What is KYC verification?
On Bitfinex, verification refers to the more commonly known KYC, an acronym for “know your customer” or also “know your client”.
The verification process is used to validate a customer's identity and will include information such as a valid government-issued identification card, utility bills with name and residential address, bank statement, etc.
Frequently Asked Questions in this article:
- Is there a guide to the verification process?
- Do I need to verify my account to start trading?
- Which types of accounts are available?
- What levels of verification are available?
- How long does each verification level take?
- What if my ID does not have an expiration date?
- What if I don't have an Area Code for my phone number?
- Which documents do you accept as Proof of Residence?
Is there a guide to the verification process?
Yes! The video below will take you through the procedure.
Do I need to verify my account to start trading?
When you create an account on Bitfinex by linking your email address, your account becomes verified on the Basic level.
What Basic level allows:
- to deposit and withdraw most listed currencies on Bitfinex;
- to make exchange and margin trades;
- to provide margin funding;
- to have access to the Bitfinex OTC market.
Further verification is required if you wish to deposit/withdraw fiat currencies (e.g. USD), for selected utility and stablecoins (e.g. LEO, Tether USDt tokens) and/or to access advanced trading options.
Note: As per our Terms of Service, we reserve the right to ask for KYC information at any point in time if your account activity raises flags.
Which types of accounts are available?
Bitfinex offers two types of verification options:
- Individual account - for professionals and individual traders
- Corporate account - for institutional investors and corporations
What levels of verification are available?
Bitfinex offers four levels of verification:
- Basic Plus;
Each level of verification offers different advantages. For a complete overview, please check our dedicated article.
How long does each verification level take?
The Basic level of verification is available immediately when creating an account and linking your email address.
Basic Plus offers an instant verification, only taking 10-30 seconds to complete.
Intermediate and Full account verification levels take 2-3 working days.
Note: Verification requests can take longer if they are incomplete or if they are submitted during periods of significant public interest in cryptocurrencies. You will be notified by email when your account is verified.
What if my ID does not have an expiration date?
If your ID does not have an expiration date, please select the last date available on our verification page.
What if I don't have an Area Code for my phone number?
Please enter a “0” instead of the area code.
Which documents do you accept as Proofs of Residence?
- Utility bill (water, gas, mobile, internet, etc.);
- Letter from a government department;
- Tax statement;
- Insurance statement;
- Credit card statement;
- A certified statement from a Notary;
Note: The Proof of Residence provided must be no older than 90 days.
If you have any questions, please feel free to contact Bitfinex Support.