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KYC Tiers and Benefits

  • Updated

What is KYC

KYC policy (Know Your Customer Well) is an enhanced scrutiny of account holders and is the institutional basis for anti-money laundering used to prevent corruption, and is a series of procedures by which financial institutions and cryptocurrency exchanges verify the identity of their customers as required. bitunix uses KYC to identify customers and analyze their risk profile. This verification process helps prevent money laundering and the financing of illegal activities, while KYC verification is also required for users to withdraw.

 

In adidtion, Bitunix has set different withdrawal limits based on the security level. For verified accounts with only one security item (e.g., email, phone number, or Google Authenticator), the daily withdrawal limit is limited to $10,000 USD equivalent in tokens. You can increase your daily withdarawl limit by setting up 2FA.

 

The following table lists the withdrawal limits at different KYC levels.

KYC Tier

KYC 0

(No KYC)

Lvl 1 KYC

(Basic KYC)

Lvl 2 KYC

(Advanced KYC)
Daily Withdrawal Limit* 0 USDT ≦2,000,000 USDT ≦5,000,000 USDT
Monthly Withdrawal Limit** - - -

 

*Daily withdrawal limit updated every 00:00 UTC

**Monthly Withdrawal Limit = Daily Withdrawal Limit * 30 days

 

To learn more about how to complete KYC verification, please refer to the following article:

How to Complete KYC Verification

 

Please note:

KYC will be upgraded and iterated according to compliance and regulatory requirements.

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