At Beaver Bitcoin, we’re committed to making Bitcoin accessible to Canadians while prioritizing your security and privacy. As a financial service provider in Canada, we’re required to comply with Know Your Customer (KYC) regulations to prevent fraud and financial crime. To meet these legal obligations in a way that respects your privacy, we’ve partnered with Persona, a trusted identity verification platform. Here’s how and why we use Persona for KYC—and what it means for you.
Why We Use Persona
Under Canadian law, companies like Beaver Bitcoin must verify the identity of their customers to comply with Anti-Money Laundering (AML) regulations. This process, known as KYC, helps ensure our platform isn’t misused for illicit activities, protecting both our users and the broader financial ecosystem. However, we understand that privacy is a top concern for our users. That’s why we chose Persona as our KYC partner—because it aligns with our values of simplicity, security, and respect for your personal information.
Persona stands out for its strong commitment to privacy and security. Founded by former Square and Dropbox team members, Persona is certified under rigorous privacy standards like GDPR, CCPA, and SOC 2. For us, these are key reasons we chose Persona—it ensures we meet legal requirements without compromising your privacy.
How It Works
When you sign up with Beaver Bitcoin, we’ll ask you to complete a quick and secure KYC process through Persona. Here’s what happens:
- Secure Submission: You’ll take a photo of your identification document (like a driver’s license or passport) via Persona’s encrypted platform. Your data is protected with industry-leading encryption, ensuring it stays safe during transmission.
- Fast Verification: Persona verifies your ID quickly, allowing you to start buying Bitcoin without unnecessary delays.