Exchange KYC Verification Guide: Why It Is Needed, What to Prepare, and Fixing Rejections
- KYC (identity verification) is required by most large exchanges before you can deposit, trade fully, withdraw or claim new-user rewards.
- Prepare a valid government ID, a good camera and a well-lit room. Some accounts also need proof of address.
- Most rejections come from blurry photos, glare, expired IDs, name mismatches or an unsupported country.
On this page
Quick answer
KYC means Know Your Customer. It is the identity check an exchange does before it lets you use its full services. You upload a photo of your ID, take a selfie or short face scan, and sometimes provide proof of address.
On Binance and Bybit, KYC is needed for most things that matter: deposits, withdrawals, P2P trading and new-user rewards. It usually takes minutes, but it can take longer if your documents need a manual review.
Why exchanges ask for KYC
- Laws and licences. Regulated exchanges must follow anti-money-laundering (AML) and counter-terrorist-financing rules in the countries where they operate.
- Country rules. KYC tells the exchange where you live, so it can apply the right rules or send you to a local entity.
- Account protection. A verified identity makes it harder for someone else to take over your account and easier for you to recover it.
- Fair rewards. New-user bonuses are for one person once. KYC stops people from making many accounts.
What to prepare
| Item | Details |
|---|---|
| Government ID | Passport, national ID card, or driving licence (accepted types depend on your country) |
| Valid date | The ID must not be expired |
| Phone or webcam | A camera that can take a clear, sharp photo |
| Good light | Even daylight or a bright room, no strong lamp directly on the card |
| Personal details | Full legal name, date of birth and address exactly as on your documents |
| Proof of address (sometimes) | A recent utility bill, bank statement or official letter showing your name and address |
Accepted documents differ by country and change over time. Check the list shown in the verification screen.
KYC levels in simple terms
Exchanges usually have more than one level.
| Level | What it usually needs | What it usually unlocks |
|---|---|---|
| Basic | Personal details, ID, selfie or face scan | Deposits, trading, standard withdrawals |
| Advanced | Proof of address, sometimes more checks | Higher limits, some products |
| Extra checks | Source of funds or other questions | Very large amounts or flagged accounts |
The exact names and limits are set by each exchange and region. Look at Account → Identification (Binance) or Account & Security → Identity Verification (Bybit) to see your current level.
Step by step
- Log in on the official app (the app usually gives the smoothest camera experience).
- Open the identity verification section and choose your country of residence. Choose your real country.
- Enter your personal details exactly as they appear on your ID.
- Choose your document type and photograph the front, and the back if asked.
- Complete the selfie or face scan. Follow the on-screen movements.
- Add proof of address if requested.
- Submit and wait. You get a notification when it is approved or rejected.
Tip: If you signed up with a referral code, such as ZXLEBJK on Bybit, finishing KYC is usually what makes you eligible for the new-user tasks. On Bybit the current offer is $20 for signing up and verifying your identity, plus up to $250 in extra task rewards (checked 2026-11-15). Read the event terms for conditions.
Why KYC gets rejected (and how to fix it)
| Reason | Fix |
|---|---|
| Blurry or dark photo | Use daylight, hold the phone steady, tap to focus |
| Glare on the card | Tilt the card slightly, turn off flash, avoid lamps above you |
| Edges cut off | Show all four corners of the document |
| Expired document | Use a valid ID |
| Name or date mismatch | Type your details exactly as on the ID, including middle names |
| Unsupported document type | Use a passport or another listed document |
| Selfie did not match | Remove glasses, hat and mask, face the camera, use even light |
| Proof of address too old | Use a recent document (often within the last three months; check the screen) |
| Address document name mismatch | The name must match your verified name |
| Country not supported | The exchange cannot serve your country. Use a local licensed exchange |
| ID already used | The document is linked to another account. Contact support |
After fixing the problem, you can usually resubmit from the same screen. If you are rejected several times with no clear reason, contact support through the official app and ask which part failed.
Things you should never do
- Do not use someone else’s ID or let someone verify for you. It breaks the rules and can lead to frozen funds.
- Do not select a country you do not live in, and do not use a VPN to hide your location. Exchanges compare this information and can close the account.
- Do not edit photos of your documents.
- Do not send ID photos to anyone in a chat, even if they say they work for the exchange. Upload only inside the official app or website.
Is it safe to give an exchange my ID?
There is always some risk when you share personal data online. You can lower it:
- Use only large, well-known exchanges and the official app.
- Check the exchange’s privacy policy for how long data is stored.
- Never upload ID documents to a site you reached through an email or chat link.
- Turn on 2FA so a leaked password alone is not enough to enter your account.
How long does KYC take?
Many users are verified within minutes. Manual reviews can take longer, especially during busy periods or when extra documents are needed. If it is taking much longer than the time shown in the app, contact support through the official channel.
FAQ
Can I use an exchange without KYC? On major exchanges such as Binance and Bybit, most features, including withdrawals and rewards, require KYC. Exchanges that skip KYC often carry more legal and security risk.
Can I verify two accounts with the same ID? No. One identity is allowed one verified account on the same exchange.
I moved to another country. What should I do? Contact support and ask how to update your country of residence. You may need new proof of address, and some products may change.
Why do I need to verify again? Exchanges sometimes ask for re-verification when documents expire, rules change or your account activity changes.
Will KYC give me the sign-up bonus automatically? Not always. Many rewards also need you to accept tasks in the Rewards Hub and complete a deposit or trade. Check the event terms.
This site contains referral links. If you sign up with our code, we may earn a commission at no extra cost to you. Crypto trading is high risk and you can lose all of your money. Nothing here is financial advice. Do not use a VPN or false residence details to get around country restrictions. It breaks the exchange’s terms and your account can be frozen.