KYC is the foundation of identity verification in the cryptocurrency industry

KYC is a procedure that has become the standard in the cryptocurrency industry and the financial sector as a whole. The abbreviation stands for “Know Your Customer” and represents a set of mandatory procedures to verify users’ identities and assess related risks. KYC is not just a formality but a critically important tool for protecting both users and the platforms on which they conduct transactions.

KYC is not just a requirement — it’s multi-layered protection for your assets

KYC is the foundation for preventing fraud, money laundering, and the financing of illegal activities. Platforms offering services in the cryptocurrency space are required to implement such checks in accordance with international regulatory requirements and anti-financial crime standards.

The verification system is built on multiple levels of complexity. At the basic level, often called standard verification, identity confirmation and initial risk assessment are required. Advanced levels include address verification and a more detailed analysis of the user’s financial profile. The highest levels are designed for large traders and involve an expanded comprehensive check.

KYC is a process that grants access to the full platform functionality

Each verification level directly impacts the user’s operational capabilities. Without verification, limits are significantly restricted: daily withdrawal limits do not exceed 20,000 USDT, and monthly limits are 100,000 USDT. After completing standard verification, the daily withdrawal limit increases to 1,000,000 USDT with no monthly restrictions.

For users with higher needs, there are extended verification levels (VIP statuses and professional accounts), providing limits up to 60,000,000 USDT per day. These increased limits apply to cryptocurrency transactions calculated in USDT equivalents and are updated daily at 00:00 UTC.

KYC involves documents — the basis of the identification process

To complete verification, you must provide original documents issued by your country of citizenship. KYC requires photographs of physical originals, not electronic copies or scans. Acceptable identity documents include:

• Passport
• National ID card
• Residence permit
• Driver’s license

Documents from specific countries, student visas, and travel documents are not accepted.

In addition to identity documents, KYC also involves address verification. Proof of residence can include utility bills, official bank statements, registration certificates, internet bills, or tax declarations. An exception is an ID document; all other papers must be dated within the last three months. Documents older than this will be rejected.

Prohibited documents include: passports of other citizens, mobile phone bills, insurance policies, medical bills, handwritten receipts, and company letters.

KYC is time — from 15 minutes to two days

The standard verification process takes about 15 minutes. However, depending on the complexity of the check and the volume of requested documents, it can take up to 48 hours. KYC is a comprehensive procedure requiring careful analysis of the information.

If verification is not completed within two days, it is recommended to contact support. After submitting a request, the user will receive a reference number and a response from the support team within one business day.

KYC is security — protecting personal data during verification

All provided data is stored in encrypted form, adhering to confidentiality principles and strict security measures. KYC is a procedure where information is used solely for identity verification purposes. Data is not shared with third parties for marketing or other purposes without user consent.

Platforms employ modern cryptographic encryption methods and multi-layered protection to ensure confidentiality. This is standard practice compliant with international data protection regulations (GDPR and similar standards).

KYC is rules — why verification can be rejected

The verification process can be declined for several main reasons. KYC is a check where the system identifies risks associated with account usage. Common reasons for rejection include:

1. Detection of other verified accounts with identical personal data. A user can only be verified once per account.
2. Facial recognition issues — the face must be centered in the video throughout the verification.
3. Poor document quality — the document must be clearly visible without glare, reflections, or distortions.
4. Submitting a digital copy instead of a photo of the original — only photos of physical documents are accepted.
5. Non-compliance with requirements — the document issued is not from the country of citizenship or is not among the accepted types.
6. Violation of conditions — user is under 18 years old or registered from a restricted region.

KYC is one account — verification rule for each user

KYC is a system that allows verification only for one main account per user. Sub-accounts cannot be verified — verification is only available for the primary account.

If you need to transfer verification data to another account, there are special procedures for transferring information, but this requires additional checks and approval. The username must remain unchanged when upgrading from basic to advanced or professional verification levels.

KYC is geographic boundaries — citizenship role in restrictions

KYC also serves as a tool for geographic regulation. Territorial restrictions are determined based on the user’s citizenship, not their current residence. This is done to comply with international regulatory requirements applicable in each country.

It’s useful to remember that you can update your verification information after the initial check, provided your account is not blocked, not a sub-account, and data is not in the process of transfer or update. The update process takes approximately two hours.

KYC is a standard — recognition of the verification system across the crypto industry

Identity verification remains a mandatory requirement for all cryptocurrency platforms operating in accordance with international law. KYC is not just a bureaucratic procedure but a critically important mechanism for ensuring the security of the crypto market.

Verified users gain access to extended features, including buying crypto with fiat, participating in earning programs (Earn), special offers, and private events. Additionally, verified accounts are much easier to recover if access is lost, as the system can confirm the owner’s identity.

Completing KYC is an investment in security and convenience when using cryptocurrency services. This process is standardized by the global financial regulatory community and is a guarantee of reliable protection for both users and the integrity of the crypto ecosystem.