Knowing your customer

Hi Steemians,
It's another day of the week and I'm delighted to participate in this contest today organized by @khursheedanwar which talks about Knowing your customer. I will be making my entry below so read through it and drop your valuable comment as it will be appreciated.

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- What is knowing your customer?

As the name implies "knowing your customer", it is a format or method used by different technologies to perform their verification and also to eliminate the use of bot and people having multiple accounts and their likes.

When you are registering for a particular technology project like cryptocurrency airdrop or mining or even an exchange platform, a few details include face capture is taken into consideration and this is so that people don't create multiple account or cheat the system in any way.

So the essence of this process is so that one person doesn't have more than one account and also to eliminate the cheating of rewards. Since also today people create bot to do a lot of things for them, they try to check and be sure that the said registration is done by human.

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During KYC verification, a few details are requested such as you country name, state, zip code, ID card number and snapshot of ID card and a snapshot of yourself or a little video which will require you do perform some activities such as shaking your head or blinking your eyes.

When all these details are taken, it is recorded and no same person can do same for another registration because the details is already on record which means one person to one account.

- In which recent crypto project or anything related to Crypto compelled you to verify yourself through KYC? Explain?

Currently in an airdrop project that I'm running on Telegram, the task given was that we download the exchange and then go ahead to do our KYC. From the screenshot below, you can see that I have already registered for the exchange and the exchange is asking to know me.

So in that area after clicking, I was asked to input my details i.e., my country Name, state, zip code, address, and mode of identification. After that part I was asked to snap and upload my ID card and then the ID number which I did.

Lastly I was asked to hold the ID and then take a selfie. That was the last phase for the KYC I guess as mine is still pending and under review as at the time of writing this article. So that is the process involve in doing KYC.

Recall that, the first step towards KYC is registering your account using an email or phone number and immediately after using a particular email or phone number it can't be used by anyone again.

Here I will want to invite a few friends to also join the contest and share their entries as well. I invite @josepha, @mesola and @waterjoe.