What is KYC identity authentication?
KYC, also known as Know Your Customer, is a guide for authenticating customer identities in the financial services industry. It requires professional institutions to verify the identity of relevant accounts and conduct suitability and risk assessments, with the aim of minimizing the risks involved.
The operation process of KYC
I.Operation steps
WEB
1. Log in to the CoinW official website and enter the identity authentication interface:
C0 Unauthenticated: Basic account authentication level;
Identity authentication needs to be carried out sequentially from C1, C2, and C3;
2. Click the 【 Verify Now 】 button below the corresponding Verify level to jump to the Verify interface;
C1 basic Verification: According to the interface prompts, fill in the nationality, first name, last name, ID type, ID number, birthday, and upload ID photos;
After successful upload, please be patient and wait for the review to pass. If it does not pass for a long time, you can contact the official online customer service for assistance.
APP
I. Login to the CoinW APP, go to the homepage, click on the account icon at the top left corner to enter the personal center interface, then click on the 【KYC】icon at the top right corner to enter the Identity Verification interface.
Click on the "Upgrade KYC" button above the corresponding authentication level, then you will be redirected to the authentication interface.
For C1 Basic Verification: Follow the prompts on the interface to fill in your nationality, first name, last name, document type, document number, birthday, and upload document photos.
After successful upload, please patiently wait for the approval. If it takes a long time or if you encounter any issues, you can contact the official online customer service for assistance.
C2 Primary Verification: Building upon the basic information provided for C1 authentication, upload photos of both sides of your ID card. After submitting the application, follow the prompts on the interface to complete the authentication process. Please be patient while waiting for approval. If it takes longer than expected, feel free to contact the official online customer service for assistance.
C3 Advanced Verification: Once you've completed C2 authentication, you can proceed to C3 advanced authentication, granting you higher account privileges and services. Follow the interface instructions to record and upload two video segments. After successful upload, we will complete the review within one working day. Please contact the official online customer service for assistance if the review takes longer than expected.
II. Important Notes
C1 Basic Verification:
Please upload a real ID photo, otherwise it will be rejected;
C2 Primary Verification:
Each account has three opportunities to modify the C1 certification information. Please modify the information carefully;
When filling in the name, please fill in the surname and first name separately and pay attention to the order of filling;
C3 Advanced Verification:
Kindly click on the verified for processing your C3 Advanced Verification
III. Identity Verification Policy
1.) Is identity verification required before trading? CoinW establishes identity verification procedures based on the laws and regulations of anti-money laundering (AML), know your customer (KYC), and counter-terrorism financing (CTF).
Upon creating an account using a phone number or email address, the account is automatically classified as unverified.
The privileges for different KYC verification levels are as follows:
Note: According to our terms of service, CoinW reserves the right to request KYC information from users if there are security concerns regarding their accounts.
IV. What are the levels of identity verification?
CoinW offers three levels of identity verification:
- C1 Basic Verification
- C2 Primary Authentication
- C3 Advanced Verification Authentication
Each level of identity verification grants different functionalities, with higher levels granting higher privileges.
V. FAQs
I. What if my real-name authentication is rejected?
Authentication failure may be caused by the following reasons:
1. Incorrect ID information
Please double-check your ID information and resubmit for authentication review.
2. Photo information does not match ID information
Please ensure that the ID information matches your own and resubmit for authentication review.
3. Unclear photo information
Take new photos ensuring that the information is clear and visible. If your authentication is not approved, we will send you an email explaining the specific reasons.
4. How long does the real-name authentication process take?
After successfully submitting your real-name authentication, we will complete the review within one working day. In special circumstances, such as a large influx of new users, verification time may take longer.
5. My ID has expired, can I still verify?
Sorry, the platform does not accept expired documents for real-name authentication.
6. My ID is about to expire, can I still verify?
The platform accepts documents with a validity period of more than three months for real-name authentication. If the validity period is less than three months, we recommend that you apply for a new document as soon as possible for authentication.
7. Is there an age limit?
CoinW real-name authentication has an age limit of 16-75 years old. Applications from individuals below or above this age range will be rejected.