Token distribution using KYC verification

[ruffles2016]

I have already sent my personal information including photographs, passport numbers so on to many ico pages. So its already gone for me. But I wish we could turn back time to good old days when crypto was underground and we were anon. It was better.

[GandiwaSF]

some of the kyc requested I think is quite safe but there is little concern in misuse. so be wiser, if sure send it if not leave it nothing is entirely safe stay be careful.

[South Park]

I have already sent my personal information including photographs, passport numbers so on to many ico pages. So its already gone for me. But I wish we could turn back time to good old days when crypto was underground and we were anon. It was better.

If you keep giving your information away then we are never going to go back to those days, after all why icos will stop asking for your information if you keep giving up that information to them? The only way this stops is if everyone or almost everyone stopped accepting this, that is very unlikely because many people here only care about making money and if they have to give that information away they're going to do it.

[Skieleton]

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?

Sometimes the reward is low-value tokens and giving full data is unprofitable and dangerous. They often want photos of a document. In my country, you can not disclose such documents because you can have big troubles in this way.

[peleng]

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?

Sometimes the reward is low-value tokens and giving full data is unprofitable and dangerous. They often want photos of a document. In my country, you can not disclose such documents because you can have big troubles in this way.

It seems to me that it is not safe in almost any country. Sending copies of personal documents is absolutely unacceptable. Moreover, most of the projects themselves do not provide any official documents. Thus, I must provide my documents to some unknown people who will probably use my data for illegal purposes.

[DMiracle1]

We cannot blame them for doing this. Some ICO's were just following a complete integration with Ocular’s Anti- Money Laundering (AML) compliance platform that provides instant verification of a customer`s background (KYC). We as participants to this ICO just have to trust them that our informations will be safely handled.

[kriticko29]

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?

I don't think that it would be misused since they are only using it for records to whom they have distributed their tokens. I guess we should use government Issued ID's rather than using personal one's. Mostly on countries where cryptocurrency is not yet that popular the need logs of users in which they have sent their tokens or services.

[Baltman]

These are the requirements of legislation.
Unfortunately, you have to accept this. The rules will become stricter every year

[Bay_Harbour_Butcher]

kyc for investors and bounty hunters is now required, and for misuse of our data is often the case, but we must make sure again, which project is really honest and which only want our data alone or the project is just a scam project, it is indeed it is very difficult to ensure the project is scam or not, try to continue to pay attention to their social media, whether the project developers are still continuing to provide updates or not

[South Park]

These are the requirements of legislation.
Unfortunately, you have to accept this. The rules will become stricter every year

This way of thinking is what is worrying, no you do not have to accept this, yes the legislation is going to become stricter in the future but from now on I will refuse to invest in any single ico that asks me to give them my personal information, that means that I'll be unable to invest in many icos but I do not care after all many icos are scams anyway.

[kakawin]

These are the requirements of legislation.
Unfortunately, you have to accept this. The rules will become stricter every year

Your position is wrong. KYC is necessary for investors as a fight against money laundering, but why do projects require KYC from bounty hunters? For the entire bounty campaign usually allocated 1% of the funds from the project, in addition, bounty hunters do the work and receive their small reward.

[anitaraymonds]

I do not know why almost all of the ICO projects are asking bounty hunters to do KYC as a step to receive their reward. This is ploy they are using to refuse making payments to hunters which is bad. It is possible that some hunters may not have the proper documentations needed for the KYC and that will be the end of their effort. Bounty hunter did not invest any fund in the ICO so checking the source of his fund is not necessary.

[cryptonaut]

I think kyc is fine but only the basic if it's for bounty because i read some weeks ago that some project sell the participants data so it's very dangerous. Bounty participants also have to choose what project to give their data for. If the project is great and the amount is a lot, it's worth to do the kyc but if the amount is only a little then i think it's not worth to do the kyc.

[ptolimeus]

I do not know why almost all of the ICO projects are asking bounty hunters to do KYC as a step to receive their reward. This is ploy they are using to refuse making payments to hunters which is bad. It is possible that some hunters may not have the proper documentations needed for the KYC and that will be the end of their effort. Bounty hunter did not invest any fund in the ICO so checking the source of his fund is not necessary.

I also think that bounty hunters should not undergo KYC procedure, because they do not invest in the project. KYC is primarily a means of combating money laundering. Especially since I believe that the transfer of documents to unknown people is very dangerous.

[Betwrong]

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?

That depends on the company and most likely a decent one will never misuse your personal info, but of course not all of them, tokens issuing companies, can be called decent ones. The interesting part is that the less you will get from a bounty project the more chances your identity info will be misused. Try to participate in only good paying projects. But please don't get me wrong, I don't mean to participate in projects who promise to pay you a lot, I mean to work with those who really pay. Google the members of the team before participating in anything.

[buje micin]

I think it's safe, I'm just disappointed if after doing kyc then the payout is not in accordance with what is promised, such as smartexchange project that only pay a little bounty hunter

[BogdanGFTP]

Big projects will have very big law problems if they'll do something wrong with your ID. But small scam projects just don't care about it

[ferrybitcoin.1996]

ICO project still have issues with their Security, i dont want give my personal data to them
Just get little of their Coin, my life is in threat.
You never know that your data will used faultly for Deep Web, or like Facebook and C.A. Scandal.

[Griga29]

I choose to ignore bounty that require KYC verification because I don't agree that its necessary at the level KYC/AML is intended for. (Higher value contributions between two parties having a buyer and a seller - then yes) but with an bounty, coins/tokens only go one way. And yes peeps - ID theft and the sale of emails are things that actually happen.

[Leona Lewis]

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?

They do not guarantee that you personal data will be safe, so  I just try to avoid such projects, if possible.