Are You Afraid of KYC?

[peacefulpeace]

It feels like another problem such as merit system. KYC is another trial and big problem also in the users just like you and me. I agree for KYC to prevent scammers and multi account also. But as I recall many users are didn't pass KYC in their campaign and they didn't get their tokens so this is another disadvantage of users for requiring KYC. And many campaigns also are slow for auditing the KYC as you can see many users probably students because they didn't have government ID just like KYC requirements. But in the end this KYC process is a problem. This is a concern who are bounty hunters.

the kyc process is just an avenue for ico to know who they are dealing with, vis a vis to also check multiple account holders, i have done kyc on multiple campaigns and i got my tokens as it was stated in the campaign, on a personal note i am not afraid of the kyc process, i think its a welcome development and i expect other hunters to feel the same well, the only reason to be scared of such a process is if one has multiple accounts or probably someone with a bad intentions, a scammer.

[kwabeedat]

Somehow yeah. It's dangerous to submit your personal details to someone you don't know or a company that isn't officially recognized. Any one can claim to need KYC for a project and we might not know rhe persom asking for those details.

[Bharat24]

In my opinion KYC makes the mark of name centralised if security provided for personal information.

[bitcoinveda]

I only do KYC in exchange sites and good ICO project which I want to invest and trusted. I don't do KYC for airdrops or bounties.

But if you participated in good bounty (in signature, for example) and you want get your tokens, than you must do KYC, if you don't want to lose your money. For me it's not problem. But you really don't need to do KYC for Airdops. It's fail.

Now, most of the companies are asking for KYC verification but we don't know whether they are asking for security purpose or for promotional purpose. If the project is potential then surely we have to upload the document for KYC verification otherwise, we won't get our tokens.

[Dang Trinh]

I think KYC is necessary, but I fear my information will be leaked and used for malicious purposes.  

[Scarletoverm]

Personally I don't like KYC. It's not bank to require my personal documents, so don't know why should I submit them. Later you can buy your copy on darkmarket

[CoinEraser]

Personally I don't like KYC. It's not bank to require my personal documents, so don't know why should I submit them. Later you can buy your copy on darkmarket

I agree with you. KYC is really bad. I don't take part in any thing in which I have to make KYC. There are just too many fraudsters who are after the data. Since it is not easy to recognize every scam before, I prefer to do without. I also do not want my personal data will ever appear in the darknet. Here in the forum and on blockchains are enough data stored by me.   

[Ozero]

The KYC check, which is sometimes carried out by the ICO team regarding the participants in the ICO signature campaign, is illegal, as it should not spread to us. This check should only be conducted against investors in order to avoid the possibility of laundering dirty money. Participants in the ICO generosity campaign do not invest in ICO projects and therefore the KYC review should not be conducted with respect to them.

[myneymnyeff]

For me , if i think the project is good . I will do kyc

[Kemarit]

You should be worried about KYC, many of these ICOs are not properly equipped to handle and store sensitive data.

In fact, there was a KYC leak just this week;

https://thenextweb.com/hardfork/2018/02/07/sentinel-chain-ico-leak-passport/

I was supposed to post that link, but thanks anyways. So just be reminded of the dangers of posting your personal data just for the sake of getting pennies. Just imagine if you data was leaked on the dark net, you just don't know how those criminals will exploit and took advantage. So the risk has increased many times that I wouldn't take the risk. Plus, there are no real guarantee that this ICO projects are not selling it themselves. And again, if it falls on the wrong hands, we are all going to suffer and the only thing we can do is regret. So as early as today, if you are joining bounty that requires KYC you better think many times before its too late.

[barabarian1]

everyone is afraid if a bounty requires KYC procedures because the security of our data is still not guaranteed by the owner of bounty. our personal data may be misused by anyone so that a review of the KYC procedure is required. so that we as users can feel safe about the data we have sent to the company.

[bozo1]

I'm not a fan of KYC, but KYC is just for taxes. But as far as personal data is concerned, we leave them at every step

[Oliveir]

I am not necessarily afraid of KYC. There's nothing to be afraid especially if you have nothing to hide or if you know you are not falsifying any of your information. Nevertheless, KYC is a means of knowing the user or the customer/member/participant of a company or a project especially if there are money involve. Now, what is actually scary about this is that you are giving personal information to someone who may and can actually use it against you. Having this exchange of information makes you vulnerable to attacks and to identity theft especially nowadays where no on can be trusted over the virtual and online world. KYC should be accompanied by confidentiality clauses and legal contracts but, that, too, is a hassle.

When we are speaking about of legality and formality its okay  to submit  KYC but in this world of crypto currency it's the choice of the team member on ICO project to require it and it's the option of bounty Hunter and investor to join in or no.

[btcdevil]

everyone is afraid if a bounty requires KYC procedures because the security of our data is still not guaranteed by the owner of bounty. our personal data may be misused by anyone so that a review of the KYC procedure is required. so that we as users can feel safe about the data we have sent to the company.

what you said is the main reason why users are afraid of giving the KYC documents. This ICO are also not legal out of 10 project only one or two are genuine balance are just pump and dump so when giving our data can be miss used.

[Spend.com]

KYC should be a simple process of doing the right thing and allowing yourself to do business with other.

[treatWy]

I am not afraid of kyc what am afraid is what if my identity will be steal by the professional criminal and use it. Instantly I will become  criminal unknowing. That is the serious possible things to happen because we don't know who holds our identification files.

[Easteregg69]

I belive they goes with the KYC procedure to look more legit than their customers.

Just bought some small amount of BTC on coinify with creditcard. No KYC requirements found there..

Why? So i can just go in BOOM and buy the coins i want anyday. With a loaded QT.

Or if drugs suddenly becomes legal i can buy some of that for my BTC.

[CharlieB777]

kyc takes away from our anonynimity

[changcloy]

Actually I do not know as far as I understood KYC is made to lessen or prevent scammers here in cypto but I also heard that scammers may used our identity for bad things that is why I don't know if I will be afraid or not?

[joburgtaxi]

people who staying in countries where its illegal those people will be afraid about it.

If you are right, it will harmfull. There are many users from that countries, so all of them must afraid it?