Alfacash, an eight-year-old duly regulated cryptocurrency exchange, and Sumsub, an identity verification platform that covers KYC/KYB/AML needs, join forces to enable automatic identity verification, so a customer can start trading from the Alfacash Store platform at any time, with top-of-the-line security, staying compliant with regulatory demands. 

Sumsub’s platform is equipped with semi-automatic verification tools, as well as tools that require human review, which are all compliant with the current Estonlian legislations regarding non-face-to-face customer identification. In short, they offer expert knowledge, enhanced with AI and machine learning capabilities. 

This partnership will allow Sumsub to quickly offer its customers the best service and support, in addition to giving the confidence to trade cryptocurrency without any legal issues and effort. 

Useful new features

• Available everywhere, supporting 6,500+ types of documents from 220+ countries and territories;

• 100% automated verification, completed in less than 3 minutes;

• Only a couple of documents and requirements, accessible from your phone;

• Fully compliant with the EU’s 5th AML Directive (about virtual currencies) and Estonian AML laws;

• Secure personal data protection under European legal regulations (GDPR);

• 24/7 Support team, ready to help with verification in case of any difficulties.

What will the process itself be like?

• Easy and fast: start by completing friendly questionnaire and wait 1-3 minutes for the verification to complete;

• You’ll only need your ID, phone number, proof of address, and a selfie; 

• Once you have passed Sumsub’s automatic checks, you’ll be able to start trading cryptocurrencies almost immediately while enjoying Sumsub's special programs and discounts!