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A Secure KYC Solution For Crypto Exchanges & Wallets

The cryptocurrency industry has evolved tremendously in recent years, especially largely due to new technology advancements and innovations in the industry. As modern investors are planning to invest a larger percentage of their capital in crypto, every new and old crypto exchange requires a secure, fast and easy KYC solution for their users.

A robust and secure AML and KYC procedures are required by crypto wallets and de-fi platforms to keep money laundering and terrorist funding at bay. IDnow KYC platform offers agent-assisted AI-powered identity verification solutions and video identification solutions to crypto exchanges to secure their platform and protect users’ money.

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How Can a Secure AML and KYC Solution Help the Crypto Industry?

Whether it is a local or online bank, a crypto exchange, a financial or crypto wallet or any financial institute that involves financial transactions and investments, criminals are everywhere. Users have to be careful while sharing their sensitive KYC information anywhere on the internet. These pieces of information can include passport details, bank and credit card information and other crucial government identity information that can be sold for millions of dollars if hackers and cybercriminals get hold of it.

Crypto service providers like traditional financial services, have to strictly adhere to the AMLD5 or the fifth Anti-Money Laundering Directive laid down by the EU.

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For all crypto service providers, an AML and KYC program is necessary to protect themselves from financial crimes and bankruptcy.

Secure KYC Solution Builds Customer’s Confidence

A KYC program roots out criminals and keeps scam artists, fraudsters and money launderers away from crypto exchanges making the platform safer and secure for its users.

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If users lose their money due to illegal activities on an exchange or wallet, they will never recommend such platforms to their peers and ask them to protect their money or fall victims from trading scams.

Exchanges using the IDnow KYC platform for KYC solutions, users can confidently trade and invest their money into crypto without fear.

KYC Reduces the Threat of Financial Crimes

Every year more than $4 billion is laundered from crypto exchanges. Crypto service providers, especially crypto wallets and exchange systems can be protected with a secure KYC program that could identify hackers before they entered.

IDnow KYC platform can be their best friend that offers an AML-compliant video identification solution to the crypto service providers to keep hackers and criminals away.

Higher Conversion Rates to Exchanges

With a seamless, secure and fast KYC solution, crypto exchanges and wallets can increase their conversion rates because they look after customer concerns.

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