BitHide is the crypto payment gateway, with no KYC check
BitHide is the crypto payment gateway, with no KYC check
Businesses looking for methods to accept cryptocurrency need to integrate a crypto payment gateway into their solution. However, using whatever crypto gateway, if not BitHide, does not mean you are not under the regulation.
Crypto wallets, like other financial products, are under KYC/AML checks to prevent potential risks for money laundering and financial terrorism.
Know Your Customer is an essential aspect of financial regulation, and compliance with KYC requirements is typically mandatory for financial institutions. It is also a necessary part of the fight against financial crime, as it helps to ensure that financial systems are not used for illegal purposes.
BitHide users install our solution on their servers, which means nobody can access your data and funds but you. In this case, even when the regulator turns to you regarding the KYC check, only you, being the only owner of this data, decide whether to pass this verification. As a result, BitHide is the only crypto payment gateway no KYC required.
How does a crypto payment gateway work without KYC verification?
Let’s explore how a crypto payment gateway no KYC check is possible.
Cloud providers must share their data with third parties to guarantee a proper KYC verification procedure if your store data online. However, if you exploit your private servers, you can not share your data for KYC verification requests because there are no mechanisms to penalize you in this case. BitHide uses this approach to deliver a crypto gateway without KYC.
BitHide product features
BitHide is among the top solutions to accept crypto payments by businesses, which allows skirting the AML/KYC regulation. However, this is not the only BitHide’s helpful feature. Let’s investigate more.
This is possible thanks to BitHide being installed on the user’s private servers. This way, server owners are the only people or institutions that can grant third parties access to their data.
With a mix of TOR and VPN, BitHide efficiently hides the physical address of the wallets it serves.
Thanks to the internally integrated technology of unhealthy transaction detection, BitHide can identify suspicious transfers. It is important to separate such transactions to keep the wallet structure impeccable. Later, it is possible to withdraw the quarantined funds without compromising the primary account.
For businesses operating multiple merchants, it is crucial to create many merchant accounts, differentiate the budget flows, and serve different needs. BitHide enabled companies to do so. Moreover, the tool allows for analyzing these flows separately.
The bigger your company becomes, you need more people having access to your crypto wallet. However, it is important to keep this process transparent when you know exactly who has access and to which data. BitHide allows to distinguish access rights and the corresponding functionality.
With the exchange rate and withdrawal fee fluctuation, it is important to set up the automatic withdrawal process. BitHide enables even more, including auto and API-driven withdrawals. This reduces the costs associated with this process.
BitHide allows to create standard and specific reports for each of the merchant accounts. Moreover, pivot balance sheets are also available here.
Why would it be beneficial for a business to use a cryptocurrency payment gateway without KYC?
The ability to avoid KYC regulation becomes crucial when it comes to grey-hat businesses. Otherwise, if the verification process is broken:
- Financial regulators may freeze the crypto wallet.
- Customers may be unable to complete transactions or access financial services if their identities cannot be properly verified.
It means that a cryptocurrency payment gateway no KYC provider comes in handy for companies that need to skip the KYC verification and continue accepting crypto payments officially.
How BitHide can help
So, if you are looking for a crypto payment gateway no KYC approval, BitHide can become an excellent choice.
- Get no KYC support
- Keep all the transactions anonymous
- Quarantine risky transactions
- Automatically withdraw funds
- Manage as many merchant accounts as you need
FAQ
What is KYC for crypto?
The KYC or ‘Know Your Customer’ procedure works for cryptocurrency payments the same as for the more standard payment approaches. The process involves verifying the customer’s identity and the fund sources. Most cryptocurrency tools are pseudo-anonymous and enable third-party regulators to check the wallet structure. In the case of BitHide, only the data owner can decide whether to share such information.
How to use crypto payment gateway, with no KYC confirmation?
It’s simple to use a crypto payment gateway no KYC method because it works a standard processing tool likewise. Upon integrating such a tool on your website or app, you can start accepting crypto payments. Regarding BitHide, don’t forget the extra step to install the solution on your server.
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