Gryfyn
  • Welcome to Gryfyn!
  • Getting Started
    • How to create a Gryfyn account?
    • Where can I access Gryfyn?
    • What Networks and Assets do Gryfyn support?
  • Country of Residence
    • Why is your country of residence needed?
    • Which countries are not supported by Gryfyn?
  • Interacting with Decentralised Apps
    • How do I connect to a decentralised app (dApp) with Gryfyn?
    • What is WalletConnect?
    • What is signing?
  • Compliance
    • Why do I have to verify myself?
    • What if I want to remain anonymous?
    • Where are my personal data stored?
    • How do I verify myself?
  • Security
    • How do I setup 2FA?
    • Why is 2FA needed to send assets?
    • How can I reset my 2FA?
    • Is a Gryfyn wallet secure?
  • learn more
    • What is a private key?
    • What is blockchain?
    • What are the benefits of blockchain?
    • What is an NFT (non-fungible token)?
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On this page
  • Why is your country of residence needed?
  • What is a country of residence?
  • What is the difference between custodial and other wallets?
  • Other wallets
  • Gryfyn
  • Which countries are not supported by Gryfyn?
  1. Country of Residence

Why is your country of residence needed?

Why is your country of residence needed?

Disclosing your country of residence is an important step because we provide a custodial wallet solution (custodial wallets are explained below). Accurately determining your country of residence allows us to follow relevant Anti-Money Laundering (AML) laws, tax reporting, regulatory compliance.

Further to this, you will not be able to withdraw any assets until your Know Your Customer (KYC) verification has been fully completed and approved. You will only be allowed to deposit.

What is a country of residence?

A country of residence is a jurisdiction where you reside, i.e. where you are considered to be a resident. As part of our KYC process, we will ask you to submit proof of residence with your full name and residential address clearly displayed. Examples include:

  • utility bill mailed to your residential address in the last three months;

  • bank statement mailed to your residential address in the last three months;

  • lease agreement;

  • employer’s certificate for residence proof;

  • house purchase deed

What is the difference between custodial and other wallets?

Other wallets

In order to set up a digital asset wallet, a private key (your unique key phrase that looks like a combination of letters and digits) needs to be created and securely stored. Non-custodial (or self-custodial) wallets, such as MetaMask, require you to safekeep the private key by yourself. This means you have full control and responsibility, and will have to take precautions to protect your funds. If you lose the password you set up for your wallet or the key phrase, you will lose access to your assets forever.

Gryfyn

Custodial wallets like Gryfyn keep your private key and ensure your funds are safe. This allows you to conveniently and securely store your assets without the risk of losing your private keys. We can still help you regain access to your assets even if you lose your wallet’s login credentials.

See the page linked below for more information.

Which countries are not supported by Gryfyn?

See this page here:

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Last updated 1 year ago

Which countries are not supported by Gryfyn?