What is pi coin kyc?

KYC authentication is the real-name authentication of customers who hold pi coins, aiming at preventing financial fraud and other criminal acts. In the past, pi coins were not subject to government supervision and laws, so the requirements for KYC certification of currency exchanges were not strict. However, with the frequent occurrence of fraud, escape and theft in cryptocurrency transactions and the increase of criminals using cryptocurrency for illegal activities, with the promotion of governments and financial regulatory agencies in various countries, KYC authentication has gradually become a rule that cryptocurrency transactions must abide by. Through KYC authentication, the exchange can ensure the authenticity of users' identities, effectively prevent risks and maintain market order. This will help to improve the security and transparency of the cryptocurrency market and provide users with a more reliable trading environment.

At present, when you register an account in a cryptocurrency exchange, you usually need KYC authentication. KYC authentication is divided into personal account authentication and enterprise account authentication.

Personal account authentication needs to provide identity authentication and address authentication materials. Identity authentication materials are usually identity cards, while address authentication materials can be water and electricity bills, gas bills or credit card bills that are not more than 3 months old.

Enterprise account authentication needs to provide a scanned copy of the company's business license, passports of the company's main contacts and beneficiaries (if there is no passport, you can use the front and back of the ID card and the account book page instead) and company bills. Beneficiaries refer to natural persons or legal persons who hold 25% or more shares of the company. The company bill must be a daily expense bill issued by a formal institution (such as public utilities and banks) in the last 90 days, which must include the company name and detailed address, and be consistent with the company name and address on the business license.

Through KYC authentication, cryptocurrency exchange can ensure the legitimacy and transparency of transactions and reduce the risk of financial crimes. This will also help to establish a more reliable cryptocurrency market and provide investors with a safer trading environment.

What is the significance of carrying out PI currency KYC?

KYC certification is of great significance for maintaining community values and coping with the regulatory level. In the field of blockchain, real-name registration system can choose real community participants to avoid the generation of false big data, thus enhancing the value of the community. In addition, with the regulatory authorities' emphasis on blockchain, the implementation of KYC certification can make the Pi network develop more healthily and reduce regulatory risks.