Where cryptocurrencies are concerned, getting your hands on them these days often requires more than just a Bitcoin wallet. With concerns about money laundering and terrorist financing on the rise, many countries have put in place regulations to reduce criminal activity and ensure the safety of users.

The standard practice for cryptocurrency service providers such as Oobit as well as most exchanges out there thus involves a potentially tedious KYC process. KYC stands for “Know Your Customer”, and involves collecting the personal details and verify the actual identity of a customer for due diligence and traceability reasons.

Maintaining trust and security without compromising personal data

With Oobit, we believe that it is possible to align with regulations, support the right to data privacy and ensure that customers have a smooth user experience when purchasing cryptocurrency. Using cutting edge technologies such as Optical Character Recognition (OCR) and facial liveness detection can help to speed up the process while ensuring user data is kept secure and private at all times.

Tips for successfully passing cryptocurrency identity verification (KYC)

  1. Always prepare beforehand when registering for KYC services and platforms. Documents you require are often listed at registration. A common list includes your Driver’s License, Passport, Identity cards, bank statements, proof-of-address and sometimes a recent photograph.
  2. Don’t use photographs older than 3 to 5 months, as they may be a factor for rejection by some platforms.
  3. Avoid any blur or using an old camera, as any blurriness may impact the assessment quality.
  4. Find a place with good lighting from multiple directions; avoid shadows, hanging lights and taking a picture with backgrounds or non-consistent background colors.
  5. Avoid wearing any headdress (unless for religious requirements), facial coverings, jewellery or objects that may obscure your face.
  6. Many exchanges perform checks to ensure you are not submitting somebody else’s documents; this may come in the form of following a set of instructions to take photographs with a certain hand sign or action, recording you in a short video clip or asking you to write a date and name on a piece of paper.
  7. Make sure your name is filled in correctly in the digital forms including the exact spacing as identified by your identification documents; even a missing space or wrong letter will likely disqualify your KYC submission.
  8. Ensure that you have a good internet connection when performing the KYC; some services require an always-on connection during the process in order to prevent tampering and malicious activity.
  9. Check if the service you are submitting with is reputable or is in alignment with GDPR policies before you register; your personal data can be compromised and used in identity theft if you are not careful.


Oobit Technologies Pte, 50 Raffles Place #37-00 Singapore Land Tower, Singapore (048623). is a company registered in Singapore (no:201716443G), that has been approved as Appointed Representative of Oobit Technologies OÜ, Harju maakond, Tallinn, Lasnamäe linnaosa, Väike-Paala tn 2, 11415, (no: 14852617 ). Which is authorized and regulated by the FIU (no: FVR001421 and FRK001304).