Vault Wallet Media Division

Created Nov 25th 2022

• Vault Wallet Launches KYC Wallet Integrated with Vault Instant Exchange and Exclusive VIP Access

KYC, or "know-your-customer," is a well-known mechanism used in the prevention of illicit or fraudulent activity. In other words, it is a security protocol that can also be utilized in several cryptocurrency-related procedures.
KYC, throughout the cryptocurrency world, is not exactly standardized or universal. There are some exchanges that do not require it, and then there are others that do, having strict, mandatory rules that ensure that KYC is properly followed.
Cryptocurrency businesses, institutions, organizations, or exchanges that do not have a strong KYC process, or do not have one at all, are more likely to be abused or targeted by malicious individuals. Thus, KYC can aid these entities in gaining a deeper knowledge of who they deal with. This, in turn, will help prevent all sorts of nefarious activities, such as money laundering, for example.
KYC not only enhances security but also brings up opportunities for the broader utilization and adoption of cryptocurrency. These days, KYC can take up to an hour for the most efficient cryptocurrency exchanges or wallet providers.
KYC, alongside other AML (anti-money laundering) and compliance regulations, help make the entire cryptocurrency market more safe, compliant, and trustworthy. It is no wonder that an increasing number of cryptocurrency firms are starting to look into KYC. Hence, this is exactly why Vault Exchange has launched its very own KYC wallet.

• Vault KYC Wallet

Vault Exchange offers a plethora of features for its KYC-approved users. For instance, they will gain access to instant cryptocurrency exchange at leading market rates with every single one of Vault's available virtual assets. In addition, KYC-approved consumers will also get to experience all of the exclusive features offered by Vault wallet, as well as VIP access to future KYC-approved features that will be available soon.
In other words, Vault wallet's KYC-approved users will gain exclusive access to future or up-and-coming features that will not be immediately available to those who are not KYC-approved. These features can include Vault Crypto Cards and an NFT Marketplace, which are both currently under development. We at Vault Exchange are always looking to improve the functionality and features we offer our customers. This is why we keep our KYC-approved users in mind when we offer them exclusive VIP access with the aforementioned leading rates combined with the full suite of Vault wallet features, which are more than enough to hold your interest.

• Final Thoughts

The KYC procedure is made to eliminate or reduce the possibility of financial crimes such as terrorist financing and money laundering. By asking users to submit their personal information, exchanges are able to weed out malicious actors and maintain security. Overall, the KYC procedure is generally viewed as something that is necessary by the cryptocurrency community. While it may not be perfect, it can be an ideal way to stop fraud and other crimes from taking place on exchanges. Hence, all of this is exactly why Vault Exchange has launched its own KYC wallet: so that it can maintain security on its platform while offering interesting features to those who are KYC-approved.

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