1. zondacrypto
  2. zondacrypto exchange
  3. Identity verification (KYC)
  4. What is the "KYC" customer identity verification procedure?

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What is the "KYC" customer identity verification procedure?

KYC (Know Your Customer) is the process by which an institution or an organization verifies customer's information. It is done to confirm the customer's identity, understand the profile and risks. The procedure is mainly used in the financial sector to prevent money laundering, terrorist financing and other criminal activities by identifying customers and monitoring their transactions. 

To verify identity, institutions often require the customer to present an identity document such as an ID card or passport, a "selfie" photo and an address document proving residence, such as a utility bill or bank statement.  This information helps organizations confirm a customer's identity and prevent fraud.

 

Verify your account to deposit and withdraw funds safely

We encourage you to complete this process according to the instructions below:

  1. Complete the entire form (personal data, place of residence and AML survey). Then confirm all data. This will allow your documents to be sent for verification.

  2. If your personal information matches the document you sent us, you will receive the first level of verification. From now on, deposits of cryptocurrencies and FIAT currencies via bank transfer will be available to you.

  3. Our team will verify your details within a maximum of 96 business hours. If all data included in the form is completed correctly, your account will receive the second level of verification. This means that you will have access to the full functionality of the system – including express deposits and withdrawals from your wallet.

 

Account verification is intended to increase the security of our customers. We are a regulated exchange with an Estonian "Providing a virtual currency service" license and we are subject to Estonian regulations. All our activities result from compliance with AML (Anti-Money Laundering) regulations. This means that we are obliged to verify the identity of every person who creates an account on zondacrypto.