New Internal Transfer Fees for Users Without KYC

Dear User – starting from April 17th, all internal transfers made by users without a verified account (KYC or KYB) will be subject to additional fees.

If you’re using Kanga Exchange without having completed the KYC or KYB verification process and you want to send an internal transfer — regardless of the amount — you’ll pay a 0.5% fee on the transferred amount. This fee is applied automatically.

How does it work in practice?

Example 1 – A user without KYC sends 5 ETH to a user with KYC

• The sender’s account is charged: 5.025 ETH
• The recipient receives: 5 ETH

Example 2 – A user with KYC sends 5 ETH to a user without KYC

• The sender pays: 5 ETH, no fee is applied
• The recipient receives: 4.975 ETH

Example 3 – Both users don’t have KYC, transfer of 5 ETH

• The sender is charged: 5.025 ETH
• The recipient receives: 4.975 ETH 

The total fee in this case is 1% of the transfer value.

Important: In accordance with our obligation to protect user data, we will not disclose whether the recipient of an internal transfer has a verified account (i.e. has completed KYC or KYB).

How to avoid the fee?

Complete your KYC verification – it only takes a few minutes. Once done:

• You won’t pay fees for internal transfers
• You’ll receive the full amount sent to you
• You’ll unlock all features of the exchange