crypto exchange - Global Intelligence Blog

Identity Verification Procedures Used By The Top 5 Crypto Exchanges

Melissa IN Team | Identity Verification, India | crypto exchange, identity verification, kyc verification, procedures

Cryptocurrency is relatively young in the financial ecosystem but it has grown rapidly. As of 2021, there were over 300 million crypto users in the world. Many businesses have started accepting cryptocurrency as payment but most investors still use cryptocurrency to build assets akin to those held in the stock markets. As acceptability rises, so does the need for cryptocurrency exchanges to protect themselves and their clients.… Read More

How To Recognize Crypto And Bitcoin Scams

Melissa AU Team | Identity Verification | bitcoin scams, crypto exchange, cryptocurrency fraud, identity verification

The concept of money is changing. It’s not all just notes and coins, you’ve probably heard of cryptocurrency and bitcoins too. This isn’t play money. Bitcoins made their debut in 2009 and in June 2021 was accepted as legal currency in El Salvador. While other countries have not yet defined it as legal tender, bitcoin transactions are permitted. There are many other forms of cryptocurrency existing as well; Etheruem, Cardano, Tether, Dogecoin, etc. Unfortunately, since it isn’t very well understood, fraudsters design many scams around cryptocurrency.

AML And KYC: The Need Of The Hour For Crypto Exchanges

Melissa IN Team | AML, KYC | AML, biometric, crypto exchange, document verification, KYC

While cryptocurrency may still be far from being accepted as legal tender in most countries, it is one of the reigning investment routes. The transparency offered and ease of investment are probably the two most important factors contributing to its popularity. But, the convenience it offers has also made it attractive for money laundering and terrorist funding. This is a global problem that has brought about the need for strong Anti-Money Laundering (AML) legislation and Know Your Customer (KYC) processes. The challenge now for crypto exchanges and wallets is to balance regulatory compliance with a smooth customer experience.