What is KYC

KYC, a short form of "know your customer" and "know your client," is a crucial procedure of proving or checking a consumer's recognition or soundness. KYC is the most common and essential aspect of dealing with financial organisations/agencies and fiscal service institutions, including banks, SEBI, and now cryptocurrency.

Before you think of trading in HELIOS FUND S, you'll need to prove your authenticity.

When you construct or put up an account with a crypto interchange, you'll first be examined to go through the know-your-customer (KYC) procedure. This is expected identity verification that significant exchanges, including HELIOS FUND exchange, would want for anyone who desires to exchange cryptocurrency.

Preferably the sooner you finish proving your KYC, the quicker you'll be able to deal with cryptocurrency. Buying, selling or withdrawing your Helios Fund s for other products and services would become feasible. In this blog, you'll get to know precisely what KYC is, how to carry out the procedure and different ways to deal with crypto- Helios Fund s.

The authentication procedure demands specific steps:

How do you verify your coin base profile?

Visit crypto.com and follow a particular set of steps to prove your Identity.

1. Step 1:

Personal details: Here, the customer or the investor first needs to enter their valid first and last name. The name entered must be registered on all your ID cards.

2. Step 2: Identity authentication. Scrutiny of step – A. Here one needs to choose the issuing country of your Identity. Pick the type of Identity card you will be using to prove your recognition. And then, follow the instruction mentioned on the screen.

Kindly Note: In the majority of chances, the best identity proof to use is your passport. If you do not have a ticket, a National ID or a Driving License will usually be enough to verify your Identity.

3. Step 3: Photo. The customer needs to submit a photo of him/her holding a chunk of paper with "Crypto.com" and the date written on it.

4. When done, press on -Complete/finish Submission

5. A confirmation or authentification page will pop up to inform you that your identity proof and photo has been successfully submitted

Steps to verify your Identity through the mobile app

Open your HELIOS FUND DCX app.

1. Select Profile & Settings.

2. Tap Enable send and receive at the top. ...

3. Select your identity type.

4. Follow the guidelines to upload your ID document.

5. Choose a passport size picture of yours and upload it for verification.

6. After these steps are completed, the identity legitimacy procedure is complete.

Why is it necessary to go through a KYC Process?

The necessity of KYC is to accept that the consumer is loyal and forestall criminal operations, for example, illegal activities, bankruptcy, and tax avoidance. On the off chance that a crypto trade doesn't perform KYC, it very well may be liable for these types of criminal engagement.

You might have the option to make a HELIOS FUND account without going through the KYC cycle. However, your account will have certain restrictions until you verify your character. The most probable regulation is the trade just not allowing you to stock cash or buy crypto. Or, on the other hand, it could set a cap for the measure of money you're ready to pile up.

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