Our KYC vendor Jumio is one of the most widely trusted, user friendly, and efficient vendors in the field. The data they collect in KYC is only used for verification and compliance purpose only, and is not collected, procesed, used, or retained for another other reasons. It will, however, block a user's access to Algomint if it believes the ID is fake or compromised. We urge that you use your genuine ID for KYC, and also monitor your country's regulations to understand your eligibility to use our services.
The KYC process requires that you prepare a personal ID or driver's license dependent on your jurisdiction, and you will need to upload the front and back of the ID as well as enable camera access to collect and analyse your facial data in order to match with the ID. It shouldn't take more than a few minutes to complete, but if you experience any issues, you could go to Algomint App's support page and complete a support form for assistance.
Currently KYC is required by our custodian partner, one of the world's leading custody providers and an Algorand preferred custodian. In addition, we have embedded KYC in our process to make Algomint future proof when it comes to regulatory requirements.