KYC Verification for Individuals: Complete Guide and FAQs

In the modern world of cryptocurrency platforms, KYC verification has become a mandatory requirement for most services. This procedure is necessary to protect both users and platforms from various risks. Let’s understand what KYC verification is, why it’s important, and how to complete it correctly.

What is KYC Verification and Why Is It Needed

KYC — abbreviation of the English phrase “Know Your Customer” — represents a set of procedures to confirm a user’s identity, assess potential risks, and verify compliance with applicable regulations. The essence of KYC verification is to minimize risks on the checked account.

KYC verification performs several important functions:

Security and legal compliance. Platforms are required to conduct verification in accordance with applicable anti-money laundering (AML) and counter-terrorism financing (CFT) laws. This helps create a safe trading environment for all participants.

Prevention of illegal activities. The KYC process helps identify and prevent fraud, identity theft, and other unlawful actions at an early stage.

Access to additional services. After completing verification, users gain access to buying cryptocurrency with fiat, earning products (Earn), and higher withdrawal limits.

Account security. Verified accounts are much easier to recover if access credentials are lost.

How the Verification Process Works: Step-by-Step

The KYC verification procedure usually takes about 15 minutes, though in some complex cases it can take up to 48 hours. Here are the main steps:

First stage — Standard verification. At this level, you need to confirm your identity. You will be asked to fill in basic information and verify your identity using a video or photo.

Second stage — Advanced verification. If a higher level of verification is required, you will need to confirm your address with an additional document.

Third stage — Pro verification. This is an extended comprehensive check, which may be required depending on your region and the type of service.

When completing KYC verification, keep in mind: territorial restrictions are determined based on citizenship, not current residence. This is necessary to comply with regulations of different countries.

Important: sub-accounts cannot undergo verification. KYC verification is only available for the main account. Also, only one account per user can be verified. If you want to transfer verification data to another account, a special procedure is required.

What Documents Are Needed for Identification

Documents for KYC verification must meet certain requirements.

Identity proof documents. Only original documents issued by your country of citizenship are accepted for KYC verification. Permissible documents include:

• Passport
• National ID card
• Residence permit (for foreigners)
• Driver’s license

Note: Photos of physical original documents are accepted, but electronic copies and scans are not. Student IDs, work and tourist visas, and citizen passports are not accepted.

When uploading a photo, ensure that:

• Your face is centered in the frame
• The document is clearly visible without glare or reflections
• No dark areas or shadows hinder verification

Address proof documents. In addition to the main identity document, for advanced KYC verification, you will need a document confirming your address. It must be dated within the last three months. Suitable options include:

• Utility bills (electricity, gas, water)
• Official bank statements
• Government-issued address certificates
• Internet, cable TV, or landline bills
• Tax declarations
• Municipal tax payment receipts
• Registration certificates

Platforms do not accept mobile bills, insurance policies, medical bills, bank receipts, border passes, or handwritten documents as proof of address.

How Limits Change After KYC Verification

The level of verification directly affects withdrawal limits. For unverified users, restrictions are:

• Daily limit: up to 20,000 USDT
• Monthly limit: up to 100,000 USDT

After completing Standard KYC verification:

• Daily limit increases to 1,000,000 USDT
• Monthly limit is removed

With Advanced KYC verification:

• Daily limit is 2,000,000 USDT
• Monthly limit remains unlimited

VIP users, depending on their status, can receive even higher limits, up to 26,000,000 USDT per day.

Important notes on limits:

• The daily limit resets every day at 00:00 UTC
• The monthly limit resets on the first day of each month at 00:00 UTC
• All limits are calculated in USDT equivalent
• In some cases, the platform may request KYC verification confirmation before approving a withdrawal

Common Errors and Reasons for Verification Rejection

The KYC verification process can be declined for various reasons. Here are the most common mistakes:

Non-compliance with document requirements. If the document is uploaded as a screenshot, copy, or screen capture, KYC verification will be rejected. Only photos of physical original documents are accepted.

Face recognition issues. If the algorithm cannot correctly recognize your face, ensure that your face is clearly centered throughout the process. Avoid strong shadows, glare, or bright light that may interfere with recognition.

Poor document quality. The document must be clearly visible without glare, reflections, or damage. Even minor defects can lead to rejection.

Detection of other verified accounts. If the system finds that the same personal data has been used for verification on another account, access will be denied. Remember: KYC verification is only allowed for one account per person.

Violation of terms of service. Verification may be declined if it is found that the user is under 18, resides in a restricted country, or violates other platform rules.

Name mismatch in documents. For Standard and Advanced KYC verification, the same name must be used across all documents. If names do not match, verification will be rejected.

Before starting the verification process, carefully review the platform’s terms of service and ensure you meet all requirements.

Verification Timeframes and What to Do if Delayed

Standard timeframes. Usually, KYC verification takes about 15 minutes. However, in complex cases, it can take up to 48 hours.

What to do if delayed. If after 48 hours you have not received a result, it is recommended to contact Support. After submitting a request, you will receive an automatic confirmation with a request number, and support will contact you within one business day.

Additional Questions About KYC Verification

Can I update my data after completing verification? Yes, KYC data can be updated if certain conditions are met: the account has completed individual verification, is not a sub-account, is not blocked, and is not in the process of data update. The update process takes about two hours.

How is personal data security ensured? All information provided during KYC verification is stored in encrypted form with full confidentiality. Data is used solely for identity verification and is not shared with third parties for marketing or other purposes.

Are there regions with additional requirements? In some regions, additional verification steps may be required. Information about specific regional requirements can be found on the help page.

KYC verification is an integral part of working with cryptocurrency platforms today. Although the process may seem cumbersome, it is aimed at protecting your funds and creating a secure trading environment for all users. By following document preparation tips and avoiding common mistakes, you can successfully pass KYC verification on your first attempt.