Bitget Exchange Requires Level 1 Kyc For Withdrawals

8/21/2023 4:00:53 AM

(MENAFN- CoinXposure) Bitget Exchange intends to enhance its know-your-customer (KYC) policy to provide improved safeguards for users' rights and interests, adhere to regulatory requisites within the global cryptocurrency domain, and establish a secure milieu for cryptocurrency trading.

Commencing October 1st, individuals who still need to fulfill the Level 1 KYC authentication will exclusively retain the ability to effect fund withdrawals, order cancellations, and position closures. In order to attain Level 1 KYC clearance, users are required to furnish official government-issued documentation and undergo facial recognition procedures.

The augmented KYC authentication prerequisites are slated to become operational from September 1st, 2023. After this date, all newly registered users must complete the Level 1 KYC verification to access a spectrum of services on Bitget, encompassing the deposition and trading of digital assets. Users registered before September 1st, 2023, must finalize their Level 1 KYC verification before October 1st, 2023.

During the interlude spanning September 1st and October 1st, users who have yet to conclude the Level 1 KYC verification can continue engaging in routine activities such as depositing, withdrawing, and trading.

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Nevertheless, effective October 1st, users who remain outstanding in obtaining Level 1 KYC verification will be restricted solely to withdrawal operations, order cancellations, subscription redemptions, and position closures. They will be precluded from initiating fresh trading orders.

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