On 7th May 2019, we sat down with Charlie Meraud of Woorton to interview him on his company’s experience with KYC3. Read the interview below for yourself to learn more about KYC3, the services we provide, and how our users are taking to the product.
[Disclaimer: The interview was not conducted forward by AMBCrypto.]
1. In your own words, can you simply explain your business?
Woorton provides liquidity in digital assets to a wide range of clients. With access to more than 30 cryptocurrencies, API connectivity and market-making services, Woorton works mainly with financial institutions and high net worth individuals. Because of our client typology, KYC is an integral part of our operations.
2. Which features do you believe are absolutely essential for modern KYC procedures?
We generate KYC reports on a daily basis and need to process to be easy and quick.
3. How did you hear about KYC3?
We met Jed Grant at a blockchain event in Paris. We had a short conversation about the need for KYC tools for Fintech startups.
4. Can you describe your user experience with KYC3?
After being on boarded on the platform, we were able to start generating reports instantly without spending hours on training or demos.
5. Did our product solve your problem? Is there a feature that you were missing?
Our main concern was to have an easy tool able to generate reports instantly so we can spend time on analyzing client profiles rather than collecting data. KYC3 provides this and more so it was a perfect match.
6. Which features have you found the most useful?
Screening individuals and companies against sanctions and PEP lists with the Full Report Builder.
7. What made our solution stand out in your eyes from the crowd?
Aside from the easy dashboard and reasonable pricing, what caught our attention was the background of the team and the fact that KYC3 publishes proprietary sanctions & PEP lists. This really helps when we present our procedures to banking partners or regulators.
8. What do you think about KYC3’s announced Decentralized KYC ecosystem?
We are ourselves working on decentralized exchanges and the question of on-chain KYC will likely be a key element of such platforms. We look forward to testing the KYC3 decentralized environment.
10. Have you been working with a different KYC provider before? Can you share your experience?
Technically no but we have seen lots of pitches and demos. We find that KYC providers try too much to over-deliver on unnecessary features and over-complicated dashboards.
This is just one of many examples of our satisfied KYC3 users. KYC3 aims to set the industry standard for all KYC on boarding procedures, and we believe we are well on our way to doing precisely that.
How to Buy BTC for Just 10% of its Value on YouHodler
As FinTech platform YouHodler expands it’s services to clients, users are unlocking new, creative ways to take advantage of the crypto market. Take the platform’s “buy crypto with fiat” for example. With this method, combined with YouHodler’s 90% LTV, a user can buy BTC for just 10% of its value. Here’s how it works in three simple steps.
HOW TO BUY BTC FOR 10% OF IT’S VALUE ON YOUHODLER
With YouHolder’s recently introduced feature, user’s can buy BTC, ETH, XRP, XLM, LTC, BCH, BSV, DASH, EOS, BAT, REP and more directly on the platform with fiat [USD and EUR with a credit card or bank wire]. Users can get large discounts on crypto purchases. For this specific example, let’s see how someone can buy 1 BTC for just 10% of its value using the following three-step method on YouHodler:
For this example, let’s say 1 BTC = $8000
Step 1: Use $8000 in cash to buy 1 BTC on YouHodler [Note: This is temporary capital that will be repaid in about 15 minutes]. Alternatively, you could borrow the $8,000 from your traditional business funds to use in this scenario.
Step 2: Use this 1 BTC as collateral on YouHodler. With 90% LTV, you get 90% of $8,000 sent to you in cash or USDT. Use this to pay back the $8000 to wherever you borrowed the original capital from.
Step 3: You now have 1 BTC sitting in collateral that you only paid 10% for [$800]. Now, simply wait for the market to rise again before repaying the loan and getting your 1 BTC. You are only responsible for paying back the 1 BTC at its value at the time of the loan. So if it rises to $9,000, $10,000 or beyond, you keep all additional profits.
Note: This can be a risky strategy if the market takes a rapid price drop.
CUSTOMIZE YOUR USER EXPERIENCE WITH MORE TARIFF OPTIONS
While the previous example focused on YouHodler’s 90% LTV tariff option, users should know there are a variety of channels one can access depending on their individual needs. Whether you want quick cash, 8-day loan term with 80% LTV for a long term 120-day loan with more flexibility, there is plenty to choose from to suit your strategy.
Customizable tariffs are also available upon request. Considering all available options is an important part of your risk management strategy. Hence, YouHodler always recommends a thorough due diligence process before pursuing any financial activities.
To see the full selection of tariff options and to take advantage of YouHodler’s crypto banking tools, visiting them here today.
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