Thu Sep 13
Reading time: 6 minute(s)
The digital network of relationships is one of the cornerstones of our time. Given the ever-evolving pace of technology and information security most of the day-to-day interactions are permeated with virtual activities that are somehow so natural it makes us wonder that this particular social phenomenon can already be considered an indissociable part of mankind’s evolution.
Let’s say you need to get on a quick chat with that service provider individual you’ve selected randomly on the web last night – considering you just woke up and are not on the mood to vocalize: so you drop a line in a messenger app and in a few moments a late morning visit can be arranged, and that annoying dripping tap shall not drive you crazy anymore. If a book is all you want don’t bother leaving home and search for it on that super-packed shopping mall that you so much avoid: just log in one of the dozen online bookstores available and buy an e-book version of it by simply choosing one of the so many electronic payment methods.
In any of these cases, you’ll only need to use your fingers and nothing else in order to fulfill your needs. However, in some of these occasions, it is not possible to ascertain as to the real identity of the person on the other end, or to the provenance of the enterprises involved. When such situations are at stake one important instrument emerges as a safeguard for all parts involved: information security.
Undoubtedly, this is the reason why so many ordeals have been averted in the internet environment so far but even so there is still a mixed feeling – for both client and service provider – as to the necessity of such enforcement and as to the importance (and why not, the consequences) of sharing personal information.
In the “real life”, when you want to open a bank account, for instance, the institution demands you to prove that you have a sufficient income, and also provide a variety of documents and sign a good amount of contract pages so that everything you state to be credible is indeed trustworthy. By doing that – and given the fact that if you’ve reached for that financial organization somehow you are aware of its credibility – you are also assuming that particular bank has already fulfilled with its legal obligations to the State – otherwise it wouldn’t be operating – thus, the commitments that are being made are feasible.
In a virtual habitat, it is possible to admit that most of the people accessing the internet in this very moment are honest individuals that are only offering the best of their services or searching for solutions to their own needs. In this same direction it is reasonable to assume that most of the online exchange platforms established as a means of providing the service that you are looking for – the buying and selling of cryptocurrencies, for example – are owned by good faith entrepreneurs that have surpassed many stages and complied with a long list of requirements made by the State in order to finally put together a practical device capable of making your wishes come true in a matter of seconds.
So, the physical person is supposed to hold his/her end of the bargain by trusting the other part with as many information/documentation as possible so that the cryptocurrency exchange platform can process any request with as many proofs as possible and without carrying any doubts as to the veracity of such data.
It should be noted that sometimes it is not an easy task to verify and ultimately be certain that this or that cryptocurrency exchange platform is conducting a viable and credible KYC (Know Your Costumer) verification by requesting a considerable amount of documents, signatures and selfies. The most recommended action in this case should be a thorough research on the web, mainly focused on registered complaints involving the name of the company or altogether with consumer protection entities or any other law enforcement institutions.
At the same time, it is paramount for that enterprise to get a hold of such extensive proof not only because this would secure the company from any risk of getting involved with malpractice due to the nature of a suspicious relationship with an eventual felon/money embezzler/terrorist, but also because this way the person responsible for the registration and further sending of documents will be assured that no other person will be capable of misrepresentation since the remittance of such substantial proof (documents, signatures, selfies etc.) grants the cryptocurrency exchange platform with enough evidence that the individual on the other side of that screen is actually a real and trustworthy piece of information security.
Information security is a two-way road that ought to be paved with trust; a guarantee that synthetizes protection on both ends and must be pursued at any cost. Feel reassured while using the secure services of a cryptotrading platform like BitCanuck. Creating an account is very simple and it only takes a few minutes.