Know Your Customer A.K.A (KYC)

[yazher]

Good Day Mate,

i have a question for those who really know what is it really mean, for some bounty campaign need to go for KYC to get your token.
what types of document should i send to them ? i'm afraid that if the bounty campaign that i'm currently joining right now will need a kyc to get the token.
i want to know this early if what document usually they asked.

and what if your name in facebook, twitter , telegram are not the same on your Documents?

i didn't find a topic like this, so i create one.
excuse me for my bad english, i still learning though.

Thanks in advance.

[1715163901]

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[mk4]

It usually depends on the campaign on what kind of information they require. Sometimes it's drivers license, government IDs, passport, some paperwork, a mixture of multiple of these requirements, etc etc. You can ask the bounty manager directly on what KYC they require.

[RodeoX]

Depends on the country, but in the U.S. a business is required to know their customers and are responsible for anti money laundering efforts. What they request is up to them but will certainly require a state issued photo ID, among other things. If you turn out to be a money launderer it is on them as well. So a legitimate business is not going to trade currency with anyone they don't know.

There are sites that do not require AML/KYC. However you may be foolish to trade with them since they are engaged in a criminal conspiracy. If they are not going to follow the law then why not just scam you and take your money? What are you going to do about it? Call the police and explain that they guys laundering your money stole your bitcoin?
 

[MintDice]

Many times you'll get an email from the ICO asking you to complete a KYC form with a due date for completion. In order to receive your rewards, you'll have to fill it out. Sometimes, however, you'll have to satisfy KYC requirements before even participating, as someone said above, it really depends on the campaign. As mjglqw said, usually its a state ID, passport or a mixture of paperwork. It's up to you if you want to submit these documents in the end. If you get a bad feeling about the process and the particular campaign, then don't go through with it, no one will force you. The market is fairly unregulated right now so these KYC practices will continue to seem a bit strange for some time until we see more consistency and more trust is garnered. Do some research on the ico and its campaign before engaging in any of these activities.

[cryptohoodz]

ICOs demand this, because of AML (anti money laundering) regulation. They need to be able to show to law enforcement agencies (if they ask for it) that they did not assist in criminal activities therefore they require some kind of ID of the people that are paid out crypto. Example: suppose some criminal wants to participate in an ICO with EHT that he bought with FIAT gained from criminal activities. By asking KYC (like a passport) it's less likely such people would be attracted. Also, suppose someone is faking KYC, the ICO can say to law enforcement agencies that they did not know this person was a criminal, therefore they are not complicit. I'm not a lawyer, but I think this is the general reason why ICOs ask for KYC.

[laserfocused]

Good Day Mate,

i have a question for those who really know what is it really mean, for some bounty campaign need to go for KYC to get your token.
what types of document should i send to them ? i'm afraid that if the bounty campaign that i'm currently joining right now will need a kyc to get the token.
i want to know this early if what document usually they asked.

and what if your name in facebook, twitter , telegram are not the same on your Documents?

i didn't find a topic like this, so i create one.
excuse me for my bad english, i still learning though.

Thanks in advance.

It varies.  ID, Front and back, address, location, and sometimes a utility bill proving your location. they will let you know exactly what you need though

[figmentofmyass]

Good Day Mate,

i have a question for those who really know what is it really mean, for some bounty campaign need to go for KYC to get your token.
what types of document should i send to them ? i'm afraid that if the bounty campaign that i'm currently joining right now will need a kyc to get the token.
i want to know this early if what document usually they asked.

they're talking about ID documents like passports and proof of residence like utility bill.

don't join any bounty that requires KYC. full stop. you have no way to verify that they are properly complying with securities/AML laws---some campaigns just use it as an obstacle to avoid paying you.

more importantly, why would you trust them to properly store your data? they might even steal your identity! a lot of ICOs are just scams anyway, so you should expect them to steal and resell your documents.

[Corsicoin]

Hello!
I recommand you don't join any bounty with a KYC.
If you have a fake ID (think about it it's not that impossible to do) then go on!

[without_my_moufles]

Good Day Mate,

i have a question for those who really know what is it really mean, for some bounty campaign need to go for KYC to get your token.
what types of document should i send to them ? i'm afraid that if the bounty campaign that i'm currently joining right now will need a kyc to get the token.
i want to know this early if what document usually they asked.

they're talking about ID documents like passports and proof of residence like utility bill.

don't join any bounty that requires KYC. full stop. you have no way to verify that they are properly complying with securities/AML laws---some campaigns just use it as an obstacle to avoid paying you.

more importantly, why would you trust them to properly store your data? they might even steal your identity! a lot of ICOs are just scams anyway, so you should expect them to steal and resell your documents.

True, no reason for bounty to ask for KYC.

[HabBear]

what types of document should i send to them ? i'm afraid that if the bounty campaign that i'm currently joining right now will need a kyc to get the token.

and what if your name in facebook, twitter , telegram are not the same on your Documents?

First, they don't care if your name is different between documents and your social media accounts.

The need for a company to ask for your documents is in case YOU are using their currency exchange to conduct financial transactions related to illegal activity. If the Feds come knocking on their door they can hand over your documents if your account is the one that has suspicion on it.

I wouldn't give my documents to any bounty campaign. The bounty campaigns pay you in little known or ICO tokens, right? So most of these tokens will end up worthless. Therefore you aren't getting anything real in exchange for handing over you precious identity information. And at some point, when the ICO goes bust, the only thing these developers have of value is your personal information, which they can sell to scammers.

[LTU_btc]

I wouldn't join bounty campaigns or airdrops which ask for identity verification. There are lot of scam projects and we don't know what they will do with our personal information but it's possible that they will use it for bad things. It's just not worth to sell your personal information for few bucks. Imagine, if random person on street would say: "give me copy of your passport/ID card and I will give you $5". I think that any of us would accept this offer. But I don't understand why bounty hunters are selling their personal information to random projects to get some tokens.

Hello!
I recommand you don't join any bounty with a KYC.
If you have a fake ID (think about it it's not that impossible to do) then go on!

I don't it's good solution. Using fake ID doxuments is illegal.

[varun bee]

most of the time it's drivers license, government IDs, passport, some paperwork, a mixture of multiple of these requirements, etc. You should ask the bounty manager directly on what KYC they require. most recently they have been asking only for passports and with the time bounty managers will strict the rules which is bad imo but thats how its going recently. in just few months the bounty thing has exploded and now they are asking for all sorts of documents Smh.

[drumamat]

Good Day Mate,

i have a question for those who really know what is it really mean, for some bounty campaign need to go for KYC to get your token.
what types of document should i send to them ? i'm afraid that if the bounty campaign that i'm currently joining right now will need a kyc to get the token.
i want to know this early if what document usually they asked.

and what if your name in facebook, twitter , telegram are not the same on your Documents?

i didn't find a topic like this, so i create one.
excuse me for my bad english, i still learning though.

Thanks in advance.

Usually companies require a int. passport or drivers licence, because these documents are international

[fraufreiheit]

Hello!
I recommand you don't join any bounty with a KYC.
If you have a fake ID (think about it it's not that impossible to do) then go on!

I wish all the ICOs told you about the requirement to pass KYC before you start working for them, but not when your work is done.
And sending fake documents is illegal, think about it!

[testbug]

Hello!
I recommand you don't join any bounty with a KYC.
If you have a fake ID (think about it it's not that impossible to do) then go on!

I wish all the ICOs told you about the requirement to pass KYC before you start working for them, but not when your work is done.
And sending fake documents is illegal, think about it!

I also think that you shouldn't send in fake documents as you might get big trouble in RL. Still fraufreiheit is true, they should have told you before and not after finishing work.
For ICOs or anything similiar i personally would never ever send out any documents as you, in the most case, don't know who is receiving your documents. What happens with your documents after you are verified? Are they getting instant deleted? Do the documents have to be archived so that a data leak might happen? You should always keep in mind that sending your RL documents to anybody can bring big problems.
This will not apply to exchanges as i understand that exchanges do need to know who is a costumer. This is in order to protect themselves but also the costumers.

[Sweedy]

No bounty will ask u for kyc before paying u, only if u are buying the token during ico or if u are whitelisted to purchase the token

[kingnony]

No bounty will ask u for kyc before paying u, only if u are buying the token during ico or if u are whitelisted to purchase the token

Some bounty do require KYC, Like Eventum bounty.

[Corsicoin]

No bounty will ask u for kyc before paying u, only if u are buying the token during ico or if u are whitelisted to purchase the token

Of course recent ICO claim your KYC (ID and phone number) before sending the tokens!
Last time I did was for Indahash!
It becomes harder everyday to be an anonymous hodler!

[trukramor]

I will not provide my details it is risky.

[Corsicoin]

You can keep in mind that regulation is overcoming scams.
Serious ICO are those who CEO speak in public and have a minimal working product!

Etherisc, LiveTree Adept, CEDEX, Essentia...