When wanting to buy or sell cryptocurrency online, most reputable platforms will ask that you complete a KYC (Know Your Customer) process. Many countries have put into place these regulations to help combat money laundering, terrorist funding, and other criminal activities. The KYC process is universal and ensures that all parties are who they say they are. Let’s uncover how to pass KYC on Oobit.
Here at Oobit we wanted to ensure a smooth KYC process and have implemented cutting-edge technology to do so. We use facial liveness detection and Optical Character Recognition (OCR) to make the process faster and easier, as well as strong encryption to ensure the privacy of all user data is secure at all times. We have also incorporated the Oobit Pass into our platform, allowing users to use the same certified KYC done on our platform, across several others.
How to pass identity verification (KYC)
You’ll need to register an account if you haven’t done so already. From here, keep your KYC documents (identification documents) handy and let’s dive in!
First you’ll need to verify your email address with a code sent directly to your inbox. Once you’ve entered the code, you’ll need to fill in your first and last name, as well as date of birth. Note: these need to be as per your identity document/passport.
After that you’ll need to enter your phone number, to which a verification code will be sent. You have one minute to enter the code and verify your number before the code expires.
Once you’re in, click on the drop down option next to your profile picture in the upper left corner and select Settings. Next, select Identity Verification in the left hand menu (as per below) and click on Get Started.
In completing Level 1 KYC you’ll need to have your government ID or passport nearby. The first step will be to complete the form with all the information, Oobit has filled in what you have already shared to make the process more efficient.
Here you’ll need your identification document. You’re given an option of uploading images of your passport, driver’s licence or Identity card. Select your preferred option and upload the photos, ensuring that all the pointers are followed.
You’ll need to submit a photo of yourself for the system to match to the identity document you provided. Don’t worry, this is integrated into the process, so all you need to do is allow Oobit access to your camera and you can take the photo with your device (should it not have a camera you will need to upload a photo).
When returning to the original Identity Verification section in your settings, you will find a green box indicating that you are verified for Level 1 of KYC.
Verified identity verification
Now that you’ve completed Level 1 of the KYC process you are able to dive into the wonderful world of cryptocurrency with Oobit. That concludes our guide on how to pass KYC, if you’d like some extra tips, head to this helpful guide.