KYC as a Scam

[Anatoly339102]

I don't understand why many people are so afraid of KYC. Kyc is designed to protect against the scam, which has recently become very much. Why are so many people afraid of that?

[jpaul]

They can use them as a scam and one thing that people do not seem to realize is that they can actually sell the details that you have submitted on the dark web. once your information gets into the hands of hackers they can actually use it to ruin your credit and take off with your money. It is better to avoid kyc on projects that you cannot trust

[baeva2]

Apparently, the reason some projects don't report passing KYC is that the project will attract fewer participants behind their heads as not everyone likes going through KYC or the project team then uses the data for their needs.

[BTCreward]

Quite rarely you can see the bounty companies that do not say immediately whether you need to pass the KYC or not. Basically it is indicated immediately, and even if it is not specified, then it is written in the conditions that it is so far that this information is not approved.

[Garrixx]

it really is a scam because your data afterwards are freely available

[NORD YGGDRASIL]

I also noticed such things when the bounty manager or the project management force the bounty hunters to pass verification only at the very end, when the bounty is already over. I consider such situations to be a direct indication of the fact that the project team it's a scamers.

[rodskee]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

I don't know what kind of strategy requiring KYC from the bounty hunters
Project announcing there's no KYC  Requirements for  the bounty particicpant but and the end they will be asking to join kyc to got the token stakes this clearly a scamm

[anjho.ace]

It is written mostly in the thread that the manager and the team has the right of changing the rules.
If the team required the participants in doing KYC while investor has dont it, then there is no problem in doing it.
Why would invester do it and then the bounty can't? The team doesn't want to be in danger and dont want any person in restricted country get the coins.

[24Kt]

That's the bad thing in bounty programs, they have the right to change the rules anytime. Maybe, just look for projects which do not require KYC or anything sort of that. Or better yet, look for known campaign managers that are really doing their jobs.

[rabinot]

I do not see anything wrong with this check, as I am sure that it is necessary for as few fraudsters as possible to participate in projects

[Cashi]

As a rule, such a procedure is attempted to reduce payments related to bounty companies!

Kyc for bounty hunters is not a fraud only if it is announced in advance. If after the campaign, it is fraud and extortion.

ElenaN is right, KYC is a method to cheat bounty hunters in large scale. Even if it's announced before the campaign all KYC documents can be lost if it's a scam. It's always dangerous to submit personal data and I recommend to boycott every bounty which requires KYC.

[kisfoxs]

During this time when I was looking for an ICO project, there were indeed many projects that had used KYC. This KYC is used for bounty hunters to take their gifts. But that was a problem because it was announced when the project was finished. So that the bounty hunters have not prepared their personal data. But I see now projects that use KYC, they have been announced from the start. So you have to be more selective.

[mcTether]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

So many unfortunate bounty hunters or are skeptical about leaking their private information online have actually lost a lot of bounty tokens due to this presumed scams. The rules shouldn't be changed in the middle of the game.

[Clark05]

They did not get their stakes. That is the solution of alt account in bounty campaigns. Because I think they implemented for other reason because they want to preven that alt account to join in one bounty campaigns because once they submitted their ID it will not resubmitted  that again.

[Osayo]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

The bounty managers can go away with the tokens for all I care. I do have the feelings that 90% of such bounties are scams. A legit bounty will keep to the rules from the start.

[stabsee83]

As a rule, such a procedure is attempted to reduce payments related to bounty companies!

Kyc for bounty hunters is not a fraud only if it is announced in advance. If after the campaign, it is fraud and extortion.

I favor you that it is a fraud. You have to ask all of the projects from the beginning as in this way they may not tell you a lie and at the end they will not change their words and if they will do then it will be easy for you to start a scam accusation.

[gostop]

Agree, I think KYC will become a new tool for scammers. KYC is meaningless except for the airdrop mission, so some KYC ICO projects I will not participate, this is a low-level marketing tool. Excellent projects do not need such technical support at all.

[vigos]

I don't like to participate in projects that require KYC, because the project didn't reward me after I provided privacy! I think this kind of activity is very unfair!

[wakeham8]

I do not think that KYC is a scam. KYC is a great feature to detect scammers, but your should be very picky with the project where you pass the KYC, because if it is going to tern scam, you will lose your data.

[Mkmanik]

personally, I don't like to join those campaign that asked for KYC. I just avoid those project and if any project asked me about KYC I just skip those project. I think you did any bounty that asked KYC after the end of the bounty. so why you are posting ''KYC as a scam''. KYC is not a scam, KYC=Know your customer/know your client. For more details about the KYC you can check : https://en.wikipedia.org/wiki/Know_your_customer