KYC Verification: A Complete Guide for Crypto Investors

KYC Verification (from the English “Know Your Customer”) is a mandatory user identification process implemented by all major cryptocurrency exchanges. If you take trading and fund withdrawals seriously, understanding this process is critically important. Let’s break down what verification is for, what is required, and how to pass it successfully.

What is KYC Verification and Why Is It Needed?

KYC verification is not just bureaucracy. It is a set of measures to assess risks, confirm your identity, and comply with international anti-money laundering (AML) requirements. All regulated crypto exchanges are required to perform it.

Why does every exchange require KYC verification? There are several reasons:

• Regulatory compliance: Regulators worldwide require knowing who is conducting financial transactions. Without KYC, exchanges risk losing their licenses.
• Prevention of crimes: Verification helps detect attempts at money laundering, terrorism financing, and other illegal activities at an early stage.
• Account security: Verified identity makes it easier to recover your account if access is lost.
• Access to full functionality: After KYC, you can buy crypto with fiat, participate in Earn programs, and increase withdrawal limits.

KYC Verification Levels and Limits

Most exchanges use a tiered verification system:

Basic level (no full KYC) — limited withdrawal limits, usually up to 20,000 USDT per day and 100,000 USDT per month.

Standard KYC level — requires identity confirmation and risk assessment. Opens daily withdrawal limits up to 1-2 million USDT depending on the exchange.

Advanced level — adds proof of address. Limits increase to 2-5 million USDT per day.

Pro and VIP statuses — available to active traders and large investors. Limits can reach 50-60 million USDT per day.

All limits are calculated in USDT equivalent, and daily limits reset at 00:00 UTC each day.

What Documents Are Needed for KYC Verification?

For standard KYC, the following documents are required:

Identity proof:

• National passport (of your country of citizenship)
• National ID card
• Driver’s license
• Residence permit

Important: Only original documents are accepted. Photos of physical originals, scans, and electronic copies are suitable, but screenshots are not accepted.

For advanced verification, proof of address is additionally required, issued within the last 3 months:

• Utility bills
• Bank statements
• Tax declarations
• Internet or cable TV bills
• Official address certificates

What is not accepted: Additional national passports, student visas, tourist visas, mobile phone bills, insurance policies, handwritten documents.

KYC Verification Process: Step-by-Step

Processing time: Usually about 15 minutes, but in complex cases, it can take up to 48 hours. Make sure you have the necessary documents in good quality beforehand.

How to prepare:

1. Choose the correct document issued by your country (citizenship matters, not residence)
2. Take a clear photo of the original in good lighting without glare
3. Ensure the entire document is visible and not distorted
4. For your face: center it in the frame, no masks or sunglasses

Process:

1. Go to the verification section on the exchange
2. Upload the document photo
3. Complete face verification (usually a selfie or video)
4. Fill in additional info if required
5. Submit for review

Common Reasons for KYC Rejection

Even if your documents are in order, verification can be declined:

Most common issues:

1. Duplicate accounts — a user can only pass KYC on one account. If the system finds other verified profiles with your data, it will be rejected.
2. Face recognition failure — face not centered, poor lighting, accessories covering face. Solution: retake in good light, ensure face is clearly visible.
3. Document issues — glare, reflections, corners cut off, blurry image. Solution: upload a sharp, original photo without distortions.
4. Incorrect format — uploaded screenshots, copies, or electronic versions instead of original photo.
5. Invalid document — e.g., student visa instead of passport, or national ID not issued by your country.
6. Violation of terms — under 18, residing in restricted countries, etc.

Data Security During KYC

Exchanges use cryptographic methods to protect your data. All information provided:

• Is stored encrypted
• Protected by multi-layer security systems
• Used solely for identity verification
• Not shared with third parties for marketing

You can rest assured: your personal data is not a product for sale.

What to Do if Verification Is Delayed?

If after 48 hours you haven’t received a decision:

1. Contact exchange support via the support form
2. Obtain the application number in the automatic reply
3. Wait for support team response within one business day
4. In your message, describe details: which documents you uploaded, when, and any issues encountered

Delays often occur during high system load or when additional checks are required for certain regions.

KYC Verification on Sub-accounts

If you use sub-accounts for trading, note: KYC can only be completed on the main account. Sub-accounts do not require or support independent verification—they inherit the main account’s status.

If you need to transfer KYC verification to another main account, contact support to check if such transfer is possible.

Can You Update KYC Data?

Yes, data can be updated if:

• Your account has completed KYC for individuals
• It is the main account (not a sub-account)
• The account is not blocked
• Data is not currently being updated or transferred

Update process takes about two hours. It is similar to the initial verification.

Summary

KYC verification is not a complicated process if you prepare properly. Two good-quality documents, correct data, and you’ll pass in 15 minutes. Afterward, full access to all exchange features opens up: fiat purchases, high withdrawal limits, access to special programs. Use the correct documents, photograph them well, and you’ll pass KYC on the first try.