We are new to accepting cryptocurrency payments for legit service. When we receive a crypto payment, we want to make sure the sender and funds are reasonably safe before transferring them to our Kraken account.
We currently use Trust Wallet and receive USDC over the BNB Smart Chain (BEP-20). I checked the addresses using Blockchair, but it shows them as BNB addresses rather than separate USDC addresses. From what I understand, this may be normal because USDC on BNB Smart Chain is a BEP-20 token and uses the same BNB Smart Chain address.
We have used four different Trust Wallet addresses to receive payments from four different buyers. However, when checking them with Match Systems, all four show a risk score of around 50/100.
Can anyone with experience in crypto compliance advise on the following?
We currently use Trust Wallet and receive USDC over the BNB Smart Chain (BEP-20). I checked the addresses using Blockchair, but it shows them as BNB addresses rather than separate USDC addresses. From what I understand, this may be normal because USDC on BNB Smart Chain is a BEP-20 token and uses the same BNB Smart Chain address.
We have used four different Trust Wallet addresses to receive payments from four different buyers. However, when checking them with Match Systems, all four show a risk score of around 50/100.
Can anyone with experience in crypto compliance advise on the following?
- How should we properly check the source of funds or sender's wallet before accepting a payment?
- Is a 50/100 risk score something we should be concerned about?
- How can we determine whether the received USDC is reasonably safe to transfer to Kraken?
- Could Kraken hold or restrict the funds/account because of the transaction history associated with the sender's wallet?
- What tools or checks should a small business use before accepting crypto payments?
- Why does a USDC transaction on BNB Smart Chain appear under a BNB address rather than having a separate USDC address?
