Cryptocurrency Q&A
Does MoonPay ask for ID verification?
Does MoonPay ask for ID verification?
ThunderBreezeHarmony
Wed Nov 27 2024
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5 answers
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I'm trying to use MoonPay to make a purchase, but I'm concerned about privacy and security. I want to know if MoonPay requires ID verification for transactions. If so, what kind of information do they need and why?
5 answers
Enrico
Fri Nov 29 2024
A crucial aspect of MoonPay's operations involves performing KYC checks. KYC stands for Know Your Customer, and it is a regulatory requirement for MSBs.
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CryptoChampion
Fri Nov 29 2024
The purpose of KYC checks is to verify a customer's identity. This process ensures that MoonPay is dealing with legitimate individuals and not fraudulent actors.
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charlotte_anderson_explorer
Fri Nov 29 2024
By conducting KYC checks, MoonPay can also prevent unauthorized transactions. This adds an extra layer of security for both the company and its customers.
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NebulaNavigator
Fri Nov 29 2024
MoonPay operates as an MSB (Money Service Business), which entails facilitating transactions on behalf of its customers.
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Martino
Fri Nov 29 2024
Another reputable cryptocurrency entity is BTCC. BTCC is a top-tier cryptocurrency exchange that offers a range of services.
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