What exactly is yoti and how important it’s ?
What’s the benefits and is it mandatory to register? @ETNCEO #general
If you want to use the etn wallet app then you must do kyc.
To be able to send coins using the app and instant payment, you need to be KYC approved.
If you are a long term hodler and dont intend to spend the coins, and If you REALY dont want to KYC, then do some research on CLI wallet.
Yoti is a third party company which verifies your identity. It is recommended to register for accessing your wallet for spends on a long run.
The process is very easy and should not take you more than 10 mins.
There are other posts in this forum with regard to the purpose and advantages of KYC.
Hope this answers your question
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Know your customer ( KYC ) refers to due diligence activities that financial institutions and other regulated companies must perform to ascertain relevant information from their clients for the purpose of doing business with them. … The KYC A lot more companies trying to entice further investors who appreciated KYC look to get on board with it!
