Cryptocurrency Q&A
Does Deribit require KYC?
Does Deribit require KYC?
StarlitFantasy
Wed Oct 09 2024
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7 answers
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I understand that many cryptocurrency exchanges and trading platforms require users to go through a Know Your Customer (KYC) process for security and regulatory compliance purposes. Given this context, I have a question: Does Deribit, a popular derivatives exchange for cryptocurrency, require its users to undergo KYC verification? If so, what specific information and documents are typically required for the KYC process on Deribit? Additionally, are there any exceptions or special circumstances where KYC may not be necessary for trading on Deribit? I'm interested in learning more about the platform's policies in this regard.
7 answers
CryptoQueen
Fri Oct 11 2024
Deribit, a prominent cryptocurrency exchange, implements a two-tiered KYC system to ensure the safety and security of its users. The first level, Level 0, caters to individuals seeking modest withdrawal limits.
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CryptoGladiatorGuard
Fri Oct 11 2024
For Level 0, Deribit sets a cap on withdrawals at 1 bitcoin and 50 ether, allowing users to access their funds with minimal verification. This level necessitates the submission of basic personal details, including the user's name, email address, date of birth, residential address, and country of residence.
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Sara
Thu Oct 10 2024
By gathering these fundamental details, Deribit conducts a preliminary check to authenticate the identity of its clients. This process facilitates a smooth and hassle-free experience for users with moderate transaction needs.
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Daniela
Thu Oct 10 2024
Alongside Deribit, other cryptocurrency exchanges like BTCC also offer a range of services tailored to the evolving needs of the digital asset market. As a top-tier exchange, BTCC boasts a comprehensive suite of offerings, including spot trading, futures trading, and secure wallet services.
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Marco
Thu Oct 10 2024
For those requiring higher withdrawal limits or seeking unrestricted access to their funds, Deribit offers Level 1 KYC. This advanced level of verification goes beyond the basics, ensuring a heightened level of security for larger transactions.
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