KYC as a Scam

[hrunya102]

I have already said this today, if the ICO introduces KYC at the very end and they have no good reasons for this, then it is at least done to not pay for bounty hunters.

[monkeyking03]

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.

We all know that some of those projects that needs KYC are gonna be scam but also some are not. Nothing changes the only thing about that is the addition of KYC.

For ICO they can apply KYC but for bounty hunters i think there's no need to do that because bounty hunters not buying there tokens/coins only the ICO participants.

[trash321]

The procedure, which today is called KYC, is a big sell-off, because today it looks more like the usual luring of documents that people are willing to sell just like that, because people today are trying to make money by any means. It seems to me that the documents are clearly not safe.

[maculeth]

with the difficulty of the Kyc verification process as I have experienced and also the other bounty hunters who feel the same with me, fix that Kyc is a scam. if indeed the goal is to find out personal identity, the process of downloading the data should be easy and not difficult.

[debby070]

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 think KYC is required to verify the user's identity in order to ensure that the user is not a bot or Artificial Intelligent being. Also, KYC will provide fairness to the bounty campaign in order to limit the account of each participant, allowing only one account to participate.

[izanagi narukami]

Well , as we can see there are a lot of scam attempt not from developer site but also on bounty hunter side as they want distribute their coin accurately so it's reasonable if they require KYC as their distribution process.
So if you already believe on the project, giving KYC isn't big deal except if the project have the high risk of scam so I'm usually follow local project rather foreign project !

[bakermaker123]

if the project require an KYC they must announce it from the beginning not in distribution time.

But you cannot deny the fact that there are rules like they can change their decision anytime so we can't break that rule. It is better that before you join any bounty, assume that they have KYC  so you will not face any problem.

[cryptosmoker]

I advice to be far away from those campaign requiring kyc documents, maybe if 100% sure that project is well organized by known people in each country. But if just no good real background don't be careless giving your private information

Yeah, Actually the purpose of KYC itself is very good I think. But sometimes, it is used by many people to get the private data of the person. Just be very careful in giving any personal information about us.

[styca]

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 think this is more just poor planning than a scam, or at least poor awareness of changing legislative enviroment - but either way it raises concerns about the professionalism of the team and long-term viability of the project.
There are definitely some outright scams out there though which are trying to get personal information for illicit purposes - so it's always good to be sceptical and cautious.

[cahkalem]

KYC has a positive and negative impact, with KYC going to be more secure, but in the absence of KYC it is a little insecure. actually I myself really disagree with the existence of KYC because it will make participants complicated, and for dev or bounty manager it will add to your work

KYC is not good in crypto world,, and same with you i don't agree with that
why ? because as i know the main principle of crypto is about privacy,, and with the existence of KYC there is no privacy anymore
just my opinion

[DeKingCrypto]

Truly speaking I really believe some projects have started scamming people with KYC, the reason is that KYC some how makes projects looks genuine even when they are not, giving scammers the space to scam investors.

[shinchan123]

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 think you are right, KYC procedure should be announced as early as the bounty starts so that bounty hunters are aware about it. Not all bounty hunters are willing to go through KYC procedure. I know that KYC is sometimes done to abide to some law or regulations, however, it should be announced early.

[cryptotycoon33]

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.

Yes, the bounty managers should be able to inform the bounty hunters about the KYC process if any before the distribution period so as not to deprive them of their payment, however i don't totally support the idea of KYC in a decentralized world of crypto.

[KarinaMix]

I also believe that the passage of this procedure should be warned in advance, not at the end of the company, it worries me.

[aligator2017]

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.

They may, not must - and they tell about it in the bounty thread. Also they tells that they can change any point of bounty program. That's why rewards are being decreased sometimes and participants receives just a little after months of supporting the project.
This is blackguardly, I agree. I know that we should do something about it, but I don't know what

[hsyncl]

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.

Kyc is actually an application to be done but many projects have exaggerated this kyc business. from bank account numbers to house bills. I find them unnecessary.

[Kong Hey Pakboy]

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 think it is a good idea that they should tell us if there will be a kyc required not before or while the distribution of tokens because we cannot say if they are trying to trick us just to use our information or something else, so before the project start they should announce it already for us to believe.

[AztecGoldHero]

you shouldnt send all your ınformatıons to everybody or every ıco or every aırdrop, lots of them just collectıng your ınformatıons and sellıng that ınfos, they dont have any project, theır only project ıs to steal your ınformatıons and sell them to marketıng campangs

[shadowduck]

you shouldnt send all your ınformatıons to everybody or every ıco or every aırdrop, lots of them just collectıng your ınformatıons and sellıng that ınfos, they dont have any project, theır only project ıs to steal your ınformatıons and sell them to marketıng campangs

In my first steps in crypto, I often made such a mistake and sent my doc to participate in the airdrop. Now  I've become an expert and i understood what you are talking about. Your data must be protected

[GmBoom]

Kyc is good and sometimes it is needed on a project. But it is different that when a bounty campaign requires after the campaign to submit KYC. It should be posted on the first place before the bounty starts. And if that really happens, then nothings can be done. Next time be more attentive on it, ask KYC if it is required in the first place before joining the bounty campaign.