What is KYC and why should I go through this process?
“Know Your Customer" (KYC) is a crucial process which financial institutions, like us, need to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship. The aim of KYC is not only to comply with regulatory requirements but also to protect both the institution and its customers from fraudulent activities, money laundering, and other illegal transactions.
Why should I go through this process?
Via your Axon account you can benefit from deFi services such as lend, borrow or swap. However, if you wish to purchase, deposit to Aave or sell crypto coins with/to fiat currency, you must have successfully completed the KYC verification first.
What will I have to provide?
During the process, you’ll need to provide the following details:
National ID, Driving license or Passport
Proof of Address - for uploading PoA document, please keep in mind it has to cover the following criterias:
- issued within the past 90 days
- must be issued under your name
- accepted proof of address can be - utility bill, bank statement, government issued document
- the name, address, type of document and timestamp must be clearly visible
- you can cover sensitive information (card number, social security number, etc.), but all four corners of the document must be capturedLive photo - While taking the photo, hold the camera steady (this process uses video and photo camera), without turning your head. Try to remain still as much as possible – it won’t take long!
Questionnaire - just few questions we need to collect the answers of, before proceeding with the verification of your account
How should I provide this information?
Keep in mind that this process is initiated and completed exclusively through the Axon app. Please, do not send us via email or chat any personal information we did not request explicitly (photos, scans, pdf files, etc).
What happens to the provided personal information?
Please refer to our Privacy policy for details.