The crypto KYC process involves the platform or an exchange verifying a user’s identity and proving that they are who they are claiming to be. So today, let’s learn more about Crypto KYC’s benefits and why all users need to complete the KYC process on GamesPad. Let’s start!
KYC stands for “Know Your Customer.” It is a process by which a business identifies and verifies the identity of its customers. The purpose of KYC is to prevent fraud and money laundering. By verifying the identity of its customers, a business can be confident that it is doing business with legitimate individuals. When completing KYC on GamesPad, you’ll be asked to provide some data, but it won’t take much time.
So now that you know more about KYC and why you need to complete it on GamesPad, let’s take a look at some of its benefits.
There are several benefits of completing crypto KYC, including:
By completing KYC, users can enjoy increased security when conducting transactions on crypto platforms and exchanges. This is because KYC helps to verify users’ identities and prevent fraudsters from using cryptocurrencies for illegal activities.
Crypto KYC also helps crypto platforms and exchanges comply with government regulations surrounding AML/CTF (anti-money laundering/combating the financing of terrorism). Complying with these regulations is essential for any business operating in the crypto space.
GamesPad is dedicated to ensuring that all users follow the law and conduct legitimate transactions. To do this, we require all users to complete KYC. This process helps us verify the identity of our users and ensures that they are who they say they are. It also helps prevent fraud and money laundering.
Before you can join any of our deals, you must verify your identity. To learn how to complete KYC, please check our step-by-step tutorial in the help center, as well as the explanatory video below.
Is your KYC taking too long? Go here for more information.
N.B. It is not possible to complete the KYC procedure in the prohibited jurisdictions: Albania, Barbados, Botswana, Cambodia, China, Democratic People’s Republic of Korea, Ethiopia, Ghana, Iran, Jamaica, Mauritius, Myanmar, Nicaragua, Pakistan, Panama, Seychelles, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Uganda, United States, Yemen, Zimbabwe.
GamesPad is a holistic gaming, NFT and metaverse ecosystem. It is a one-stop shop for everything GameFi, metaverse and NFT that brings together a gaming incubator, game-specific multichain launchpad, decentralized venture capital, NFT marketplace, in-house gaming and production studios, and much more. GamesPad is the culmination of years of expertise, research, and passion of the professional team committed to propelling blockchain gaming to the mainstream.