If You Used Your Passport/ID For ICO's Consider Replacing Them by kyriacos

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· @kyriacos ·
$15.72
If You Used Your Passport/ID For ICO's Consider Replacing Them
https://bedfordviewedenvalenews.co.za/wp-content/uploads/sites/22/2017/05/maxresdefault-1.jpg
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It is customary now for many ICO's (Initial Coin Offerings) to require KYC (Know Your Customer) documentation. Most of the time a government ID or a passport will suffice. What happens though when the person managing your documentation sells them to the next bider? How would you know if your passport if not used for some kind of dodgy activity? Most of the ICO's (if not all) are scams anyways. 

I am considering by the end of Q2 to replace all my ID's and passports with new so that (at least) the issuing numbers will be different. This way if my identity is compromised, it will be harder to be used maliciously. It might be a bit pain in the ass but better safe than sorry. 

Ofcourse the best course of action for these kind of things is to avoid giving personal identification documents. Nonetheless, in this time and age these things are rather inevitable. Some have even considered creating false identities just to take part in ICOs. Others have taken their own id's and altered them slidely such as using another photo or registration number. 

Whatever you do just make sure that it won't come back and bite you in the ass. It is the wild west out there but regulation is just another the corner. Let's hope that our ID's won't be used against us for taking part in scammy ICOs.

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πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 15 others
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vote details (79)
@anonimnotoriu · (edited)
Good point @kyriacos. That's why I refuse to participate in any ICO that requires me to upload any kind of documents. Seeing how [46% of last year's ICO's have already failed](https://news.bitcoin.com/46-last-years-icos-failed-already/), I'm not going to trade this kind of data for potential financial gains.

This was a bummer a couple of times when I wanted to take part in some ICO's that required this sorta KYC, but that's life. If I really want to buy a token from an ICO like that then I wait until it's listed on the first exchange. Win some, loose some.
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@mikenevitt ·
$0.16
It’s bloody terrible that good people have to go to these lengths because of a few bastards, cheers mike
πŸ‘  
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@phgnomo ·
I dont think It is the most clever Idea to provide your id documents to a website Just because they Said they Will give you money... Even worst If you pay for It.
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@kevinwong ·
Good reminder brother. Definitely gonna do it around the same time as you.
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