Anyone who has traded in cryptocurrencies through digital exchanges knows the hassle it has become in recent times. Once, it was a breeze to sign up for an exchange that dealt in digital money. A few clicks, enter basic user data and you were good to go.
NOT SO EASY
However, in the past couple of years, the explosive value of cryptocurrencies has made governments nervous. The high-value coins can be instantly shifted from one user to another, without an intermediary such as a bank, meaning that tax evasions and other illegal activities that wish not to have a banking trace prefer to use these coins.
Governments around the world have put regulations on trading institutions, where these exchanges treat customers just as banks would. Thus Anti Money Laundering (AML) and Know Your Customer (KYC) rules now apply to these exchanges. This means every new user has to upload identification documents that these exchanges then verify to ensure users are genuine and do not have a criminal record. This verification takes a lot of time.
TRADE.IO
Developed by a team of experts who have a long experience in the trading sector, Trade.io is a Swiss decentralized, blockchain-based exchange that wishes to eliminate all issues that modern exchanges face due to rules and regulations and still be able to comply with these.
Trade.io is the world’s first crypto exchange that provides liquidity pool, distributing up to 50% of its daily revenue to the liquidity pool members. The company has recently finished its ICO and has attracted serious forms that wish to perform their ICO on their platform.
With this increased interest in the trading platform, many users/ investors are expected to sign up in the coming months. With all the users being new to the platform, verifications of each and every one will be a must. The delays in allowing users to trade will mount up as more and more sign up. To speed up the verification process, Trade.io had to look for an alternative.
CIVIC
The platform has partnered with Civic. It is another blockchain service that specializes in creating a single ID and performs background, AML and KYC checks for its users. As a service dedicated to security checks, Civic can perform this function faster.
Users who have Civic accounts will then not need extra verification on Trade, as Civic will have done it. This will allow instant verifications from Trade.io side of its users, allowing people to trade on the platform as soon as they sign up.
Visit https://trade.io/
