Cryptocurrency Q&A
Does Changelly require KYC?
Does Changelly require KYC?
Isabella
Wed Jul 24 2024
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6 answers
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Could you please clarify for me if Changelly, a popular cryptocurrency exchange platform, requires users to undergo Know Your Customer (KYC) verification? I'm interested in understanding the security measures and compliance procedures they have in place to ensure safe and legitimate transactions. Is KYC mandatory for all users, or are there any exceptions? Your insight into their policies would be greatly appreciated.
6 answers
MountFujiVista
Fri Jul 26 2024
Changelly, a prominent cryptocurrency platform, operates on a non-custodial model, distinguishing it from exchanges that hold users' funds.
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Valentino
Fri Jul 26 2024
In line with its non-custodial approach, Changelly does not enforce Know Your Customer (KYC) procedures as a standard requirement for transactions.
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Riccardo
Fri Jul 26 2024
This means that users can exchange cryptocurrencies on the platform without undergoing rigorous identity verification processes, enhancing their privacy and facilitating seamless transactions.
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Giulia
Fri Jul 26 2024
Nevertheless, Changelly reserves the right to request user details in specific cases, particularly when a transaction is flagged as suspicious.
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ShintoMystic
Thu Jul 25 2024
The platform's decision to request additional information is based on a rigorous risk assessment process, aimed at preventing illegal activities and ensuring compliance with regulatory requirements.
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