Victoria, Seychelles, November 16th, 2023 – Bitget, the world’s leading cryptocurrency exchange and Web3 company, announced mandatory Know Your Customer (KYC) requirements on September 1, 2023 and is now advancing its rollout of the implementation. Under updated rules, all new users are required to complete identity verification upon registration. Existing traders who have not yet completed KYC will have a grace period until December 15, 2023. This initiative marks a significant step in Bitget’s ongoing commitment to providing a secure and regulated trading environment for its users worldwide.
The KYC requirements aim to improve security compliance for traders on the Bitget exchange. The compliance team will use KYC information to identify customers and analyze risk profiles, as KYC procedures help prevent money laundering and financing of illegal activities per global and regional financial regulations.
Bitget will employ Level 1 and Level 2 KYC verifications, granting access to a range of services including earning, spot trading, copy trading, and launchpad. From September 1, all new sign-ups will be required to complete Level 1 KYC to access Bitget services. For users who registered prior to September 1, failing to undergo the verification process before December, will mean restricted access limited to withdrawals, cancel orders, redeem subscriptions, and closing positions. They will be restricted from creating new trading orders.
Looking ahead, Bitget plans to double its efforts on compliance to instill further trust and confidence from users worldwide.
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In this article, we will be giving you a step-by-step guide on how you can verify your identity and complete Know Your Customer (KYC) to access all Bitget products without restrictions.
Bitget also employs a well-rounded robust security strategy including Proof of Reserves, Protection Fund, and cold storage in addition to KYC. Learn more about Bitget’s balanced approach to security with the dual-level KYC system, and understand the user benefits of completing KYC.
Recognising the importance of user cooperation in this security initiative, Bitget is rewarding its users for feedback on their identity verification experience.
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
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