Cryptocurrency Master Everything You Need To Know About Cryptocurrency and Bitcoin Trading, NFTs...

Chapter Four: How to get started Know Your Customer Protocol Verification is a great challenge all over, and the digital world is not an exception.

Companies take strict measures to scrutinize and verify the identity of their clients and at the same time, customers are becoming more cautious and sensitive with most companies, especially when it comes to giving out their information, which is sensitive, or when investing with a given company. In the cryptocurrency world, various regulators in various countries across the globe are becoming more interested with ICOs and this has brought a lot of uncertainty to both those who are offering the ICOs and those who are willing to invest in them.

There are many reasons why one should opt to invest in ICOs and this ranges from the speculation that the value of the coin will rise to the belief of high utilityfor a new piece of crypto. Unfortunately, lack of regulation in the crypto space means that anyone willing to invest in a given project always feel they are risking being treated like money launderers. Because, most of the time, legislation may be unclear or absent, know your customer (KYC) is a broadly used concept in the finance world globally.

Currently, the regulation of ICOs is based on KYC and this has turned out to be a necessity to ensure that potential investors can legally and willingly participate in the ICO investment. This is mainly because scamming activities have been spotted and the KYC-related policies and issues that have been implemented within the financial institutions have been incorporated into the ICO sector.