Why I don't Support KYC in cryptocurrency as it is

[DakuS]

It is obvious most people are not comfortable with KYC verification that is increasingly becoming common anytime one wish to participate in a project.

if the project developers and team members of the project you are interested in are Kyc verified and if they are following all the rules of the country from which they are developing their project, then in my opinion, their is no harm in kyc verification but for the sake of bounty tokens, I would never give away my identity to some unknown people.

[Whate]

KYC verification in the bounty gift makes me less comfortable. Especially with the data security that I submit. We don't know the clarity of the data I ran where and who brought it.

[Fly_Away]

KYC verification in the bounty gift makes me less comfortable. Especially with the data security that I submit. We don't know the clarity of the data I ran where and who brought it.

What kind of data do they usually ask for bounties?

[Sabiduria]

It is obvious most people are not comfortable with KYC verification that is increasingly becoming common anytime one wish to participate in a project.

if the project developers and team members of the project you are interested in are Kyc verified and if they are following all the rules of the country from which they are developing their project, then in my opinion, their is no harm in kyc verification but for the sake of bounty tokens, I would never give away my identity to some unknown people.

How do you check if they follow all the rules?

[Abiodun]

It comes to the personal identities of the users. If so it can be fine, but When it comes to me, its a big NO.

It's always a good idea to know the kind of project we are doing KYC into because many projects in the cryptocurrency world are scams and they tend to steal your identity putting you into trouble..

[androidpobeditel]

KYC is quite a sore subject for bounty players and in fact none of the bounty managers can not allow to spoil their reputation without stating in the bounty about the need to pass KYC from the beginning. With regards to passing it is all just experienced baotist and selection of suitable project carefully, i.e. no errors in the passage identify he isn't, because the work was wasted time and effort. And finally KYC since the end of spring does not stop the bounty in the participation in the project, and some on the contrary are looking for projects with such a serious approach.

[dragononcrypto]

Ok, they actually can do nothing to your documents. It's just a copy. How are they able to use them? Is there any real life examples?

KYC documents from crypto project / exchanges get sold of the darkweb. Why people buy them and what they do with them can't be good, but it could allow some people to impersonate someone else by using their documents as KYC (when a selfie isn't required), which is often enough to be honest.

KYC verification in the bounty gift makes me less comfortable. Especially with the data security that I submit. We don't know the clarity of the data I ran where and who brought it.

What kind of data do they usually ask for bounties?

Usually passport front, main & selfie with passport. Sometimes it can even be proof of address (bank statement / utility bill) as well.

[Sabiduria]

Ok, they actually can do nothing to your documents. It's just a copy. How are they able to use them? Is there any real life examples?

KYC documents from crypto project / exchanges get sold of the darkweb. Why people buy them and what they do with them can't be good, but it could allow some people to impersonate someone else by using their documents as KYC (when a selfie isn't required), which is often enough to be honest.

KYC verification in the bounty gift makes me less comfortable. Especially with the data security that I submit. We don't know the clarity of the data I ran where and who brought it.

What kind of data do they usually ask for bounties?

Usually passport front, main & selfie with passport. Sometimes it can even be proof of address (bank statement / utility bill) as well.

That's what I was afraid to hear. I mean, it's cool sending the money fast and without problems by means of crypto, but risking your documents being leaked....

[Fly_Away]

Ok, they actually can do nothing to your documents. It's just a copy. How are they able to use them? Is there any real life examples?

KYC documents from crypto project / exchanges get sold of the darkweb. Why people buy them and what they do with them can't be good, but it could allow some people to impersonate someone else by using their documents as KYC (when a selfie isn't required), which is often enough to be honest.

KYC verification in the bounty gift makes me less comfortable. Especially with the data security that I submit. We don't know the clarity of the data I ran where and who brought it.

What kind of data do they usually ask for bounties?

Usually passport front, main & selfie with passport. Sometimes it can even be proof of address (bank statement / utility bill) as well.

Well, there is no reason to ask for KYC cause a person does not buy tokens, it's a gift. Can't get this logic.

[corr]

I fully support you and agree with you. I am not aware that anyone needs my personal data, photos, and so on. why is it for them? I am tired of worrying when someone requests my personal data from me and I do not agree with such conditions. Who knows how and when will your personal data be used and if I will not have such problems when you visit other countries. Your personal data can then to be used by fraudsters in bad affairs

[shadowdio]

I agree with you they should not require KYC for bounty campaigns, It is risky to send our ID to unknown person, I'm sure they will use it to scam people.

[moonuranus]

I really hate those bounty campaigns who requires KYC for their participants but we can't really blame them for being safety first agains frauds and multi accounts to save their project from cheaters.

[Alter]

Well, it may be true, one of the first aims of cryptocurrency is for a decentralized financial system. However, during the growing age of the cryptocurrency world, it is more complicated than it is. Soe projects or coins need KYC because there is the correlation to the banking system and centralized ways. Just be selective when we are going to participate in the KYC process.

[Fenix]

The question is not even that cryptocurrency is not subject to regulation, and therefore we must be against the KYC verification. The requirement to undergo a KYC check on ICO bounty campaign participants is generally illegal, since such a check has completely different tasks. It should be conducted only for the purpose of preventing the laundering of dirty money and the fight against the financing of terrorism. For other purposes, it should not be applied, as this violates our privacy rights.

[alltalk]

I know what we think about KYC. It has a high risk with there is no guarantee of its security. I also agree with people who refuse KYC procedure on bounties. Except I am an investor, I will never do KYC for something that has no guarantee.