Any reputable cryptocurrency platform offering services relating to buying and selling cryptocurrency will need you to complete a KYC verification process. This process, also known as Know Your Customer, involves the user verifying their identity. How does Oobit use my ID? KYC is used to ensure that you are who you say you are and that no fraudulent or financial crime activities can take place through our services.
Here at Oobit, we’ve refined the KYC process so that all you need to do is upload a picture of your government-issued ID (or driver’s licence or passport) and use our facial liveness detection and Optical Character Recognition (OCR) to verify the rest. This AI-led technology helps to speeden up the process on the user’s end, while also producing more accurate results in a shorter space of time.
We also offer an Oobit KYC Pass, where once verified on our platform, users can use the KYC verification on other complying platforms.
When wondering how does Oobit use my ID, the answer is to verify your identity, and through very secure measures. All data is heavily encrypted and kept behind restricted access within the company. We will never sell or distribute your personal information to third parties, and keep the information on file strictly to adhere to regulations.
Find our Privacy and Legal policies here.