Does WEEX Require KYC? All KYC Limits Revealed

Publisher

Talha

December 14, 2024

Does WEEX Require KYC?

WEEX employs a flexible KYC (Know Your Customer) policy. The platform does not enforce mandatory KYC for basic accounts, allowing users to trade and withdraw funds without verification. However, completing KYC is encouraged, as verified users unlock advanced features, higher withdrawal limits, and enhanced security. Additionally, users who complete KYC through the WEEX app receive a $10 reward as part of the platform’s new user incentives. Read more for an extensive deep dive into the WEEX crypto exchange.

Is WEEX Safe to Use Without KYC?

WEEX allows users to operate basic accounts without undergoing KYC verification. While this provides convenience and privacy, unverified accounts are subject to lower withdrawal limits and restricted access to certain features. For a more secure and comprehensive experience, users are advised to complete the KYC process.

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WEEX Withdrawal Limits

Account Type	Single Withdrawal Limit	Daily Withdrawal Limit	Daily Transaction Limit
Non-KYC Accounts	50,000 USDT	500,000 USDT	Up to 10 withdrawals per day (resets at 00:00)
KYC-Verified Accounts	100,000 USDT	2,000,000 USDT	Up to 20 withdrawals per day (resets at 00:00)

Notes:

Large Withdrawals: Amounts exceeding standard limits may require additional user confirmation for enhanced fund security. Processing these withdrawals typically completes within 24 hours.

Additional Information: Users can refer to WEEX’s documentation for specific details on minimum and maximum withdrawal amounts for individual tokens on public chains.

WEEX KYC Requirements

To complete KYC on WEEX, users must provide the following:

For Individual Users:

Full Name: As shown on official identification documents.
Date of Birth: To confirm eligibility.
Residential Address: Verified via utility bills or bank statements (issued within the last three months).
Identification Documents: A government-issued ID such as a passport, national ID, or driver’s license.
Selfie: For identity verification through facial recognition.

For Legal Entities:

Entity Name and Registration Details: Includes legal name, registration number, and entity type.
Directors and Key Personnel: Identification of management.
Beneficial Ownership Details: Information on individuals holding 25% or more ownership.
Business Documentation: Certificates of incorporation, articles of association, and proof of address.

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Bottom Line

WEEX offers a flexible KYC process to balance privacy and regulatory compliance. While unverified accounts can access basic features, completing KYC provides access to advanced functionalities, higher withdrawal limits, and enhanced security. The platform’s incentive of a $10 reward encourages users to verify their accounts and enjoy these additional benefits.

FAQ

Q: Does WEEX Require KYC?

No, WEEX does not enforce mandatory KYC for basic accounts. However, completing KYC unlocks advanced features and rewards, including a $10 bonus.

Q: How to Complete KYC?

KYC verification on WEEX is one of the tasks the platform offers, where users stand to earn upon completion. To get started, head to the Rewards Hub and click on Welcome Bonus. Scroll down to the Identity Verification section under New User Rewards and click the KYC button for instruction to proceed on the WEEX App. This task is one of the essential steps where new users unlock a free $10 welcome bonus plus other platform’s features.

To complete the KYC verification task on WEEX and get your $10 bonus.

Download the WEEX App: Install the WEEX app from the App Store.

Log in to Your Account: Open the app and log in to your WEEX account.

Access Your Profile: Tap the profile icon located in the upper left corner of the app.

Select Verification: Click on your profile name where your current status is labeled as “unverified.”

Initiate Verification: Tap the “ID Verification” button to begin the secure verification process. This service is powered by Sumsub for reliable identity verification.

Submit Your Identification:

Take a photo of your government-issued ID (passport, national ID, or driver’s license).
Upload a selfie for facial recognition.

Review Process: Wait for the system to process and approve your verification.

This process ensures compliance with regulatory requirements while maintaining user convenience.

Q: Is WEEX Legit?

Yes, WEEX is a legitimate cryptocurrency exchange operating under global regulatory standards. It holds key financial licenses from both the United States and Canada:

US MSB License: