Post
Topic
Board Altcoin Discussion
Re: KYC system at some program!
by
giancarlo01
on 10/06/2018, 23:02:50 UTC
in recent taim, increasingly require KYC ICO - without it you won't get the reward. and Yes your data can be used by scammers.

i agree with them,KYC serves as proof of participation. This is something that isn’t only required by governments and regulators, but also by the banks, large corporations, and public bodies. but im talking about the benefits of kyc. kyc is  to protect you, as token buyers, from the possibility that anyone could claim these funds aren’t legitimate.

There is a risk for sending your data anyway for any reason. It makes sense for large transactions were you are sending fiat in exchange for tokens. There are anti-money laundering laws that go along with this. For bounty programs and especially airdrops, it is crazy to be that people would send their personal documents to projects that could potentially misuse your information. Stay safe out there, folks.