OKX Implements KYC Verification For Increased Security
OKX, a leading cryptocurrency exchange, has asked its users to verify their identities to perform certain tasks on the platform. The process of verification is known as KYC, or Know Your Customer, and is used to keep the exchange safe from fraud and other illicit activities.
OKX exchange has recently strengthened its KYC policy. KYC1 daily withdrawal limit of 200 BTC has been reduced to only $5,000 in total, but no announcement. KYC2 requires face recognition and certificates. The withdrawal amount after approval is a daily limit of $10m.…
— Wu Blockchain (@WuBlockchain) May 10, 2023
Level 2 Verification
Users can verify their identities by submitting photos of their ID documents and face. This process is required for Level 2 verification, which enables higher trading and withdrawal limits. Once verified, users can withdraw up to the equivalent of 500 BTC per day.
To verify their identities on the OKX app, users should look for the profile icon in the app header and tap on it. Then, they should choose Verification from the menu and confirm that their Level 1 details are correct and current. The app will then ask for permission to take photos, after which users can take photos of their ID document and face.
On the web version of OKX, users can verify their identities by clicking on the account profile icon in the top navigation bar and choosing Verification from the dropdown menu. If they have not completed Level 1 verification, they must do so before moving on to Level 2. Users should then submit photos of their ID document and face using their webcam or mobile phone.
Identity Verification on OKX
Level 2 verification takes some time to process, and users should receive their results within three days. If they have not heard from OKX in that time, they can contact support at the Support Center Chat Bot.
Identity verification is an important step in ensuring the safety and security of cryptocurrency exchanges. By knowing their customers’ identities, exchanges can prevent fraud and other illegal activities on their platforms. While the process may take some time, it is ultimately in the best interest of users and the exchange itself.
OKX encourages its users to learn more about identity verification on the platform and to complete the process as soon as possible to take advantage of higher trading and withdrawal limits.
