Does COINEX have a KYC process?

CoinEx is available in over 100 countries. However, it stopped servicing US customers in April 2021. CoinEx does not have a mandatory KYC process, but verified users can enjoy higher withdrawal limits and fee discounts. CoinEx offers a multi-sig cold wallet storage and has never been hacked.

What is KYC & why is it important?

Also dubbed Know Your Client, KYC is a crucial part of measures designed to prevent money laundering and terrorism financing. KYC is a standard practice in the investment industry to ensure that advisors know specific information about their clients — meaning it extends beyond crypto exchanges.

Does your bitcoin exchange have a KYC and anti money laundering policy?

For many bitcoin exchanges, an aspect of mandatory compliance with local legislation includes KYC and Anti Money Laundering (AML) efforts that showcase to enforcement what steps the exchange is taking to prevent money laundering and other illegal activities. A major component of an effective AML policy is having a KYC process.

What are Know Your Customer (KYC) guidelines?

Know Your Customer (KYC) guidelines are requirements that compel financial services providers to make an effort to identify their customers. Fulfilling KYC requirements often includes gathering personal information about these customers by asking them to submit personal ID documents (e.g., passports), pictures of themselves or proofs of address.