Buy Civic

At a time when digital identities are becoming increasingly important, Civic offers an innovative solution for identity verification. Civic is a decentralized identity management platform that allows users to verify their identity in a secure and efficient way without sharing unnecessary personal information with third parties.

What’s unique about Civic is that users decide for themselves what data they want to share. For example, instead of providing all of your personal information to prove you’re over 18, Civic lets you simply confirm your age. This concept, known as “self-sovereign identity,” gives users full control over their own data. This approach significantly reduces the risk of data breaches and unauthorized use of personal information.

Civic uses blockchain technology to make identity verifications secure and transparent. Thanks to blockchain, these verifications are decentralized and immutable, meaning they are not dependent on a single party and cannot be manipulated. For businesses and organizations, Civic offers an efficient way to onboard users while complying with regulations such as Know Your Customer (KYC) and Anti-Money Laundering (AML).

One of Civic’s key products is Civic Pass, an on-chain solution that gives users access to various decentralized applications (dApps) by verifying their identity in a secure and privacy-conscious way. Civic Pass is widely used in the Decentralized Finance (DeFi) sector, where regulatory compliance is becoming increasingly important. Civic enables financial institutions and users to access DeFi platforms while meeting regulatory requirements.

Additionally, Civic offers solutions for non-fungible tokens (NFTs) and other blockchain-related applications. For example, Civic Pass prevents bots from gaining unfair advantages in NFT auctions by using artificial intelligence (AI) to authenticate users. Developers can use Civic’s tools to combat fraud, such as identity theft and bot use.

The Civic ecosystem is supported by the Civic Token (CVC), an ERC-20 utility token that facilitates transactions within the network. CVC is used to pay for identity-related services between users and validators on the platform. By using a utility token, the system remains transparent, secure, and efficient.

Who founded Civic?

Civic was co-founded in 2015 by Vinny Lingham and Jonathan Smith. Lingham, a serial entrepreneur, previously founded Gyft and invested through Newtown Partners. He was also an investor in the South African version of Shark Tank. Jonathan Smith, Civic’s CTO, has over 15 years of banking experience, having worked at companies such as Deloitte and HSH Nordbank. Together, they have built Civic into an innovative identity management platform. Civic’s team of approximately 38 employees is primarily based in the San Francisco Bay Area.

Civic offers several applications that provide significant benefits to both end users and developers:

• Identity verification: Civic allows users to securely verify their identity without sharing unnecessary personal information. This is especially useful when accessing services that require age, location, or other identifying factors.
• Civic Pass for dApps and DeFi: Civic Pass allows users to securely access decentralized applications (dApps) and DeFi platforms while meeting KYC and AML requirements.
• NFT security: Civic is used to detect and exclude bots during NFT auctions, making marketplaces fairer and more trustworthy for buyers and sellers.
• Secure sealth verification: Civic provides solutions to securely share health information, such as COVID-19-related data, without compromising user privacy. This is important for situations where health information needs to be verified.

The key feature of Civic is that users retain full control over their personal data, also known as “self-sovereignty.” This means that you decide what information is shared and with whom, giving you control over your digital identity at all times. Blockchain technology plays a major role in providing this self-sovereignty.

Civic Pass and identity verification

One of Civic’s key products is Civic Pass, an on-chain identity verification solution. Users verify their identity just once and can then reuse this verification across any platform that supports Civic Pass. This speeds up the onboarding process for both users and businesses. Civic Pass combines AI and human verification to confirm users’ identities, preventing fraud and ensuring compliance with KYC and AML regulations.

Security and privacy

One of Civic’s core principles is that no personal data is stored on the blockchain. Instead, Civic uses cryptographic hashes, meaning that only an encrypted representation of your data is on the blockchain. Even if the blockchain is public, no one can access your personal data. This minimizes the chance of data leaks, because no sensitive information is stored in a central location.

Users manage their data through the Civic app, where all personal information is securely stored on their mobile device. Access to this data can only be granted via biometric authentication, such as fingerprints or facial recognition. This keeps your personal information protected even if someone has physical access to your device.

The Civic Token (CVC) plays a crucial role within the Civic ecosystem as a utility token. It is primarily used for identity-related transactions between users, validators, and service providers. When a user needs to verify their identity, they can use CVC to pay a validator for this service. Validators receive CVC tokens as a reward for verifying identity data, such as checking documents or performing KYC (Know Your Customer) checks.

Users can also earn CVC tokens by actively participating on the platform, such as inviting new users or completing specific actions, such as signing up for a service. The total maximum supply of CVC tokens is limited to 1 billion tokens, meaning that there will never be more than 1 billion CVC tokens in circulation.

Civic stands out through a combination of unique features and characteristics:

• Self-sovereign identity: Civic allows users to share only the information they need, protecting their privacy and giving them full control over their personal data.
• Civic Pass: Civic provides an integrated on-chain identity solution that enables KYC and AML checks without compromising user privacy.
• Decentralized storage: Unlike many other identity solutions, Civic does not store personal data on the blockchain. Instead, a cryptographic hash is stored, which provides additional security and prevents sensitive information from being accessed by third parties.
• Broad application: Civic's technology is not limited to the crypto space. It can also be applied to identity and age verification outside of the blockchain, for example in e-commerce or online services.
• Fraud protection: Civic uses artificial intelligence and human verification to prevent fraud, such as identity theft and the use of bots.

You can purchase Civic (CVC) at Bitvavo. Our platform is suitable for both new and experienced traders. Follow these steps to buy Civic via our website or mobile app:

1. Create an account or log in to your existing Bitvavo account.
2. Deposit money by clicking "Deposit".
3. Go to the Civic purchase page.
4. Enter the amount in euros you want to invest, or select the number of CVC tokens you wish to purchase and click "Buy".

Civic fees are directly linked to the current market value. Once your purchase is complete, the CVC tokens will be automatically added to your Bitvavo account, where you can easily manage or trade them.

You can safely store your Civic tokens in your Bitvavo account. The majority of customer funds are stored by Bitvavo in offline cold storage, which provides an additional layer of security. To further secure your account, it is recommended to enable two-factor authentication (2FA). This will require you to enter not only a password, but also an additional security code when logging in.

You can also choose to store your Civic tokens in a software or hardware wallet. If you decide to move your CVC to an external wallet, always verify the wallet address via your Bitvavo account. You can then easily transfer your tokens to your external wallet.