In today's world, where online transactions have become commonplace, ranging from money transfers and online shopping with credit cards to subscribing to various services via websites and applications, security and trustworthiness are of paramount importance.
KYC, or Know Your Customer, is a process used by businesses to accurately identify and verify the identity of their customers. This is crucial in preventing fraud, money laundering, and other illegal activities. According to statistics from the Bank of Thailand, data theft is among the top three most imminent cyber threats to Thailand.
Why is KYC (Know Your Customer) verification important?
KYC plays a vital role in building trust and confidence for both businesses and customers. Here are the main benefits:
Fraud prevention: KYC enables businesses to verify that customers are real and not fictitious, reducing the risk of fraud and scams.
Anti-money laundering: Businesses can track and verify the source of funds used in transactions, preventing the laundering of illegally obtained money.
Building trust: KYC helps businesses establish credibility and trust with customers by demonstrating their commitment to security and legal compliance.
Regulatory compliance: KYC is a legal requirement in many countries. Businesses that fail to comply with KYC regulations may face legal action and fines.
How to KYC on Bitkub NEXT?
Bitkub NEXT wallet is designed for users to easily access various functions, such as transferring digital assets, connecting to dApps, and other functions. You can sign up for a Bitkub NEXT account with just your mobile phone number.
Easy Bitkub NEXT identity verification in 4 steps:
Go to app.bitkubnext.com and click the "Verify Identity" button.
Select the account type as "Personal Account."
Upload the required documents and complete the facial scan.
Once all steps are completed, the system will display the message "Verifying."
If your information is approved, the system will display the message "Identity verification successful."
Accessing functions on Bitkub NEXT and Bitkub NFT based on verification level
Bitkub NEXT is equipped with a KYC feature that will enhance the security of your information.
Your verification level will determine the access rights to various functions on Bitkub NEXT and Bitkub NFT. You can see the details as follows:
Bitkub NEXT Accessible
Bitkub NFT Accessible
Note: The level of identity verification will determine the access rights to various functions on Bitkub NEXT and Bitkub NFT. This will take effect in the future, and the schedule for each item will be announced later.
Summary
KYC plays a crucial role in:
Fraud prevention
Anti-money laundering
Building trust
Regulatory compliance
After you sign up for a Bitkub NEXT account, you can verify your identity by following the 5 steps above.
In addition, KYC verification on Bitkub NEXT allows you to fully utilize features on Bitkub Chain dApps, including Bitkub NEXT and Bitkub NFT.
If you are ready to be a part of the significant transformation in the crypto and blockchain world of Thailand, don't hesitate to start using Bitkub NEXT today. Experience new and exciting things and access technology developed by Thais, for Thais.