~ snip ~
Also there is chance hack of database. Imagine, if hacked database with KYC details than what happen? Hacker could use KYC details elsewhere. So obviously KYC is a danger system.
Just one example:
https://thenextweb.com/hardfork/2018/02/07/sentinel-chain-ico-leak-passport/~ snip ~
Before submit your KYC must know about their background. Some website we can trust like bittrex. But it doesn't mean we should trust all over ICO. Can some one explain why it is necessary to submit KYC for airdrop or get bounty stake? I don't think so it's necesarry. All crypto transactions are anonymous. So why I need to verify KYC.
I'm not sure about how secure Bittrex though so I can't say if we can trust them as well.
In my opinion investors should ask KYC for ICO team. Because investors are investing their hard work money. Team should prove themselves they are real. May be team will explain to avoid multiple account they are asking for KYC. I am not agree with that. I can create multiple account even with KYC. I have family member and friends so I can used their identy to verify KYC. So it's not appropriate reasone to ask for KYC.
Be careful before submit your KYC on any ICO website. It might be harmful for you once.
I agree, I just wouldn't trust any ICO specially at this moment. We really don't know who to trust. You're taking a big risk if you are willing to submit your personal data. We all know what's going to happen if our information is leaked outside. Any criminals will exploit and once our identity is stolen.
@oneblagobl - I think KYC is inevitable specially if you are going to exchange crypto to fiat. But if you are not comfortable then by all means don't do it. You can find services not doing any KYC but then again most probably they are unregulated so there is a big risk factor as well.