As the Satoshi Core mining gears towards the MainNet launch, its participants across the world are reminded to get ready for the Phase2 of KYC verification process.
KYC in crypto industry, is an acronym for Know Your Customer/Client. It is an identity verification process, aimed at restricting bots, fake or multiple accounts, from the crypto project’s ecosystem, ensuring that real-humans only are in possession of the assets.
The second verification (KYC) of Satoshi Core Mining will come up before participants will start migrating their ‘mined’ BTCs to any external crypto wallets.
The phase1 (Pre-KYC) is the first identity verification process every participant did before they started mining Core Satoshi, whereas the phase2 (which is the final stage in KYC that’ll enable a miner to have complete control of your BTCs account) will be unveiled before miners will start migrating their assets from the CORE mining app to crypto wallets.
On the first phase of the kyc process, miners were instructed to input their Full Name, the number on any of their valid identity card recognized by their country, and then perform a liveness-video (selfie/face) verification.
The second kyc process will require that the face verification person must be the same person on your identity card, and that the ID number displayed matches with what you submitted during the first phase of the kyc process. This phase will require a selfie-video just as you did the first time, but you will be holding that your identity card. And if the verification fails (do not match with previous Identity information submitted), your account and assets will be frozen.
Precautions During Phase2 KYC Verification:
- Stay in a brighter place during the verification process. Do not stay in a dark room.
- Ensure your network/internet connection is strong.
- Take off your glasses or hat during the face verification process, to avoid failing the verification.
- See the sample image below to avoid making mistakes.
Please, beware that the second kyc process has not started yet, as this publication is to serve as a Reminder to everyone.
Update: CORE Mining participants, if you filled in wrong name or ID Number during the Pre-KYC process, you will will have “One More Chance” to make correction, when you will perform the last-KYC process before withdrawing your BTCs coins.
Steps on How to locate Real-name Authentication:
Open your BTCs mining app, Click on ME shown below, and Tap at the top where your email address is showing. For updates on Satoshi BTCs mining, you can follow the BTCs Twitter Community, join the Telegram Group Chat, and the Satoshi BTCs Announcement Channel. Stay informed BTCs miners.