With proliferation that continues to increase from Cryptocurrency assets and coins such as Bitcoin and Eters, there is no better time to enter the world of interesting cryptocurrency. But wait, before you can start trading and become a Crypto Power user, you need to learn the process of knowing your customers (KYC).
With proliferation that continues to increase from Cryptocurrency assets and coins such as Bitcoin and Eters, there is no better time to enter the world of interesting cryptocurrency. But wait, before you can start trading and become a Crypto Power user, you need to learn the process of knowing your customers (KYC).
Crypto exchanges such as Zebpay from the beginning adopted a strict KYC strategy to ensure the security of real investor funds. Furthermore, simple KYC authentication processes on Crypto exchanges as other places.
There are only a few things to remember when completing the KYC process when using Crypto exchange. We take Zebpay as an example in this article because the KYC process is standard in most exchanges.
Step 1 – Send your document
After opening an account at the Crypto Exchange, you must send the following documents to verify your KYC:
1 – PAN card and
2- Address of evidence.
Proof of addresses must usually be documents from your Aadhaar card or passport or SIM or utility bills from the last three months. Stronger crypto exchange, like Zebpay, also requires checks or bank reports to verify your account.
Step 2 – steps that must be taken
After you are ready to upload your document, follow these simple steps.
1- Go to the Settings page and find your Exchange Crypto confirm identity or complete KYC tab.
2- From there, you need to upload your ID evidence to start. You can upload your PAN card details from your mobile gallery or use your mobile camera to take your PAN card image during this step.
3 – After that the proof of your address will be uploaded. To do this, select the type of identification that you will upload, whether it’s your Aadhaar card, SIM, passport or utility bill.
4 – Be sure to upload all the photos needed according to the type of document. For example, if you upload your Aadhaar card details, make sure you upload the picture in front and back of the card.
5 – Filling in KYC details is part of the process. The next step involves entering and verifying your bank details. Select the banking option from your Exchange settings page and follow the instructions to add your bank details.
6 – You may need to provide details and photos of bank checks or bank reports. Follow the procedure described above to insert your PAN card for this step too, remember your name, account number and the IFSC code are clearly visible.
And this place! There he is. Now you have to wait for your Crypto exchange to get the details of KYC and your bank approved before you start your trip in the world of interesting Cryptocurrency.
Step 3 – Why do you need KYC
KYC is a mandatory procedure when each financial transaction is involved, even outside the world of Cryptocurrency, for example, in banks and mutual funds. KYC verifies you and your details and increases the overall security of the Crypto exchange.
Basically, to make any financial transactions, it is necessary to complete your KYC first. When you have completed your KYC verification, you have provided information about your Crypto exchange, identity, address, and financial history. After your verification is complete, you can exchange your currency at the bank to buy Cryptocurrency and enter the world of interesting blockchains.
Step 4 – Minimize Risk of KYC Rejection
Now you know the importance of KYC, you need to make sure that your application is not rejected at every Crypto exchange. If you have followed the steps described above, your KYC should not have a problem but sometimes they are rejected. Follow these tips to avoid KYC’s refusal.
1- First of all, look well on your photos sent for verification. Sometimes, if they run away or unclear, Crypto Exchange will not be able to verify your document, which will produce KYC refusal.
2. Cross-Make sure the photo id is, such as a passport or license driving, has not expired, because the proof of your identity may not be valid if expired.
3 – Finally, make sure that the bank details provided are correct and if you upload checks or bank reports as supporting documents, make sure information such as your name, account number, and good IFSC details. Looks like
Completing KYC’s formalities is the first step towards a successful corrupt asset journey. This process for sure
