Know Your Customer (KYC) Policy

Here is a comprehensive information detailing how we handle your data, ensuring transparency about our policies, user agreements, and privacy practices to protect your information and govern your use of our services

Overview

TradeStack (“we,” “our,” or “us”) is committed to maintaining a secure, transparent, and compliant platform for buying and selling digital assets and making bill payments.

This Know Your Customer (“KYC”) Policy explains how we verify user identities, assess risk, and prevent fraud, money laundering, and other illegal activities

Our approach aligns with global best practices, including guidance from the Financial Action Task Force (FATF), and applicable local regulations, including those of the Central Bank of Nigeria (CBN) and the Nigerian Financial Intelligence Unit (NFIU).

Why KYC Matters

KYC helps us:

  • Confirm that users are who they claim to be
  • Protect users from fraud and unauthorized activity
  • Detect and prevent financial crime
  • Comply with legal and regulatory obligations

Who This Applies To

This policy applies to all TradeStack users who:

  • Buy or sell cryptocurrencies
  • Exchange gift cards for cash
  • Use bill payment services

By using TradeStack, you agree to comply with this KYC Policy.

Information We Collect

To verify your identity, we may collect the following:

Personal Information

  • Full legal name
  • Date of birth
  • Nationality
  • Residential address
  • Phone number and email address

Identity Verification

We may request a valid government-issued ID, such as:

  • National Identification Number (NIN) slip or card
  • International passport
  • Driver’s license
  • Voter’s card

Additional Information (When Required)

Depending on your activity or risk profile, we may request:

  • Selfie or liveness verification
  • Proof of address (e.g., utility bill, bank statement)
  • Bank account details (for payouts)
  • Source of funds or source of wealth

When KYC is Required

You may be required to complete or update KYC:

  • During account registration
  • Before completing certain transactions
  • When transaction limits are exceeded
  • If unusual or suspicious activity is detected
  • During account recovery or security checks

We may restrict access to certain features until verification is complete.

How Verification Works

  • Information provided is reviewed using internal systems and trusted third-party verification providers
  • We may cross-check your details against public records and databases
  • Biometric checks (e.g., selfie verification) may be used to confirm identity

TradeStack reserves the right to approve, reject, or request additional information at its discretion.

Risk-Based Approach

We apply a risk-based approach to compliance:

Risk Assessment

Users are assessed based on factors such as:

  • Geographic location
  • Transaction patterns and volume
  • Nature of activity on the platform
  • Politically Exposed Person (PEP) status

Customer Due Diligence (CDD)

All users undergo standard identity verification to establish a baseline risk profile.

Enhanced Due Diligence (EDD)

Additional checks may be applied to higher-risk users, including:

  • Additional documentation
  • Source of funds verification
  • Increased transaction monitoring
  • Manual review and approval

Ongoing Monitoring

We continuously monitor accounts and transactions to:

  • Detect unusual or suspicious activity
  • Ensure consistency with your profile
  • Prevent fraud and abuse

We may flag, delay, or suspend transactions pending review.

Sanctions & Prohibited Activity Screening

TradeStack screens users against relevant sanctions and watchlists, including:

  • International sanctions lists (e.g., UN, OFAC)
  • Local regulatory watchlists

Accounts associated with sanctioned individuals, entities, or jurisdictions may be restricted or terminated.

Refusal, Suspension, and Termination

We may take action if:

  • Required KYC information is not provided
  • Information provided is false or misleading
  • Suspicious or unlawful activity is detected

Actions may include:

  • Transaction delays or declines
  • Account restrictions
  • Suspension or permanent termination
  • Reporting to relevant authorities where required

Data Protection and Privacy

We take your privacy seriously.

  • Personal data is encrypted and securely stored
  • Access is restricted to authorized personnel only
  • We comply with applicable data protection laws

For more information, please see our Privacy Policy.

Record Retention

We retain KYC and transaction records for a minimum period required by applicable laws and regulations, typically at least five (5) years after the end of the customer relationship.

Updates to This Policy

We may update this KYC Policy from time to time to reflect:

  • Changes in regulations
  • Improvements to our processes
  • Evolving risk standards

Where required, users will be notified of significant updates.

Contact Us

For all law enforcement-related inquiries:

Email: usetradestack@gmail.com

Company: TradeStack

By using TradeStack, you acknowledge that you have read, understood, and agree to this KYC Policy.

Download & Get Started

Get Started with
Tradestack — It’s
Fast & Secure

Trade gift cards and crypto and get settled instantly.

App Dashboard Preview
WhatsApp