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Retail Users

Retail Users

What is KYC?

Know Your Customer is a process of a financial entity verifying the identity of customers and evaluating their appropriateness, along with the prospects of unlawful purposes and practices. Money laundering is one of the significant menaces in a country’s economy. Financial institutions and the government are always on the watch for such illegal activities. Mandating KYC formalities for banking or investment transactions is an effective way to prevent this.

How Does KYC System Work?

LYOTRADE implements automated KYC/AML services from Sumsub, a leading provider of KYC/AML blockchain solutions.
You can do KYC online while opening an Account in some easy steps:
  • Registration
  • Profile Details
  • Other Information
  • Documents Upload
In order to start buying and selling cryptocurrencies, the first step is verifying your account:
  • Register your account: using your email address or phone number. Now you will need to enter some additional information to complete Basic Verification and proceed with the sign-up process. A code will be given to you through email or SMS in order to activate the account.
Register Email Address
Register Phone Number
Email address
Choose country (+44)
Password
Password
Confirm Password
Confirm Password
Invitaion Code (optional)
Invitaion Code (optional)
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I have read and agreed with LYOTRADE terms and service
Sign UP
  • Verify your identity: To utilize our platform, you will need to verify your identity. If you are registering on behalf of an institution, please select Verification for Institutions. If you are an individual, please select Verify Identity.
  • Enter your information: Please enter your full legal name and other requested information into the fields. Once you have entered your information, click Next.
  • Secure your account: You will be prompted to secure your account. After clicking Secure Account, you will be asked to enable SMS Authentication. Please enter your cell phone number and click Send Code.
  • Enter the authentication code: Enter the code that we sent you via SMS. Click Enable Authentication after you confirm you have entered the code correctly. Your 2FA method can be changed later, but we do require SMS verification during sign-up.
  • Confirm your residential address: Please enter your residential address. Once you have entered it and confirmed its accuracy, click Confirm.
  • Read the Account Agreement: Ensure that you read the Account Agreement carefully. Once you have and you are confident you understand them, please click Accept Agreement.
  • Follow the on-screen directions: Please submit the relevant information that is requested onscreen.
  • Go to your dashboard: Click Go to Dashboard while you wait for your documents to be reviewed.
  • Get verified: Once your documents are accepted, you may add a payment method and begin using the platform.

Onboard Types of clients as per VASP

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Tire 1: SILVER
Daily withdrawals up to 400,000 USDT
Tire 2: GOLD
Daily withdrawals up to 1,000,000 USDT
Tire 3: PLATINUM
Daily withdrawals up to 3,000,000 USDT
INFORMATION
Email verification
Tier 1
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Tier 1 + Tier 2
DOCUMENTATION
Identification Documents:
ID, Passport, or Residence Permit.
Tier 1 +
Second Identity document (Passport, ID Card, Residence Permit, Driving License)
Proof of Residence
(Bank Statement or Utility Bill or Tenancy Contract)
Current Profession (Kindly state your current occupation and field of work.)
Proof of funds (Employment Certificate or Bank statement showing sources of business revenue)
Tier 1 + Tier 2 +
Current Monthly Salary (in USD)
ADDITIONAL REQUIREMENTS
Advanced Liveness Check
Tier 1
Tier 1+ Tier 2
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