KYC system at some program!

[ishietan]

Signing up for kyc has a high chance that our personal data can be used for illegal activities. We have to be careful and onlh sign up to the bounty that you can trust.

[oscarrsm]

Now projects with a single KYC database are already functioning. There is a tendency that soon it will be necessary to send your documents to one certain reliable company.
And already all other projects that require some kind of confirmation from you can contact this storage system. This is important and useful, but only as long as it is safe.

[sircy]

quite risky if we must submit a personal data for KYC bounty. Although currently, some bounty uses the system then I avoid it. better I was looking for another bounty that has no such system. of course, this was done to anticipate the bad things going on such as the misuse of identity. certainly, it would be very unfortunate and dangerous if it comes to identify with the name we will be misused by third parties. Thus in selecting bounty should also ask whether it needs to be KYC and sturdiness.

[nikola22]

you should be careful with KYC procedure because some projects are not reliable and who knows how they will use your data. I try to avoid bounties where KYC is required.

[JamescrypTrader]

Know your customer or in short KYC is to check the authenticity of the customer. It is mainly done to control any kind of unwanted situation. But this is true that sharing KYC would be reisky from the point of sharing your all credentials with some other.

[Argoo]

The KYC check is illegal and very dangerous for the participants of the ICO generosity campaign. It is illegal because in projects ICO should only apply to investors, since its main purpose is to prevent money laundering. Therefore, the requirement to pass such an inspection against bounty hunters is an excess of their authority on the part of the ICO team.
The provision of our identification data is also dangerous, because we transfer such information to the hands of persons who in almost half the cases are themselves fraudsters and may well use our data and copies of our passports for illegal purposes. At the same time, these persons themselves do not pass any verification of their identification by the state bodies.

[Siren]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

Yups,actually thats the same reason thats why i am opposing that KYC requirements in any particular program here in cryptocurrency remember why were here is because of privacy,and no third paty that anticipating our usage of funds

But thos kyc program are making us vulnerable for any misusing imagine your personal details will be send to not only single person but with the whole company or teams,isnt it much riskier than what we are dealing in the past with only email requiring?

[Russlenat]

I'm am also against KYC because it is against my will, It will expose my identity here in crypto and maybe used my identity by cyber criminals and it is dangerous, we talk money here and we want to be anonymous at all time that is why we use crypto currency to hide our name in public, I also avoid bounty program that needs KYC, some of that program is not legit and scam, just to stole people credentials.

[deepcryptomine]

I don't trust any project enough to do KYC. I have even given up bounties that I did all work for because I didn't want to submit KYC docs. The bounty didn't mention this beforehand and only just before distribution mentioned it.

[Leyss]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

Sending our identification data and copies of passports to ICO teams is very risky. There is a very high probability of using our data for illegal purposes. Such cases already exist.
In addition, the requirement to pass a KYC test from participants in the ICO generosity campaign is illegal, since we are not investors in these ICO projects. In many countries, laws on the protection of personal data of citizens, where a limited list of persons and bodies that have the right to require confidential information, is listed. As a rule, these are only government agencies. No ICO team has yet indicated on what grounds they decided to violate our rights. Why should we send our data to people who themselves are often scammers themselves? To date, this is a very serious problem.

[AgentZero23]

I always take caution about participating in a bounty with KYC. Because I'm afraid that my personal information got leaked and obtained by cyber criminals and used for identity fraud. But, I always used my national id here as a requirement for KYC. Because my passport are way sensitive.

[Dergansion]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

There is two reason, why i never fill the KYC. First because I think they can abuse my personal information. And second because I'm too lazy too fill it  .

I am too layman in that problem .. maybe for the sake of getting the coin from the results I worked on bounty program I joined to send kyc without thinking more detail about the risk of data delivery. I also do not understand the function of our data later in the misuse of the internet world

[mullzerwar]

The function of the KYC is actually to Know Your Customers.
The ICO commonly uses KYC based on the regulation that they make. Commonly it is to know that their customers or investors are not the scammers or spammers. It is also to ensure that the societies from the illegal participation will not participate in buying the ICO. This is why the KYC is needed to verify the process. But for bounty and airdrop hunters, I think it no needs.

[Umkar]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

If you are a member of the ICO generosity campaign, I do not recommend sending your identification data and passport copies to ICO teams at their request. It is very dangerous. It must always be remembered that while almost half of the ICO teams are scammers who can also sell your identification data. There are already many such cases. Nobody knows how your data can be used by anyone. Sometimes you can come to the police after a search and then at the police station you will be justified as to your name the property is registered after committing murders and other crimes or why you do not pay credits taken for your name for a long time and much more. In addition, ICO teams do not have the right to demand a KYC review from the participants of the ICO generosity campaign, since we are not investors.

[AlisaWhishie]

There is two reason, why i never fill the KYC. First because I think they can abuse my personal information. And second because I'm too lazy too fill it  .

I also thought so, but now I see that all the most hyped projects require KYC to get whitelisted (and there are actually thousands of people sending their documents and hoping to take part in tokensale), let's take Fantom or Shivom as examples. Probably some of them send fake documents, but I'd better send my real ones then do it as it's illegal (and I'm also to lazy to photoshop them, haha).

[jhongzjhong]

There is two reason, why i never fill the KYC. First because I think they can abuse my personal information. And second because I'm too lazy too fill it  .

I also thought so, but now I see that all the most hyped projects require KYC to get whitelisted (and there are actually thousands of people sending their documents and hoping to take part in tokensale), let's take Fantom or Shivom as examples. Probably some of them send fake documents, but I'd better send my real ones then do it as it's illegal (and I'm also to lazy to photoshop them, haha).

Lately, I submitted my personal data on bounty program that I joined. I filled it up but some of my answers were not relevant to my real identity. Yes it is against in my will but if I know that from the start it will have a KYC I will not surely join but I have no choice to follow them in order to claim my rewards to them. A risk is everywhere, I think showing your ID is no problem for me, but don't show the whole you are.

[Zeke_23]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

there will be no problem if you pass your kyc on some legit ico's, because if you send it to the wrong person, your identity might be use in some illegal things. so you must be very careful before sending one.

[ReiMomo]

There is a need of KYC now a days by the new projects and I believe we need to share our data for KYC if it really needs and if it is trust worthy. I can see form the new ICO's asking for KYC to trade in their coins and some projects asking for KYC to receive bounty rewards as well. They say that it is mandatory as per the law of their country.

[jpoker272727]

There is a need of KYC now a days by the new projects and I believe we need to share our data for KYC if it really needs and if it is trust worthy. I can see form the new ICO's asking for KYC to trade in their coins and some projects asking for KYC to receive bounty rewards as well. They say that it is mandatory as per the law of their country.

For large amounts I think it is necessary the KYC but for bounties and for small amounts I don't think is a good idea for KYC verification as there will be thousands of people who will need to apply for this kind of verification which doesn't make sense at all even though the companies that run these ICOs are forced by the government and regulators to ask for each customer for the KYC.
If every ICO will start requiring KYC verification then we will see a slightly decrease of interest of people into ICOs and many manipulation of these documents will be made.

[TastyChillySauce00]

There is a need of KYC now a days by the new projects and I believe we need to share our data for KYC if it really needs and if it is trust worthy. I can see form the new ICO's asking for KYC to trade in their coins and some projects asking for KYC to receive bounty rewards as well. They say that it is mandatory as per the law of their country.

For large amounts I think it is necessary the KYC but for bounties and for small amounts I don't think is a good idea for KYC verification as there will be thousands of people who will need to apply for this kind of verification which doesn't make sense at all even though the companies that run these ICOs are forced by the government and regulators to ask for each customer for the KYC.
If every ICO will start requiring KYC verification then we will see a slightly decrease of interest of people into ICOs and many manipulation of these documents will be made.

Well that's all what they can do if they want to avoid of being seized their project by the government there, however the overwhelming risk that's involved into putting my important document into stranger's hand is what make me really doubtful when it comes to KYC verification.
Just as you can see, handful of project turns out to be a scam and they demands KYC aswell, if they are already planning this all along since the beginning I can sure that they are not going to miss the opportunity of using the KYC data for wrong thing. We really need a platform that could verifiy our KYC at once and can be used into many ICO, and not handing over our data into everyone else, that's the problem I think.