Is KYC necessary for bounty?

[CryptoNewbie]

Companies that conduct a KYC procedure for bounty hunters can divided into 2 groups.

1. Companies that initially write that there will be a KYC procedure. To such companies there are no special questions, who wants to take part in their  bounty campaign, he'll be, who doesn't want - will not.

2. Companies that first not planned a KYC procedure, and then, at the end of the bounty campaign, declare it necessary. Such companies are scammers, IMHO.

[ata kei]

I do agree in some comments. There ia no need kyc for airdrop

[CryptoNewbie]

The FIANCIA project in its spreadsheet published the personal phones of those who passed the KYC.

Does someone else want to go through this procedure?

[owmivmen]

I do not think it is necessary but this is the regulation of bounty organizers to reduce multi account and fraud against campaign.

[CryptoNewbie]

I do not think it is necessary but this is the regulation of bounty organizers to reduce multi account and fraud against campaign.

Alas. All scammers will buy documents in a darknet and pass a KYC procedure.

[owmivmen]

I do not think it is necessary but this is the regulation of bounty organizers to reduce multi account and fraud against campaign.

Alas. All scammers will buy documents in a darknet and pass a KYC procedure.

Yes I think so and before I follow the bounty I always ask dev if it requires kyc for bounty participants. Should not bounty participants need a kyc because the identity document can be misused for criminals.

[@Royale]

I do agree that KYC should not be mandatory to bounty participants but should be for big time investors in compliance with the Anti-Money Laundering (AML). Although i've seen some ICO's that posted the need of KYC for the bounty participants in the beginning of their campaign. It's a good thing though informing us beforehand, leaving the decision to us (campaigners) if we will still join or not.

[Grawixy]

I understood that KYC became a prudent measure for ICOs when regulators starting to say they are going to pressure exchanges into delisting some tokens. Because the tokens are securities. So KYC and AML became a necessity when ICOs wanted to exit fro ETH into fiat into a bank account. Then the solution, at least I thought so, was airdrops with tokens being gifts and no investment of any kins present, so securities are out of question. And now I see there are ICOs requring KYC for airdrops, which I do not understand. Some believe ICOs are out to make some money on the side by selling the KYC data on darknet on something, but I find it hard to believe all of them would be doing it. So there must be another reason for it, I guess.

[Niteroy]

The whole idea of cryptocurrency was built on anonymity. How then is that lot of ICOs and bounty programs are requiring KYC before they pay bounty hunters. Or are they collecting data of people to sell to phishing sites or the dark web?

Recently started a lot of new ico projects team which aims to the fact to collect money and abyss forever money investors, and bounty hunters doing only advertising in social networks using your accounts. So I think kyc have to take place that those who runs the ico.

[moonking]

The whole idea of cryptocurrency was built on anonymity. How then is that lot of ICOs and bounty programs are requiring KYC before they pay bounty hunters. Or are they collecting data of people to sell to phishing sites or the dark web?

To be honest I don't trust ICO's with personal data at all.  Bitcoin is only anonymous in my country if someone gives it to you, and you keep it in a wallet, any kind of purchase or sale to the exchange requires personal information.  Full KYC for buying, and name and address for selling.

[Master107]

It is possible that the management can sell the personal information specially when everything goes wrong. That is the unknown future and the risk by submitting our personal info. But I hope they would not do it.

[DiZEL]

As far as I know, many exchanges, before adding a token, require the team of that project that all the coin holders pass the KYC procedure, and the bounty members of the campaign also. Therefore, I do not see anything strange in this

[Leebarnes]

I think KYC is not necessary for bounty but  mostly ICOs investor is required to submit their identity because the bank required them so that they can identify who their investor is.

[ComeBack]

I don't really like KYC's too, Our identities and documents are on risks if we will going to pass it for that kyc. Also we don't know if the project who's asking for kyc will really going to keep it for their own. What if the project turned to scam then what are they going to do to all documents they have about their investors and people who passed it.

[Zed0X]

The whole idea of cryptocurrency was built on anonymity. How then is that lot of ICOs and bounty programs are requiring KYC before they pay bounty hunters. Or are they collecting data of people to sell to phishing sites or the dark web?

There is that risk of identity theft also. Bu I think KYC is mainly done for protection. If you are not comfortable with it, just move to another campaign and wait for those coins/token to be listed on exchanges.