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What Are Verified Redotpay Accounts?
The meaning of the term ‘verified RedotPay accounts’ refers to user accounts of the RedotPay which passed through KYC check. This is important in as far as checking compliance to regulatory requirement and security in usage for users in cryptocurrency business.
KYC Verification Process:
RedotPay uses an automated verification system, for example, using such services as Sum sub in implementing its KYC mechanisms. This includes:
ID Verification: The users are required to provide identification documents which are corroborated against the official records.
Liveness Detection: This feature is very useful to prove that the person who is submitting the ID is actually present at the back most especially to mitigate identity frauds.
Access Full Features: All this despite the fact that consumers who pass through the verification process are allowed to use all features of the platform, including cryptocurrency purchasing and spending.
Proof of Ownership: Verification gives the users tangible evidence that they are the rightful owners of specific virtual assets and this is very important particularly during insolvency of the firm.