What is the KYC verification process, and what steps does it include?
The KYC verification process includes submitting identity documents, address confirmation, and undergoing verification. While the specific details may vary slightly depending on the user's jurisdiction and account type, the overall process follows a consistent series of steps that are standard across regulated trading platforms worldwide.
The first step is identity document submission. The user accesses the verification section of their account and uploads a clear, high-quality image of a valid government-issued identity document, such as a passport or national ID card. The document must show the holder's full name, date of birth, photograph, and expiration date, and must be captured in its entirety without cropping, editing, or obstruction. Some platforms may also require a selfie or liveness verification at this stage, where the user takes a photo of themselves holding the document or completes a brief video check to confirm that the person submitting the documents is the same individual pictured on the ID.
The second step, if required, is address verification. This involves submitting a recent document — typically issued within the last six months — that confirms the user's current residential address. Acceptable documents usually include utility bills, bank statements, or official government correspondence that clearly display the user's full name and address. Once all required documents have been submitted, the third step begins. During this phase, the Company's team or automated verification system examines each document for authenticity, accuracy, and consistency with the registered account information. The review duration varies depending on the quality of the submitted documents and the current volume of verification requests, but most submissions are processed within a few hours to a couple of business days. Users can monitor the progress of their verification through the account dashboard and will be notified of the outcome once the review is complete — either confirming successful verification or requesting corrective action if any issues were identified.