The KYC registration process is not as simple as you think. Thus, we prepare some tips and frequently asked questions that we may be able to answer for you!

Question 1: Why do we need to fill out the VELIC KYC form?

In general “Know Your Customer” KYC documents that are required to establish one’s identity at the time of opening of savings account, deposit, withdrawal, etc. It is the same as for VELIC to open an account so that a customer can use a variety of VELIC’s services.! Indeed, especially for VELIC here is one more reason to complete the KYC registration below

1.Participate in VELIC IAO

2. Increasing withdrawal limit of 100 BTC

3. Converting VELT to VELA

Question 2: How long does the confirmation/approval process take after completing the registration?

The process usually takes about up to 72 hours. Once the process is finished, we will send you a confirmation email to inform you whether you have been approved or rejected. If you are not quite sure about rejection, please send us an e-mail at support@velic.io or send Personal Message to the admin through Official Telegram channel.

Question 3: I’ve received an email stating that I’ve been rejected. What is the process after this?

Answer 3: Whether you’ve been rejected or approved, we will send you an email confirmation. If you were rejected, we will explain the details of why you have been rejected, in the email.

Here are some cases you can consider:

Case 1. Most likely, it may have to do with a note. The photo is s selfie with your ID and a note; make sure this time that the note should be written in the current date when you fill out a KYC form.

*A Note format should be as following: VELIC/CURRENT DATE(YEAR-MONTH-DATE). e.g VELIC 2019–03–04

Case 2. Your ID Number does not match with the ID photos that you’ve submitted.

To verify your identity, the ID number that you input in the application must be the same as what appears on the photos of ID and the selfie with your ID. Please make sure you have input the right ID number without missing any Letters or Numbers.

Question 4: When is the last day to fill out the KYC registration form?

There are no specific dates for the start and end of the IAO yet, so you can fill out the registration form even during the IAO. However, it is best to fill out the form earliest possible, so that you don’t miss the VELIC IAO. Please try to fill out the form early as you can, that way your processing time will be much shorter than if you were to fill them out later on.

Thank you!

VELIC TEAM