KYC Verification Differences in Summary
| Unverified KYC | Verified KYC | |
| Crypto Deposit Limit | Unlimited | Unlimited |
| C2C Limit | ✅ | ✅ |
| Crypto Withdrawal Limit | 100,000 USDT Daily | 500,000 USDT Daily |
| Review Time | - | 3-5 Business Days |
What requirements are needed to set up registration for basic information of Coinlocally KYC verification?
Users must fill the First Name, Last Name, Country or Region, Document Type and Document ID Number. Also, Document Cover, Personal Information Page and Handheld ID with Personal Signature required.
Which documents can be accepted in Coinlocally KYC verification?
- Passport
- Driving license
- Other legal Documents
Note:
Your documents verification must have MRZ to be verified like Passport document.
Why my KYC verification has been rejected from Coinlocally?
- Any other local documents are not accepted except Passport, driving license and Government Issued Card.
- The Documents has been Expired.
- The Document’s photos must be clear and has been taken completely visible. Otherwise, it can be result to denied.
- All ID card that has sent by you must contained MRZ that encloses the document holder’s personal date.
- Your KYC document has reviewed by our specialist team and we recognized that you should send another document such as (Driving license, national ID card or passport) for us and wait till your document approved by us.
What is MRZ?
MRZ or Machine-Readable Zone is a particular area in an identity document (Passport specifically) that encloses the document holder's personal data. Nowadays, almost every country's official identity or travel documents have MRZ, containing confidential information encoded.
Is there any limit for daily trading withdrawal without KYC verification?
No, there is no limit and users can deposit and trade unlimited and also users can withdraw up to 100,000 USDT per day without KYC verification.
How much is the Fiat deposit and withdrawal limitation in KYC verification?
The minimum purchase amount is 15 USD, and the maximum is 2000 USD per single transaction. These limits may change based on the order supply from our liquidity providers. For the latest updates, please check official announcements from Alchemy Pay.
How long does identity verification take for fiat purchasing?
Identity verification is typically processed automatically, with feedback provided within one minute. However, if the documents or images submitted do not meet our requirements, manual verification may be necessary, leading to potential delays. Generally, most verifications are completed within a few minutes to 24 hours.
What is review time for verified KYC Verification?
The review time for Basic KYC verification is almost about 3-5 business days.