Clarifying Sidra Bank’s Mass P2P Verification Process

Sidra Price Calculation 

Sidra Bank P2P News

SIDRA is a cryptocurrency project that aims to provide a fast, secure, and scalable blockchain platform. SIDRA is also a tradable asset, and its price has been steadily increasing in recent months. There is a new way to mine SIDRA for free every day using the Sidra Chain.

How does Sidra Bank mining work?
Once you have an account, you can start validating the mining process using your mobile device. Our mining process uses a proof of work algorithm, which ensures that all transactions are secure and transparent. As a validator, you will earn Sidra Coins based on your contribution to the mining process.

People also ask
Is Sidra Bank mining is real or fake?

Is it a scam? Sidra is a genuine project and is not a scam. We are committed to transparency and compliance with all relevant laws and regulations, including those set forth by the FATF. 

The latest update sheds light on the decentralized Sidra Bank’s Mass P2P Verification.

Confusion Surrounding P2P Verification

Many individuals have voiced their confusion regarding Sidra Bank’s operational procedures, particularly regarding peer-to-peer (P2P) verification.

Tweet Sparks Uncertainty

A recent tweet by Sidra Bank stated that P2P verification would be necessary for accounts holding balances exceeding $1000. This announcement left numerous members perplexed, especially concerning the conversion rate of Sidra Coin to USD.

Conversion Rate Clarity

Sidra Bank clarified that 1000 Sidra is indeed equivalent to $1000 USD, indicating that 1 Sidra equals $66.6 USD. Consequently, individuals holding 16 Sidra or more are required to undergo P2P verification, while others can proceed without it. 

Progress in Verification

The bank proudly announced that it has successfully verified 35,000 users and continues to process applications. Users are reminded to ensure the cleanliness and clarity of their submitted documents and to patiently await verification.

KYC Verification at the Core

It appears that the basic Know Your Customer (KYC) verification process is what’s being referred to in the P2P verification requirement.

Clarification from the Team

In response to the multitude of inquiries and confusion, the Sidra Bank team took to Twitter to provide further clarification on verification requirements:

Verification Requirements Clarification:

• Users with access transactions totaling less than $1000 USD are exempt from P2P verification.

• Users with a cumulative transaction value exceeding $1000 USD will be prompted to engage in P2P verification with other users from their religion.”

As Sidra Bank continues to navigate its decentralized model, clear communication and transparent processes remain pivotal in ensuring user understanding and satisfaction. Read More