KYC Tier 1,2,and 3 explained


#1

Can Someone that has completed there KYC fully please share and show a screenshot or tell us what each Tier requires for us on the fence since we cannot see each level until you do each one?

Would be nice to know if you can do all the tiers all through the electroneum online wallet or do you have to use the Yoti app? would like to not have to use Yoti if possible and just use ETN all to the Tier 3


#2

I have attached a screenshot of my progress.

Level 1 = Yoti verification

Level 2 = proof of address = and official document you received through the post with your name and address on it, you could use a council tax bill, bank statement, credit agreement, home insurence, car insurence or anything else.

Level 3 = Proof of funds. This can be a pay slip from your work, weekly or monthly pay, it could be a bank statement, it could also be a letter from your employer stating how much is your salary! Lots of options.


#3

Further:


#4

on the Tier 3 what are some other options you think? and do you have to use the Yoti? can you not just send everything through the ETN?


#5

Hi mate.

Only tier 1 is for YOTI!

tire 2 and tier 3 are 100% through Electroneum own website :slight_smile:


#6

Will be some KYC Tier for Offline Wallet and exchange?


#8

They forked from Monero a year or so ago, and have made considerable changes since then. Example: They are no longer a “privacy coin”, outside of using private IDs to make it impossible to see how much ETN someone has in a given wallet.


#9

Yes I know that but somebody bought etn when was the privacy coin they could leave both options KYC and non KYC wallets


#10

It wouldn’t work, for legal reasons. In order for them to be fully KYC and AML compliant, they need everyone to conform to the regulations (when held in the Mobile/Web wallets). You’re still able to hold in a Paper/CLI wallet and Exchange wallets without the said regulations, however.


#11

They can use the offline wallet that can be managed through the wallet-cli program. It’s not possible to give possibility to use online wallet without any KYC, it have to be done as it’s provided by Electroneum LTD which is a fintech.

Edit : @Satsukeshi beat me to it lol


#12

And where is it now the crypto firm?


#13

What do you mean ? At what moment is ETN a cryptofirm?

If you prefer, ETN LTD is a crypto firm & a fintech company, both, which means the services they provides to users (Online wallet, IPS…) have to be KYC/AML compliant.


#14

Ok I give up you’re right

Tier 2 - send over 150$ per 3 month for somebody in Kenya

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