Completing Your KYC Verification on Vent

TL;DR

  • Before starting your KYC verification on Vent, you should:

    1. Register on Vent

    2. Have a copy of your passport, driving license, government-issued ID, or residence permit handy

  • Once you have successfully signed in on Vent, you may click on the KYC verification button on your dashboard and:

    1. Select your ID type and issuing country.

    2. Take the front and back photo of your selected ID.

    3. Record a selfie video.

The entire process takes about 30 seconds, and you should receive feedback in your email after every successfully verified step.

Jump to our How-to Guide to complete your KYC process

What Do KYC and AML Mean?

KYC means Know Your Customer (or Client), and AML is short for Anti-Money Laundering. Together, they make up a series of elaborate methods used by traditional financial institutions in many countries to maintain regulatory standards. The government sets these regulatory standards to protect customers and reduce the risks of fraud or money laundering.

KYC, however, is different from AML as it represents a small but significant part of all AML efforts towards combating fraud and other financial crimes. A typical KYC process uses a risk-based approach mechanism that assesses the level of financial risk on a case-by-case basis and accords appropriate KYC measures. As a result, you could go through a simple or a complex KYC process depending on the risk assessment level associated with your financial footprints.

KYC for Crypto

KYC for cryptocurrencies (or crypto) is the process of customer verification used by crypto exchanges and service providers today to prevent identity fraud, money laundering, terror financing, and sanction evasion acts. It is used much in the same way as traditional financial institutions.

As the crypto industry continues to grow and receive more inflow of traditional financial capital, these steps are likely to become mandatory for crypto exchanges and service providers within and outside the EU over the next few years.

VENT partnered with Onfido and InvestReady (for US members) to provide you with a rapid, seamless KYC verification process.

Why is KYC Important for all Vent Users?

You need to complete the KYC process to ensure no one is impersonating you. VENT also uses those details to make tailor-made improvements for your safety and security while using our platform.

Is KYC Safe?

Thanks to technological improvements in financial security, the use of the KYC verification process in crypto is helping to make cryptocurrency transactions safer and faster while protecting users from various forms of fraud and cyberattacks. Vent KYC process offers high-security benefits while requiring only comparatively fewer data.

When is KYC Required For Vent?

Right after you register with your VENT email and password, your KYC verification is the next step to enable you to hold $VENT tokens, stake them, and participate in all types of IDOs. Discover other unique ways you can use $VENT here.

What Documents Do You Need For KYC Verification?

To complete your KYC Identity Verification, you will need only: a passport, driving license, residence permit, or any other government-issued ID.

Who Takes Care of the KYC Process for VENT?

Onfido is a super-fast and secure customer verification company that takes care of our KYC process for us. For investors living in the US, you will be invited to an extra verification by our SEC-compliant KYC partner, InvestReady.

How Long Does it Take to Complete Vent KYC Process?

  • 15 - 45 seconds for all users* in every region except the United States.

  • 24 - 72 hours for US investors.

*This is subject to your internet speed and risk assessment outcome

Steps to Completing Your KYC with Onfido

Step 1: ID Verification

Get your preferred ID handy.

Select the issuing country for your preferred ID.

Upload or take a front and back picture of your ID, and submit.

Tips for KYC ID Verification

  • Avoid objects that may create a glare from the light source.

  • Choose a well-lit area.

  • Use a plain background for your image.

  • Fill the region when taking an image.

  • Place your ID flat on a flat surface instead of holding it.

  • Ensure your ID has at least 6-months of validity left.

  • Take a clear photo.

  • Remove any colour filters.

  • Use only original documents. Scans and photocopies may not be accepted.

Step 2: Selfie Capture

After completing your ID verification, you’ll take a video selfie as the next step. Kindly read the instructions and click “Next” once you understand them.

You may need to allow Onfido access to your camera to complete this process. Take a front-camera selfie following the instructions. Click on the circle below to take a picture once you are satisfied with the position of your face.

Here’s a short video example for you.

Tips for your KYC Selfie Capture

  1. Choose a plain background and a well-lit area.

  1. Ensure it is only you in your selfie.

  1. Remove objects or accessories that may hide your face, e.g. glasses.

  1. Avoid objects that may create a glare from the light source.

  1. Cover the entire oval with your face.

  1. Wear a neutral facial expression.

  1. Do not use filters.

You should get an email confirmation once your document is submitted and approved. If your KYC verification attempt is unsuccessful, you can refer to these guidelines, send a message to Vent support. or contact our 24-hour helpdesk.

Note that if you are a US resident, you also need to complete the InvestReady KYC process using the same email as your Vent account.

For detailed instructions, you can also follow our video here.

How to Successfully Complete Your KYC Verification on Vent | Vent Finance Help Center - 31 March 2022 - Watch Video

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