Understanding KYC
KYC (Know Your Customer) is a regulatory process used by financial institutions to verify the identity of their clients. It serves as a cornerstone for anti-money laundering (AML) policies by ensuring transparency in financial transactions.
Why KYC Matters
Enhanced Security:
- Prevents fraudulent activities by confirming user identities.
- Protects funds by restricting unauthorized access.
Regulatory Compliance:
- Mandated by global financial authorities to combat corruption and illegal transactions.
- Ensures platforms adhere to legal standards.
Unlocks Trading Privileges:
- Higher verification levels (e.g., Lv.3) increase withdrawal/deposit limits.
👉 Learn more about OKX security features
Step-by-Step Guide to Complete KYC on OKX
Step 1: Access Identity Verification
- Method A: Open the OKX app → Homepage → Click "Identity Verification."
- Method B: Navigate to "Personal Center" (top-left) → Select "Identity Verification."
Step 2: Begin Certification
- Follow on-screen instructions to submit required details.
- Lv.1 (Basic): Enables crypto trading with minimal limits.
Step 3: Advanced Verification (Optional)
- Lv.2 (Advanced): Upload clear, unedited government-issued ID (jpg/png ≤10MB).
- Lv.3 (Video): Complete real-time facial recognition via the app.
Key Tips for Successful KYC
✅ Document Quality: Ensure ID photos are legible and unaltered.
✅ Video Recording: Face the camera directly in a well-lit environment.
✅ Enable 2FA: Strengthen account security with SMS/Google Authenticator.
👉 Start your OKX journey with enhanced security
FAQs
1. Is KYC mandatory on OKX?
Yes. Basic verification (Lv.1) is required for trading, while higher levels unlock greater limits.
2. How long does KYC approval take?
Typically 5–10 minutes for Lv.1; Lv.2/Lv.3 may take up to 24 hours.
3. What if my KYC fails?
Recheck document clarity and resubmit. Avoid edited or expired IDs.
4. Can I skip video verification?
No—Lv.3 requires video for higher transaction caps.
5. Does OKX store my KYC data securely?
Yes. Data is encrypted and complies with global privacy laws.
By completing KYC, you ensure safer transactions and full access to OKX’s features. Always prioritize security and compliance for seamless crypto trading.