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In Crypto Assets trading, the identification verification during the C2C withdrawal process has always been a highly followed issue. Many platforms emphasize the need to confirm the full name of the trading counterpart to ensure fund safety and Compliance. However, when trading using Alipay, users face a tricky problem: the platform only displays the last character of the counterpart's name.
This restriction poses significant challenges for both parties in the transaction. How can necessary identification verification be completed when only part of the name is visible? This not only increases the uncertainty of the transaction but may also provide opportunities for potential fraudulent activities.
In the face of this predicament, traders have to seek other verification methods, such as requiring the other party to provide more identification information or using other payment channels that can display full names. However, these methods may increase the complexity and time costs of transactions.
With the continuous development of the Crypto Assets market, finding a balance between protecting user privacy and ensuring transaction security has become a challenge that trading platforms and payment systems need to face together. In the future, we may need to see more innovative identification solutions to meet the growing demand for C2C Crypto Assets transactions.