KYC as a Scam

[Uju4real]

KYC has been one thing I hated most about been a bounty hunter, I can't just submit my personal information for just a few token and most projects have seen that bounty hunters doesn't like KYC so they use it as a way to scare them away from receiving their token after they have worked for them

[novusordo]

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 totally agree with your submissions. Every information about a project bounty should be communicated on time to allow users make an informed decision. I was once in such situation, I had an expired ID and couldn't apply for the kyc. Thankfully, the bounty manager understood my condition and awarded stakes

[Bloodseekers]

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.

Sometimes the project do not required for kyc, but you know the future no one know it, maybe the team change their mind. I think this simpel, follow the rule fill the kyc form and done. And i also already fill many kyc, sometimes not required in the beginning but when champaing end team ask for kyc so i do it, If you think not worth don't fill it. Simple.

[Melo20]

Kyc is a scam if the project team uses the idea to restrict hunters of there reward.  Many countries don't issue Id to all citizens .. It's only legit to curb hunters also from robbing the team with multiple acc. All depends

If kyc is to be implemented,  it should be announced before investors or hunters involve in the project.

[Hamphser]

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 totally agree with your submissions. Every information about a project bounty should be communicated on time to allow users make an informed decision. I was once in such situation, I had an expired ID and couldn't apply for the kyc. Thankfully, the bounty manager understood my condition and awarded stakes

Lucky for you that the manager do understand your condition yet there are really some scenarios which do leave you no choice yet you wont able to get your tokens no matter
what since you would need to submit necessary documents that being asked.I hate KYC actually but as a bounty hunter you wont really have any choice but to comply on whats being asked
in order to recieve your tokens.

[newdevices]

this is indeed complained by many bounty hunters, if a project uses KYC then it must notify in the beginning of the bounty,
because not all bounty hunters agree with KYC
the manager and team of a project must be professional, don't suddenly require KYC at the end of the bounty, bounty hunters
have worked hard to promote the project, don't make their work futile

[investtra]

Yes, this is very important and KYC should be announced at the start of the campaign. So that every bounty hunter has prepared their personal data. But I also saw that KYC was done at the end of the campaign, but still did not get the token. Not all projects are good and we must be careful when analyzing ICO projects.

[Stargazer]

No, KYC is not a scam. The crypto scenario has been changed for many days. Now everyone is very aware of the scammers and abusers! Some bounty hunter doesn't like KYC procedure because it is a boring thing to do! But it should be taken in well manner and project should be announced the KYC thing at the beginning of the campaign. Recently I have seen the Datablockchain  Equity KYC submission, only 400 People submitted KYC and thousands of people left the project because of KYC! But we should be on KYC support zone.

[torrantz]

Everyone decides for himself, he wants to participate in the bounty companies, which require to pass KYC. I think that there are no such managers who speak about passing KYC at the end.

Recently, I took part in the bounty, in which the developers made changes, and all the hunters should follow the KYC procedure in the company’s personal account using the wallet on the platform of this project. However, half of the weekly payments have already been made on the ERC-20.

Well, this is a common feature, I think it is usually done to remove the scammers in the bounty , but of course you need to look at what the project enters, your documents may just be with other people

In fact, there is nothing wrong with providing personal data if the project is not fraudulent. But if you look at the statistics, or analyze all those projects in which you participated in Bounty companies, then a very small percentage of those projects that require KYC are promising and their reward has real value.

Yes, indeed the Bounty campaign that does the Kyc is good and they are serious about real payments and tokens, there will be a price value, compared to those who do not, Kyc often has no price.

It's not about real payment but it's about how we can make sure to secure our identity because there was a lot of fraudulent ico. the real price will be determined after the token already listed on the exchange site and that's it.

[Cryptrx]

It's breach of terms for a project that didn't state kyc requirement at the beginning of their promotion to turn around and ask people for kyc before they are eligible for their rewards.

[imstillthebest]

No, KYC is not a scam. The crypto scenario has been changed for many days. Now everyone is very aware of the scammers and abusers! Some bounty hunter doesn't like KYC procedure because it is a boring thing to do! But it should be taken in well manner and project should be announced the KYC thing at the beginning of the campaign. Recently I have seen the Datablockchain  Equity KYC submission, only 400 People submitted KYC and thousands of people left the project because of KYC! But we should be on KYC support zone.

Yeah boi kyc itself is not a scam because kyc is only a term . kyc is short for " know your cosutmer "  only companies such as ico can use it and they are the ones that can potentially scam you if ever they are fake and they are intented to scam people in the form of kyc  .  bounty hunters avoid kyc , not because of boring but because its risky   .  some dont join because kyc requires advanced i.d were most of us dont have

[Flickkk]

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.

Nope sir. KYC helps the ICO from distributing your share. Because they need a confirmation if your country accepts cryptocurrency.
And it really help you if you dont do the KYC and you already invested but your country banned crypto . It helps you to refund your investment so think positive about KYC.

[Bitfling]

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 am agree that if the project require KYC, it should be announce at the beginning. But i think if we dont have a problem providing our identity, i think giving KYC at distribution time is not a problem. KYC become standart right now and i think its good to avoid from scam ICOs

[Burogh]

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.

Nope sir. KYC helps the ICO from distributing your share. Because they need a confirmation if your country accepts cryptocurrency.
And it really help you if you dont do the KYC and you already invested but your country banned crypto . It helps you to refund your investment so think positive about KYC.

KYC is good to prevent scam. After many scam ICOs in 2018, now many ICOs need KYC to invest and i think its good for increase investor confident. I am believe developers team just want to comply with government regulation

[valek.bruno]

Absolutely correct statement and I wholeheartedly support this statement, because I believe that cryptocurrency requires anonymity on the network, and the KYC process, like many others, violates this requirement.

[melomanskiy]

I believe that in most cases, projects that request KYC after holding a bounty company without warning about this earlier simply simply wish to give out less coins, since not everyone will agree to undergo this procedure. Many do not even know that they had to go through it.

[igor.vanyutin.83]

You are right and I think that a lot of ICOs are using this trick to distribute smaller rewards. They are announcing a KYC process at the end of a bounty campaign, because they know for sure that not every hunter is able to pass the KYC.

[ChiNgadOr]

As many said, this is a common practice done in 2 ways:
a) by many projects to save some tokens being distributed (as many people dont like or just is nto able to pass KYC)
b) by many scammers to get data to be sold to private companies
both behaviours just disgusting

[kingpin4321]

If you have your know your customer documents ready you should not really be boarded about the timing of when a project chooses to run there know your customer

[Baimovic]

Everything depends on admin types. KYC is good process to safe token value but after successfully complete ICOs, I don't support KYC announcement.

KYC is made for the good of this forum so we must support that step but there is no denying that KYC still has deficiencies and is generally used by fraudsters.
but even though it is used by fraudsters that doesn't mean KYC is bad, it's just a bad project.