Cryptocurrency Q&A
What is the KYC limit for PrimeXBT?
What is the KYC limit for PrimeXBT?
Daniela
Thu Oct 03 2024
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6 answers
1606
I'm curious to know, what exactly is the Know Your Customer (KYC) limit for PrimeXBT? Do they have a specific threshold or level of verification that users need to reach before they can access all the features and services offered on the platform? And if so, how does this KYC process work? Is it a straightforward and efficient experience, or does it require a lot of paperwork and documentation? I'm also wondering if there are any benefits to completing the KYC process, such as increased trading limits or access to additional tools and features. Clarifying these points would be greatly appreciated.
6 answers
WhisperInfinity
Sat Oct 05 2024
Cryptocurrency exchanges often offer the flexibility of trading without account verification, allowing users to start trading immediately. However, this comes with certain limitations, particularly in terms of withdrawal and deposit amounts.
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Elena
Sat Oct 05 2024
For instance, on exchanges that do not require account verification, users may face a 24-hour withdrawal limit of $20,000 for cryptocurrencies. This can be a significant constraint for traders who need to withdraw larger amounts.
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Andrea
Sat Oct 05 2024
Similarly, the deposit limit for Money deposits and alternative deposit methods can also be restrictive, with a cap of $2,000. This can hinder traders who rely on these methods for funding their accounts.
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Maria
Fri Oct 04 2024
To overcome these limitations, users can opt to verify their accounts on the exchange. Account verification involves providing personal information and documents to the exchange, which then verifies the authenticity of the information.
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GinsengBoostPower
Fri Oct 04 2024
Once the account is verified, users can enjoy increased withdrawal and deposit limits. For Crypto withdrawals, the 24-hour limit is lifted, allowing for larger withdrawals as needed.
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