How to Update My Identity Verification Information

Why Do I Need to Update My KuCoin account?

Identity Verification or Know Your Customer (KYC) standards are designed to protect your account against fraud, corruption, money laundering, and terrorist financing. KuCoin also complies with a series of AML (Anti-Money Laundering) standards, risk prevention, compliance, and the operation of certain activities that have been regulated by the jurisdictions. This can prevent money laundering, terrorist financing, and illegal financial crime.

Reasons for updating your Identity Verification include:

  1. The documents have expired;

  2. The name on the document has changed;

  3. The ID number on the document has changed;

  4. The nationality has changed;

  5. Update or replace your existing documents to meet specific fiat channels’ requirements;

  6. Change the name to a system recognizable language (e.g., from local-language ID card to English-language passport);

 

How to update our Identity verification Information?

  1. For some specific situations, We will notify users in batches to perform the new verification. In this case, please follow the instructions in the email to complete Identity Verification. Please complete the verification within the deadline, or your KuCoin account will might be restricted to “Withdrawal Only” finally. And there will be an entrance to reset KYC on the KYC page for these users, you could go to KYC page for uploading new identity document.

  2. For other situations, there is no entrance to reset KYC on the KYC page, you can contact our customer service agents to help on resetting your KYC, then you can re-do KYC verification.

 

What is the influence to my account privilege before re-verifying successfully?

Resetting KYC which means your ID information will be erased, until you successfully complete the re-verification, your account will be in a non-KYC verified status. As existing users who haven’t completed identity verification will have their account permissions temporarily changed to access to services such as Spot trading sell orders, Futures trading deleveraging, Margin trading deleveraging, KuCoin Earn redemption, ETF redemption, etc. All deposit service is unavailable, the crypto withdrawal limit may be reduced or unavailable, and fiat withdrawal is unavailable. If withdrawal becomes unavailable, don't hesitate to contact us for help.

Upon reinitiating personal identity verification, please review the following detailed implications on the account prior to successful re-verification.

Account basic functions:

Account Functions Account Impact Before Successful Re-verification
Register & Login Unaffected
Security Settings Binding/Changing/Unbinding Unaffected
Account Freeze Unaffected
Account Delete Unaffected
Sub-account Creation Unaffected
API Creation Unavailable
API Edit & Delete Unaffected
Invite friends for rewards Unaffected
Sub-account Trading Unavailable
Export history Unaffected
Bill Export Unaffected

 

Deposit:

Account Functions

Account Impact Before Successful Re-verification

Crypto Deposit

Unavailable

Fait deposit

Unavailable

Buy Crypto with third-party

Unavailable

P2P Purchase

Unavailable

Buy crypto with Visa, Mastercard, Fiat balance

Unavailable

Red Envelope Claiming

Unaffected

 

Withdrawal:

Account Functions

Account Impact Before Successful Re-verification

Crypto withdrawal

0-25,000 USDT

Fiat withdrawal

Unavailable

Sell crypto via P2P

Unavailable

Sell crypto with Visa, Mastercard, Fiat balance

Unavailable

Kucard

Unavailable

Red Envelope sending

0-25,000 USDT

 

Trading:

Account Functions

Account Impact Before Successful Re-verification

Spot Trading

buy orders unavailable; sell orders available

Margin Trading 

  1. New Positions Unattainable;

  2. Original Positions Persist, No forced Closure;

  3. Buy orders: only indebted crypto assets purchasable, non-indebted crypto assets not purchasable

  4. Sell orders Available

  5. Borrowing disabled; repayments allowed

Leverage tokens

  1. Buy orders unavailable

  2. sell orders available

  3. Crypto subscription disabled, redemption permitted

  4. No forced redemption

Trading bot

  1. New strategy creation unsuccessful

  2. Existing strategies run unaffected

Convert

Unavailable

Per-market Trading

Unavailable

Futures Trading

  1. Position opening or addition disallowed

  2. position reduction or closing permitted

  3. Original positions persist, no forced close

KuCoin Earn

  1. Unavailable Subscription/Purchase/Lending/Reinvestment orders.

  2. Available redemption/sell orders

  3. No forced sale or redemption

 

 

Was this article helpful?
9 out of 14 found this helpful

Comments

0 comments

Article is closed for comments.