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.
Benefits of completing the SpectroCoin verification
Since cryptocurrencies are not regulated, verification is not required for crypto transactions. However, in order to operate with fiat and to experience the most out of SpectroCoin, it is recommended to have a fully verified SpectroCoin profile. After bitcoin account verification, SpectroCoin customers are allowed to use various payment methods such as SEPA, Skrill, Neteller and many more.
How long does it take to get verified?
The SpectroCoin verification process might take up to 24 business hours (3 business days) 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.
Are you brand new to SpectroCoin? Visit SpectroCoin Help pages for more information to help you navigate the SpectroCoin ecosystem or contact us via the “Live chat" option available on our website.