Financial institutions, including crypto platforms like Ka.app, are legally required to develop a Know Your Customer (KYC) process to prevent money laundering, fraud, financial terrorism, and other illegal activities.
Let’s discuss KYC on Ka.app to learn more about the deposit, withdrawal, and transfer considerations on the platform.
Why Is KYC Important?
KYC checks are crucial for compliance, risk mitigation, privacy, and overall security of a platform and its users. It allows us to verify the identity of our users, confirm their validity to use our services, and analyse their risk profiles. At the same time, it protects you against account takeovers, unauthorised transactions and prevents security breaches that may result in financial losses.
KYC on Ka.app
Important Notes
- There are no transaction limits with Ka.app. However, our team may still review large transactions. If a transaction is deemed suspicious, we may put your transaction or funds on hold, and/or ask you to provide documents that will support the validity of the transaction.
- No transaction will be allowed in restricted countries.
How to Unlock KYC Upon Signing Up
- Provide your name
- Provide your email address and verify
- Be 18 years old and above
- Provide your country/jurisdiction
- Provide valid proof of identity document
- Provide a valid proof of address document
- Accept the Terms & Conditions
- Take a selfie to verify your identity
- Complete the questionnaire
Accepted Proof of Identification
- Driving license
- Identity card
- Passport
Accepted Proof of Address
- Bank statement
- Credit card statement
- Driving license (if it contains your address)
- Electricity bill
- Employer’s certificate for proof of residence
- Gas or water bill
- House purchase deed
- Identity card (if it contains your address)
- Internet bill
- Lease agreement with your (the tenant) and the landlord’s signatures
- Letter from a public servant, a recognized public authority, or any government-issued correspondence
- Passport (if it contains your address)
- Any other utility bill linked to your property
The Bottom Line
Thorough KYC checks are not just crucial for regulatory compliance. They also protect your account against unauthorised access, as well as make it easier for us to verify transactions or make resolutions in case of dispute.
Recognising that higher transactions pose higher risks, we've implemented KYC on Ka.app to mitigate them. KYC has requirements to safeguard the security of your funds and our institution.
FAQ
How long does a KYC check take on Ka.app?
The processing time for KYC checks can take a few minutes to several days. It usually varies due to several factors such as the quality of the documents/requirements you submitted and the volume of requests.
Is my personal information safe during the KYC process?
Yes. We employ strict security measures and follow best practices to protect your personal information.
I failed KYC. What can I do?
A KYC check may fail for several reasons. The most common ones include providing an invalid/expired ID or proof of address, mismatched information, and country restrictions. If you fail KYC on Ka.app, please check the reason of failure and make the necessary adjustments, or reach out to our customer support for assistance.
Do all crypto platforms have similar KYC requirements?
No, KYC requirements may vary between platforms. Some may have more stringent requirements than others, depending on their jurisdiction and regulatory compliance.
