Be aware of KYC

[Mhedz]

Most ico now required KYC before you can claim your token and i only see two  option inregards with this issue. Advantage of having kyc especially for bounty hunters is that noone can claim your entry ,noone can use your identity. Disadvantage is that about your privacy,well,let's just hope that every project who ask for kyc will keep our identity private and they will not use our id's on bad things.

[Rammygold]

Am really impressed with the post, I have been finding post like this for a while, sincerely speaking you are on point, moreover most times you have to do the KYC two to three times before it will be accepted

[olubams]

KYC is a procedure that many ICOs implement. It is normal due to the uncertainty in regulations and the multi-jurisdictional scope of most ICOs. However, as investors, we have a serious problem with this, because everytime we want to invest, we have to upload yet another copy of our ID.

If I get scammed and lost my ETH or NEO... well, I can live with that. But if I am scammed and my identity is stolen, the damage can be extreme. Paypal accounts, credit cards, bills, services... the economic disaster can be huge.

What is the solution to this? I have read a bit about projects like CIVIC or The Key, but it seems that ICOs are reluctant to use these. WHY? As investors, we deserve to be treated with maximum care.

You have raised a valid point when it comes with KYCs. Its something that should bother anyone who values his identity because the extent that anomalies can be done due to identity theft cannot be under estimated to the extent of being arrested for fraudulent activities. But at the same time we cannot because of that deny us from reaping the return of good investment. We only need to weigh before trusting them with any of our data.

[rysheeer]

Yep, that's why before passing your KYC try to check their rules & agreements. they won't just give your identity or sell it to others for sure since they are committed to their customers and participants, always check if it's a legit ICO before submitting. ICO's managed by amazix is the only campaigns I trust.

[thoerz18]

well, at this very moment ico have to do KYC verification, i'm a bit hesitant with that even though that's an uncertain decision. especially if we do not fill the KYC form then we can not participate in investing.

[platinov_and]

KYC is a procedure that many ICOs implement. It is normal due to the uncertainty in regulations and the multi-jurisdictional scope of most ICOs. However, as investors, we have a serious problem with this, because everytime we want to invest, we have to upload yet another copy of our ID.

If I get scammed and lost my ETH or NEO... well, I can live with that. But if I am scammed and my identity is stolen, the damage can be extreme. Paypal accounts, credit cards, bills, services... the economic disaster can be huge.

What is the solution to this? I have read a bit about projects like CIVIC or The Key, but it seems that ICOs are reluctant to use these. WHY? As investors, we deserve to be treated with maximum care.

There are really a lot of fraudulent projects that people demand for KYC. And this is very bad, because criminals can take possession of personal data. I think we need to carefully analyze the project before sending KYC!!!

[Olatunjex]

KYC is a procedure that many ICOs implement. It is normal due to the uncertainty in regulations and the multi-jurisdictional scope of most ICOs. However, as investors, we have a serious problem with this, because everytime we want to invest, we have to upload yet another copy of our ID.

If I get scammed and lost my ETH or NEO... well, I can live with that. But if I am scammed and my identity is stolen, the damage can be extreme. Paypal accounts, credit cards, bills, services... the economic disaster can be huge.

What is the solution to this? I have read a bit about projects like CIVIC or The Key, but it seems that ICOs are reluctant to use these. WHY? As investors, we deserve to be treated with maximum care.

You are absolutely right, money lost can be regained but identity it is a very sensitive thing if it is stolen might be difficult to regain. To some extent ico that request for it isn't there fault due to regulation that might set in by government sooner or later, they are just being careful.

You said you read about civic and the key they can use but they are reluctant they may not trust those platform at this point in time, the solution is to stay away if you aren't confrontation with giving out your identity.

[saycryptohello]

And what we should do? Nobody can give a guarantee that even a reliable ICO project can eventually use your data in fraudulent schemes

[Yaunfitda]

I mean even before the advent of this crypto currency, everyone should really protect our data and this has been a issues ever since Internet came along. Everyone needs to be careful, as it might go to the wrong hands and we all know what's gonna happen. It can end up in dark web for all we know and once your data is compromise, one day you will be surprised to see that you have taken advantage of. So yes, we need to be careful about this KYC procedure, especially bounties are now requiring it.

[dpoisoner]

Maybe you're right. Being an investor, I want to be anonymous. KYC does not give anonymity. I bypass such ICO

[Michail.]

You are right. although we need to provide KYC for lots of things, that is our identity and the identity theft is a most dangerous thing that can happen. I know a website that we need to register there and pass our KYC only once. After that we can provide our account name of that account to ICO and bounty and no need to provide passport or other details for each and everyone. But I don't know whether all the ICOs and bounties accept that.

Very interesting. And what is this site? can you give a link?
And I also agree there are serious risks with the theft of personal data. But alas, if you plan to invest - then you need to put up with it

Here is the link https://icosid.com/ to the site where I registered KYC, as I understood after registration here, for some other projects KYC will automatically be counted.

[BlockpassIDN]

Giving away personal information is a problem - but it's exactly the problem Blockpass is solving! We're developing a truly self-sovereign Identity Verification network and recently partnered with Edinburgh Napier University to work on things like Zero Knowledge Proofs which would give a person complete privacy whilst satisfying KYC requirements.

https://blockpass.org/