Guide to verifying your account (KYC) for crypto trading.

Understanding KYC Requirements in Crypto Platforms

1. Cryptocurrency exchanges mandate identity verification to comply with global anti-money laundering directives.

2. Regulatory frameworks such as FATF guidelines and local financial authority mandates enforce strict onboarding protocols.

3. Users must submit government-issued photo identification like passports, national ID cards, or driver’s licenses.

4. Some jurisdictions require additional documentation including proof of residence or tax identification numbers.

5. Failure to complete KYC may result in restricted deposit, withdrawal, or trading capabilities across multiple platforms.

Step-by-Step Identity Submission Process

1. Log into your exchange account and navigate to the “Security” or “Verification” section in the dashboard.

2. Select the appropriate verification tier—basic, intermediate, or advanced—based on desired trading limits.

3. Upload clear, unobstructed images of both front and back sides of your ID document.

4. Capture a real-time selfie holding the same ID alongside a handwritten note specifying date and platform name.

5. Submit supporting documents such as utility bills or bank statements issued within the last 90 days for address confirmation.

Common Rejection Reasons and Fixes

1. Blurry or low-resolution ID photos lead to automatic rejection during automated OCR parsing.

2. Mismatched names between ID and registered account details trigger manual review delays.

3. Expired identification documents are invalid even if the expiration occurred recently.

4. Selfies without visible hands holding the ID or containing glare/reflections fail liveness checks.

5. Using edited, scanned, or digitally altered documents violates platform integrity policies and results in permanent account suspension.

Regional Variations in Verification Standards

1. European Union-based users face stricter GDPR-aligned data handling and often require video-based identity interviews.

2. U.S. platforms demand SSN or ITIN submission for higher-tier accounts due to IRS reporting obligations.

3. Japanese exchanges enforce dual-factor biometric validation including fingerprint scans and facial mapping.

4. Singaporean authorities require MAS-compliant declarations affirming source of funds for deposits above SGD 20,000.

5. Indian users must link Aadhaar numbers via UIDAI e-KYC integration, with failure to do so limiting INR withdrawal functionality.

Security Best Practices During KYC Submission

1. Avoid uploading sensitive documents over public Wi-Fi networks or unencrypted connections.

2. Disable screenshots and screen recording permissions while navigating verification portals on mobile devices.

3. Never share OTPs, seed phrases, or private keys during any stage of the process—even if prompted by unsolicited messages.

4. Verify SSL certificate validity and domain authenticity before entering personal data on verification pages.

5. Retain encrypted local backups of submitted documents using password-protected archives—exchanges do not store raw files indefinitely.

Frequently Asked Questions

Q: Can I use a birth certificate instead of a passport for KYC?A: No. Birth certificates lack photo identification and are universally rejected by regulated crypto exchanges.

Q: What happens if my ID has a different spelling than my exchange registration?A: The system will flag the discrepancy. You must update your account name to match the legal name on your ID before resubmitting.

Q: Do hardware wallet providers require KYC for device purchase?A: Most do not—but third-party retailers or fiat gateways used during checkout may initiate their own verification flows.

Q: Is it safe to upload my national ID to decentralized exchange interfaces?A: Legitimate decentralized exchanges do not collect KYC data. Any DEX interface requesting ID uploads is likely a phishing replica or centralized front-end.