Yes, Kucoin requires full KYC verification with a government-issued document such as an ID or Passport. KuCoin used to be a non-KYCcrypto exchange. However, in July 2023 Kucoin announced that KYC verification will be mandatory from now on. That means you have to verify your identity, otherwise, you can not trade or withdraw.
The trading platform was launched in 2017 and quickly became a shining star in the crypto space. With low fees, many amazing low market cap cryptos, and a great user interface, Kucoin offers its users many ways to capitalize on the crypto hype.
Is it Safe to Use Kucoin with KYC?
Yes, Kucoin is a safe cryptocurrency exchange to buy, sell, send, and trade your digital assets. You have all the major features, such as depositing and withdrawing cryptos, as well as trading after verifying your identity with KYC.
While Kucoin seems like an overall secure choice for crypto trading, we never recommend keeping cryptos on an exchange except for trading. Self-custody through wallets such as the Ledger is always the safest option. Still, Kucoin offers traders an amazing place to execute their transactions and buy cryptocurrencies.
How to Complete KYC Verification on Kucoin?
If you feel like Kucoin is the right choice for your crypto trading and you would like to start using the platform, you must verify your identity. This will unlock all Kucoin features such as trading, withdrawals, and more. You can follow our step-by-step guide for the Kucoin KYC verification below.
For the KYC verification on Kucoin, you need:
- Personal name (first and last)
- Passport, ID card or drivers license
- Working camera (e.g. computer webcam or phone camera)
Step 1: Sign up to Kucoin, go to the homepage, and click on your Profile in the top right corner.
Step 2: Click on “Identity Verification”.
Step 3: Choose the type of verification you want to do. For personal traders, you want to select the option for “Advanced Features”. If you are working as a company, you will have to choose “Institutional Verification”.
Step 4: You can finish the Kucoin KYC verification with your phone or on your computer. Just note that you need a working camera. So if your laptop or PC does not have a camera, you must use your phone.
Step 5: Select your country and the type of ID you want to use (e.g. Passport, ID Card, or Drivers license). Also, if you can not find your country (such as the United States), your country is restricted from using Kucoin, so you can not finalize the KYC verification.
Step 6: Next, enter your first and second name, as well as your ID number.
Step 7: In the last step, you have to hold your ID into your camera as well as scan your face. This step from Kucoins’ KYC verification process requires a working camera. You can use your webcam or phone for this.
After you have finished all steps, you just have to wait for the verification to be processed and approved. This can take a few minutes up to a few hours.
Kucoin Account Security
Aside from just using a password, you can set up 2FA (Two Factor Authentication) via Google Authenticator, SMS verification, Email verification, which can then be required for logging in. You can also set up a trading password so that nobody can trade on your account without the unique trading code.
Kucoin even supports anti-phishing codes. These will be shown in official emails by Kucoin as well as their official login page. That way, you always know you are on the real Kucoin website and not a fake website that is trying to steal your login information.
These features add further layers of security, and we highly recommend you do that right away in the “Account Security” section.
Final Note
Kucoin requires KYC verification and offers crypto traders a great platform where they can buy and sell cryptos. Traders can buy, sell, deposit, and withdraw cryptos after completing KYC. You also get full access to the futures market, where you can trade with low fees and up to 100x leverage.
If you want to verify your identity, you can simply follow our step-by-step guide. Doing so will unlock your daily withdrawal limit of 200 BTC per day.
You can learn more about Kucoin in our full Kucoin review.
Kucoin KYC FAQ
Does Kucoin require KYC verification?
Yes, Kucoin made KYC verification mandatory in 2023. You must verify your identity, otherwise you can not use Kucoin.
Can I buy Cryptos on Kucoin without KYC?
No, you can not buy cryptos on Kucoins spot market without KYC. However, for verified users, Kucoin offers credit card and bank payments for direct crypto payments.
Is Kucoin legal?
Yes, Kucoin is a legal crypto exchange operating in over 100 countries. However, some countries are restricted from using Kucoin due to regulations. We do not recommend using Kucoin from restricted areas.
