What does KYC gives you ?

[drumamat]

KYC it's normal. It helps to projects organize all their actions at the legislative level and ultimately pay you tokens

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[BluRPie]

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

First of all you should clear understand why KYC is required and how is you data will used. You should know who is perform KYC procedures and does this company is legit for work with personal data.

[barhavsky]

I actually disagree with regulations that require bounty participants and airdrops to do KYC because the real purpose of kyc is to find out the identity of investors at the time of the ICO so as to reduce the level of money laundering.
Then the bounty hunter is required to do kyc even though what is obtained from the project alone does not even know and by doing kyc the possibility of personal data is very large.

[DEVIDIRUS]

KYC is ok, yeah, nothing bad if ICO doesn't want to scam you. They just try to know better those to whom they pay. But there is always risk when you give information about yourself to somebody you don't know

[asder250]

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

Know your customer is something what is needed by government of the country where company works. It doesnt give you anything, also company shouldnt get anything from it.
But some scam ICOs require KYC and they sell these informations on the black market.

[amanarora_1]

Well honestly, nothing! Whenever i do any KYC for bounty or ICO, it feels me just risk only. But sometime i think, if KYC begins then there should be some main reason for starting. I think KYC should only available in ICO, not in bounties or airdrops. I never like to do KYC for bounty and airdrop, because if they are giving free tokens then why they need KYC.

[Bomber007]

I have been doing KYCs for over a year now and up till this moment, I have never had any problems with it, you have to be careful about the legitimacy of a project before you trust them with your details though.

[Bomber007]

KYC isn't really about you that does it, it is more for the project that requires it, many of them conduct KYC because it was necessary because of regulations, some do it in a bid to restrict cheating and level the playing ground for everyone.

[Snaic]

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 gives nothing to bounty hunters. He only selects our confidential data from us, and in the future it may cause problems if our data copies of the documents fall into the hands of criminals. In addition, the KYC check is generally absurd, useless and illegal against bounty hunters. We are not investors and therefore should not be held in relation to us. The ICO team uses KYC checks to fraudulently not pay out earned tokens to bounty hunters.

[thinkright]

KYC is an authentication mechanism which gives an investor the authorization to contribute during ICOs. This is done to prevent fraudlent activities. Some of the down fall of it is you willingly giving out your private info to someone you trust. If the party is unethical, your data might be monitized without your concern which has many consequences.

[yslyv]

You have to share your private informations like passport with unknown people to pass kycs. It is very dangerous for us because those informations can be leaked easily.

[Miklight88]

Though I don't have problem with kyc but it always give me concern when bounty or ico ask for kyc when their is no regulating body in cryptocurrency yet, but on exchange is still more save than ici that you don't know if it's real or will really secure your documents, so the kyc stuff is at your discretion.

[george_hured]

KYC today is a procedure that does not promise anything, you just give away your data, which is actually your private property, this is very personal data, but you share it, I do not understand and do not support it.

[Crypdon]

If they don't meet the softcap they will probably sell your ID in the dark markets, something that is 100% verified as being legit is worth money. They can take out loans in your name, buy illegal items, not worth the risk if you ask me

[Amberum]

If it is a legal obligation and it is the laws of many countries - how we can check that this companies do not will use our data in illegal way?

[badman999]

honestly, I am not sure, but with the regulation, it requires positive and negative side of KYC. the positive is to avoid people participating with multiple accounts and further increasing security, the negative is sometimes not commensurate with the rewards of tokens that are not worth much then many think our identity is used for cyber crime. we better be careful because there have been widespread fraud cases.

[Kiefner]

I still have a bad attitude to ICO that require hunters to pass the KYC, but I slowly put up with it and now I also take part in bounty companies that require to pass KYC, as often come across good projects with KYC.

[serejandmyself]

if investors have to pass the KYC, then let the team to pass kyc also, coz many teams can be just a scam. What do you think about?

[Sanitough]

if investors have to pass the KYC, then let the team to pass kyc also, coz many teams can be just a scam. What do you think about?

Good suggestion, it's fair, the thing is they are the one who will conduct a KYC so we are controlled by them.
We just have to choose a team that has a name in the industry so we can trust them, if the government will required the KYC, maybe there will be a certain agency that will handle this and this would be more safer.

[kriptosan797]

I have an absolutely negative attitude to the KYC procedure in bounty, for  those who participate in the ICO it is important to confirm their identity and thus obtain insurance. KYC is a complete lack of privacy which is the Foundation of the crypto world.Second, who will protect my KYC documents data?.