What is KYC and 2FA?

Maintaining the security of our clients 'assets has always been one of Monnos' priorities, both in the development of technological solutions that hinder the actions of malicious agents, and in the availability of resources so that users themselves can use identity validation mechanisms, such as 2FA (two-factor authentication) and KYC (Know Your Customer).

What is 2FA?

2FA is additional information that is used to validate access to a particular service.
Ex: PIN code, password, fingerprint, voice recognition, etc.

What is KYC?

KYC synthesizes a set of practices and information so that the company can get to know its client more deeply, confirming his identity and avoiding possible crimes of falsehood, fraud, and so many others.

Why is using 2FA at Monnos and activating your KYC essential for your account security?

In addition to the protection against malicious agents that 2FA brings, it is common that in the rush of everyday life you may end up forgetting your password and, in this specific case, Monnos would not be able to validate your identity if you did not have KYC activated, therefore its resources would be permanently stuck on the platform. KYC is the guarantee Monnos needs to ensure the veracity of its identity, so it is the main security factor on the platform.

Attention! Your phone number is linked to your Monnos account, if you are going to change the phone number, before deactivating the old one, contact support to make the number change. If you lose access to your number and do not have KYC, it will be impossible to recover your account.

How to activate your 2FA on Monnos:
1 - Access the Your Account menu, you access this menu from your account by clicking on your user photo on the Monnos app home screen. On this screen, click on Security Options.

2 - In the Security Options, click on Google Authenticator.

3 - If you do not have Google Authenticator installed on your device, clicking the Install button will redirect you to the store to download. After downloading and installing Google Authenticator or Authy (similar program that performs the same task) click Next.

4 - On this screen you will see your 2FA Backup and Access Key.

IMPORTANT: Write this code down in a safe place, preferably on a paper and very well kept, in case your device is lost, the only way to recover the account of the two-step authenticator is through this code.

Reminder: If you do not have KYC (Know Your Custormer) verified at Monnos and for any reason you lose your access to 2FA, we will not be able to recover your account under any circumstances. That is why it is very important to write down the code safely and perform KYC to have a verified account.

After securely copying your Backup and Access Key, open Google Authenticator or Authy.

5 - In Google Authenticator or Authy, you will add the backup code from step 4, so it will be saved on your device. After entering, it will generate a code that is changed every 30 seconds.

This 6-digit code will be required to perform all security operations of the Monnos application, such as logging in, making a withdrawal, changing security settings and you will be much more secure.

 
6 - Returning to the Monnos App, he will perform the TOTP verification via SMS once again. At the moment you will receive the SMS and just type it in the box below.

7 - Afterwards, the Google Authenticator code will be requested. To access, just open Google Authenticator.

Reminder: Before copying the code, check the time left for it to still be functional, if not, it may happen that when you finish typing it it is already expired and you will need to copy the new code generated.

8 - Now, to confirm all security steps, you will be asked for your password, just enter it and move on to the next screen.

 

9 - Ready! Your account is now much more secure!
Don't forget to take KYC to further improve your security!
 

How to activate your KYC on Monnos:

1 - Access the Your Account menu, you access this menu from your account by clicking on your user photo on the Monnos app home screen. On this screen, click Personal Information.

2 - After logging in and viewing your information, click "Check your account limits".



3 - On the next screen there are details of the limits and actions that when checking your documents your account will have. Click Continue.

4 - On the next screen there are details of the limits and actions that your account will have when verifying your documents. Click Get more limits.




5 - Very important step, select the country where you live and where your phone number code is. If the country does not match your phone number, your account will not be verified.

If your country is not on the list, you can check here if it is a country that Monnos is restricted from operating. And unfortunately you will not be able to proceed.

6 - On this screen, you can change depending on the country you select and ask for a document number. In addition to the question whether you are or have been exposed politically in the past 5 years. After completing your document, if requested, proceed.



7 - In this next screen, you will select the document you want to use for identification, these documents change for each country. Then select one that is requested and that you have in good condition and the most current one that you have.

8 - From now on, our verification provider will ask you for photos of the selected documents. Proceed as requested.

Important! So that there are no flaws in the verification, the photos of your documents must be legible, your selfie (photo of your face) must be well lit and clear.

Ready! Within hours you will receive a message that your documents have been approved and you will have KYC verified. Now your limits and security are greater.

If there is a failure in the verification, please try again, if it persists please contact our Support Chat on our website or application.