Rapid user growth in crypto exchanges calls for immediate action. Lawmakers worldwide started to tighten their requirements and regulations regarding crypto exchanges and other crypto platforms. Choosing a KYC solution provider that will “tick all the boxes” and ensure compliance, security, and excellent customer experience doesn’t have to be complicated. Fully-Verified offers a range of video-based identity verification solutions to meet your needs.
Stay compliant with global legal requirements and regulation
Stop money laundering, financial crimes, and scams – create a safe platform by eliminating bad actors
Offer straight-to-the-point, customer-centric identity verification – ensure the process is quick, easy, and can be done anytime, from anywhere in the world
Establish a community of verified users – the key to building trust and transparency between users, as well as users and your platform
KYC for crypto platforms can bring several benefits for both the users and the business owners. In the age of the digital revolution and growing interest in crypto trading and investing, choosing the right identity verification provider is the key. Fully-Verified offers a range of services that will help you bring the most out of those benefits while creating a secure identity verification experience.
Identity verification solutions for crypto platforms by Fully-Verified are made of AI (Artificial Intelligence), machine learning, biometric technology, and human intelligence. This combination allows each process to create the most secure and fraud-proof solutions. Auto-Verify by Fully-Verified is a solution that provides a seamless experience for crypto users, allowing them to complete the verification check within minutes, hassle-free.
Onboarding of new users is quick and simple, but fully secure
Eliminates the risk of identity theft and forgery thanks to thorough checks
The verification can be performed by anyone regardless of location
Live-Verify is a process consisting of a live video call with a highly trained operator. During the check, the operator can conduct an interview and perform additional steps and checks requested by the client. The process can be customized to meet your needs and fulfill any legal requirements.
The process can be customized to meet even the strictest compliance standards
Removes the possibility of fraud attempts thanks to thorough checks by trained verification specialists backed by AI
All data is gathered, processed, and stored securely with no paperwork involved
Establish your client's domicile and tie them to a specific location
Avoid providing services to clients associated with money laundering, fraud, or terrorism financing
Fully-Verified allows full customization of identity verification processes to meet your needs and fulfill any international legal requirements. The process is fully digital, which means that your customers’ information is gathered, processed, and stored securely with no hassle of paperwork involved. Let’s get in touch to discuss your expectations and create a perfect KYC strategy and choose the perfect identity verification solution for your crypto business.
Swiftly integrate our identity verification solutions via API into your platform. Take comfort in access to data and gather results instantly
Just attach a link to our service to your platform. Relieve the costs and let your users fill out the form embedded in your business ecosystem.
Blend our native tech stack solutions to your iOS or Android app and achieve a frictionless onboarding experience.
Easy to navigate cloud-based software available in two options:
combine the service with expertise from our trained verification specialists
operate on our convenient software backed with our guidance
Easy access to verification data package to speed up the onboarding process:
Get the details automatically through API
Gain manual access from the customer board
Crypto exchanges are digital marketplaces that make it possible to buy and sell crypto. Contrary to stock trading, you cannot buy cryptocurrencies through your bank or an investment firm. To get Ethereum, Bitcoin, or any other cryptocurrency available on the market, crypto exchanges are the place to look at.
Numbers of users and money involved in the cryptocurrency trading business are constantly growing. According to CoinGecko, The total crypto market has grown over 600% from $397 billion as of November 3, 2020, to $2.8 trillion on November 2, 2021.
At the same time, it is also estimated that in that same year, over 1.6 billion dollars worth of crypto was used to commit identity fraud, money laundering and other financial and cybercrimes.
KYC stands for Know Your Customer. A KYC process is considered an initial due diligence stage of AML (anti-money laundering) procedures. When an institution onboards a new customer or a user, their identity is verified by the platform, in order to confirm their identity and assess risk value.
What information is actually required from customers and the way the information is gathered, processed and verified, is often dictated by the regulations for specific industries.
Proper KYC for cryptocurrency exchanges enhances safety for both parties involved – traders and trading platforms. It also ensures that the services are used accordingly and for legitimate reasons. Not only is it a foundation of compliance with regulations and laws, but it eliminates the risk of money laundering and other financial crimes committed through cryptocurrency trading.
To show why proper KYC procedures are beneficial for cryptocurrency exchanges and their users globally, it is good to take a look at other financial institutions and industries. Although the expectations regarding KYC for crypto exchanges can differ, the goal stays the same for everyone – ensuring the safety, transparency and fair trading of crypto assets and cryptocurrencies.
It is one of the most important factors for KYC exchanges, especially on peer-to-peer crypto trading platforms, where users trade between each other.
KYC processes and proper identity verification of users enables exchange platforms to evaluate the risk level for each customer and recognize potential threats and oversee certain groups of customers more effectively.
Risk assessment of individual customers is one of the most important parts of bringing safety to any platform and its users. This way, cryptocurrency exchanges can recognise potential risks and threats early and implement proper policies in order to prevent fraud, scam and financial crimes attempts.
Fully-Verified offers a range of services that ensure compliance with the strictest regulations, safety and thorough identity verification and due diligence, such as:
Identity verification solutions:
Fully-Verified was created as answer to its founders collectively losing over $150 000 to various types of fraud in their eCommerce businesses.