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 certification process helps prevent money laundering and the financing of illegal activities, while KYC certification is also required for users to increase their BTC withdrawal limits.
The following table lists the withdrawal limits at different KYC levels.
| KYC Tier | KYC0 （No KYC） | KYC Tier 1 | KYC Tier 2 (Advanced KYC) |
| Daily Withdrawal Limit* | ≦500,000 USDT | ≦2,000,000 USDT | ≦5,000,000 USDT |
| Monthly Withdrawal Limit** | - | - | - |
*Daily withdrawal limit updated every 00:00AM UTC
**Monthly Withdrawal Limit = Daily Withdrawal Limit * 30 days
In adidtion, Bitunix has set different withdrawal limits based on the security level and KYC verification level of your account. For accounts with only one security item (e.g., email, phone number, or Google Authenticator), the daily withdrawal limit is $10,000 USD equivalent in tokens.
To learn more about how to complete KYC verification, please refer to the following article:
Please note: KYC will be upgraded and iterated according to compliance and regulatory requirements.