KYC Coin is a coin whose main goal is to make cryptocurrency payments easier, faster, clearer, and safer
The KYC project of KYC&AML.ltd company includes a coin KYC Coin, a mobile wallet for iOS & Android, a desktop wallet, and a web wallet. Also under development is the KYC Check verification and identification system and KYC Exchange crypto platform for the exchange of any cryptocurrencies. The developers’ task is to ensure that each user can easily and safely use different cryptocurrencies within a wallet.
Among the solutions KYC Coin offers are easy linking to the branded card, multi-chain support, instant cryptocurrency exchange, commission-free transfers, and many others.
KYC Coin is not just another coin that can be used as a means of settlement or an investment vehicle. In fact, the KYCC solution is a hybrid project that aims to change the operations people are used to.
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Each user, regardless of where he or she lives, has the option of ordering a branded card. This is not just a means of withdrawing cryptocurrencies, as is often the case with competing projects, but an actual cryptocurrency payment tool. Any cryptocurrency supported by the wallet and available on the user’s balance can be transferred to the card balance. Thus, the branded card and the wallet are two hubs that simplify the use of cryptocurrencies and actually contribute to their closer integration into the real world.
When it comes to exchanging cryptocurrencies for fiat money, the main problem is paying commission. But at the same time, one has to wait from several to several dozens of minutes. Sometimes, especially when it comes to the exchange operation in the evening, it causes a lot of discomforts. The KYCC wallet allows making instant exchanges thanks to the built-in conversion function. It receives up-to-date conversion rates in real-time from Chainlink and other decentralized oracles. In this way, users are able to make instant transactions, which are also subject to minimal fees.
Transferring money is one thing; receiving – quite another. The traditional way of accepting payments often involves a process called invoicing. The merchant has to create a request for payment, send it via chat, and then wait for the payment to be received. In a KYCC environment, this is much easier. If the recipient of the funds collaborates with a number of customers, they can add them to their contact list. This way, the payment request is not made by sending an invoice, but by selecting a user from the contact list. Just select the person to send the payment request to, specify the amount of money, choose the cryptocurrency and push ‘Send’.
Customers pay for goods and services differently at different times. While it used to be customary to take paper money out of a wallet and hand it to a vendor to get change in the form of paper banknotes and metal coins, now the most popular way is to use a bank card. And yet, bank cards can no longer be called a progressive way of making payments. Shake To Pay is a way to pay for goods and services by shaking a smartphone. Suppose someone needs to make a money transfer to a friend who is nearby. They just need to shake their smartphones, and the devices will detect each other. In this way, the transfer can be done automatically in any cryptocurrency available in the wallet. This method of making payments is extremely convenient when a vendor has a need to accept a large number of small payments. Street vendors, micro-entrepreneurs, cab drivers, and other merchants accept dozens or hundreds of payments daily. Shake to Pay becomes a simple, straightforward, and secure way to transfer money in a variety of situations.
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When developing the KYCC project, the most advanced technologies have been applied, which have proven themselves from the best side. In particular, the POS (Proof of Stake) mechanism ensures speed and safety. There are many advantages of the Proof of Stake mechanism over the Proof of Work. One of them is that any user who is a coin holder can take part in maintaining the stability of the network, rather than one who is willing to invest in expensive equipment. This is evidenced by the name of the protocol itself. By using POS, the network enables fast and secure transactions. There is no need to use excessive amounts of electricity, as is the case with many well-known coins, particularly the classic bitcoin.
Due to the fact that anyone can participate in staking, there are a large number of stakers. Each of them contributes to the stability and security of the network. Staking and mining in the KYCC network are plain and simple. These processes allow earning passive income without the cost of purchasing specialized equipment. Staking is an easy way to make money. It involves locking up a certain amount of coins and directing them to maintain network stability. Masternodes are an option for professional users. A masternode is an additional node in the network that stores a copy of the blockchain. That way, if the network is attacked, a copy of the transactions is still stored and can be recovered.
The KYCC network has a large number of stakers and masternode holders, so its security is not threatened. Notably, at any time a user can terminate their participation in the reward program, resulting in all locked coins being returned to their possession. This variability attracts a large number of participants, thereby making the network more and more secure.
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This ease of earning passive income and the ability to join or leave the rewards program is enabled in part by the fact that the network is based on the Proof of Stake mechanism rather than the Proof of Work mechanism.
The KYC project team consists of a group of highly qualified experts, each of whom has previous experience working on various types of projects. The team is led by two sisters, Alexandra and Maia Kolitova. Their joint work on the KYCC project is an example of coordinated leadership activities of two women, which is quite atypical in the modern cryptocurrency environment.
KYC & AML CHECK will help identify customers in various institutions and provide a high level of protection. The services will be available with minimal fees only for KYCC coin holders, which will help ensure its liquidity in the future. KYC EXCHANGE cryptocurrency exchange will provide an improved range of services, compared to other exchanges, for investors and traders.
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