There is one thing I have realized from my experience with KYC for bounties. Almost all the projects I have provided my personal information to them failed to even get listed on exchanges and the project dies off. Surprisingly, those that didn't require KYC paid me and the project is truly developing. My point is, am beginning to think those project requesting hunters to go through KYC are just in for their information to trade and do not have any intentions to develop their crypto project so let's be vigilant about whom we carelessly give our details to, for some peanuts...May God bless our hustle
Yes, at a glance that KYC is indeed dangerous for our personal data. Because our personal data is related to the country. If this is used by irresponsible people, then they will leak data in one country. But the problem is that it is difficult for us to compare projects that only use our data for business purposes. Some exchanges really do maintain data well. I don't think this will be a problem.
KYC verification should only be necessary for large transaction amounts. On June 21 last year, the FATF adopted binding recommendations according to which only persons sending and receiving transactions worth more than one thousand euros should pass the KYC inspection. As for exchanges and exchangers, here we are not going anywhere. This will need to be observed, and in this case, although there is a risk, it is not as great as when we participated in ICO bounty campaigns. ICO project teams continue to demand from us the passage of KYC, sending us tokens most often for several tens or hundreds of dollars. Its time to raise the issue that ICO teams do not have the right to try KYC from us if they send us their tokens in the amount of less than one thousand euros, even if we take the price of ICO as a basis.