Introduction:
Obtaining approval for your Pi KYC application has become a concern for many pioneers, with some facing delays of up to 8 months. In this comprehensive guide, we will delve deeper into the KYC process, provide additional insights, and offer tips to expedite your application approval. Our goal is to empower you with a more profound understanding of the process and the factors influencing it.
Why KYC Matters:
Before diving into the application process, let’s revisit why KYC is a crucial step for Pi Network pioneers:
Regulatory Compliance
KYC helps Pi Network adhere to anti-money laundering (AML) and KYC regulations imposed by governments. These regulations aim to prevent illegal activities such as money laundering and fraud, ensuring that Pi Network operates within the legal framework.
Security Enhancement
KYC verification adds an extra layer of security by confirming users’ identities. This process safeguards the platform against fraud and unauthorized access, ultimately protecting the community.
Building Trust
Requiring Pi KYC verification demonstrates a commitment to user legitimacy. It instills trust among users and potential investors, as they can be assured that Pi Network is taking measures to ensure the authenticity of its user base.
Requirements and Eligibility Criteria for Pi KYC Application
Now, let’s delve deeper into the eligibility criteria and requirements for a successful Pi KYC application
Government-Issued ID Card
Pi Network accepts specific government-issued ID cards, such as a Passport, Driver’s License, or National ID Card (either premium or standard). During the application process, you’ll need to capture clear images of your chosen ID card.
Age Restriction
Applicants must be 18 years of age or older to apply for KYC verification
Liveliness Check
This step involves a facial recognition check using your phone’s camera. It serves the dual purpose of verifying that you are a real person and ensuring that the ID document you have submitted belongs to you.
Meeting these requirements accurately is critical to expediting your KYC application, which can be approved within 15 minutes if all the information is correct. However, if discrepancies or inaccuracies are found, approval may be delayed, potentially taking weeks or even months. Additionally, you must mine at least 30 consecutive times before becoming eligible to apply for KYC.
Read Also: 8 Easy Steps On How to Transfer Pi to Mainnet Wallet
How to Obtain Your Premium NIN Card For KYC (For Nigerian Pioneers):
To further facilitate your KYC approval, especially for Nigerian pioneers, here’s a more detailed breakdown of obtaining a Premium NIN (National Identification Number) card through the NIMC (National Identity Management Commission) app.
The above images show how your Premium NIN Slip should look like before applying for Pi KYC
Step 1:
Install the NIMC MobileID App: Visit your app store (Play Store or App Store) and install the NIMC MobileID app on your smartphone.
Step 2:
Log In with Your NIN: Launch the app after installation and login using your NIN (National Identification Number) login details, including your registered phone number.
Step 3:
Verify with OTP: An OTP (One-Time Password) will be sent to your mobile number; enter the PIN to proceed.
Step 4:
Print NIN Slip: Within the NIMC dashboard, locate the option “Print NIN slip” and select it.
Step 5:
Provide USERID and OTP: A pop-up with your USERID and OTP will automatically appear; input your USERID and the OTP
Step 6:
Pay for Premium NIN Slip: Choose “Print Premium Slip” and proceed with the Remita payment of ₦1000.
Step 7:
Validate Payment: After making the payment, return to the “Pay With Remita” display and click “I have paid, Check Status.” Input your Remita reference number and validate the payment.
Step 8:
Download and Print: Download the PDF document and visit a cyber café to print and laminate it.
How to Apply for Pi KYC
Now, let’s explore the Pi KYC application process in greater detail
Step 1:
Download Pi Browser App: Begin by downloading the Pi Browser App which serves as the hub for all Pi applications, including the KYC app.
Step 2:
Log In and Access KYC: After installation, log in to the Pi browser through the Pi mining app and navigate to the KYC application section.
Step 3:
Review Instructions: Carefully read and understand the provided instructions, ensuring you are aware of the necessary documents for the application.
Step 4:
Choose Your Country: You will be prompted to choose your country from the dropdown menu. Select your country and proceed.
Step 5:
Document Selection: Choose “Premium NIN Slip” as the document type for your application in this case ( if you have another approved document, use it)
Step 6:
Capture ID Images: Follow the on-screen prompts and instructions to capture clear images of your ID card, both front and back.
Step 7:
Provide ID Details: After submitting the ID images, provide accurate details corresponding to the information on the ID card you have used.
Step 8:
Liveliness Check: Complete the liveliness check, which verifies your identity using facial recognition technology.
How Long Does It Take to Get KYC Approved in Pi Network?
The duration for KYC approval in the Pi Network varies depending on several factors:
Accuracy of Information: If all information provided is accurate and the documents submitted are genuine, your KYC can be approved within 15 minutes.
Verification Process: In some cases, additional verification checks may be required, leading to longer approval times. Delays can range from weeks to even months
To stay informed about the status of your KYC application, it’s essential to regularly check your application.
Types of Pi KYC Application Status
Understanding the various KYC application statuses is crucial
Tentative KYC Approval
If your KYC result comes out as tentative approval, it indicates that additional verification checks are needed to attain full approval. Your Pi coins cannot migrate to the mainnet until these verifications are completed.
Full KYC Approval
With full KYC approval, you gain access to all Pi Network functionalities. This includes the validator role and the ability to migrate your Pi to the mainnet. The time required for full approval may vary based on factors such as validator capacity in your region and the volume of KYC submissions.
Conclusion
Completing your Pi KYC application and achieving swift approval is vital to unlocking the potential of the Pi Network. By following the steps outlined in this guide and ensuring strict adherence to requirements, you can expedite the KYC approval process and enjoy the benefits of Pi Network more quickly and securely. Remember to regularly check your KYC status to stay informed throughout the process. With this knowledge and preparation, you’ll be well-equipped to participate fully in the Pi Network and its promising future.
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