KYC (Know Your Customer)

A typical KYC flow asks for a government ID, a selfie or liveness check, and sometimes proof of address. Exchanges usually structure this in tiers: an unverified or lightly verified account can often do small trades, while full verification unlocks higher withdrawal limits and additional payment methods.

As an illustration of the mechanism (not a specific platform's real numbers): an account might be capped at a modest daily withdrawal limit before verification, and unlocked to a much higher limit once full KYC is approved — the exact figures vary by exchange and jurisdiction, which is why it's worth checking an exchange's own terms.

A common mistake is assuming KYC is a one-time formality that never resurfaces. Exchanges can request re-verification, additional documents, or a source-of-funds check later, especially before large withdrawals — plan for that instead of being caught off guard.