does mexc require kyc

MEXC requires Know Your Customer (KYC) verification for users seeking enhanced platform access, including higher-value deposits, withdrawals, and certain cryptocurrency trading.

Nov 13, 2024 at 10:06 pm

Does MEXC Require KYC?

1. Understanding KYC

Know Your Customer (KYC) is a process by which financial institutions identify and verify the identity of their customers. This process typically involves collecting and verifying information such as name, address, government-issued ID, and proof of income.

2. MEXC KYC Policy

MEXC, a cryptocurrency exchange, requires KYC verification for all users who want to access certain features and services on the platform. This includes:

• Deposits over a certain amount
• Withdrawals
• Trading certain cryptocurrencies

3. KYC Verification Process on MEXC

The KYC verification process on MEXC involves the following steps:

Step 1: Submitting KYC Documents

Users need to submit copies of government-issued ID documents (e.g., passport, driver's license), a proof of address (e.g., utility bill), and a selfie holding their ID document.

Step 2: Facial Recognition

Users must complete a facial recognition check to verify their identity against the submitted ID documents.

Step 3: Verification Review

MEXC's team reviews the submitted documents and facial recognition results to verify the user's identity.

4. KYC Approval Time

The KYC verification process usually takes within 24 hours to complete. Once approved, users will have access to the full range of features and services on the MEXC platform.

5. Exceptions

There are a few exceptions to the KYC requirement on MEXC:

• Deposits under a certain amount
• Basic trading operations
• Viewing market data

However, users may be prompted to complete KYC verification if their trading activity exceeds certain thresholds or if MEXC suspects suspicious activity.

Conclusion

MEXC requires KYC verification for all users who want to access certain features and services on the platform. The KYC verification process is designed to enhance security, prevent fraud, and comply with regulatory requirements. By completing the KYC process, users can unlock the full potential of the MEXC platform safely and securely.