At Gokumarket, users can register and perform various activities like trading, making deposits and withdrawals, making purchases of Cryptocurrencies or E-Commerce products and many more activities, as an Individual or on behalf of a company.
It simply means that the account can be a personal account or a company/business account.
When a user registers as an individual account, transactions like Bank Deposit and withdrawal (if applicable) are required to be performed using their own accounts, and therefore details in the GokuMarket account and details on the banking transactions should match. Similarly, for a Business account, bank transactions are to be done via the Corporate bank account so that the details match and transactions can be processed successfully.
For an individual account, a user would simply register in the platform and start using GokuMarket’s Products and Services. And further, should the user would want to be eligible for the added benefits and decides to get the account verified, the user would need to perform a KYC verification process.
Individual KYC Process
1) Refer to the article below to understand the individual KYC process
How To Verify My Account? (KYC Verified)
2) Document required for the KYC process are listed in the article
For users wanting to open a Business Account thereby associating the account with the Company or Business, these are the prerequisites:
* The first step is to register a normal account Note: Only the Owner, A Partner(with the approval from other partners), a Shareholder (with the approval from other shareholders)or an Authorised person of the Company should register the account.
* All the Owners, Partners, or Shareholder, should mandatorily Open an individual GokuMarket account and get the account KYC verified
* Company Documents availability as required to upload for verification
Therefore, for Company Verification, a user would need to choose KYB at the settings screen and complete the process.
* Refer to the article:
How to be KYB (Know Your Business) Verified ?
* Documents required for KYB process:
What Documents are Required for KYB (Business Account)?
To sum up:
* KYC is for Individual (Non-Business)
* KYB is for Company or Businesses