I signed up to an ICO airdrop. Why do I now need to perform KYC?

[KYCbench]

Everyone who hunts for airdrops and bounties knows the feeling. You sign up to website newspapers, join multiple Twitter/Facebook/Telegram channels, chat with bots, write articles and then the airdrop ends. A month or two goes by and suddenly (if you noticed the telegram announcement amongst the hundreds of Telegram Groups) you are asked to perform KYC through a rushed website with a simple buggy form.

You have completed already all the tasks asked of you, spent so much of your time and now you need to trust a quickly thrown together website as the ICOs owners only realized last minute it had to perform the airdrops KYC.

It can be more than frustrating to be filling out further forms, submitting documents to projects you may believe in, but whether you can trust their server’s security is another point entirely.

Unfortunately we know that there is a very large number of ICOs disappearing but does your information just disappear as well?

KYC and AML regulatory procedures are important to follow because they ensure that the crowdfunding process is free of bad actors. It may scream against every libertarian / anarchistic vein in your body to identify yourself to a third party but unless this is done, bad actors will be using ICOs to launder money and therefore permanently stain the entire blockchain industries reputation.

KYCbench can help ICOs and airdrop crypto treasure collectors like you by providing a platform that is easy to use, secure and private....

Read more at: https://www.kycbench.com/i-signed-up-to-an-ico-airdrop-why-do-i-now-need-to-perform-kyc/

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[debra]

Not only bounty, now airdrop also requires participants to use KYC. Because this is to avoid multiple accounts as is often the case with bounty programs. With KYC this will also make it easier for companies to record yourself and distribute tokens when the project is successful.

[88percent]

Usually to record themselves to distribute tokens after the project is finished. But you must be careful if you are asked to collect KYC. If the project is a clear project, you don't need to doubt KYC verification. But if the project is unclear, it's better to skip it.

[Arendra]

KYC is a data collection of airdrop participants. The existence of this KYC will benefit you so that no one will duplicate accounts and harm other accounts. But if you are worried, it's better to avoid KYC in a project.

[Asebaby]

That's is to tell you that nothing is freely done,its just for security measures in money laundry that's why you need KYC.

[verifyme]

@arendra, I agree. A little extra, one only has to make sure that the project that is being followed is a legitimate project. That way there is no concern to submit data to participate in airdrop.

[bubblebubble]

Depending of airdrop amount KYC is or not necessary because of it is not important identify people to which sending few tokens.
Generally I never have had a KYC for an airdrop for few tokens in reward.