Do I need KYC for generosity?

[djuragan]

Since the beginning of the implementation of KYC, i'm already disagree with it.
In my opinion it against the idea of cryptocurrency that are anonymous.

[1715364934]

1715364934

[1715364934]

1715364934

[1715364934]

1715364934

[1715364934]

1715364934

[jaocoincrypto18]

This is easy. If you don't want to earn from the group because they are requiring KYC then better to leave them and find other ICO that KYC is not needed but i doubt that there is as every ICO is now KYC compliant except for the bounty. For me, there us nothing wrong with KYC as long as you and the ICOs are legit.

[Rustamm]

Since the beginning of the implementation of KYC, i'm already disagree with it.
In my opinion it against the idea of cryptocurrency that are anonymous.

This is well noticed. Therefore, we need to avoid all these KYC checks and, if possible, not to participate in those ICO projects that require KYC checks for bounty hunters. I consider conducting a KYC audit against bounty hunters in general illegal, since we are not investors in ICO projects.

[confreslamp]

I think KYC is a great process to protect the ICO investors from different cheaters that want to scam or to trick other investors or the team members. But on the other hand, it is very risky to send you private info to a project, because nobody knows what they are doing with this info.

[vi77ip]

Since the beginning of the implementation of KYC, i'm already disagree with it.
In my opinion it against the idea of cryptocurrency that are anonymous.

This is well noticed. Therefore, we need to avoid all these KYC checks and, if possible, not to participate in those ICO projects that require KYC checks for bounty hunters. I consider conducting a KYC audit against bounty hunters in general illegal, since we are not investors in ICO projects.

I try to avoid projects that require Kyc from bounty hunters. Bounty hunters are not clients of the project, so it has nothing to do with the legislation.

[Ferris419]

Since the beginning of the implementation of KYC, i'm already disagree with it.
In my opinion it against the idea of cryptocurrency that are anonymous.

Yes, but kyc is most important to indroduce yourself. KYC (know your customer) is provide that you are a legal customer. And government legality want to get People's identity to know them. KYC proved that which country's citizen you. So I think KYC is good. And one mkre things that many people used fake/multiple account for doing bounty.

[Spaffin]

I think KYC is a great process to protect the ICO investors from different cheaters that want to scam or to trick other investors or the team members. But on the other hand, it is very risky to send you private info to a project, because nobody knows what they are doing with this info.

Something I can not understand how a KYC check can protect investors from scammers or can the ICO team protect them? In my opinion, there is no correlation between the KYC verification and the protection of the rights of investors, as well as the ICO team. So far the biggest scammers here are ICO teams that cheat both investors and participants in the ICO generosity campaign.
 In our case, the KYC check is used by the ICO teams in order not to pay the tokens earned by us. How should I regard the behavior of the ICO team, when after the completion of the ICO the KYC check is announced, I indicate my confidential data, and in response I get a message that I did not pass the KYC check because I am a minor. At the same time in checking KYC, I indicated my age of forty. Isn't that a scam?

[donass1]

Recently, more and more arguments have arisen that ICO generosity campaign participants really need to be tested by KYC in order for ICO teams to provide information that their tokens are distributed to specific people. In my opinion, this generally sounds like something stupid. Who and why should the ICO team provide such data? Tokens are not much different from any other product, and stating that merchants need to know who they are selling is stupid.
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?

I have had a similar argument before with a friend. I can't possibly fathom the idea of going through a strenuous kyc in other to perform my generosity tasks. It should be left for investors of specific countries who require it under their AML laws

[coinbitrade]

KYC is a personal matter, someone hates KYC, but I have a neyutral position and if I like the ICO and inspires confidence, I will pass KYC without problems, but I do it very rarely.

[jt byte]

There are multiple causes for this ...

1. Some legit ICOs can use KYC to reduce the number of fake accounts trying to benefit their "generosity".
2. Some not-sure-if-legit-probably-no will sell the KYC info to the highest bidder.
3. Some bounty managers may use KYC to not pay for some work done.

All in all, since the ICO/bounty/airdrop is made my people you don't know and you are not sure about their intentions, it's safer to not give out your info so easy, since you may have nasty surprises later on.
Even if you'll lose a couple of easy bucks because of that.

I understand that KYC required by bounty campaigns are reducing number of participants (fake and but also real participants) and that cause that ICOs dont have to send all allocated bounty tokens.
But I do not understand why ICOs want to reduce fake accounts, I thought that they need as many investors as possible to collect enough money for their projects.

[MAXE]

I consider this check to be absolutely normal, we either agree with the conditions set by the team, or not.
When we read white paper, we do not ask to change this or that item. If you do not agree with the procedure of identification, then choose another company. But in such companies, the payments are more.

[gowobonyok]

I think no, I don't think it's fair. Why? because on several occasions, we are very difficult to verify. I am very disturbed by that, and I don't think you should be obliged too much.

[Rockkey]

I believe that your arguments are absolutely correct in the first place because the participants in the bounty program are not buyers, they provide a project promotion service and do not spend their money on the purchase of something, therefore, it is silly to require them to pass authentication.

[Kawshies]

I don't understand for a project that needs kyc as a condition to be able to participant in campaign.
cause not everybody wants to give his personal information to someone he doesn't know.
Because they were also worried that the data was misappropriated.

[babarian]

KYC is needed as material for documentation and administrative evidence of a project, and of course if the project is real, but if only fraud they only make it a cover for their lies

[VasyaPupkin]

Recently, more and more arguments have arisen that ICO generosity campaign participants really need to be tested by KYC in order for ICO teams to provide information that their tokens are distributed to specific people. In my opinion, this generally sounds like something stupid. Who and why should the ICO team provide such data? Tokens are not much different from any other product, and stating that merchants need to know who they are selling is stupid.
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?

I'm not very good at this procedure at all, because you never know who you're giving your personal data to or if it's going to be confidential. There is no guarantee .

[Philippines]

I think they are just trying to be formal and do not want to sell their tokens to same people that's why they required KYC for people who buy to them and provide a limit . Doing also KYC is use for their promotions to be fair for everyone .

[deep4u]

I believe that KYC requirement is mainly for protection of project founders from existing or future government regulations. Many ICOs originally never planned to require KYC from generosity campaigners but have to change rules for the same reason I already stated.

that what exact point and project founders don't want to ruined their project due to government regulation decisions on ico funding that's why ask kyc information and put country restrictions so they are safe and don't get any regulation problems later.

[cepot9]

There are multiple causes for this ...

1. Some legit ICOs can use KYC to reduce the number of fake accounts trying to benefit their "generosity".
2. Some not-sure-if-legit-probably-no will sell the KYC info to the highest bidder.
3. Some bounty managers may use KYC to not pay for some work done.

All in all, since the ICO/bounty/airdrop is made my people you don't know and you are not sure about their intentions, it's safer to not give out your info so easy, since you may have nasty surprises later on.
Even if you'll lose a couple of easy bucks because of that.

right, actually I am still confused by the way they ask for kyc, and in my opinion it is not a problem if they can guarantee we will get a profit or at least guarantee a good project

[SaoAccel]

Well in my opinion KYC would still be the best way to lessen up fake bounty hunters and this would maximize the tokens you could get since fake ones can not do KYC's except they have already planned it and know what to do and has back up plans.