipating on their ico or bounties .

Kyc is also a hassel to most of us because not all can complete this step due to the fact that it requires an advanced i.d such as drivers license or a passport on which most of us didnt have but the best and legit bounties nowadays are always requiring this  .  so sad

[1714689965]

1714689965

[mandor]

in my opinion about KYC for the bounty world is the first to be sure to know the recipient's bounty and second to know identity multi-account participants, but the benefits of KYC are to prevent fraud because many people want to get rich quick through many accounts. but there are also many people who don't like KYC because they don't want they identities to be known by many people.

[legendbtc]

I do agree with KYC, a procedure in order to control the flow of multiple accounts and for audit purpose, they need to show to the government what was the total issued to the public. In some countries, they are following according to their rules and regulation of the ICO and that's why they are collecting the KYC procedure.

[hidrocop]

my credentials , I can get into the hands of malicious people, and they use my credentials for illegal activities. KYC always involves risk

[Leonard2016]

In my view they do it to fight against scams and multiple accounts , also to prevent some countries they dont want them to participate , But i think there must be another way for them to do that without KYC , I'm not eager to reveal my identity for others . and still using KYC doesn't give them 100% guarantee that people dont make fake accounts!

[jrrsparkles]

In my view they do it to fight against scams and multiple accounts , also to prevent some countries they dont want them to participate , But i think there must be another way for them to do that without KYC , I'm not eager to reveal my identity for others . and still using KYC doesn't give them 100% guarantee that people dont make fake accounts!

Most of the time KYC for the bounty hunter introduced at very last time,if they really want to restrict multiple accounts means they need to do at very first so which chows that they are not interested to restrict other than paying their participants with the name of KYC.

[rudhi ratama66]

kyc or can be referred to as KNOW YOUR CUSTOMER, the principle applied by the project developer is useful for getting payments that you receive.
because some projects are banned in some countries, so you have to fill in your personal identity

[Rhosadah]

When it was initially for investors, the project avoided the practice of money laundering, which was used by many corrupt mafias, but now it began to be applied to the bounty community. I felt the goal was to avoid fraudulent perpetrators who used many accounts to gain profitsgreat, this goal is very good for the bounty community to get gifts evenly and real.

[ciang huang]

but if I myself better avoid KYC in the bounty that I fear is my own data is afraid of being used by other people who are not responsible if in my own opinion, bro.