KYC Electroneum Update!

Just posted to their Facebook account:

Key Points:
KYC Soft Launch on Monday, after 30 days it becomes mandatory for users to apply.

Multi-Tier Strategy, with each tier requiring more User Info.

  • Under 50 Euros, no registration necessary (Just need a Name)
  • Between 50 Euros and 3,333.33 Euros
  • Above 3,333.33 Euros

Teaming up with Yoti for User Identification for Fintech Use.

Also some further information on the iOS app, as well as Cloud Mining.


Strap in ladies and gents!! :wink:


I guess that we will lose a good % of users that wanted an anonymous cryptocurrency… BUT institutions will look at ETN as a more regulation friendly crypto, so I guess that I the end is a Win situation for etn.
I hope I am right :face_with_monocle:


I’ll take monster deals over anonymity features any day of the week. :smile:


Creating my user identification profile now at YOTI:



Verified at YOTI & Ready for electroneum KYC :+1: :rocket:


I don’t see any huge issues with KYC. I certainly don’t mind providing my details so long as i trust the 3rd party company that i’m giving them to.
It will be just 1 more Company that has them as most Exchanges are already doing the same. Coinbase (Crypto’s main door for new users) took them off me when i first got into Crypto, Binance has them, as does KuCoin amongst others. So no noise coming from me.


I Agree.

My only concern is that if they make everyone do this including our target Audience, the unbanked. How will they be able to provide a driving licence or Passport?

Now i get the “under 50 Euro” clause meaning no ID required… However what if someone has 1000 ETN just now valued at only 7 Euros (under the ID threshold) but the price of ETN reaches 10 cents and their holdings are now worth 100 Euros… How do they then complete KYC?

An answer from someone official may put my mind at ease.


etn is build for mass adoption, and these days every government wants to regulate crypto and if we avoid kyc then any time we will be interrupted by gov. If we have to crack deals then most of the other companies watns kyc so i think its a good move…

here we go guys!!! this is what we’ve all been waiting for… KYC and the 5th directive. Once the team have gotten over this hurdle!! its mostly smooth sailing from there.

a reminder, ppl with more than 10 miilion etn have to verify with DNA :grin:


I would bet that the people whom have been used as examples prior to this, wont have the required Documents. Such as the the people who have to walk 10 miles for a phone top-up. They sort of live off grid i would say.

Maybe someone can clarify this for me.

i thought it was a yoti profile at first and anything above 3333 dollars worth of etn required more documentation, nothing too different from coinbase and the documents you need to upload. this is a god thing.

A) a picture of you + B) your phone number + C) your voice print (read 3 words out loud)

is all youll need to get basic KYC :heart:

If you own millions however, prepare to take a picture of your driver’s license or passport…

@M-Kid lol, :smile: :joy:


DNA test kit on route along with a petrie dish.

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that would be s**t :wink:

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Looks like the passport is necessary? Or is government id enough?
Unbanked people won’t have passport for sure. Tbh I live in a city and I don’t have a passport.

the unbanked are less likely to have more than €50 worth of etn, so basic KYC (picture+number+voice) would suffice
ive got some etn, and driver’s license was enough to get uber-authenticated at YOTI. I cant even find my passport atm, so if needed in future ill have to order a new one

Afaik the KYC part is only for the centralised part of Electroneum (Web wallet/Instant Payment).
You can still own millions of ETN without anyone knowing about it, but it would require that you use CLI wallet for storage and transfers.

Either way, you will never be completely anonymous, exchanges are becoming regulated and requires KYC for deposit and withdrawals when you exceed a set value limit.
Those exchanges that do not comply with KYC/AML regulations will be heavily monitored by governments in the future.

There is no need for regular people to have anonymous currencies, and those who do will most likely be under surveillance anyways.


This is such a huge news for ETN they can reach so many contracts on a big scale now everything they are trying to reach for mass adoption is coming slowly and steady where we all been waiting for and a lot of us since the ICO i am happy to be part of Electroneum and this great opportunity with everything they are trying to reach they are most definitely delivering so far this month already starts of great i can’t wait for what is coming the rest of the month of september :sunglasses: