👉 Read the full guide in Chinese
The first time you sign up for a crypto exchange, right after you enter your phone number, the app asks you to upload an ID and scan your face. A lot of newcomers freeze: "I just want to buy some crypto — why do they need something this sensitive? Is it safe? Can I skip it?"
The short answer: KYC isn't the exchange wanting your data — it's the law forcing them to verify who you are. Skip it, and your account barely works.
What KYC actually is
KYC = Know Your Customer. The exchange checks three things before it lets you deposit, trade, or withdraw:
| What they check | In plain words | What you submit |
|---|---|---|
| Identity | "This account belongs to a real person, not an impersonator" | ID / passport / driver's license |
| Address | Confirm where you live and your tax status | Bank statement, utility bill |
| Liveness | Stop people from using someone else's photo | Face scan / liveness check |
Why every exchange does it
The chain is simple:
FATF anti-money-laundering rules → national laws → exchange licenses → you must verify.
Exchanges that skip KYC get fined, delisted, or shut down. That's why Binance, OKX, and every mainstream platform all require it — it's the cost of operating legally.
The two verification tiers
| Tier | What you submit | What you unlock |
|---|---|---|
| Unverified | Nothing | Basically view-only; some platforms only allow withdrawals |
| Basic | ID + face scan | Deposits, spot/futures trading, base withdrawal limits, bonuses |
| Advanced | Basic + proof of address | Higher limits, fiat on/off-ramp, more features |
For most beginners, basic verification is enough.
Is it safe?
The real risk isn't handing your ID to a licensed exchange — it's handing it to a scammer. Never send ID photos over WeChat/WhatsApp to a "support agent" or a middleman offering to "pass KYC for you." That's a scam.
A quick pre-submit checklist
- ID is unexpired, yours, and matches your name exactly
- Photo taken live in the official app, not an old screenshot
- Good lighting, all four corners visible, no glare
- Face scan with no hat/glasses/mask and no filter
- Don't refresh the page while it's under review
Top comments (0)