Bitget is a popular crypto exchange for trading with low fees. Many people convert to this exchange but don’t want to go through its KYC process. So, is completing KYC necessary on Bitget?
Unfortunately, the exchange is strict on KYC registration, which means you can’t use Bitget without KYC. Completing the KYC verification process will unlock all features you won’t have if unverified. Below, we will discuss all these limitations and perks of Bitget. Moreover, you will also learn how to verify if you are interested in using Bitget and all of its benefits. So, without further waiting, Let’s Go!
Disclaimer: Bitget used to be a non-KYC exchange. However, in September 2023, Bitget enforced mandatory KYC verification. Without KYC, you can not use Bitget!
Withdrawal Limits
Below are some limitations you will experience if you haven’t completed KYC on Bitget.
To restrict people from taking unnecessary advantage of the profits from trading, Bitget allows people to withdraw only a limited amount of assets. Initially, their daily withdrawal limit for unverified users was much lower.
But in 2023, the Bitget team increased the daily limit to 50,000 USD for unverified users. Also, they can withdraw a maximum of 100,000 USD per month. Note that you can only withdraw cryptos without KYC, but no FIAT.
Withdrawal Limit Without KYC:
- You can’t withdraw cryptos from Bitget without KYC
However, you can withdraw up to $3,000,000 daily in cryptos and $50,000 in FIAT if you have a Level 1 verified account.
The limit is further increased if you complete the Level 2 verification, which is up to 2,000,000 USD for daily fiat withdrawals but still $3,000,000 for crypto withdrawals.
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Is it Safe to Use Bitget Without KYC?
No, Bitget doesn’t allow you to buy, sell, trade, and stake your crypto assets without KYC verification. The platform has licensed the latest HTTPS certification version provided by Cloudflare. High-grade United States authority, FinCEN, regulates Bitget activities. Moreover, it has 12 A+ ratings from SSL Labs. It is safe to say that using Bitget with KYC verification is safe.
That’s why it has never been hacked once since it was founded in 2018 while previously offering KYC-free trading. So you can easily use the platform without any worries, even though KYC is required now.
. But remember, Bitget doesn’t support certain locations like China, Hong Kong, North Korea, Singapore, and Macau. So, if you are using it from these countries, make sure you practice proper security measures.
Why is Bitget a Good KYC Exchange?
Many other platforms offer KYC-free trading, but some factors make Bitget distinctive and the leading KYC exchange. Yes, you remain more anonymous without completing KYC, as the platform will have less personal information about you. However, Bitget is an excellent crypto exchange, and we think that doing the KYC verification for the platform is worth it. With low fees, a high number of supported cryptos, and a user-friendly interface, Bitget is an amazing crypto exchange with mandatory KYC verification.
How to Complete KYC Verification on Bitget?
Although Bitget allows you to trade without KYC, you are probably tempted by the higher limits and better features of verified users. So, if you are thinking to verify your account after creating an account, follow the steps below:
Step 1: Login to your account, and click your Profile Icon at the top right corner.
Step 2:Click on ID Verification from the left panel. It will be on the Individual tab by default (which you can switch to Institution if your account belongs to your company).
Step 3: Select your Country, then click Verify Now under Level 1 Verification.
Step 4: Enter your complete name and date of birth in the Basic Information section.
Step 5: Upload two clear photos of the front and back of your ID Verification. It can be either your Driving License, Passport, or Government-Issued ID card.
Step 6: Next, upload/capture your live selfie for Face Authentication.
Step 7: Click Submit to complete the process.
However, if you want to complete the KYC level 2 verification further, again go to the ID Verification tab and click Verify Now under its tab. Enter your residential address details and upload a picture for proof. Last, click Submit to complete the process.
Final Note
Bitget is the ultimate choice of many people seeking a crypto exchange. While the platform requires KYC, it is secure, versatile, diversified, and has more perks than others. You can deposit, withdraw, and trade crypto only after verifying.
FAQs
Do You Need KYC on Bitget to Withdraw?
Yes, you need KYC to withdraw your assets. You can’t withdraw from Bitget without KYC verification. However, its daily limit is 20 BTC or 50,000 USD, which increases after verifying.
Can You Buy Bitcoin Without KYC?
No, you can not purchase Bitcoin and other crypto coins on the Bitget exchange without KYC.
Is Bitget Legal?
Yes, Bitget is a legal crypto exchange regulated by high-grade authority FinCEN and has an MSB Cryptocurrency Trading License. It has many other regulatory licenses from countries like the USA, Australia, and Canada.
Is Using a Non-KYC Exchange Legal?
Usually, trading on non-KYC exchanges is risky and sometimes illegal. But it depends on their certification and your region. If an exchange offers KYC-free trading but is also backed and regulated by authoritative organizations, it makes it a legal option. But it doesn’t mean you shouldn’t complete the Know Your Customer verification at all.
