What does KYC gives you ?

[take_off]

KYC can help in bounty campaigns - it significantly reduces the number of participants with multi-accounts. This makes it possible to earn much more for honest bounty hunters.

Given the current situation, bounty is no longer worth the bounty hunter. The money they earn is much less than what they do. So with bounty requests for KYC, I find most of them do not have many participants

[Autumn.MediaGrp]

Well KYC helps a lot , but personally i dont like doing kyc even tho the project is good i just dont like seeing one day all of my personal data being sold in the black market not worth the trade to be honest

[Btcmarmipp2]

Projects nowadays need a KYC just to protect the investor and to the bounty hunters so that it can eliminate the multiple account and scammers. For me it is the right of the project or company to ask personal data from the people who join and invest.

[thinkright]

They are mostly required to prevent any form of fraudulent activities. However, it is unfortunate some bad guys will collect your details and other documents for illegal purposes. Be on the look out.

[heritage35]

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

I think you are not comfortable with doing KYC for bounty or airdrop. Personally, i do not do it for airdrop, because i feel even if it is genuine, they only pay stipend. Then for bounty, i must have first confirmed if it is genuine or not before doing the KYC.

[Agutin]

there's nothing wrong with me. many botanists are eliminated in this way. yes and with your documents will not do anything

[samycoin]

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

I think it's ok to do a KYC in bounty and airdrops because the team of the project don't want that their project will not abuse of some scammer or frauders. Just make sure that you find legit project so it your identity in kyc is safe.

[dongosquad]

If in airdrop or bounty you need to pass kyc it is a very bad decision if you agree to go through this procedure.kyc is created for investors to find out whether the money invested in the project is fraudulent or stolen.All participants in the bounty are not in fact fraudsters. Therefore, there is no need to go through this procedure.Anyone who asks you to provide your documents is likely to use them not by purpose.So before you do something you need to think.

That's right, we must be selective and alert about our personal information. We have to make sure that the project or team that holds airdrop or bounty is trusted, for example, airdrop which was held by XLM and blockchain some time ago, I don't think that is a problem. The reciprocity to us is our verified account. The rest don't use primary data such as personal IDs and passports for KYC, it's better to use driver license, that's what I usually do.

[saycryptohello]

here it is worth being attentive, there are very doubtful projects that collect personal data and it is not known how to use

[EXtremeAEX]

In KYC laid great sense. This process of customer verification and risk assessment associated with them. Ideally, this should help both customers and institutions or platforms. But in fact, the client data storage system doesn't work well. And projects that require the passage of KYC are sometimes unfair. For these reasons, personal customer data may be compromised. So passing a KYC, you need to be prepared that your data can be used for the unfair needs of those who took them or stole them.

[sergoia65]

The risks may be that your data may be sold on the shadow forums and the data will go to attackers who do not know what they may do! Therefore, the KYC procedure must be approached more thoroughly.

[X-Infinity]

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

By knowing who their customers are, companies can help prevent crimes such as money laundering, bribery and corruption, fraud, identity theft and terrorism. KYC is designed to filter out those individuals with no real interest in the ICO and only care about laundering their money so that it is hard to trace its true origins. Due to technological advancements recently, the KYC process can take less than 1 hour to verify a person’s identity. We are all part of the crypto community, so 1 hour should not deter us from wanting to make the crypto and ICO space a safe place for all. Despite KYC being a very useful process as explained above, it can can cause more harm than good especially to customers who give out their information. It all depends on the intentions of the company. You can read more about it here https://medium.com/@XIF_Official/the-importance-of-kyc-in-the-crypto-world-a40ff02b8d57.

[Otsu]

I really don't feel comfortable in doing KYC procedure because it can exposed our real identity and can lead to troubles especially if we have bank accounts. We are proned for hackers and possibly our identities will used in some illegal activities like in scamming.

[LoadingPage]

I really don't feel comfortable in doing KYC procedure because it can exposed our real identity and can lead to troubles especially if we have bank accounts. We are proned for hackers and possibly our identities will used in some illegal activities like in scamming.

indeed there are many scams that make the situation uncomfortable so that many people do not believe and fear deception. indeed every step must be more careful to avoid everything that is not desirable but sometimes we have things that are unknown. and as a criminal he is smart in cheating or traps. do we have to do it, and maybe many people have benefited a lot.

[Soundy]

KYC is not giving me anything, just that I don't have any option than to do it. There is no transparency in this industry and some of this ICO do sell our data in the dark web for illicit activities. We are stuck in between and this KYC of a thing is against the principle of anonymousity and decentralization which is the pillar of blockchain technology and Cryptocurrency.

[terible.hunter]

KYC is a procedure for verifying your customers. For you, it will not be useful, on the contrary, you risk, sending your documents is not clear where.

Let's be honest, you don’t really understand exactly where you are sending your documents, but according to the law, they simply cannot do anything with your copy, because it’s just a copy and your presence is simply not there.

[Nwankwobtt]

Kyc entails releasing your personal information to developers to participate in their projects. It is a statutory requirement but them, some are just scam. So be careful to not do kyc with people that will sell your information to fruadsters

[Perfect35]

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

KYC is mandatory for some projects, but not all. Although, i feel every project should call for kyc, but the problem is that they are not all genuine. Some of them are real scam and i cannot advise anyone to give out his personal details to a scam team in the name of kyc. Meanwhile, i have seen several of them and that is why it us always important to know those you are giving your details to.

[danggoron]

KYC is mandatory for some projects, but not all. Although, i feel every project should call for kyc, but the problem is that they are not all genuine. Some of them are real scam and i cannot advise anyone to give out his personal details to a scam team in the name of kyc. Meanwhile, i have seen several of them and that is why it us always important to know those you are giving your details to.

Well, therefore I am very selective in choosing projects. I will only do KYc if the progress of the project is good and reliable. I also only use secondary data for Kyc, for example, drivers, I would avoid that if I had to do Kyc using a personal ID or passport. In order to create mutual trust, it seems that there must be binding regulations regarding this, for example, a written agreement that the data provided by users will be stored safely and not misused.

[Chacha1000]

Kyc simply means know your customer and it is a way of knowing more about investors in an ICO. These days even bounties and airdrops also do kyc