The misunderstandings in KYC (know your customer)

[Sacramentus]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

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[Irvinn]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

You do not understand the essence of KYC verification. This check is carried out to prevent cases of money laundering and to combat the financing of terrorism. The ICO teams themselves do not do this. They receive information and hold it for a certain time in case the relevant state bodies turn to them for the necessary information. ICO teams actually do not need this information. What difference does it make for them whether a citizen of one or another country will have their token? If this absurdity with the passage of the KYC test develops, then it will be possible to install KYC checks in all outlets. Imagine, you go to one store to buy cigarettes or juice, and you are told, pass before this check KYC. Fill out forms, attach copies of your passports, certificates of residence, and so on. Come after this to another store - the same thing. Do you think this will be normal?
One should not confuse the state program of combating crimes and the simple, unjustified interest of ICO teams to our confidential data.

[Sacramentus]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

You do not understand the essence of KYC verification. This check is carried out to prevent cases of money laundering and to combat the financing of terrorism. The ICO teams themselves do not do this. They receive information and hold it for a certain time in case the relevant state bodies turn to them for the necessary information. ICO teams actually do not need this information. What difference does it make for them whether a citizen of one or another country will have their token? If this absurdity with the passage of the KYC test develops, then it will be possible to install KYC checks in all outlets. Imagine, you go to one store to buy cigarettes or juice, and you are told, pass before this check KYC. Fill out forms, attach copies of your passports, certificates of residence, and so on. Come after this to another store - the same thing. Do you think this will be normal?
One should not confuse the state program of combating crimes and the simple, unjustified interest of ICO teams to our confidential data.

Kyc are not carried out just for money laundering only. You should read more about kyc. Even if the company issued the token for free, they could still require kyc from you depending on the kind of token they offer

[Teraboy]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

You do not understand the essence of KYC verification. This check is carried out to prevent cases of money laundering and to combat the financing of terrorism. The ICO teams themselves do not do this. They receive information and hold it for a certain time in case the relevant state bodies turn to them for the necessary information. ICO teams actually do not need this information. What difference does it make for them whether a citizen of one or another country will have their token? If this absurdity with the passage of the KYC test develops, then it will be possible to install KYC checks in all outlets. Imagine, you go to one store to buy cigarettes or juice, and you are told, pass before this check KYC. Fill out forms, attach copies of your passports, certificates of residence, and so on. Come after this to another store - the same thing. Do you think this will be normal?
One should not confuse the state program of combating crimes and the simple, unjustified interest of ICO teams to our confidential data.

My friends are getting scammed by participating in the bounty and airdrop which created KYC verification. OP never seen an ico which selling the stolen KYC documents on the darkweeb or even this forum.
Hdac already registered as a company in swiss and it has received no letter action from swiss government without doing KYC to the bounty participants while there are some other platforms are getting a big problem to be registered even they are implementing KYC verification to everything.

[Chika08]

I don't have any problems with kyc yet, if I go into any project and I was asked for kyc, depending on the type of project and it's quality will determine if I will submit my documents or not.

[Papcio77]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

It is quite simple actually, but some hunters are sensitive me as well, if I found some projects that are suspicious I think twice before I do the KYC process, cause I know it will ruined my life if fall in the wrong hands.

[axel2078]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

You do not understand the essence of KYC verification. This check is carried out to prevent cases of money laundering and to combat the financing of terrorism. The ICO teams themselves do not do this. They receive information and hold it for a certain time in case the relevant state bodies turn to them for the necessary information. ICO teams actually do not need this information. What difference does it make for them whether a citizen of one or another country will have their token? If this absurdity with the passage of the KYC test develops, then it will be possible to install KYC checks in all outlets. Imagine, you go to one store to buy cigarettes or juice, and you are told, pass before this check KYC. Fill out forms, attach copies of your passports, certificates of residence, and so on. Come after this to another store - the same thing. Do you think this will be normal?
One should not confuse the state program of combating crimes and the simple, unjustified interest of ICO teams to our confidential data.

Kyc are not carried out just for money laundering only. You should read more about kyc. Even if the company issued the token for free, they could still require kyc from you depending on the kind of token they offer

But it is really annoying when we provide KYC to receive free tokens, our Documents are very important and so we should not take such risks.

[karagun125]

I think if the ico project is real and not a scam, kyc is ok then, it is in favor on the both sides the company and the investors andnbounty hunters. But if the project is just a fraud and scam, then it is dangerous on the side of investors and bounty hunters that uses their personal profiles and identifications that it would be steal by the thief and use their profiles identification for some malicious purposes.

[zikzag]

The tokens purchased on the exchange where you don't have to go through KYC is this normal? Is this rightly for hunters and investors? For a penny many times less than the price of ICO. No, not fair.

[keyscore44]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

Actually, in most cases, it is not about that you are investor, customer or bounty hunter, but just because of the law regulations in the place where ICO as company was registered. Sometimes when developers are not sure if they should to ask for KYC verification or not, they choos to do this to avoid future complications.

[Ranly123]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

That's what we have to emphasize to those bounty hunters who always complain about KYC. Yes it would be inconvenient to always do the same procedure in every campaign we join but at the very least we can see that the project is doing it for the security of their precious platform.

[Herbert2020]

actually you are the one who is misunderstandings things!

these so called "projects" are either purely scams who are set to make the most amount of money which means they will sell your identity on the dark market to make more money from you and call that "KYC" or they are created by newbie idiots who thought if they ask for KYC their shitty projects would look more legitimate so they can fool more people into giving them their money. and their databse is easily hacked and the KYC documents would still end up in dark market.

and that is the main reason why everyone has been complaining about it. it has nothing to do with being an investor or not.

[Capt00]

Having a KYC has a good side to the project as always, we, the hunters or investors were always at risk if we do that KYC especially if the project is a scam. Well, we can't blame them because there's a legit project that still requires KYC to prevent bounty hunters who abuse their project. Bounty hunters can join multiple accounts or even how many as they can if no KYC required. So, in this case, we know which better to give our personal data ort trusted one or much better avoid a project that not have KYC.

[pawanjain]

I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.

But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.

Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.

Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.

The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.  So if you say that you can't pass through kyc because you are a hunter, then you are the cheater

I have seen hunters getting angry on ICO teams because of KYC verification and I do agree with them to certain extent.
The point is that the announcement of KYC is done after the ICO is over which I think is wrong. If an ICO wants a KYC then they should be announcing it before the ICO and campaign starts.
What is the point of announcing a KYC after the ICO is over ? It does feel like they are cheating us because many hunters don't like KYC or don't want to undergo a KYC.
Hence they loose their effort and time in the bounty campaign.

[rdewilde]

I never hate KYC, but I really hate the bounty asking for KYC. I was their victim, in December 2018 I worked hard for 3 months and I could not pass KYC from them. Although I provided all the information as requested

[Latviand]

I never hate KYC, but I really hate the bounty asking for KYC. I was their victim, in December 2018 I worked hard for 3 months and I could not pass KYC from them. Although I provided all the information as requested

Many people do really have experiencing a lot of trouble in submitting their KYC for them to complete all of their requirements because the ICO teams are not that convince with their verification. We all understand the purpose of KYC for them to know their participants or to avoid money laundering.

[palle11]

What I believe the reason for KYC is , is to avoid double standard. That is to represent yourself twice like cheating the ICO. They introduced it in bounty campaign to avoid alternative accounts

However, ICO announcing kyc after campaign is bad.

[5ensei]

The problem is that KYC is not always done properly or securely. Uploading your full ID to a random company who often have not even done the KYC themselves is a huge risk and not one worth taking

[maldini]

Yes, there is nothing wrong with the bounty hunter, but many ico developers are convoluted in terms of distributing tokens, so as to the detriment of bounty hunters, they sometimes complicate the process of kyc, make policy kyc suddenly and in my opinion the things are wrong so that the bounty hunter gets annoyed with the presence of Kyc

[BitcoinHodler]

KYC is only needed for a business that is regulated and is forced by the law to implement and enforce KYC on their customers. not a single ICO has ever been legal let alone be regulated or even be a real business so them enforcing KYC is not understandable under any circumstances!