Why does my account need to be verified?

Why does my account need to be verified?

Since Koinal serves in the payment process, it is subject to the compliance rules & regulations. In addition, user verification history on the exchange platform where the user account is held is independent of Koinal's responsibilities. All the required security checks are to be completed regarding the volume & type of financial transaction. 

On the other hand, these checks will provide a safer purchasing experience for all the Koinal users as well.

As users continue on transacting, they may be requested for sending their verification documents such as a national ID Card, passport, or driver's license. Depending on the case, additional documents may be requested such as proof of address or source of funds.

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