FAQ Answer
KYC and Account Verification
Is KYC required for P2P crypto trading, and why is it used?
KYC requirements can depend on the offer, account activity, transaction limits, risk signals and applicable rules. Verification helps reduce identity fraud and platform abuse.
Answer
KYC, or Know Your Customer, is an identity-verification process used to establish who controls an account. It is not accurate to assume that every P2P crypto transaction has the same verification requirement.
Whether KYC is required can depend on factors such as:
- The platform feature being used
- The selected offer or vendor’s requirements
- Transaction values or account limits
- Unusual activity or other risk signals
- Regulations applicable in the user’s location
Platforms and vendors may use KYC to reduce identity fraud, account abuse, unauthorized third-party payments and regulatory risk. However, a verified badge does not guarantee that a counterparty is trustworthy or that a particular payment is valid.
Before opening an order, review the offer and any stated verification requirements. Submit personal information only through Senpero’s official verification process or a clearly identified authorized provider.
Never send identity documents through public messages. Senpero, vendors and legitimate verification providers should never need your wallet’s private key, recovery phrase, password or authentication codes.