KYC ("Know Your Customer" ) refers to the process of verifying customers' identities before or during the start of Cobo's relationship with them.
Account verification (KYC) on Cobo is optional. However several services, such as BitGrow and Index Fund products, require you to have verified at least KYC 3.
Why does Cobo need to verify my account?
We need to make sure that you're a real person, not a bot or a scammer. Knowing your identity helps us protect your assets and ensures we are compliant with regulatory bodies. It is a precaution against illegal transactions and activities (i.e money laundering).
How can I verify my account?
You can verify your account within the Cobo App or by reaching out to our Customer Service through email@example.com
What do I have to provide?
You will need to upload 2 documents:
- Government-issued ID document (driving license, passport, national ID card or VISA for legal stay)
- Your selfie
Accepted formats include jpg, png.
1st document: ID DOCUMENT
- Use government-issued IDs only - i.e passports, driving license or ID card.
- This document must have your photo in it.
- Your name on this document must match the first name and surname you have submitted.
- We must be able to read your name in the Latin alphabet (A, B, C, etc).
- Use a single picture file. If the ID is two-sided, please submit only the side that has your photo.
- Your ID must be current and unexpired.
2nd document: SELFIE
To make sure it's really you, we need you to take a selfie. Make sure you bring on your best selfie game and take a proper picture of your face, and ONLY your face, and not your pet cat (yes, some people actually do that).
- Take a selfie to help our system verify your identity using facial recognition.
- Make sure you take a clear, straight-on headshot, with no reflections or shadows, for the tool to work properly.
- Take a color photo.
- Hold your camera steady.
- Wear a shirt! Nobody wants to see you topless.
- Wear sunglasses or a hat or anything that can obscure your face.
- Crop the image. Use image editing software.
- Use flash.
- Take your photo with a colored or noisy background.
- Hold a passport or note in the Selfie image, your headshot is sufficient.
I've uploaded my documents to Cobo. What happens next?
Once you have submitted your documents, they go for automatic screening, all adhering to the strictest security standards to ensure your data is protected. Cases that don’t get approved right away for one reason or another will be flagged and dealt with manually by our Customer Support team.
What should I do if I can’t upload my documents through the app?
If you can’t upload your documents via the app, you can submit a request to firstname.lastname@example.org, they will be processed manually by our Customer Support team. Generally, KYC verification (with photos/ videos) will take up to 1 - 3 days. Otherwise, it should be an instant verification!
To deal with your KYC manually, please send the following files and information to email@example.com
a picture of your ID
a picture of you holding your ID. With a paper handwritten with the following: “Cobo”, your name and the date of the application. Make sure your face and all text are clearly visible.
your Cobo account Login ID