Why do I need to verify my account?

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Quick Answer

In order to experience the most out of SpectroCoin, a user must have a fully verified account. SpectroCoin has the responsibility to ensure that its customers’ details remain secure and, as a virtual currency service provider, it has to comply with requirements in order to prevent crimes such as identity theft, fraud, money laundering and terrorist financing.

Know Your Customer (KYC) takes an important part of financial institutions Anti Money Laundering (AML) processes and requires that customers provide detailed information to ensure that they are not involved in corruption, bribery, etc. Also, KYC guarantees that the business is done legally and with legitimate entities.

Another anti-fraud measure is the identity verification. It ensures that SpectroCoin remains in compliance with KYC/AML laws and is performed by all legally acting financial businesses. Verifying customers' identities is essential, because it helps to build mutual trust between the brand and the user, it guarantees the safety of the funds.

How long does it take to get verified?

The SpectroCoin verification process might take up to 2 business days at the longest (in most cases, a few hours) after uploading all documents to the website. In order to avoid delay, it is necessary that all documents submitted comply with the requirements. In some cases, SpectroCoin's compliance team might require supplementary documents.

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