Know your customer (KYC) verification is an integral part of the Revuto roadmap, starting with the REVU token sale on May 18. If you wish to create a product that connects to the global financial rails, there’s simply no other option.
When we began designing Revuto’s subscription payment solution, it was evident we would need a fiat pipeline: the Spotifys and Netflixes of the world aren’t going to accept crypto as payment — at least not yet. A debit card connected to a crypto-fiat app is the only practical way to bridge the worlds of defi and tradfi for a solution like Revuto.
So that’s what we’re building, and that’s why we’re required to perform KYC on all Revuto users, starting with token sale participants. As the first users of the Revuto dApp, you’ll be able to experience for yourself the beauty of crypto-powered subscriptions. But first, there’s the small matter of KYC to complete.
Why KYC Is Needed
KYC is an unavoidable part of building any fintech product. You’re obliged to use it when signing up for any exchange, neobank, or payment product, and the same laws apply to Revuto.
KYC is required because:
- We deal with finance and payments
- Our card issuing provider needs KYC verification to issue you a debit card
- It gives us the opportunity to build more features that will create more value for Revuto and REVU holders
- It relieves the regulatory burden, freeing us to focus on creating the best product possible
With KYC, we are also investing in you:
- We invest our money in every KYC verification
- Hours of engineering work is spent on eliminating throughput bottlenecks
- We’ve enacted compliance and regulation for countries within the Eurozone
It would be easier for us to give you REVU tokens free of charge, and let the free riders in. But at Revuto, we don’t do what’s easy — we do what’s right.
No such thing as free lunch
There is no such thing as free lunch or money, and creating a best-in-class crypto-fiat platform requires implementing KYC. You invest time in referrals — we invest money in KYC and ensure you have a sound foundation for holding REVU.
We’re confident that you’ll understand our position, and will appreciate the benefits of conducting a regulated token sale that will attract genuine supporters. We’re in this for the long haul, starting with the REVU token sale on May 18. With your participation, we’ll begin laying the foundations for a thriving crypto subscription economy.
Your Revuto Team
1. How do I claim awards in REVU collected with the Revuto Referral Program?
To claim your REVU collected through Revuto Referral Program you’ll have to download Revuto app from the Apple Appstore or Google Play Store, and verify your account with KYC procedure. To claim REVU tokens earned by sharing your referral link with your friends, your friend will have to do the same, download the Revuto app and verify account with KYC procedure.
2. What happens with unclaimed tokens?
Unclaimed tokens won’t convert into cryptocurrency, a native token on the Cardano network (blockchain).
3. What does KYC require from me and how long does it last?
Depending on the country of your citizenship, you’ll have to confirm your identity by providing a government issued document with photo, proof of address and possibly do a live (camera) identification. The procedure shouldn’t last more than a few minutes.
In the meantime, follow our channels for further information and updates:
🎥 YouTube —Take a look at our Demo
🌐 Website — Visit Site
📧 Telegram — Join Group
🔈 Telegram — Join Channel
🕊 Twitter — View Twitter Account
📝 Medium — View Medium Page