As one of the world’s most reliable and transparent exchanges, KuCoin has required Identity Verification for its users since November 1, 2018. This article will help you understand the Identity Verification process (also known as Know Your Customer, or KYC), how it works, and questions that you may have about the process.
In line with KYC principles, to better meet legal requirements, and with the goal of enhancing user account security, KuCoin will be introducing enhancements to its Identity Verification procedures, effective August 31, 2023, at 00:00 (UTC). As part of our commitment to curbing illicit activities, such as money laundering and terrorist financing, users will be required to submit identification documents and complete face verification to pass the Identity Verification process.
Note：
1. Starting from August 31, 2023 (UTC), new users must complete Identity Verification in order to use KuCoin's products and services.
2. For users who registered before August 31, 2023 (UTC) but have not completed standard Identity Verification before then, they will only be able to use the remaining services: selling cryptocurrencies, closing futures contracts, closing margin positions, redeeming from KuCoin Earn, and redeeming ETFs. During this time, they will not have access to deposit services (withdrawal services will not be affected).
As such, to ensure the normal use of your account, we strongly recommend that you complete standard Identity Verification as soon as possible. Completing Identity Verification not only enables you to fully enjoy higher-quality and stable services, but also ensures the safety of your funds and account. This prevents others from fraudulently using your identity for deceitful or illegal activities.
If you run into any problems during the verification process, feel free to contact our customer support team. Thank you for your understanding and support!
FAQs:
Q1: What limitations will be imposed on my account if I choose not to finish Identity Verification?
A: New users must complete the Identity Verification before using KuCoin's products and services. For users who registered before August 31, 2023 (UTC) but have not completed the identity verification by that date, they will only be able to use the remaining services: selling cryptocurrencies, closing futures contracts, closing margin positions, redeeming from KuCoin Earn, and redeeming ETFs. During this time, they will not have access to deposit services (withdrawal services will not be affected).
Q2: After completing Identity Verification, what benefits can I enjoy?
A: Upon completing Identity Verification, you will gain access to all products and services provided by KuCoin. This includes the benefit of higher daily withdrawal limits and the opportunity to register for KuCoin Spotlight, where you can participate in token sales for promising projects.
I. Why Complete Identity Verification
Identity Verification represents KuCoin's commitment to aligning with regulations within the cryptocurrency industry, and to mitigate activities such as fraud, money laundering, scams, and terrorist financing. After completing Identity Verification, users can enjoy higher daily withdrawal limits on KuCoin.
Details are as follows:
Verification Status | Withdrawal Limit per 24 hours | P2P |
Not Completed | 0-30,000 USDT (specific limits based on how much KYC information has been provided) | - |
Completed | 999,999 USDT | 500,000 USDT |
To better protect our users’ funds, we make dynamic adjustments to the requirements and associated benefits of standard Identity Verification. These adjustments are based on platform security requirements, local compliance policies, the unique features of our various business products, and the online environment.
With all this in mind, we strongly recommend users to complete Identity Verification. In cases where users forget their platform credentials or if their account is compromised due to a data breach on the client’s end, the information provided will assist users in swiftly recovering their accounts. Users who complete Identity Verification can also participate in KuCoin's fiat-crypto services.
II. How to Pass Identity Verification
Please log in to your KuCoin account, click Account Center → Identity Verification to fill in the required information.
1.Individual Verification
If you have an individual account, please select Identity Verification → Individual Verification, then click Verify Now to fill in your information.
The Identity Verification procedure involves: 1) personal information, 2) ID photos, and 3) face verification and review. Users get access to more benefits by completing the verification process. Please make sure that the information you enter is true and valid. Otherwise, it will affect the result of your review. The review results will be communicated via email, so please wait for them patiently.
1.1 Provide Personal Information
Click Verify Now on the individual verification page to enter the Identity Verification page. Select your country/region and the document used for verification, then fill out your personal information before clicking Continue. Please make sure that all the information entered is consistent with the details on your document.
1.2 Provide ID Photos
Please enable camera permissions on your device, then click Start and use the camera to take and upload a photo of your ID. Please make sure that the information on the document is consistent with all the information you entered.
1.3 Complete Facial Verification and Review
After confirming the upload of your photo, click Continue to proceed with facial verification. Select the device for facial verification, then click Continue and follow the system prompts to complete the facial verification process. After completion, the system will automatically submit the information for review. Upon successful review, the standard Identity Verification process is complete. You can view the review results on the Identity Verification page.
2.Institutional Verification
If you have an institutional account, please select Identity Verification → Switch to Institutional Verification and click Start Verification to fill in your information. Due to the complexity of institutional verification, a review officer will contact you once you submit your request through the designated KYC verification email at: institutional_kyc@kucoin.com.
III. FAQs
1）If you are having trouble uploading photos, here are a few tips from KuCoin:
One person can only verify one KuCoin account.
The supported image format is JPG and PNG, and the recommended image size is less than 4MB.
Valid documents include your ID card, driver's license, and passport.
If you've tried the steps above and are still having trouble, check if you are experiencing network issues. Try again at a later time or use a different browser to upload.
Possible reasons for verification failure:
2）Q: I receive an email or text message stating that my Identity Verification did not pass the review.
A: Don’t worry. Log in to your account, click on your profile picture, then go to Identity Verification to check the reasons for failure. Click Re-Verify to submit the correct information, and we’ll review your information again in no time.
3) Q: Why there is no response on the screen when scanning my documents for KYC verification?
A: Please try the following methods to help:
1. Ensure that all four edges of your document align with the rectangular frame on the screen, and that the bottom edge is within the shadow area for the photo to be taken automatically.
2. If the automatic capture doesn't work, you can manually take a photo by clicking on the question mark in the top right corner of the screen.
4)Q: Is the KYC information I have stored at KuCoin secure? Will there be any disclosure of my personal data?
A: Rest assured, your information is encrypted and securely stored at KuCoin. We adhere to strict privacy policies and will not disclose your personal information.
We hope this article has been helpful. Please reach out to our 24/7 customer support via online chat or submit a ticket if you have any other questions.
Happy trading on KuCoin!
