Compliance shouldn't be a bottleneck. At EXTRACTBIT, we have reimagined the Know Your Customer (KYC) process to be as fast and frictionless as possible without compromising on security or regulatory standards. Our Instant KYC system allows you to verify your identity and start trading in minutes, not days.
AI-Powered Verification
We utilize advanced Artificial Intelligence and Machine Learning algorithms to automate the verification process. When you upload your document, our system instantly analyzes:
- Document Authenticity: Checking for holograms, microprint, and other security features.
- Data Consistency: Ensuring the data on the ID matches the information provided in your profile.
- Facial Biometrics: Comparing your selfie with the photo on your ID to ensure they are the same person (Liveness Check).
Verification Tiers
Our system is tiered to suit your needs:
- Level 1 (Basic): Requires basic personal info. Allows for small crypto deposits and withdrawals.
- Level 2 (Advanced): Requires ID scan and Selfie. Unlocks higher fiat deposit limits and increased withdrawal caps. Approvals typically take 2-5 minutes.
- Level 3 (Pro): Requires Proof of Address. Unlocks unlimited trading and high-volume corporate accounts.
Data Privacy and Security
We understand that handing over personal documents requires trust.
Encryption: All KYC data is encrypted with AES-256 and stored in a segregated, secure environment, separate from transactional data.
Compliance: We are fully GDPR quality. We do not sell or share your personal data with third parties for marketing purposes. Your data is strictly used for compliance and legal requirements.
Getting Verified
To start the process, simply go to your "Account Settings" and click "Verification". Have your passport, driver's license, or national ID ready. Follow the on-screen prompts, and you'll be ready to trade the full suite of EXTRACTBIT products in no time.