Let’s learn more about KYC’s benefits and learn why all users need to complete the KYC process on BullPerks. KYC is the abbreviation for “know your customer,” a process requiring identification of the customer and due diligence that allows companies to mitigate financial crime risks. The term generally refers to banks and other financial institutions but can also be used by crypto platforms, exchanges and companies operating in the blockchain space. The objective of KYC is to prevent financial companies from being involved in money laundering, terrorist financing, corruption, and other illegal activities.
To complete KYC, financial institutions and crypto platforms require customers to provide certain personal information, which is then verified against official databases. This helps institutions get a better understanding of their customers’ risk profiles.
What Are the Benefits of Crypto KYC?
The benefits of Crypto KYC can be summed up in three points: preventing financial crime, protecting customers, and building trust.
By completing the KYC process, customers can be assured that their identity is protected and they are doing business with a legitimate company. It helps to build trust in the crypto space and encourages more people to participate in the digital economy.
KYC also helps prevent financial crime. By verifying the identity of clients and collecting information about their risk profiles, companies can better assess whether a client is suitable for using their services. This in turn helps reduce the risk of fraud, corruption and money laundering.
In sum, Crypto KYC provides several advantages for both businesses and customers alike. It builds trust, prevents financial crime, and protects customers’ identities, making the crypto space safer for all involved.
Why do you need to complete KYC on BullPerks?
BullPerks is committed to compliance with all KYC and AML regulations. Completing the KYC process on our platform is mandatory for all users and helps us protect our community from financial crime. It helps us mitigate the potential risks of fraud, corruption, and money laundering.
How to Complete the KYC Process on BullPerks?
N.B. It is not possible to complete the KYC procedure in the prohibited jurisdictions: Albania, Barbados, Botswana, Cambodia, China, Democratic People’s Republic of Korea, Ethiopia, Ghana, Iran, Jamaica, Mauritius, Myanmar, Nicaragua, Pakistan, Panama, Seychelles, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Uganda, United States, Yemen, Zimbabwe.
Before you can join any of our deals, you must verify your identity. This is done for security reasons and to comply with international Know-Your-Customer and Anti-money laundering regulations.
To learn how to complete KYC, please check our step-by-step tutorial in the help center, as well as the explanatory video below.
BullPerks is the fairest and most community-dedicated decentralized VC and multichain launchpad. Unleashing the power of the blockchain and a decentralized venture fundraising model, BullPerks offers tremendous opportunities to everyone willing to invest in the best crypto projects on equal terms with VCs. The platform is fully oriented toward the community and provides low entry and access to early-stage projects for users. With its new self-regulation policy for a safe IDO launch, BullPerks is establishing new standards of professionalism and accountability in the space.