What is KYC and How Do I Do It?

There are a plethora of acronyms when it comes to initial coin offerings — or ICOs. KYC is just one of them, and today we are going to break it down for you: why you need to go through a KYC and how you can do it easily for AMO.

One of the biggest criticisms of an ICO is that there are no universal regulations or legislations to protect both buyers and sellers from fraud or mishandling. This is where KYC or Know Your Customer steps in. You have probably seen this acronym in ICO circles as you prepare to participate in sales of cryptocurrencies. KYC is a process the customer goes through to identify themselves so that we (AMO) can also verify the buyer’s identity, making sure that sales will be legitimate. In turn, KYC also ensures that your AMO buying process is streamlined with no errors, scams, or other issues.

KYC isn’t a universal platform — it’s simply a process. Therefore, KYC is different for every company. For AMO, the KYC process has been made simple (but secure!) on our website. You will be able to create an account to participate in the AMO KYC through our official website starting from May 28.

Once you register and sign in, you’ll be sent to the KYC page:

The process is quite straightforward. After filling out some information about yourself (again, kept secure in our encrypted database, so there’s no need to worry), you can move on to providing some identification. There are two separate images we need for this step.

The first step is to provide a scan of your ID — this can be your passport, a driver’s license, or other government-issued ID. The image of your ID should also have a note with the date of submission and “AMO Coin ICO” written in writing. Then, to prove that you are the holder of this piece of ID, we’ll need a picture of you holding up your ID near your face, also with a note stating the date and “AMO Coin ICO.” Please refer to the example images below.

Please note:

1. You must hide your unique identification number on your ID when submitting the images. Please use tape to cover your driving license number, your passport number, and any sensitive information in your national identification number (digits other than your date of birth).
2. The following information must be clearly visible: name, sex, nationality, passport validity, and photo. (We’ve covered these in our example image to protect the privacy of our AMO team member.)
3. Both photos must include a note with the date of submission and “AMO Coin ICO” written in writing.

Once you check all the requirements and press submit, your KYC submission process is completed and you simply need to wait for validation! Because all KYC submissions are validated manually (not automated), we ask that you wait at most 24 hours for validation. You’ll get a confirmation from us through your email that your KYC is set and that you’re ready for the sale.

For more questions about this process, feel free to contact us at ico@amo.foundation or send us a message on any of our social media channels.

Pre-Sales (20% Bonus)

• KYC begins — May 28–09:00 KST

Crowd Sale

• KYC begins — June 18–09:00 KST

AMO is a blockchain infrastructure for the efficient exchange and sharing of all car data powering the next generation of automobiles.

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