ICOBox ICOS ID: Initial Coin Offering Token KYC & AML Service?
ICOS ID, found online at ICOSID.com, offers a single login point for multiple ICOs. Find out how it works today in our review.
What Is ICOS ID?
ICOS ID provides a single account and one-stop KYC for all ICOs. You sign up for ICOS ID once, then can use that identification to participate in any ICO.
If you’ve ever participated in an ICO, then you know how annoying KYC and AML verification can be. ICOs legally need to offer these verification processes, and users need to legally complete the verification to participate in the ICO. But filling out all of that information can be annoying. That’s where ICOS ID wants to help.
Today, you can use your ICOS ID to sign into services like the ICOBox Store. That online portal features listings of dozens of ICOs. You can participate in all of these ICOs with a single ICOS ID.
How Does ICOS ID Work?
Here’s the basic process you can use to start using your ICOS ID to participate in ICOs:
Get started by visiting the ICOBox Store at https://store.icobox.io. You’ll need to create an account and complete the verification procedure before using the store. Enter your email address and password. Then, you’ll receive a PIN code by email to confirm your account. Enter that code, then proceed to the verification process.
Begin the verification process. Enter your account details, your personal info, your address, and all other required fields (except for those marked optional). You’ll need to upload various documents and images during this verification process – similar to the KYC process you undergo on any exchange or ICO website. Once you’ve uploaded your documents, submit all information and wait for your account to be verified. Your data will not be stored and is only used for verification purposes.
If your account verification cannot be completed, then you’ll receive an email with a reason why. If your account is verified, you’ll also be notified and your account dashboard will not say “Verified User”.
As soon as your account is verified, you’ll be able to access the ICOBox Store. The online dashboard features future, active, and past ICOs. You can fill your wallet with BTC, ETH, or ICOS to participate in these token sales.
How does ICOS ID verify your data? Which databases does it check? ICOS ID collaborates with a company called Onfido for identity verification services. All information submitted to ICOS ID by clients will go to Onfido for a verification check. Your data is not stored. It’s only used for verification. Onfido is a UK-based company that processes personal data in compliance with applicable laws in the US, UK, EU, and other jurisdictions.
Furthermore, the companies that run ICOs through ICOBox cannot access any of the personal information you provided to ICOS ID. ICO companies can only see whether a client is labeled as verified, not verified, or verification in process.
ICOS ID Benefits
ICOS ID emphasizes the following benefits for token buyers and ICO companies:
For Token Buyers
- No need to submit documents for KYC/AML verification for each and every ICO
- One-step document check
- Once KYC is successfully passed, the user can be immediately whitelisted for any ongoing or upcoming ICO
- Single convenient multi-platform interface
- Express access to a wide range of ongoing ICOs upon successful completion of KYC/AML verification
- Use a single password to access all ICOs, including all ICOs listed on ICOBox
- Enjoy a high level of security thanks to the use of encryption, advanced data transfer procedures, and multi-factor authentication
For ICO Companies
- Legal compliance in key jurisdictions
- Reduced costs for KYC/AML verification procedures
- Increased ICO campaign conversion by reducing the number of steps from opening the page to completing the verification process and purchase
- Accelerated completion of KYC/AML verification for investors
- A more convenient way to participate in ICOs with no need to upload additional documents
- Increased customer loyalty
Who’s Behind ICOS ID?
ICOS ID was created by ICOBox. It’s a one-stop user verification and identification system that was designed specifically for ICOBox’s online platform, but can be adapted to provide verification on other platforms as well.
ICOBox provides SaaS solutions for companies around the world preparing to launch their own ICOs. The company consists of a team of over 100 professionals who offer ICO support in marketing, legal, and technology. Over the past year, the platform has hosted 30 ICO campaigns, helping companies raise a total of over $300 million. Notable ICOs that have taken place on the platform include ParagonCoin, TokenStars, PlusCoin, INS, and Crypterium.
The ICOS ID project was first announced on April 11, 2018. The project aims to roll out over the next 6 weeks, with full identity verification support coming online by the end of April.
ICOS ID Conclusion
ICOS ID allows you to access multiple ICOs from a single login point. It’s an identity verification system created by ICOBox, best-known for its software solutions for ICO companies. After verifying your identity through ICOS ID, you can instantly invest in multiple ICOs through the ICOBox portal.
To learn more about ICOS ID and how it works, visit online today at ICOSID.com. The identity verification system will be operational before the end of April 2018.