What does KYC mean?
The term “KYC” refers to “know your customer.” KYC guidelines for financial services mandate that professionals have to verify the identity, suitability, and risks involved in order to reduce the risk to the relevant account.
How to make an Individual Level 1 request?
You may take the following steps:
- In the upper right-hand corner of the page, select “Account Security”.
2. Select “Verify Now” from the “Identity Verification” column under “Account Security”.
3. Under Level 1 Basic Verification, choose “Verify Now”
4. Required information:
- Documentation (passport/ID) issued by the nation of origin
- Screening using facial recognition
Note:
- Make sure that the entire name and birthdate are displayed clearly in the document photo.
- Please check that your ID photo and other details are clear and that it hasn’t been modified in any way if you are having trouble uploading pictures.
- File formats of any kind can be uploaded.
How to fill out an Individual Level 2 request form?
Once KYC 1 verification has been authorized, you can take the following actions:
- In the top right corner of the page, select “Account Security.”
- Select “Verify Now” located under “Account Information” in the “Identity Verification” column.
- Under Lv. 2 Residency Verification, click “Verify Now.”
- Document needed:
- Verification of residential address
Note: Bybit accepts the following proof of address documents:
- Utility invoices
- Bank records
- Government-issued residential proof
The following document types are not accepted by Bybit as proof of address:
- Government-issued ID cards, passports, and driver’s licenses
- Mobile phone statement
- Insurance record
- The bank transaction slip
- Bank or business recommendation letter
- Handwritten receipt or invoice
You will receive an email confirming your approval after Bybit verifies the documents, then you can start withdrawing up to 100 BTC per day.
How to make a Business Lv. 1 request?
Kindly contact compliance@bybit.com via email. Don’t forget to attach scanned copies of the following files:
- The incorporation certificate.
- Articles of association, constitutions, or memorandum of understanding
- The Director and Member Registrations
- The Ultimate Beneficial Owner (UBO), who holds a minimum of 25% interest in the company, must provide proof of residency and a valid passport or ID, along with proof of address within three months.
- If different from the UBO, information about one director (passport/ID and proof of address within three months)
- If different from the UBO, information about the account operator/trader (passport/ID and proof of address within three months)
You will receive an email confirming your approval after Bybit verifies the documents, at which point you can start withdrawing up to 100 BTC a day.
Frequently Asked Questions (FAQ)
Why do we need KYC?
To increase security compliance for all traders, KYC is required.
Is registration required for KYC?
You must finish your KYC verification if you want to withdraw more than 2 BTC per day.
Please take note of the withdrawal restrictions listed below for each KYC level:
| KYC Level | Lv. 0 (no verification needed) | Lv. 1 | Lv.2 |
| Maximum Daily Withdrawal | 2 BTC | 50 BTC | 100 BTC |
**Token withdrawal restrictions will adhere to the equivalent value of the BTC index price**
Note: Bybit may send you a request for KYC verification.
How will the personal data I provide be used?
Your identity is confirmed using the data you provide. Bybid promises to protect the privacy of your personal data.
How much time does it take to verify KYC information?
It takes about fifteen minutes to complete the KYC verification procedure.
Note: It may take up to 48 hours for KYC verification due to the complexity of information verification.
What should I do if the KYC verification process is not completed for more than 48 hours?
Please send an email to support@bybit.com or use Bybid’s LiveChat support if you have any issues with KYC verification.
How will the company and personal information I provide be used?
We will use the details you provide to confirm the company’s and the individual’s identities. Documents belonging to the business and individuals will remain private.
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