So you wouldn't have to register, but you would have to tie a bank account to it?
Hello,
Let's clarify that Katie meant the terms of "registration" and "verification" to be synonymous... Many people might consider "Registration" to mean giving out an email or signing up in order to download, etc. There is no "registration" required in order to use our wallet. The wallet download, once available, may be done anonymously or installed directly from a mobile app store (not really anonymous because the carrier knows who you are but we do not). As far as VERIFICATION, our focus on regulations abides by the most restrictive of country-specific and global policies.
So the answer is different for different people.
For instance,
every user may use the wallet's send, receive, and convert functions without registering OR being verified.
When buying or selling cryptos/tokens, the following applies:
- IF the user is a US citizen, they may be verified instantly by their US bank account and have a low, but reasonable, limit
- IF the user is a non-US citizen OR is a US citizen wanting higher limits or without a US bank account, then ID verification would be necessary*
*Using our rapid ID verification system (usually instant upon scan or upload of photos of proper documents).
Does that clarify things a bit?
Cheers,
Brandon
Thanks for the clarifications. This is probably one of the few things I haven't liked about the way cryptos all seem to be going. I actually need less information to start a new bank account than I do to get set up on any reputable exchange. It's a nightmare. 6 different forms of verification is just absurd.
Your approach seems much less invasive.