What is KYC?
KYC stands for “know your customer”, a requirement for financial apps to collect personal information about their users such as name, ID, and address in order to comply with local tax and anti-money laundering laws.
You will need to KYC before you can withdraw money from the VeVe app.
KYC means “know your customer” and is a term for laws required by many countries that requires financial institutions to collect information about their customers for anti-money laundering (AML) and other regulatory requirements.
Providing KYC involves uploading personal informaiton to a service or app such as name, phone number, and address, as well as verifying this information with documents such as a drivers license or passport.
KYCing on VeVe requires providing personal information, as well as providing a photo ID and proof of address.
Users who complete KYC are considered “VeVeVerified” within the app, and gain a full access to the app’s features.