Simple the principles of KYC, fight against money laundering

Simple Steps to Buy Stellar in IndiaStep 1) Register:  Sign Up with BitBns.    Then enter personal information like  name, surname and email id details for account creation.. Step 2) ID Proofs: Next, submit  PAN card, bank account details and Aadhaar card photocopies.(Residents of Assam can upload Driving license photocopy) for continuing with background verification process.

Step 3) On successful verification of uploaded documents (which will take 1 working day’s time). Investors will be notified via email.Step 4) Finally investors can Transfer funds into their BitBns account using NEFT/RTGS/IMPS and initiate placing their trading orders!                                       Remember :Depending on your purchase volume and other parameters, we at BitBns must verify that you are the owner of the payment, our service adheres to the principles of KYC, fight against money laundering and bank fraud.For payment by NEFT/RTGS/IMPS the delay is approximately 24 – 48h for receipt of payment.Some interesting features of Stellar :Stellar is a non-profit organization whose mission is to provide access to financial services for all. David Mazieres is part of the project and is behind a new cryptocurrency protocol.

Named SCP (Stellar Consensus Protocol), this new protocol aims to make financial services cheaper and more accessible in developing countries. Originally, the system developed by Stellar was similar to the one experienced by start-up Ripple Labs whose goal was to make cross-border transactions faster and less expensive. Due to a technical problem a little over a year ago, David Mazieres decided to invent his own protocol.The protocol governing Bitcoin relies on minors supposed to deploy sufficient computing power to guarantee the integrity of transactions on the network in exchange for compensation in bitcoins. However, the verification time of a transaction is currently 10 minutes. Starting from this observation, David Mazieres decided to remove the mining of the protocol. People with the software will need to designate trusted users to verify the integrity of a transaction, and all of these trusted relationships are public.

People able to invest in servers to undermine are therefore the trusted people in the Bitcoin network. With the system of Mazières, each person can choose the relations of trust. Finally, SCP relies on stronger cryptography in the absence of minors.The Stellar project is open, each interested person can contribute to the development of an even stronger registry by modifying the code and also has an API to integrate it with other applications.

Project advisors include Stripe, founder Patrick Collison, MIT Media Lab director Joi Ito and Jackson Palmer, the founder of Dogecoin.BitBnsBitBns is an Indian startup launched based out of Bangalore that is trying to be in the forefront of cryptocurrency revolution in India.At the core of BitBns lies its dedicated and passionate team striving to build a world class cryptocurrency ecosystem. We at BitBns are doing our bit towards nurturing a cashless economy.