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What is Exactly Verified Bitso Accounts ?
A Bitso account is a gateway to the world of digital currencies, providing a secure platform for purchasing and selling cryptocurrencies like Bitcoin, Ether, and digital dollars. Users can open an account, deposit funds instantly from their bank, and start investing in their preferred cryptocurrencies using their local currency. Bitso facilitates the exchange of digital currencies among users through a market where purchase and sale orders are matched. With no control over currency prices, Bitso relies on supply and demand to determine the value of digital currencies, offering a seamless and trusted environment for cryptocurrency transactions.
Verified Bitso accounts go through a process of verification to comply with international Know Your Customer (KYC) standards, ensuring security and preventing fraudulent activities like money laundering. There are three levels of verification at Bitso:
Level 1: Requires verifying the mobile number via SMS and receiving a userid to a valid email address.
Level 2: Involves submitting a passport and proof of residence, typically after processing a deposit via the SPEI transfer.
Level 3: Requires submitting a ticket through the Bitso Help Center, followed by detailed instructions sent via email.
These verification levels determine the limits on a user’s trading account and are essential for maintaining security and trust on the platform. Bitso uses measures like multi-signature wallets and 2-factor authentication to enhance security for all users.
What is the difference between level 1 and level 2 bitso accounts?
The difference between Level 1 and Level 2 Verified Bitso accounts lies in the verification requirements and the associated benefits:
- Level 1: This is the basic level required to operate in FIAT at Bitso. It involves verifying your mobile number via SMS and receiving your userid to a valid email address. At Level 1, users have certain limits on deposits and withdrawals.
- Level 2: To reach Level 2 verification, users need to submit a passport and proof of residence by uploading them through the platform. Additionally, users are recommended to have processed a deposit via the SPEI transfer to achieve Level 2 verification. Level 2 verification comes with higher limits on deposits and withdrawals compared to Level 1.
Level 1 verification is more basic, requiring only a confirmed phone number, while Level 2 verification involves providing additional documentation like a passport and proof of residence, along with meeting specific transaction criteria to access higher limits on trading accounts at Bitso.
What are the benefits of having an exactly verified bitso accounts?
A verified Bitso accounts comes with a number of advantages which enhance access, security as well as functionality on the platform:
Secured and Enhanced: Verification guarantees the compliance of international standards for Know Your Customer (KYC) standards and reduces the possibility of fraudulent transactions such as money laundering, and improving the overall security procedures.
Higher Trading Limits: Different levels of verification on Bitso offer different limitations on withdrawals and deposits. Verified accounts allow clients to collect access to greater limits and allows for the use of more trading options.
Additional Features: Accounts with verified status can access more options and functions through the platform, allowing the most comprehensive experience in trading for customers.
Trust and Credibility: By authenticating their accounts, Bitso users show a dedication to transparency and compliant, which increases trust and confidence in the Bitso community as well as in the larger cryptocurrency market.
Legal Conformity: Verification ensures that Bitso is operating within the regulatory framework to warrant a secure and legal setting for every user.
Verified Bitso accounts does not just increase confidence and security, but it also gives users access to greater limits on trading, more features, and assures that the account is in compliance with regulations.
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