Hosted on blockchain technology and offering access to innovative new financial products and services, cryptocurrencies are disrupting financial systems in jurisdictions all over the world. Cryptocurrencies may be exchanged directly between blockchain users, or via crypto exchange platforms which facilitate transactions in both fiat and digital currencies.
In particular, crypto exchanges must address the anonymity concerns associated with cryptocurrency transactions by implementing suitable Know Your Customer (KYC) processes in order to understand who their customers are, and how they are using their services.
With the launching of KYC, FMCPAY Exchange has already taken a giant stride forward and also solidified FMCPAY Exchange’s position in the cryptocurrency markets. It is beneficial in terms of rapidly increasing platform influence and user credibility.
What is FMCPAY?
FMCPay is a cryptocurrency exchange that is licensed in the United States and facilitates trading activities for users. By inking a license in the United States, the exchange has surmounted one of the greatest hurdles digital currency trading startups face as the US is one of the regions with the strictest regulations. This milestone resounds with the legitimacy of FMCPay and the safety of users who choose to trade on the exchange. That is why FMCPAY is the world’s most trusted platform for trading cryptocurrencies, digital securities registered in the USA.
- Centralized Platform
- Future Investment
- Blockchain 2.0 technology
For those who are interested in joining the FMCPAY Community, we are excited to present a new KYC framework.
KYC, or identity verification, is required by major cryptocurrency exchanges throughout the world, just like it is by other financial institutions, in order for consumers to have ongoing access to their services.
Importance and Benefits of KYC
- Helps lenders perform risk assessment by identifying the previous financial history and assets owned
- Limits fraud that result mainly due to hiding of identity
- Prevents money laundering and other anti-social activities
KYC Documents Required
The KYC process is carried out for both individuals and organizations. KYC authentication is based on verification of identity and place of residence. The documents required for the KYC process for individuals include the usual documents that individuals generally use, such as:
- Driver’s license
- Valid ID card
- Passport
- Utility bills with your home address
For proof of residence, the following documents can be furnished:
- Utility bills, such as telephone, electricity, gas, etc.
- Bank statements
- Employment documents
- Housing contracts and rent agreements
Users who complete KYC (Identity Verification) will be able to upgrade their accounts and enjoy lower transaction fees and higher withdrawal limits.
Join with us:
Websites: https://fmcpay.com/
Telegram: https://t.me/FMCPAYGlobalChat
Twitter: https://twitter.com/FMCPay