What is the Know Your Customer (KYC) process for CoinGate?

CoinGate, a payment gateway for blockchain payments, employs a Know Your Customer (KYC) process to comply with anti-money laundering (AML) regulations and ensure a secure environment for its users. The KYC procedure involves verifying the identity of individuals and businesses that use their services. To initiate the process, customers are required to provide personal identification documents such as a valid government-issued ID, passport, or driver's license. Additionally, corporate clients must submit company-related documents like incorporation certificates and proof of operating address. CoinGate may also ask for additional verification information or documentation depending on transaction volumes or as part of ongoing due diligence. This comprehensive verification approach helps prevent fraudulent activities and protects the integrity of financial transactions on their platform.