Comparison between several crypto-exchanges in tiered-KYC requirements
| Binancea | Krakenb | Bybitc | ||
|---|---|---|---|---|
| Unverified | Rights/Benefits | No trade or withdrawal functions | ||
| Tier 1 | Requirement | Email, Name, ID info, photo ID, selfie | Email, name, date of birth, phone number, physical address, occupation information, ID Card | ID, Selfie |
| Rights/Benefits | Trade functions and a USD 50,000 daily withdrawal limit | Purchase cryptocurrencies via online banking, digital wallet and debit/credit cards, deposit and withdraw cryptocurrencies and cash, staking, rewards, trades | Deposit by Crypto or fiat, withdraw cryptocurrencies with a daily limit of 1 million USDT, Buy crypto, trade and derivative functions, finance, earn products, NFT | |
| Tier 2 | Requirement | Information required in Tier 1 plus | ||
| Occupation and proof of address | KYC questionnaire and proof of address | Proof of address | ||
| Rights/Benefits | Benefits at Tier 1 plus | |||
| Withdrawal limit at USD 2M per day | Benefits at Tier 1 plus a Higher limit in cryptocurrency deposits and withdrawals | Benefits at Tier 1 plus withdrawal limit at 2 million USDT per day | ||
| Binance | Kraken | Bybit | ||
|---|---|---|---|---|
| Unverified | Rights/Benefits | No trade or withdrawal functions | ||
| Tier 1 | Requirement | Email, Name, ID info, photo ID, selfie | Email, name, date of birth, phone number, physical address, occupation information, ID Card | ID, Selfie |
| Rights/Benefits | Trade functions and a USD 50,000 daily withdrawal limit | Purchase cryptocurrencies via online banking, digital wallet and debit/credit cards, deposit and withdraw cryptocurrencies and cash, staking, rewards, trades | Deposit by Crypto or fiat, withdraw cryptocurrencies with a daily limit of 1 million USDT, Buy crypto, trade and derivative functions, finance, earn products, NFT | |
| Tier 2 | Requirement | Information required in Tier 1 plus | ||
| Occupation and proof of address | KYC questionnaire and proof of address | Proof of address | ||
| Rights/Benefits | Benefits at Tier 1 plus | |||
| Withdrawal limit at USD 2M per day | Benefits at Tier 1 plus a Higher limit in cryptocurrency deposits and withdrawals | Benefits at Tier 1 plus withdrawal limit at 2 million USDT per day | ||
Note(s): ahttps://www.binance.com/zh-TC/blog/community/%E5%8A%A0%E5%AF%86%E8%B2%A8%E5%B9%A3%E7%9A%84-kyc-%E9%A9%97%E8%AD%89--%E5%8F%83%E7%85%A7%E6%AF%94%E8%BC%83-421499824684904092 [Last accessed date: 1st November 2024]
Benefits: https://support.kraken.com/hc/en-us/articles/360001395743-Verification-levels-explained [Last accessed date: 1st November 2024], Requirements: https://support.kraken.com/hc/en-us/articles/201352206-Verification-level-requirements [Last accessed date: 1st November 2024]
https://www.bybit.com/en/help-center/article/Benefits-of-Different-KYC-Levels [Last accessed date: 1st November 2024]
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.