how verification secures crypto transactions
how verification secures crypto transactions

How Verification secures Crypto Transactions: Our Work With Bundle Africa

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Information is robust, but accurate data is more powerful. Decisions based on trends, statistical numbers, and facts are only realizable with data. This shows how critical data verification is to every business, irrespective of size and type. Due to the importance of data, data verification has developed at an exceeding accelerated pace. The past decade and a few years have experienced a significant boom in cryptocurrencies. With the introduction of bitcoin, Litecoin, and others into the mainstream in 2009, cryptos are fast dominating the cash market as both young and old are quickly diverting their attention to a cashless economy.

About Bundle Africa

Bundle Africa is a cryptocurrency exchange company and a fun social payments app for cash or crypto. The app instantly makes it easy to send some money like Naira (NGN), as well as crypto such as Bitcoin, thereby ultimately reducing the costs of bank transfers. The bundled app allows clients to send money to anyone on their contact list who is not on Bundle through their phone number for FREE. They only need to download the app to receive it.

Bundle empowers crypto traders to seamlessly buy and sell Bitcoin, BNB, and Ethereum and sell crypto for as little as NGN 505 worth of Bitcoin or BNB. With the app, withdrawals of Naira to bank accounts are possible. Using the intelligent wallet feature, you can move crypto out of Bundle to another wallet and deposit Bitcoin, Ethereum, and BNB for storage and for free.

According to reports, the cryptocurrency market will reach about US$1758 million by 2027, at a CAGR of 11.2% from US$754 in 2019. However, a significant concern of every crypto trader and business in this sphere is the safety of their transactions. The high volatility of cryptocurrencies makes traders skeptical due to the unexpected changes in market sentiment that can occur at any time, leading to sharp and sudden moves in price. The technicalities involved in trading cryptos have placed more importance on data. Data and identity verification helps organizations and exchanges like Bundle Africa to understand the recent market trends, verify users and make definitive decisions. It generates a secured transaction structure and enables individual investors to determine suitable market conditions and invest appropriately.

This article points out some of myidentitypass’s data and identity verification solutions that enable Bundle Africa to make cryptocurrency transactions safe.

Clients Verification using AI-powered Biometric Verification System.

Identity Pass enables companies like Bundle Africa dealing with crypto exchanges to create a convenient and secure way for customers to access their accounts without the risk of using text or digit-based passwords and help them scale through the inconvenience experienced with added security measures such as OTPs. My identity Pass’ AI-powered identity verification system eliminates unnecessary manual input, sometimes prone to human errors or oversights, by automatically capturing data from ID documents. The combination of AI-based technology with the expertise of highly qualified spotting specialists makes crypto transactions fraud-free and safe.

Reduce Fraud and Increase security by allowing end-users to authenticate easily.

Safely performing cryptocurrency transactions has been simplified using Identity Pass. With a familiar, selfie-style tool, Bundle Africa’s clients are easily verified. Hackers or fraudsters are being kept from intruding into someone else’s account, securing a safe transaction through identity verification. When the user’s face matches the previously submitted look and documents in the database, the system checks for any variation between the presented and documented facial details or documents. These documents can include official identifiers such as Bank Verification Numbers (BVN), Passports, Driver’s License, Voter’s cards, National Identity Numbers (NIN), and others.

Free Service to Clients on Any Device across the World.

My identity Pass is supported by the latest web and mobile SDKs, allowing Bundle Africa’s end-users to smoothly authenticate on different platforms from web to mobile or vice versa by re-using the documented biometrical peculiarities of their faces. This means that without any additional identity verifications, Bundle Africa’s users can easily authenticate, access their accounts, and seamlessly perform their transactions on their devices from any location.

Get Started

My Identity Pass is currently available to businesses who desire to have their customers/clients’ or intended partners’ identities verified before engaging in business transactions with them. You can contact our team to get started as a new user. We have a combination of resources for you to get started with My Identity Pass.

  • Sign-up is free for new users.
  • You can book a demo to discover how biometric authentication works.
  • Check our use cases to see examples of what biometric authentication supports.

We are ecstatic about our contribution to powering the growth of different companies ranging from Fintech, cryptocurrency, e-commerce, education, and healthcare, among others, who are utilizing IdentityPass’ verification engine to verify identities across the globe. Our most profound aim is to keep developing the most powerful, adaptable, and straightforward identity verification solutions as we proceed on this journey.

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