KYC (Know Your Client) is a set of standards and requirements to verify the identity of clients. Following KYC requirements makes cryptocurrency transactions more secure, and that improves the financial picture. By correctly performing the KYC process, the withdrawal limits are higher:
* Limit of a non-validated user: 1,000 dollars
* Limit of a validated user: 10,000 dollars
This entire process is done using Jumio's technology. Jumio supports over 3,500 different ID types from over 200 countries and regions to ensure global coverage of Bitcoin.me
To start the KYC process once connected to the exchange we will follow the following process:
Step 1. Tap the little icon behind your name.
Step 2. Click Account in the dropdown.
Step 3. On this screen you see that the current limit is 1,000 dollars and that the client is not verified. Click on ID Verification to begin the process.
Step 4. When the process begins, a new window will open where it will be indicated that the verification will begin.
Step 5. On this screen, select the issuing country of your documents. Keep in mind that depending on the country you will have more or less documents available to validate.
Step 6. On the next screen you will be allowed how you want to upload the photos: continuing the process on the mobile, taking the photo with the webcam or uploading the photos from the device. In this example we will take the photos from the webcam.
Step 7. On the next screen it is indicated that a photo of the front side of the identity document will be requested.
Step 8. In order to take the picture, you need to authorize the page to use the camera.
Step 9. Once the photo is taken, you will be asked to take a photograph of the back of the document.
Step 10. As a last step, a biometric verification will be requested to guarantee that the person who is doing the KYC corresponds to the same person of the document presented.
Step 11. Once the process is done, JUMIO will verify the validity of the documents as well as the biometric verification. If the process is correct, it will be shown as a verified account and the withdrawal limit will be increased.