Navigating AngelBlock: A Walkthrough of the KYC Process

21 Jun 2023 · 3 min read

As an investor on AngelBlock, your journey involves several critical steps. One such step, especially if you plan to invest more than $999 in a raise, is the Know Your Customer (KYC) process. This guide offers a detailed look into this process, ensuring you can confidently navigate this essential phase of your investment journey.
Currently, AngelBlock’s fundraising listings are available for users world wide except for restricted jurisdiction you can find here. This regional access aligns with AngelBlock’s regulatory compliance and CFT/AML measures.
AngelBlock collaborates with Fractal ID, a leading web3 identity verification provider, to facilitate the KYC process. This partnership aims to deliver a secure, efficient, and user-friendly KYC experience. Although the KYC initiation option is available during active fundraises, we recommend completing it earlier. This proactivity helps avoid potential issues during the investment phase on the platform.

Importance of the KYC Process on AngelBlock

Understanding why KYC is crucial provides insight into its value for AngelBlock's ecosystem. Primarily, KYC is necessary for compliance with financial regulations. These guidelines are designed to prevent fraud and illegal activities in the financial sector.
Furthermore, KYC promotes an equitable investment environment. By verifying investor identities, AngelBlock can prevent a small group of anonymous or major investors from unduly influencing specific projects. This verification ensures a fair post-governance process where control of the platform remains with the broader community rather than a few dominant players.

How to Complete the Identity Verification Process: A Step-By-Step Guide

Embarking on your KYC journey with AngelBlock involves a few key steps. Here's a breakdown of the process to ensure you can navigate it with ease:
  1. Connecting Your Wallet: Visit the AngelBlock website and connect your wallet. This forms the first step of your KYC journey, linking your investment activities to your identity.

  2. Accessing Your Profile: Once your wallet is connected, navigate to your profile. You can do this by clicking on your profile picture in the top-right corner of the AngelBlock website.

  3. Initiating Identity Verification: After landing on the "My Profile" page, initiate the identity verification process. Fractal ID will guide you through this process, which typically involves providing documents required for identity and address verification.

It's important to note that there may be occasions where Fractal ID requires you to re-upload the documents or adjust the information provided for a more accurate verification. Keep an eye on the result of your submission and respond promptly to any requests for further action, ensuring a seamless and efficient process.
In conclusion, the KYC process is a fundamental part of your investment experience on AngelBlock. Completing this process in advance ensures a smooth investment process when a project goes live for fundraising. So, equip yourself today—complete your KYC process and prepare for a seamless investment journey on AngelBlock. The KYC process, while seeming tedious, is a key pillar in creating a secure, lawful, and fair investment environment on AngelBlock. It ensures both regulatory compliance and a democratic, community-led platform.

Written by: Christian Santagata

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for startups and investors.

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