At Rabbit, we prioritize simplicity and ease of use. As a decentralized wallet and exchange, you do not need to complete any KYC (Know Your Customer) verification to create an account or use the core features of Rabbit, such as buying, selling, or trading crypto.
However, if you wish to use off-ramp or on-ramp services to convert crypto to fiat or vice versa (e.g., withdrawing funds to your bank account or purchasing crypto using a credit card), you will need to complete the KYC process through our trusted partners, MoonPay and Transak. This is required to ensure compliance with local regulations.
Here’s when KYC is necessary:
Using Off-Ramp Services (Withdrawing Funds to a Bank Account):
If you want to withdraw crypto to fiat and send it to your bank account, you’ll need to complete KYC through MoonPay or Transak.
Using On-Ramp Services (Purchasing Crypto with Fiat):
When you purchase crypto using fiat (like USD, INR) through MoonPay or Transak, KYC is required.
KYC Process Overview:
If you need to complete KYC, MoonPay or Transak will ask for personal details (such as name, address, and date of birth) and a valid government-issued ID. Verification is usually quick and straightforward.
In summary, KYC is only required if you are using specific fiat on-ramp or off-ramp services. For all other features on Rabbit, you can freely use the platform without completing KYC.