Dealing with cryptocurrency is no longer the domain of only those who buy a bunch of graphics cards and my virtual coins with them while heating their room on a cold winter’s evening. It has become a new and rapidly developing, serious financial trend. But as with any new field, there are also problems with cryptocurrency. The Estonian company Bitnomics is looking for a solution for them.
The world economy is currently in uncertain times, but one thing is certain – free money will be eaten away by inflation. So we have to look for alternatives.
If you look at cryptocurrency, due to the openness of its buying and selling, it can be a field that scares away beginners. Everything just seems too complicated. So you can find many mediators, all of whom claim to be reliable and reliable helpers on this journey. But you don’t have to look far to take the first steps. The Estonian company Bitnomics helps every step of the way.
The user-centred security of the Estonian e-state also extends to cryptocurrency. There are strict rules here to ensure the protection of every crypto enthusiast. At the same time, this does not mean that concessions are made regarding ease of use. Bitnomics customer support helps you with every step, from account creation to buying or selling. Multilingual assistance is available through various platforms, from the phone to social media channels.
When reading about cryptocurrency, you can see the complicated letter abbreviations AML, KYC, KYT, KYB, and PEP. In summary, it is a matter of different rules, the task of which is to protect the person dealing with cryptocurrency and ensure all parties’ safety and compliance with the law. In doing so, a significant emphasis is placed on not abusing the open nature of the digital currency.
Behind these letter abbreviations are the following principles and laws that ensure security when dealing with the purchase and sale of cryptocurrency:
AML or Anti-money laundering – laws and rules that prevent money laundering through cryptocurrency.
KYC or Know Your Customer – the obligation of financial companies to know who their customers are.
KYT or Know Your Transaction – monitoring transactions to identify high-risk activity patterns.
KYB, or Know Your Business – control of activities dealing with cryptocurrency.
PEP or Politically Exposed Person – surveillance of people under sanctions or people and companies associated with them so they cannot deal with cryptocurrency.
However, private customers and companies who want to start buying and selling cryptocurrency do not need to worry about these rules and laws, and it can all be left to Bitnomics. Getting started is even more convenient because the contact primarily occurs with two main cryptocurrencies: Bitcoin and Ethereum.
Bitnomics is an Estonian company developed here and follows all laws in force in Estonia but is international in its activities. Despite this, we have not forgotten our roots – Estonian people and customers!