How To Verify A KuCoin Account: Full Tutorial
Generally, you need to upload scans of your identity documents for KYC clearance. Some exchanges ask for proof of a residential address. Some exchanges do not allow users to trade without verification, while others restrict certain features (e.g. some deposit and withdrawal methods)."
As one of the most trusted and transparent trading venues, the KuCoin exchange, as of November 1, 2018, began requiring its customers to undergo an identity verification process, which is also known as Know Your Customer or KYC. In this article, Traders Union experts take a detailed look at how to verify a KuCoin account, the algorithm of the procedure, and possible issues that may arise during this process.
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Can I use KuCoin without verification?
At the moment, theoretically yes, but practically no. For example, without the KYC procedure, users will not be able to deposit funds, although the ability to withdraw them will remain unchanged. All users registered on KuCoin must successfully complete the verification procedure.
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How long is KuCoin verification?
The verification time on KuCoin can vary depending on the workload and document verification process. At a minimum, it will take only 3-5 minutes. But in general, verification can take from several hours to several days if more detailed verification of the entered data is required.
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What happens if I don't verify my KuCoin account?
Users registered before August 31, 2023, but who have not completed the identification process by that time can only use a limited set of features, including selling coins, closing futures positions, completing margin transactions, purchasing KuCoin Earn products and investing in ETFs.
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What is the ID number on KuCoin?
KuCoin identification numbers (IDs) are unique numbers assigned to each user after successful verification. It is used to identify the user on the platform and facilitates interaction with support and other functions of the exchange. Check out the KuCoin minimum deposit option for more convenience.
How to verify my account on KuCoin?
To fill in the required data, first log in to your KuCoin account, then go to the "Account Center" section, then click on "Identity Verification" and select "Individual Verification". At the same time, you should immediately decide how to verify - through a browser or an application.
Then the algorithm is as follows:
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Providing personal information
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Click on the "Pass Verification" button on a separate page to proceed to the personal verification section.
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Select the country or region and the type of document used for verification, then enter the user's personal information before clicking "Continue".
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It is important to verify that all data entered matches the information in the document.
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Uploading ID card photos
Allow access to the camera on your device, then tap "Start" and take a photo of the ID card to upload.
Be sure to ensure that the information provided is accurate and valid, as this may affect the results of the verification.
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Identity verification and analysis
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After uploading the photo, click on "Continue".
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Select an identity verification method, then click "Continue" again and follow the system's instructions.
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Once completed, the system will automatically send the information for verification.
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Upon successful verification, the standard identity verification procedure will end. The results can be viewed on the verification page.
Users who have completed verification will be granted access to additional privileges. The verification results will be sent via email.
What documents do you need?
To verify a KuCoin account, it is usually necessary to provide identity documents (e.g. passport, driver's license or ID card) and personal photos. They must be of high quality, otherwise the customer will be asked to redo them.
In some cases, additional documents may be required. With verification at the exchange, customers can be assured that their information is safe and used only in accordance with legislation and regulatory requirements.
Possible problems with KuCoin verification and how to solve them
The following obstacles may be encountered when going through the verification process:
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Problems uploading documents
There could be several reasons here.
Firstly, one document can only be used for registration of one KuCoin profile.
Secondly, supported image formats are JPG and PNG only, with a preferred size of less than 4 MB.
Suitable documents are an ID card, driver's license and passport.
If the above steps are performed and the problem still persists, you should check your internet connection, try again later or use a different web browser.
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Denial of verification
Ensure to review the documents provided for KuCoin verification for authenticity and ensure they align with the exchange's requirements.
To find out the reason for the rejection, you need to log in to your account, click on the profile image and go to the "Identity Verification" section again. There you should click on the "Re-verify" button to send the correct information and the exchange will re-verify the data.
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Processing delays
The average processing time is usually no more than one hour. If delays occur, it is better to contact the KuCoin support team for more information and assistance.
Can you use KuCoin without verification?
Of course, you can leave your account unchecked on the KuCoin platform. But in this case, the very meaning of using an exchange is lost. Now, from 03:00 on August 31, 2023, new KuCoin users are required to undergo a verification procedure to get access to almost all products and services on the platform.
For users registered before 03:00 on August 31, 2023, but who have not yet undergone identity verification, only some services such as selling cryptocurrencies, closing futures and margin trading positions, buying KuCoin Earn and ETF products are available.
According to Ivan Andriyenko, an expert at Traders Union, unverified customers will not be able to deposit funds into the account, although withdrawals will be possible. To ensure safe and stable account usage, Traders Union strongly recommends that you undergo standard identity verification on KuCoin. This will give full access to the services and ensure the safety of the account and funds.
Why do I need verification on KuCoin?
There are 5 main reasons why KuCoin, like other exchanges, has verification requirements:
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Security of accounts
Identity verification strengthens account security and helps prevent access to the account by malicious users who may try to take the user's money. It also makes it easier to recognize a customer if they forget their account password.
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Secure funds
Verification of KuCoin provides an additional level of protection of funds, as required by security standards. In addition, since the exchange cooperates with payment systems or banks, verification is necessary to comply with their requirements.
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Fraud prevention
KuCoin account verification allows the exchange to identify its clients and eliminate fraud. This creates a more trusting environment for all market participants and promotes the integrity of the platform. KYC procedures also help to combat terrorist financing and other illegal activities by pre-empting the possible use of cryptocurrencies for these purposes.
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Legal Compliance
Exchanges often have to comply with various legal norms and requirements such as Anti-Money Laundering (AML) laws or the same KYC. Verification helps an exchange comply with them, which is essential for its operation and regulation.
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Exchange reputation
An important factor for an exchange, that many people forget about for some reason. Exchanges that actively carry out verification procedures and comply with KYC requirements definitely enjoy a higher reputation among clients and investors.
Conclusion
Is KuCoin safe? Yes, verification of identity on KuCoin is an important step that verifies customer information and personal data in order to comply with anti-money laundering and anti-terrorist financing regulations. KuCoin verification aims to increase account security and reduce the risk of fraud and illegal activity. Without verification it is impossible to fully use the services of the exchange.
Team that worked on the article
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses that want to improve their Google search rankings to compete with their competition. With expertise in search engine optimization (SEO) and content marketing, he ensures his work is both informative and impactful.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).