Why is KYC Verification Necessary?
1. What Is KYC Verification?
KYC (Know Your Customer) Verification refers to the process of verifying a user's identity. Completing KYC helps protect your account and assets and effectively reduces risks related to fraud, corruption, and anti-money laundering. In addition, if you accidentally lose your account password or security credentials, your verified KYC information can help you recover access to your account more efficiently.
2. Why Is KYC Verification Necessary?
After completing KYC, you can enjoy a smoother and more seamless trading experience, improving overall convenience and security.
- Enhanced account asset security
- Higher single-transaction limits for buying crypto and withdrawals
- Access to corresponding trading permissions
- Access to KYC-related platform events
3. Types of KYC Verification
Type | Level | Required Information | Verification Method |
Individual KYC (ID card, Driver's License, Passport, Residence Permit) | Primary KYC | Submit Primary KYC information (name/ID number/date of birth) and take and upload an ID document photo | Web, App |
Advanced KYC | Submit Advanced KYC information (take or upload ID document photos, enter name/ID number/date of birth) and complete facial recognition | Web, App | |
Institutional Verification | - | Submit corporate information, including company registration details and board authorization documents | Web Only |
4. Withdrawal Limits for Different KYC Types
Type | 24-Hour Withdrawal Limit | Other Trading Permissions |
No KYC | 10 BTC | Restricted OTC trades |
Primary KYC | 80 BTC | Limited OTC trades |
Advanced KYC | 200 BTC | Unlimited OTC trades |
Institutional KYC | 400 BTC | Restricted OTC trades |
Note: In certain countries or regions, users without KYC may be subject to deposit and withdrawal limits of 1,000 USDT or less. Refer to the on-page details for the applicable limits.
5. Who Can Participate in KYC?
Users from countries or regions not restricted by MEXC are eligible to submit KYC verification. Restricted countries or regions are listed in the User Agreement. If you experience any issues during the KYC process, contact online Customer Service or submit a support ticket for assistance.