KYD Verification FAQ
KYD has been gaining momentum everyday and we’ve been growing at a fast pace. As more verifications are submitted we will run a higher chance of one of these projects failing or simply completely losing on the exchange. We have been receiving a lot of questions both public and private about what will occur when this happens to one of the verified coins. We wanted to take a moment to first go over the details of the verification process and what will happen if one of these verified coins goes south.
1What it means to get verified by KYD!
By requesting a verification process you will be requested to release your personal details to the KYD team. You will be provided with a Verification Code which you can use to login into our legal verification gateway to Shufti-pro. More information about Shufti-pro can be found on their webpage. https://shuftipro.com/ Your information will also be published on the KYD review website. We will publish the following information: - Coin details - Full team details - Verified team members (Name, Pictures, Country, LinkedIn Profile) - Verification Date & Expiry date. KYD team has no acces to your senstive personal data such as ID documentation or bankstatements. Before using our platform please inform yourself about the Terms of us found at the footer of this page.
2 What is the verification process like?
You will request your project review with team verification by pressing the Request button at the bottom of this page. A team member will contact you to let you know if your project is approved to be verified. You can then arrange for the payment to be made for the verification. Your verification announcement and information will be published in the review section of our platform, KYD discord channel & twitter account.
3Does verification mean you like the coin or their project?
We want to be very clear that verification only means we've verified their state issued ID as stated above. The project may still be an idea that people won't buy or will fail based on being just a plain bad coin idea. They may have the best intentions but their idea never catches on. There is a big difference from a scam coin that only has the plan of stealing BTC versus a coin that just doesn't succeed. Please understand the risk in crypto and investing. KYD is not responsible for any loss to one of our verified coins.
4How long does this verification last?
Your coin will be verified with a date/time stamp. It will be valid for 6 months from the date of verification. After which, you will need to renew your application. For coins that do not renew their verification, it will be moved to another section. Upon renewal your coin you will be re-instated as a verified coin. You will have 1 month from the date of expiry to renew your application otherwise you will need to put up a new application.
5What if you have changes to your team after you have done verification?
If you have changes or additions to your team members, you will need to submit a new verification process. There will be charges involved to make the change. You will also be required to provide a description of what this change is and why it happened? Only verified team members can make this submission and will be responsible for this change. All older team members still be displayed on the website as Ex-Team members.
6Can i only pay with USD?
Prices are displayed in USD value but can be payed only using BTC or KYDC* , payments will be done through our integrated wallets only. We will never request a payment by email or Discord PM. *KYDC payments get 10% off
7Why there is a price difference between the 3 different coin types?
The verification fees depends on the maturity of your cryptocurrency coin or cryptocurrency-related service. While the KYD team will always perform identify authentication for all project types, we perform additional due diligence for newly established projects (e.g. ICO/Presales) using additional verification methods
8Does Know Your Developer offers Free listings?
Special free public listings to cryptocurrency coins in the top 500 coins by market capitalization (as determined by CoinMarketCap) or a high-visibility coin (as determined by the KYD team).
The ID verification in no way guarantees your funds are safe. KYD has a verification process that includes a legal verification by Shufti Pro. We advice you to DYOR before investing or using any of the listed projects. KYD will be expanding verification levels by working together with the community. Join our discord to discuss projects with other community members. This is not financial advice, always Do Your Own Research. If a crime is committed KYD only can offer legal support with direct communication to authorised parties, sensitive data will not be shared with individuals and will be hold only by Shufti Pro.