KYC for Bounty. Why do it?

[icekohl]

Kyc is the best way to stop people doing multiple accounts, there are alot of greedy hunters in crypto space, without kyc hunters will keep flooding bounty spreadsheet with multiple accounts.

I can say that KYC system is too easy to pass, except KYC by camera. No matter how difficult it is to ask KYC, they will find the way to pass it. It is not necessary for Hunters, sometimes you have to provide your information for only a few cents, it really is not worth it.

[voltesbit777]

Why do some projects require KYC for bounty?  Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs?  Are there jurisdictions which would require bounty to have KYC?  This is not a token sale after all.

This is depend on the discretion of the bounty manager, probably prevent cheater in the campaign.
But sometimes there is also risk, what if the project was scam only especially if they are pushing the bounty hunters
to submit it even the the participants not yet starting His/Her work for the campaign. So that's really risky actually.

[fortunecrypto]

Why do some projects require KYC for bounty?  Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs?  Are there jurisdictions which would require bounty to have KYC?  This is not a token sale after all.

I don't recommend KYC or participating in bounty hunting or airdrops that do KYC, it's very risky the cheating stuff is just an alibi, for bounty hunters not to get their rewards, because when they first launch their campaign, they will tell you that there will be no KYC, but after the token calculation and before the distribution, they will announce bounty hunters to go KYC, it's an old trick.

[iyah adrian]

In fact Bounty KYC is a good aspect that will help fake, duplicate people identify so many projects make KYC practical for both the Bounty hunter and the investor. It's true I didn't support kyc before, but now I want to accept kyc because now I participate in very few projects.

KYC is good for real bounties.
As you said, there are several reasons why KYC should be used for bounty participants. But from all that, there are still many people who don't like KYC. For me personally, as long as I am confident in the project. I will do it.

[Vishnu.Reang]

KYC process actually work to know the customer.You can easily decrease the scammer and fraudster.I think it work much for bounty .The dev. team easily catch up the double entry scammer and remove them to rewards .I think there is nothing about illegality just make it clear to rewards the real hunter.

Seriously? There are many better and less tedious ways to remove the double entries. But none of the bounty managers seems to be interested. Do you think that the only way to remove multiple application is by KYC verification? So are you willing to send the scanned copy of your passport to some unknown bounty manager?

[Endikadija]

It is for the solution of the multiple entry but it wont cure the scam side of the team, how we are sure about the people behind the team if they are legit or not?

When it comes to legality there are international law about KYC process that must be done but it wont assure the payment for the participants.

Mor ethan tens cases about the project become a scam after the verification by hunters and it's not safe anymore. I heard that data collected from the hunters have been sold to the darknet. I even meet a scammer who has claimed he was selling the investor's email but i think that's related to the bounty hunter's data or some may investor's email. i have seen that in this trade section.
It's too risky. the double entry is easy to be discovered through use BTT verification.

[domoy77]

It is possible to reduce fraud, because many accounts are greedy, with the existence of KYC the relationship between the two parties knows each other, as long as the project is really good, clear from the road map etc.

[103deltafox]

Most times the reason  kyc is implemented for bounty hunters is to prevent hunters that want to cheat the system with multiple accounts. Also when a bounty restricts some countries from participating. Though I am not in support of kyc because some scam projects could sell people's information.

[Rohtox]

Why do some projects require KYC for bounty?  Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs?  Are there jurisdictions which would require bounty to have KYC?  This is not a token sale after all.

Yes, that's not token sale as you said. however There's a good and bad side while submitting KYC for bounty hunters.

Good thing is the KYC process will eliminate bounty scammers from the list
bad thing is There is no guarantee what your data will be made to by those who receive your KYC data.

However, KYC must also be implemented using the same method as Token Sale, even though Bounty Hunters don't invest money there (but they invest with their work that promotes the project).
if the KYC mechanism differs between Bounty Hunters and Investors (for example, KYC Bounty Hunters with Google Form) I think this should be further investigated, even for good projects. because it is possible, bounty managers collect your data unilaterally and without the project developer knowing, then they (Bounty Managers) use your data for their needs.

[Free1bitco.in]

Why do some projects require KYC for bounty?  Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs?  Are there jurisdictions which would require bounty to have KYC?  This is not a token sale after all.

Yes, that's not token sale as you said. however There's a good and bad side while submitting KYC for bounty hunters.

Good thing is the KYC process will eliminate bounty scammers from the list
bad thing is There is no guarantee what your data will be made to by those who receive your KYC data.

However, KYC must also be implemented using the same method as Token Sale, even though Bounty Hunters don't invest money there (but they invest with their work that promotes the project).
if the KYC mechanism differs between Bounty Hunters and Investors (for example, KYC Bounty Hunters with Google Form) I think this should be further investigated, even for good projects. because it is possible, bounty managers collect your data unilaterally and without the project developer knowing, then they (Bounty Managers) use your data for their needs.

of course in this case there are bad and good. the advantage of KYC for bounty hunters is, we can filter scammers from a project. however, the bad is, we cannot guarantee our data. yeah, that is the thing that is the most questioned. however, there is no compulsion in this case, it all depends on yourself. if you feel it's appropriate, it's better to do it.

[Annexia]

Well I think most projects initiate KYC in their bounty program to curb rate of scammers. I don't see it as appropriate either. But bet me, despite the kyc procedures, those who would still scam would scam. I think projects should be more concerned about "Honest works".

[senin]

Most times the reason  kyc is implemented for bounty hunters is to prevent hunters that want to cheat the system with multiple accounts. Also when a bounty restricts some countries from participating. Though I am not in support of kyc because some scam projects could sell people's information.

First, a KYC review should not be conducted to avoid bounty hunters participating in ICO bounty campaigns with multiple accounts. It should be carried out only with the aim of preventing cases of dirty money laundering and combating the financing of terrorism. Performing a KYC audit for another purpose is illegal.
Now ICO teams are abusing KYC checks very much, because this activity is still practically not regulated by states. Following the FATF recommendations of June 21, most states will adopt their internal laws throughout the year, and then in any case, we will not have to go through a KYC check if the amount of tokens we receive is below one thousand euros.

[FanEagle]

It is also gives you the risk like what happened with binance. I mean how are we so certain that our KYC is safe? Companies want to be safe and be in the legal side by getting our information for bounty but at the end of the day this is a two way street and we want to be certain as well.

For example, our information on binance got leaked, will binance pay us all for it? Will there be compensation? No. They are just gonna go with "it was a third party that got hacked, not our problem" and move on. It makes no sense to trust these companies with our information when they are not even caring about it, if you care enough than put up a bounty for your KYC and say that if any information gets leaked with the KYC than pay everyone damage money where each person that got their KYC hacked will be given 1000 dollars for it. If you can't do that than I don't trust you enough to give you my info.

[Oyarebu]

Why do some projects require KYC for bounty?  Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs?  Are there jurisdictions which would require bounty to have KYC?  This is not a token sale after all.

KYC process actually work to know the customer.You can easily decrease the scammer and fraudster.I think it work much for bounty .The dev. team easily catch up the double entry scammer and remove them to rewards .I think there is nothing about illegality just make it clear to rewards the real hunter.

Even at that, the KYC is good for bounty hunters and to actually avoid double entry but am not in support of the KYC because of the possibility of the data be hack or stollen from the hands of the team. We have seen what happened to Binance and others who couldn't protect their data for their customers, so, am aren't a fan of KYC.

[ginobitcoiner]

In fact Bounty KYC is a good aspect that will help fake, duplicate people identify so many projects make KYC practical for both the Bounty hunter and the investor. It's true I didn't support kyc before, but now I want to accept kyc because now I participate in very few projects.

yes, I strongly agree with that, many people say that it does not recommend KYC to get a bounty reward, but it is very effective to reduce losses from the act of bounty participants who use multiple accounts and harm other participants.

[acoco]

Why do some projects require KYC for bounty?  Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs?  Are there jurisdictions which would require bounty to have KYC?  This is not a token sale after all.

here the choice of the project team itself, if they have investors from the USA, then the SEC asks ico to be held as part of the KYC

[No One]

Bounty project teams have their own rules and regulations. So they make KYC procedure mandatory accordingly. Some projects specify KYC procedure is required beforehand. But what is irritating is that some projects do not require KYC information beforehand, but later they require it.

[masterrex]

Why do some projects require KYC for bounty?  Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs?  Are there jurisdictions which would require bounty to have KYC?  This is not a token sale after all.

Know your clients or KYC is required in different purpose such required by law, or other important purposes. While in bounties it doesnt matter if the team was required to do KYC and announce it at the very beginning of the campaign. Participants must know it first if they can pass the required documents before they join in any campaign. for me theres nothing wrong about KYC if it was legitimate.

[VanDeinsberg12]

here the choice of the project team itself, if they have investors from the USA, then the SEC asks ico to be held as part of the KYC

That's is a solution to prevent the investors from USA due to the SEC regulation but the majority of them are buying it through exchange site.
Basically that's the real purpose of KYC to be applied for investors.
KYC must be optional for the bounty hunters and if the projects are willing to pay the hunters use bitcoin or ether and it seems like that will not be a big problem with the regulation.

[Gab20]

It is a good thing that there are still good bounty campaigns that do not do not ask for KYC from bounty hunters. After all, it is not as if asking for KYC compelling bounty hunters who want to get their rewards to do KYC  is a guarantee to the success of the project. So, look around for projects without it.