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Who and when must pass the verification (KYC)?

  • Updated

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 15,000 EUR and/or withdraw greater to 1,000 EUR (in the amount of the equivalent in cryptocurrency) within a month;

Example 2: A user from Japan made a deposit of 14,900 euros, and within the same month he is willing to deposit another 105 euros. In this case, the user has two options: limit his deposit to 14,900 euros during the current month or pass the verification (KYC) since the total deposit amount of 15,005 euros* exceeds the established limit.    

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

High-risk countries:

  • Afghanistan; 
  • Albania;
  • The Bahamas; 
  • Barbados; 
  • Botswana; 
  • Cambodia; 
  • Ethiopia;
  • Ghana; 
  • Iceland;
  • Iraq;
  • Jamaica;
  • Laos;
  • Libya;
  • Mauritius;
  • Mongolia; 
  • Myanmar;
  • Nicaragua; 
  • Nigeria;
  • Pakistan;
  • Panama;
  • Samoa;
  • Saudi Arabia;
  • Sri Lanka;
  • Trinidad and Tobago;
  • Tunisia;
  • Yemen; 
  • 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 - 15,000 euros* (in equivalent);
      • for withdrawals - 1,000 euros* (in equivalent).

Example 3: During one month, a user from Finland has withdrawn an equivalent of 300 euros, then another 400 euros, and now intends to withdraw 50 euros. The total withdrawal amount would be 750 euros (in equivalent). In this case, both conditions are met: the limit of 1000 euros 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;
  • Canada;
  • Crimea region;
  • Cuba;
  • Democratic People’s Republic of Korea (North Korea);
  • Guam;
  • Iran;
  • Northern Mariana Islands;
  • Puerto Rico;
  • Syria;
  • The USA;
  • U.S. Virgin Islands;
  • United States Minor Outlying Islands.

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