What is KYC?
KYC means “know your customer.” KYC guidelines for financial services require that professionals make an effort to verify the identity, suitability and risks involved, in order to minimize the risk to the respective account.
Why is KYC required?
KYC is necessary to improve security compliance for all traders.
Does my company need to register for KYC？
If your company wants to withdraw more than 2 BTC a day, you’ll need to complete KYC verification.
Please refer to the following withdrawal limits for each KYC level:
|
KYC Level |
Lv.0 (No verification required) |
Lv.1 |
|
Daily Withdrawal Limit |
2 BTC |
100 BTC |
**All token withdrawal limits shall follow BTC index price equivalent value**
Note:
Your company may receive a KYC verification request from Bybit.
How to submit a request for Business Lv.1
Please send an email to compliance@bybit.com. Be sure to include scanned copies of the following documents:
- Certificate of incorporation
- Articles, constitution or memorandum of association
- Register of members and register of directors
- Passport/ID and proof of residency of the Ultimate Beneficial Owner (UBO) owning 25% or more interest in the company (passport/ID, and proof of address within 3 months)
- Information of one director (passport/ID, and proof of address within 3 months), if different from the UBO
- Information of the account operator/trader (passport/ID, and proof of address within 3 months), if different from the UBO
Once the documents are verified by Bybit, you will receive an email of approval, and can then withdraw up to 100 BTC a day.
How will the company and individual information I submit be used?
The information you submit will be used to verify the identity of the company and individual(s). We will keep company and individual documents confidential.
How long does the KYC verification process take?
The KYC verification process takes approximately 24 hours.
Note:
Due to the complexity of document verification, KYC verification may take up to 48 hours.
What should I do if the KYC verification process fails for more than 48 hours?
If you encounter any problems with business KYC verification, kindly contact us via LiveChat support or drop an email to support@bybit.com.
For individual KYC verification information, please refer to Individual KYC FAQ.