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Who and when must pass the verification (KYC)?

The verification (KYC) is mandatory if you are:

1. A resident of a high-risk country;

Example 1: A user from Ghana, which is considered to be a high-risk country, cannot deposit, trade or withdrawal funds from the exchange without being verified.

2. Your country isn’t considered as a high-risk one, but you intend to deposit greater to $1,000 and/or withdraw greater to $30,000 (in the amount of the equivalent in cryptocurrency) within a month;

Example 2: A user from Japan made a deposit of $900, and within the same month he is willing to deposit another $105. In this case, the user has two options: limit his deposit to $900 during the current month or pass the verification (KYC) since the total deposit amount of $1,005* exceeds the established limit.

*The amount is calculated at the time the deposit/withdrawal request is submitted.

High-risk countries:

  • Afghanistan;
  • Albania;
  • Barbados;
  • Botswana;
  • Ethiopia;
  • Ghana;
  • Iraq;
  • Libya;
  • Nicaragua;
  • Nigeria;
  • Pakistan;
  • Panama;
  • Trinidad and Tobago;
  • Zimbabwe.

The verification (KYC) is not required if both of the following conditions are met:

1. You are not a resident of a high-risk country.

2. The funds you deposit or withdraw during a calendar month don't exceed the limit:
  • for deposits - $1,000 (in equivalent);
  • for withdrawals - $30,000 (in equivalent).

Example 3: During one month, a user from Finland has withdrawn an equivalent of $3,000, then another $4,000, and now intends to withdraw $500. The total withdrawal amount would be $7,500 (in equivalent). In this case, both conditions are met: the limit of $30,000 is not exceeded and the user is not a resident of a high-risk country. Therefore the user can withdraw his funds without passing the verification (KYC).

*The amount is calculated at the time the deposit/withdrawal request is submitted.

The verification (KYC) procedure and use of the KickEX exchange are not possible (due to the legal and policy requirements of the AML/CFT) if you are a resident of a country from the prohibited list.

Prohibited countries:

  • American Samoa;
  • Democratic People’s Republic of Korea (North Korea);
  • Syria.