KYC Loophole Exploit — Applying for My Palau Digital Residence ID
Snapshots of the entire process!
Snapshots of the entire process!
I am now a proud Digital Resident of the island nation of Palau!
I can’t move there. I can’t vote. I am not a citizen of Palau.
Why did I do this? What the heck is this?
I am a USA resident, but I want to use crypto exchanges that do not permit USA residents.
So I need to either become a dual citizen of another country, or the next best thing - a digital resident. (Not a citizen, but a resident with an address!)
Palau offers a convenient way to make that a reality without complicated travel arrangements and legal hoops.
I am now waiting for my ID card to arrive through the mail.
First I created an account on the RNS website that facilitates the service :
rns.id - Web 3.0 Digital ID
RNS (Root Name System) is the official technology provider for the Palau Digital Residency Program, and the world's…rns.id
Then I clicked Apply Now for $248.
After that I was taken through the basic application which will asked for my name, address, local identification photos (I used my DL), and then they verified my face with a camera and asked me to rotate my head.
All the standard modern KYC (Know Your Customer) stuff.
Then I received the confirmation email with the expectation of future follow ups:
It is important to note — at this stage, the SUBSCRIPTION has been approved, but this is only tentative at first. You are not yet an official digital resident.
Next you are going to go through more verification if needed, which happened to me when they asked for a better photo.
You cannot just respond to the email like they say, I kept getting repeat messages through email until I logged back into my RNS account online, and went to my active application.
If this happens to you, click “Continue Application”. You will then have the opportunity to upload a new photo and re-submit.
That wasn’t exactly clear in the email communication.
So I submitted a new photo, but I was smiling, which apparently is a no-no, so I had to resubmit yet again.
After the third resubmission, they finally accepted it and moved my application to the next phase.
Once you clear that phase, there is one more email that let’s you know you have been approved, and that the last phase is approved by the Palau Government.
Once that is complete, the last email will tell you that you have been approved and that your ID is being created and shipped.
You can check the status of your shipment by signing into the dashboard.
The total application process from start to finish was less than 1 week.
I started the application on March 8th, and was given final approved by Palau on March 15th.
My ID has printed and is being prepared for shipment.
The next email I will receive should be a shipment notification.
According to people I know who have used it, it takes about 30 days or so to receive it in the mail.
Exciting times. I can get back on my favorite exchanges very soon, and also possibly revive a few ASIC miners of mine that have been bricked by being locked out of a foreign exchange!
Thank you for reading!
Until next time….
Onward and Upward Everybody!
-Chris
Automated Income Lifesyle w/ Chris Morton YouTube
#cryptotrading #digitalID #palau #kyc #cryptoexchange #cryptocurrency #trader