Understanding KYC In Crypto: How To Complete KYC On BTCC

Over the past years, as cryptocurrencies have witnessed growing popularity and growing adoption, more and more savvy investors are shifting their focus to crypto trading. Generally, traders buy or sell cryptos through a crypto exchange. To protect users’ asset security, most crypto exchanges require users to complete Know Your Customer (KYC) process when they register.

BTCC, one of the longest-serving crypto exchange in the world, enjoys a good reputation in terms of security, reporting zero security accident since its inception. Notably, BTCC implements compulsory know-your-customer (KYC) process. In this article, we will provide detail guidance on how to complete KYC on BTCC, thus making sure users to set a good and safe start on their crypto trading journey.

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Table of Contents

What is KYC in Crypto?

Why is KYC Important in Crypto?

Are There any Crypto Exchanges Without KYC?

How to Complete KYC On BTCC?

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What is KYC in Crypto?

KYC (Know Your Customer), refers to the series of processes that financial institutions, banks, exchanges, etc., must undertake to verify a customer’s identity to assess the risk they pose properly. When financial institutions provide services, they must understand the purpose of customer registration and conduct KYC (Know Your Customer) procedures. By requiring customers to provide identification documents or other supporting documents for real-name authentication, financial institutions can confirm whether the identity background of customers is legitimate, and also help establish risk management systems.

For crypto exchanges, conducting KYC is crucial to provide users with a safe a secure trading environment, ensuring the security of our users’ accounts. The process generally involves the crypto exchange obtaining customer information such as: Name, date of birth, national ID (passport, driver’s license, National Identity Number or other government-approved IDs) and address.

Why is KYC Important in Crypto?

In recent years, there have been frequent fraud and theft accidents in cryptocurrency trading, as well as illegal activities such as fundraising, money laundering and drug trafficking using cryptocurrency, so KYC has gradually become a rule that cryptocurrency exchanges must implement under the promotion of governments and financial regulators.

KYC in the crypto industry is extremely important for preventing criminal activities such as money laundering and terrorist financing and to protect users from being exploited. Individuals using a crypto platforms requiring KYC processes can be confident that they are transacting with other legitimate users and not bad actors.

Without KYC, cryptocurrency exchanges will face potential fraud and scams because there is no process to screen customers with criminal intent. This is one of the key reasons why several countries have passed regulations requiring KYC due diligence as part of anti-money laundering (AML) and counter-terrorism financing measures for crypto exchanges.

However, depending on the regulatory authorities KYC requirements for crypto exchanges may vary from jurisdiction to jurisdiction. After collecting this information, cryptocurrency exchanges use authentication solutions to verify the identity of their customers. This process ensures that VASP is fully aware of who the customer is and also spots criminals looking to leverage their platform for financial crimes.

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Are There any Crypto Exchanges Without KYC?

Yes, some cryptocurrency exchanges still operate without requiring Know Your Customer (KYC) verification. However, such platforms are becoming increasingly rare as global regulations tighten in response to rising financial crimes and concerns over illicit activities.

Decentralized exchanges (DEXs) like Uniswap and PancakeSwap remain the primary option for users seeking to trade without KYC verification. These platforms allow direct peer-to-peer transactions from personal wallets without requiring any personal information. Since they operate without a central authority, there is no entity enforcing identity verification.

Some centralized exchanges (CEXs) offer limited services without KYC, often imposing transaction caps to comply with regulations. While this may be convenient for users making small transactions, full verification is typically required for higher trading volumes, withdrawals, or access to advanced features.

However, regulatory pressures are forcing even previously non-KYC platforms to adopt stricter compliance measures. For example, in May 2024, Bybit implemented mandatory KYC verification for all users, reflecting a broader industry trend toward enhanced oversight.While non-KYC exchanges offer more privacy, they come with significant risks. These platforms often lack regulatory oversight, licenses, and consumer protection measures, making them more vulnerable to hacks, fraud, and operational failures. If an unregulated exchange collapses, goes bankrupt, or suffers a security breach, users may lose their funds permanently with little to no recourse.

When you select a best non-KYC exchange, conducting thorough research, selecting reputable platforms, and exercising caution are essential to safeguarding your assets.

Does BTCC Require KYC?

To enhance security and comply with regulatory requirements, BTCC mandates KYC verification for the deposit and withdrawal of fiat currency, as well as for accessing higher withdrawal limits. During the KYC procedure, users are required to submit valid identification documents along with a facial recognition scan.

While it is possible to use BTCC platform without completing KYC process, your daily withdrawal limit will be restricted. By verifying your identity, you unlock a higher limit of up to 1,000,000 USDT per day and gain access to exclusive platform campaigns that allow you to earn additional bonuses and rewards.

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How to Complete KYC On BTCC?

On BTCC, users are strongly recommended to complete KYC to ensure a safe trading  environment. At present, BTCC’s KYC process includes two levels: identity document verification and facial verification. Notably, users must finish the identity document verification first before proceeding to the facial verification.

Next, we will provide a step-by-step guide for how to complete KYC on BTCC exchange.

Step 1: go to the  BTCC official homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step 2: after registration, click on the profile icon on the right side of the navigation bar, then click on Identity verification page.

Step 3: tap Start verification in Identity document part to begin the verification process.

Step 4: Select your current residence countries, then tap Continue and select the document issuing country as well as the document type. Then take a picture of the document and upload it.

Step 5: after uploading the picture, tap Got it to return to the Account Settings page. During the verification process, the identity verification status will be shown as ‘Verifying ID’. Please wait while the system processes the verification.

When the status updates to ‘Facial Verification Not Completed,’ it indicates that your identity document verification process has been successfully completed. By tapping on ‘Identity Verification,’ you will gain access to view all the privileges available to you at the identity document verified level.

Facial Verification

After you have completed the identity document verification, you may continue to begin the facial verification process.

Step 1: tap Identity Verification on the Account Settings page. Then scroll down to the bottom, and you will see the part on Facial Verification. Tap Unverified to proceed with the facial verification.

Step 2: On the facial verification page, tap Continue and take a selfie. Please make sure that you position your face within the frame and follow the instructions.

Step 3: After capturing a selfie, you will see that your photograph is undergoing verification, a process that will take only a matter of seconds to finalize. Kindly tap ‘Got it‘ to revert back to your Account Settings page. Throughout the facial verification procedure, the status will be displayed as ‘Facial Verification in Progress‘.

Step 4: Once the status updates to ‘Verified’, it means you have completed all verification processes. Tap Identity Verification, and you will be able to see the benefits of a fully verified account.

That is all the information and guidance about how to complete KYC process on BTCC. If you are interested, start your crypto trading journey by starting from finishing KYC process on BTCC!

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