What is KYC Account Verification?
Account verification (a KYC check) is necessary for:What is KYC Account Verification?
- cryptocurrency withdrawals in excess of 2 BTC or 30 ETH,
- fiat depostis and withdrawals by bank transfer (for any amount),
- purchase of PLN°, EUR°, and USD° stablecoins via GoCash,
- token trading on some markets (in rare cases, only if required by the issuer).
As regulations are constantly changing, cryptocurrency companies are required to follow so-called financial security measures and investigate the source of funds.
In the case of exchanges through bank transfers, we can ask for statements about the legality of the origin of the funds (along with relevant documents).
This is the so-called Proof of Funds process – in accordance with relevant AML and counter-terrorist financing regulations.
Details and instructions for completing the statement will be sent in an email to the address associated with your Kanga account.
For the purpose of account verification, Kanga Exchange requires that you provide scans or photographs of a state-issued identification document,a recent proof of residence document, ID number and PEP status. Screen captures will not be accepted.
Please note that a proof of residence document is required even if the address of residence is shown on the ID document.
The files must be in JPG or PNG format. Maximum accepted file size is 3 MB.
Identification document requirements
- Acceptable forms of identification include: a state-issued ID card (both sides) or passport (photo page).
- The document must be valid (i.e. not expired or canceled).
- The document must show the user’s name in the Latin alphabet in Polish or English languages (certified translation).
- All data on the document must be visible and legible. No parts of the document can be covered or obscured.
- All edges of the document must be visible.
- The image files cannot be altered in any way.
Proof of residence document requirements
- Acceptable proof of residence documents include: a utility bill (e.g. electricity, gas, water, phone or internet service, etc.), bank account or credit card statement, tax statement, insurance statement, mortgage statement, or lease agreement.
- The document must show the user’s name and full address in the Latin alphabet.
- The document must show the name of the issuer.
- The document must show the date of issue within the past 6 months.
How to verify your account on Kanga Exchange?
To start the account verification process, follow these steps:
- Log in and go to your account by clicking My account in the top right corner.
- Click the Verification tab.
- Click the Get Started button.
- Follow the instructions.
- Once all the details are provided, click the ‘Finish’ button. Your documents will be sent to Customer Support and will be verified as soon as possible. In specific cases (e.g. when the documents are illegible, the personal data is incorrect) the process of verification may take up to 3 business days.
You will be notified of the result of the verification process by e-mail. Should the KYC check fail (e.g. because of missing or invalid documents), you will be asked to correct the problem(s) and resubmit.