KYC for penny money?

[Pattart]

Theres a Lot of free money in cryptoworld, sometimes you need to do KYC before you receive your Penny money and sometimes you don’t need to. On the other-hand, they are both penny money, it’s your choice if you want to take a risk for just small amount of money. But for me of-course, its the best to not get involved and risk your identity for just that small amount.

If people have lots of choices why would they give their personal identification to someone who they didn't know? Since most people in Asian countries are not that rich, they aren't afraid to take the risk of handing their personal details to someone especially to those people who work with a minimum wage.

There are many choices in making money in crypto, and there are many bounties that don't require KYC, I won't do it for just for
a few pennies, I won't risk my identity just because of a small reward, it's not worthed you know

[Farma]

Purchase an ICOs is not important for us using KYC because we use our money to buy ICOs not earn coins by free way, we make investment and our data is most important than our data using for KYC.

many think that their personal data is very important and confidential, because of this, many people do not want to do KYC. even I did it only if it was needed. for other things, sometimes people sell their identity easily, even for little money, and sometimes with projects that are not very clear.

[Helpme_please]

Purchase an ICOs is not important for us using KYC because we use our money to buy ICOs not earn coins by free way, we make investment and our data is most important than our data using for KYC.

many think that their personal data is very important and confidential, because of this, many people do not want to do KYC. even I did it only if it was needed. for other things, sometimes people sell their identity easily, even for little money, and sometimes with projects that are not very clear.

personally i will not do this,my personal data more expensive than just bounty reward.its very dangerous to give our personal data to strength people moreover in decentralized market.

[LogitechMouse]

If they are desperate enough for that "penny money" you are saying then they will give their information without thinking of the risks of it.

I often see this in the airdrops and bounty campaigns where the participants are required to send their personal information in exchange for a small penny and in the end, it will be useless because the token has no value. To be honest, I will not do this. I will not risk my personal information for the sake of "small penny".

[smyslov]

I saw in my social media feeds that there's a lot of people now posting about free cryptocurrency that needed of kyc before you get a penny money. This people not think if it's will good to them to give their identity in any site for just penny money. Yeah it's free but your identity will be possible to use in any harmful doings.

Whats your thoughts about this?

They haven't realized the danger of giving their important details for a few penny, all they want s to get as many free coins they could get because they are promised with a huge amount of money by these developers until they found out that they are claiming worthless or shitcoins.

[dat.ho12492]

KYC initially have very use case previously. They use it to verify their customer as standard regulations procedures but seems nowdays airdrops are trying to get as much information from person with no means of complying personal data protection, I joined such and for awhile during the bull I was getting lots of scam calls and messages regarding investments and binary option

Yes, KYC for free crypto right now is really something we should not do when the value of those crypto is not too high, the reward is just a small number, participation is just a waste of time and can get results as you say, a leak of personal information, and we should remember that our information is very important, it can be related to the assets in the exchanges, the number will be huge. Personal information with a few dollars reward, an inappropriate exchange, keep away from such cases, it will be better for us

[ecnalubma]

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

[senin]

I saw in my social media feeds that there's a lot of people now posting about free cryptocurrency that needed of kyc before you get a penny money. This people not think if it's will good to them to give their identity in any site for just penny money. Yeah it's free but your identity will be possible to use in any harmful doings.

Whats your thoughts about this?

I think that such generosity should be ignored and avoided. For the distribution of free coins or tokens, no one has the right to request a KYC check. KYC checks should be conducted only to prevent the laundering of dirty money and combat the financing of terrorism. Therefore, such a test can be carried out by individuals who invest in cryptocurrency. It is hardly worth suspecting all those who distribute several free tokens that they are hunting for confidential data, although this is not excluded. Most likely, they themselves do not know their authority and do what others do.

[tyz]

KYC has nothing to do with the amount of reward received for joining a bounty program.

of course it does matter because afaik kyc is commonly done on bigger transaction like for example if you are withdrawing a huge amount of cash and if you are an investor of an ico but kyc on an airdrop and on a bounty is not usual anymore .

Wrong, it used to be like that in the past. Meanwhile, a KYC is mostly requested from bounty campaigns for every sum (even very small ones of $10 or $20). This is ridiculous from a regulatory point of view. Often it's just about fishing identities. If you're in Darknet, you'll find a lot of offers of different identities with a copy of the ID and a bill where many will surely come from KYCs.

[wxa7115]

Theres a Lot of free money in cryptoworld, sometimes you need to do KYC before you receive your Penny money and sometimes you don’t need to. On the other-hand, they are both penny money, it’s your choice if you want to take a risk for just small amount of money. But for me of-course, its the best to not get involved and risk your identity for just that small amount.

Many people are so desperate to get money that they are going to do everything they are told even if that means giving up their identity to scammers, they do this because they see cryptocurrencies as the only hope they have to improve their living conditions, but most of those projects that ask for KYC are not really going to become successful as many people among the community do not agree with such a thing and they are never going to invest in such coins.

This limits the money they could get to develop their project and also limits the talent pool they have since many developers will probably refuse to work with a project that ask for that kind of information, as such it is better to stay away from such projects and never invest in them.

[MakeMoneyBtc]

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

Well, for some people their identity could actually worth less than the reward they are getting from completing such KYC's. For example the minimum wage in countries like India is about 50$ from what I remember and right now Blockchain is offering a reward of 50$ for verifying your identity. This means that a person from India would earn a monthly salary for completing a 5 minute task.

[andriarto]

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

Well, for some people their identity could actually worth less than the reward they are getting from completing such KYC's. For example the minimum wage in countries like India is about 50$ from what I remember and right now Blockchain is offering a reward of 50$ for verifying your identity. This means that a person from India would earn a monthly salary for completing a 5 minute task.

all back to yourself. with someone giving up the kyc even though it's a small gift. but there are also those who do not crash to surrender Kyc. especially sometimes we only know the rate of the coin after the process ends, because the new listing

[Sithara007]

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

You are absolutely right. Just create an account in any of the currently active dark market sites, and you can understand the severity of this problem. KYC documents are available to be purchased in bulk, for as little as $10 per document. These documents are in turn used for criminal activities and money laundering, and in the end the victims of the identity theft will be caught up in the investigation. My only advise is not to take this big risk, in order to receive $10 o $15 in bounties.

[Farma]

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

You are absolutely right. Just create an account in any of the currently active dark market sites, and you can understand the severity of this problem. KYC documents are available to be purchased in bulk, for as little as $10 per document. These documents are in turn used for criminal activities and money laundering, and in the end the victims of the identity theft will be caught up in the investigation. My only advise is not to take this big risk, in order to receive $10 o $15 in bounties.

that's the danger of giving our identity to the unknown. sometimes people are so interested in 10-20 $ for KYC fees. in fact, we do not know that that identity can be used for crime. it's better to be careful before giving our identity to someone.

[Loopper]

Some people have no idea on what they're doing, but instead of bashing sometimes I tend to warn them and explain how valuable their identities are. Some scammers make their promotions attractive thats why they can always attract their preys.

You are absolutely right. Just create an account in any of the currently active dark market sites, and you can understand the severity of this problem. KYC documents are available to be purchased in bulk, for as little as $10 per document. These documents are in turn used for criminal activities and money laundering, and in the end the victims of the identity theft will be caught up in the investigation. My only advise is not to take this big risk, in order to receive $10 o $15 in bounties.

that's the danger of giving our identity to the unknown. sometimes people are so interested in 10-20 $ for KYC fees. in fact, we do not know that that identity can be used for crime. it's better to be careful before giving our identity to someone.

It could happen with your carelessness later. many people are wrong to use data from what we have sent. It's true that you don't trust other people, Which is not necessarily the truth.

[Ozero]

KYC checks for participants in ICO bounty campaigns are completely illegal because they run counter to the task of conducting such a check. ICO teams abuse their rights in this case, taking advantage of the lack of regulation of this type of activity. Therefore, it would be best not to join those events that require KYC verification or provide them with false data. In this case there will be no responsibility either.

[emmybd]

I am totally against giving your personal info for a small amount of money, as you personal data can be used in future for any illegal ways. So, bounty hunters should be careful about it.

[Apes]

I am totally against giving your personal info for a small amount of money, as you personal data can be used in future for any illegal ways. So, bounty hunters should be careful about it.

Yes. everyone will refuse to do KYC, especially the bounty participants. only fools do KYC for pennies. as far i know do KYC, it is mandatory if the received funds are at least 1 BTC, other than that the are not required. doing KYC on projects that gives penny is very risky. because identity validation is very valuable on the global internet.

[fiulpro]

As we all know the government time and again reminds us how it's not at all a great idea to share your personal details to someone you barely know , if someone is giving money free for taking those details I don't know if it's not fishy then what will it be ?
Even a survey could be done from that but at the same time who would like giving out his cash ?
Things like that might not be fraud but also at the same time aren't something that you should do.
Better keep your identity rather than having 1$ or a 2 .

[Pamadar]

As we all know the government time and again reminds us how it's not at all a great idea to share your personal details to someone you barely know , if someone is giving money free for taking those details I don't know if it's not fishy then what will it be ?
Even a survey could be done from that but at the same time who would like giving out his cash ?
Things like that might not be fraud but also at the same time aren't something that you should do.
Better keep your identity rather than having 1$ or a 2 .

In that sense and small amount of money why bother to do things like this, you need to protect your identity as there's always possibilities that you'll be hack or it can be used in a illegal things online, if you are willing to take the gamble make sure that you are fully aware of what you are supporting or dealing with.