Why do I have to do KYC?

The processes by which you, as a new user, carry out Know your Customer (KYC) and Anti-Money Laundering (AML) processes is a standard practice for legitimate ITO’s seeking to raise funds. These processes protect those with interests in the project, both you as a user and FENIX.

While there are no formal regulations requiring participants in an ITO to carry out KYC and AML procedures, newly launched blockchain propositions that are carrying out an ITO typically carry these out to allow the company to filter out individuals and companies that have no genuine interest in the project’s success, but to instead, launder their money and make it difficult to trace it back to its origin.

It is the policy of FENIX to prohibit and actively prevent money laundering and any activity that facilitates money laundering or the funding of criminal activities by complying with market standard KYC and AML requirements. In this regard, FENIX has sought independent advice in establishing its own KYC and AML policies.

In accordance with this, FENIX has established its own KYC procedure, which it believes is an effective way to allow us to verify your identity and which only takes about 5 minutes to complete.

How do I do KYC?

  1. Sign up to FENIX,CASH.

    Before starting the KYC/AML process, you must be a registered user of FENIX.CASH. You can register by creating a new account at https://web.fenix.cash/user/register or if you are already registered, you can log into your existing account.

  2. Access to KYC

    To start the KYC/AML process, you must log in to your FENIX account, via the homepage of www.fenix.cash, which will lead you to the FENIX dashboard.

    • To start the KYC process, click on the ‘BUY & SELL’ tab on the left hand side of the dashboard & Click ‘Buy’.

    • An error message will pop-up if you have not verified your KYC. Press proceed to enter into the verification process.

    • The KYC Verification window will open, where you will be required to enter certain information to proceed. Please provide your Full Name, DOB, Email, Country and Phone number.

  3. Verification process hosted by Shufti Pro

    In order to facilitate the KYC process in an orderly and efficient manner, FENIX has appointed Shufti Pro (https://shuftipro.com), a third party KYC facilitator, to manage its KYC process.

    • Once you have entered and verified your details, the window will then launch to the KYC digital verification process, which is hosted by Shufti Pro.
    • When prompted, choose which document (passport, driving license, ID card or other) that you would like to use in order to verify your digital identity.

      (Please note that your computer or phone must have access to a camera for verification).

    • We suggest that you watch the instruction video on how to complete the verification procedure, it is quick and easy to follow.

    • You have now entered the KYC verification process. Please ensure that you have the audio turned on so that you can listen to the instructions throughout the KYC procedure.
    • You will now be verified by facial recognition, please sit still and wait for the next cue.

    • To complete the verification process you must now show your identification to the camera, this then matches with the previous facial recognition and ensures that the identity matches.

    • You will be instructed to show the the whole identification document first, followed by a close up of the name and date of birth. Do not exit the window until redirected to the FENIX website.