Token distribution using KYC verification

[tangbori]

I think using KYC for token distribution is good especially to reduce cheater participants,but the particular ico asking  for participants information should make sure all the information are safe.

[aokiji06]

KYC is usually used for airdrop because many use double account, if KYC is used for bounty i feel safe, as long as we do not send your wallet key, but we still have to be alert with data we send by choosing bounty which is official not fake or less obviously, our hope is evaded from crime

[FsJsxy]

No, in general it is not safe. They can use your data for personal purposes. We need to do something with this , need a program in which once you pass the verification.

[itasannah]

Yes, some bounty programs are now using KYC to receive the rewards. Actually, some of them have told about it in the earlier (or we can also ask about KYC necessary for bounty when going to apply for the bounty program). But some of them only announce it after the end of ICO. For some people may be no problems. I myself also have no problem with it. But, I'm a little bit afraid of the privacy of my identity. Hopefully, they are really honest and responsible to keep ou document and ID perfectly. It will be so dangerous when our document is used for other irresponsible activities.

[mprepkiah]

as far as I know the identity we send for secure payment claims because kyc just ensures that we are not the ones that are banned from cryptocurrency but I hope the forum admin should create new rules about projects that use kyc

[LazzierGGO]

yeah so far the KYC (Know your Customers) is safe, and i hope from now on the identity we submit for KYC will not be misused,Fraud. and share to third party.
KYC on Bounty for avoid cheaters, multi account, and etc.

[Bitcoincole]

Well, as part of a new rules implementing KYC program for securing identity or verifying customer of every holder in time of distributing of rewards as a payments in bounty campaign it is safe act of giving your identification because only admins of bounty campaign will know that and its part of the rules in protecting the personal information of others too. In addition to that most bounty campaign only required the investors to pass KYC.

[nguyenkhanhhung14]

The bounty that forced KYC before distributing the Token thought it was superfluous. Because the total number of Token issued for Bounty accounts for less than 5% of the Token. So KYC should only make the Token sale because the number of Token for sale will be up to more than 50%.

[Osiris0]

Of course if you will send your private data to every project - some of them will definetily resell it on darknet. Just try to filter good projects with reliable reviews from ICOdrops, IanBalina, CryptoDiffer, Midgard and so on...

[V1saya]

This is not something new. There are increasing number of projects that are lately doing this due to regulatory rules. ICOs are not allowed in many countries like the United States reason why they are verifying participants. Some others won't verify small amounts though.

[Sarisang]

hope alone surely this would be safe. Indeed the suspicion and fear of hacking identity certainly exist. But if that is not done then all along undertaken will also be futile anyway. If feel confident then just trust that it will be safe.

[sabtu malam]

I personally actually do not like the KYC system. because the longer the form of the required form is more strange. many requests that I do not think are necessary. The purpose of KYC is actually just to improve security only. I also read a lot of less good comments about this KYC. Not to mention after charging, many of which are not continuing. And the tokens are not immediately distributed.

[JoMarrah Iarim Dan]

several bounty projects, are now beginning to implement KYC on the distribution of their tokens
when I send my identity card is this safe? could it be misused?

We can't be so sure if your identity is safe or not. The moment you gave them your identity you have no control of it. I understand why you gave them your identity. You want to get the payment you worked for. But before giving them your identity, don't you think about if it safe or not ? How much you trust those persons?

Could it be misused ? BIG YES. Even though you do not have permission to them.

[Bobrisky799]

It is true that KYC may lose personal information and may be abused, but with cooperation on the internet there is no easier way to identify honesty and responsibility.

[bezzler]

I cannot answer or give guarantee whether the document that we upload for KYC will be safe or not. I myself also do the KYC to claim my rewards from bounty programs. It is actually worried to give our ID to the people that we don't know there. But, I always make sure myself to believe in them. They commonly have promise and responsible to keep our private identity.

[landysh007]

I cannot answer or give guarantee whether the document that we upload for KYC will be safe or not. I myself also do the KYC to claim my rewards from bounty programs. It is actually worried to give our ID to the people that we don't know there. But, I always make sure myself to believe in them. They commonly have promise and responsible to keep our private identity.

These are only promises. Unknown people can do anything with my documents, it's even against the law. KYC can be justified only in case of investing a large amount of money, but for bounty hunters this is unacceptable. They only give their work to the project.

[yomikiyao]

I cannot answer or give guarantee whether the document that we upload for KYC will be safe or not. I myself also do the KYC to claim my rewards from bounty programs. It is actually worried to give our ID to the people that we don't know there. But, I always make sure myself to believe in them. They commonly have promise and responsible to keep our private identity.

These are only promises. Unknown people can do anything with my documents, it's even against the law. KYC can be justified only in case of investing a large amount of money, but for bounty hunters this is unacceptable. They only give their work to the project.

Yes, it is impossible to ensure that the project side is safe to protect KYC data. In the Internet era, anything valuable can be sold. We can only reduce the frequency of use.

[ccsang]

KYC is usually used for airdrop because many use double account, if KYC is used for bounty i feel safe, as long as we do not send your wallet key, but we still have to be alert with data we send by choosing bounty which is official not fake or less obviously, our hope is evaded from crime

It's not worth to do KYC to receive airdrop tokens, actually airdrop tokens value not worth it, how do you know they won't use your document doing other stuff? bounty not same as airdrop, if you bounty reward is high and it's worth to pass KYC and receive your $$$, anyway it's up to you

[staradvincula]

I am not in favor of this token distribution using KYC. For all I know, KYC are only required in investing procedures. But for bounty token distribution, this must not be necessary. I also noticed that some new projects are now asking for KYC but I don't see the relevance. I skipped from a certain project if this includes to the rules. Because I really don't know why they are collecting participants personal data, for what reason?

[sophiawhite]

No not safe, probably ok for the large ICOs though, if they've just raised $20 mil then I doubt they'll bother to sell your details for a few $s.