Doing Your KYC Right the First Time: Tips on Getting Your KYC Completed and Approved
We can’t emphasize enough the importance of successfully completing your KYC. It’s a step that every single member of The CryptalDash Exchange has to go through before he or she can trade and withdraw at the Exchange.
With useful and practical tips, we will show you how to do your KYC right the first time.
KYC: A Legal Process for The CryptalDash Exchange Members
The KYC is a legal procedure that exchanges like The CryptalDash Exchange, banks, and other financial institutions ask their customers to do. It’s a standard operating procedure meant to safeguard against money laundering and similar crimes.
In our case, we are doing the KYC from June 20 to July 18 and are asking the members to provide:
- Contact no.
- Supporting documents
- Duly-signed KYC form
We will verify the information supplied on the Exchange account with that on the documents submitted by each Exchange member.
How to Ace Your KYC Application
You will be asked to upload a selfie with you holding your main ID and then another photo of your secondary ID.
First off, take your photo in a well-lit area so that BOTH your face and the details on the main ID are clear and readable. This makes double-checking the info on the ID with that on your account information easier.
Hold the ID such that it won’t cover a portion of your face and important information on the ID. For example, your hand should not cover the passport/ID number, etc.
2. VALIDITY OF IDs
When attaching IDs, make sure they are valid. Expired IDs will not be accepted.
3. PROOF OF BILLING
Three things to look out for when attaching your proof of billing:
- The bill must not be older than three months.
- Upload the full page of the bill where a) the biller/service provider, b) name, and c) address are visible and readable.
- Accepted types of bills are utilities — electric, water, gas; cable subscription; phone; internet; credit card; etc.
- Alternative documents: bank statement, bank certification, authorization letter from landlords/parents. The important thing is for these docs to show your residence address.
4. KYC FORM
The KYC Form is a one-page declaration that requires your (i) name, (ii) email, (iii) signature, and (iv) date. All this information must be clearly visible and readable.
Make sure to add a clear signature. You can do this by scanning your signature or taking a picture of it with a white background and add it to the form.
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Please double check your spelling and all information provided in the KYC application. Your records might not match and this could lead to rejection.
Also, make sure all your attachments are VALID, CLEAR, READABLE. They should also be uploaded to their proper section. For example, IDs should go to fields for the main and secondary IDs then proof of billing and KYC Form should go to their designated fields.
PROOFREAD, go over your application as many times as you want, and make sure everything is correct and every document properly uploaded.
Any questions on the KYC, contact firstname.lastname@example.org.