Dear valued users,
We would like to inform you of an important update regarding our Know Your Customer (KYC) policy. Effective from 1st February, there will be changes to the withdrawal limits for users who have not completed the KYC process.
Changes to Withdrawal Limits (for Non-KYC Users Only):
Daily Withdrawal Limit: The daily withdrawal limit for non-KYC users will be adjusted from the current limit of $20,000 USD in token value to $10,000 USD in token value.
Monthly Withdrawal Limit: The monthly withdrawal limit will be reduced from $500,000 USD in token value to $150,000 USD in token value.
We understand that these changes may impact how you manage your transactions on our platform. This decision is in line with our ongoing commitment to comply with regulatory standards and enhance the security of our platform and its users.
Why This Change?
Regulatory Compliance: Adhering to financial regulations is vital for ensuring a secure and reliable trading environment.
Security Enhancement: Reducing limits for non-KYC users helps in mitigating risks and protecting the interests of our entire community.
What is KYC and Why is it Important?
KYC, or Know Your Customer, is a standard verification process used in the financial industry. It involves verifying the identity of our users to prevent fraudulent activities.
Completing the KYC process provides additional security for your account and enables higher withdrawal limits.
How to Complete KYC?
If you haven’t completed your KYC verification yet and wish to enjoy higher withdrawal limits, please follow the steps mentioned in this help guide.
If you have any questions or need assistance with the KYC process, please don’t hesitate to reach out to our support team. We are here to help!
Thank you for your understanding and cooperation in helping us maintain a safe and compliant trading platform.
The BITFLEX Team