Signing up for a crypto exchange takes just a few minutes, while verification can take anywhere from a couple of minutes to several days. In this lesson, we'll walk through both step by step: which documents you'll be asked for, why applications get rejected, and how to secure your account from day one.
- Sign up only through the exchange's official website or app, and check the address beforehand.
- Verification (KYC) is a mandatory identity check: an ID document, a selfie or video, and sometimes proof of address.
- Most rejections come down to glare on photos, mismatched details or an unsupported country.
- Right after signing up, turn on two-factor authentication and an anti-phishing code.
Before you sign up: pick an exchange and check the address
Before you hit “Sign up,” decide on a platform. Exchanges aren't all the same: they differ in fees, the coins they list, deposit methods and, most importantly, the countries they operate in. We have a separate lesson on how to choose an exchange for trading that explains in detail how to compare them.
Once you've decided, find the official website. Search engine ads can lead you to phishing copies that look exactly like the real thing. It's safer to download the app from Google Play or the App Store, follow the link to the website from inside the app, and from then on only log in through a saved bookmark.
Prepare a long, unique password in advance, plus a separate email address that you'll use only for crypto services. A password you've already used somewhere else may have leaked along with another site's database, and attackers try those email-and-password pairs on exchanges first.
A password manager is the easiest way to create and store long passwords. It also protects you from fake websites: the address won't match the saved one, so the manager simply won't fill in your password.
Creating your account step by step
On the big platforms, the process is mostly the same. To start, all you need is an email address or phone number; you'll be asked for personal details later, during verification.
The second factor comes in different forms. An SMS code is better than nothing, but someone can hijack your number by getting a replacement SIM card issued. An authenticator app on your phone is much safer, and ideally, if the exchange supports it, use a passkey or a hardware security key. Write your backup recovery codes down on paper and keep them somewhere other than next to your phone.
A lot of people put off two-factor authentication, and that's a mistake: without it, your account hangs on a single password, and a leaked email can easily turn into lost money. Everything about account protection, address whitelists and anti-phishing codes is covered in the lesson on security on a crypto exchange.
- Open the official website or app and tap “Sign up”
- Enter your email or phone number and create a password
- Enter the confirmation code from the email or SMS
- If you have a friend's referral code, enter it now: many exchanges don't let you add one later
- Accept the user agreement, after reading the sections on restricted countries and fees
- Go straight to the security settings and turn on two-factor authentication with an authenticator app
What KYC is and why the exchange needs your documents
KYC stands for Know Your Customer. Anti-money laundering laws require a regulated exchange to know who's depositing money and who it's sending withdrawals to. Without verification, most platforms will heavily restrict your account or won't let you use it at all.
But it works in your favor too: if your account gets hacked or you lose access to it, your verified details help prove the account is yours. On the other hand, be wary of exchanges that take money with no checks at all. They may not have a license, and if something goes wrong, there'll be nobody to turn to.
Exchanges have different verification levels. The basic level usually unlocks deposits and trading, while the advanced level raises withdrawal limits and enables bank transfers. Requirements depend on your country, and the terms change from time to time, so check the platform's help center.
| Level | What they usually ask for | What it unlocks |
|---|---|---|
| Basic | Name, date of birth, country, ID document and a selfie | Deposits, trading, withdrawals within limits |
| Advanced | Proof of address: a bank statement or a utility bill | Higher limits, bank transfers |
| Enhanced review | Information on the source of funds, sometimes a questionnaire | Large transactions, lifting restrictions |
KYC is part of AML (Anti-Money Laundering), the set of rules designed to fight money laundering. Under the same rules, an exchange can hold a suspicious transfer and ask you to explain it.
How to pass verification on the first try
In the app, you'll take a photo of your document and do a face check on camera. The automated system often makes a decision within minutes, but if your application goes to manual review, the wait can stretch to days.
Applications are most often rejected for trivial reasons: the photo is blurry or has glare, the corners are cut off, the details in the form don't match your passport, or the document has expired. Sometimes it's about your country: if the exchange doesn't operate in your jurisdiction, verification won't go through even if you did everything right.
For the face check, take off your glasses and any headwear, face the light, and follow the on-screen prompts without rushing: turn your head, blink, move closer. If your laptop camera isn't great, do this step in the mobile app instead.
And don't buy ready-made verified accounts or “turnkey verification.” Technically, an account like that belongs to someone else, so the exchange can block it at any moment along with your money, and proving the funds are yours will be next to impossible.
- Photograph your document in daylight against a dark, solid background, without flash
- Make sure all four corners are in the frame and every field is readable
- Enter your name in Latin characters exactly as it's written in your document
- For proof of address, use a recent statement that shows your name and address
- Don't use other people's documents and don't pass verification on someone else's behalf
Say no if someone offers to pay you for passing KYC with your documents. An account will be opened in your name for someone else's transactions, and you'll be the one answering to law enforcement.
If verification is stuck or your account gets restricted
If your application has been sitting in “Under review” longer than promised, it's most likely being checked by a staff member rather than the automated system. Don't send duplicate documents: that only pushes you further back in the queue. Instead, contact support once through the official website or app and include your application number.
Sometimes even a verified account gets restricted out of the blue: you're asked to go through verification again or explain where your funds came from. Don't panic. It's a routine procedure, not an accusation. Answer to the point and attach statements and your transaction history. What you shouldn't do is get around the restriction with a second account in a relative's name: almost every exchange's rules forbid that.
Don't fall for messages offering to “unlock your account in an hour.” No staff member will speed up a review for a fee, and this is one of the most common scams around exchanges.
What to do after verification
Once your status says “Verified,” don't rush to deposit money. First, check your settings: is two-factor authentication on, is an anti-phishing code set, and is a withdrawal address whitelist set up (if the exchange supports one)?
Then look up the fees and limits for your level: how much you can withdraw per day and which deposit methods are available. Make your first deposit small so you can test the route from your bank to the exchange and back. How the purchase itself works is covered in the lesson on how to buy crypto.
Keep copies of the documents you submitted and your conversations with support. The exchange may ask you to re-verify after a rule change or before a large transaction, and it's easier to respond when your documents are ready.
If you later decide to connect your account to a third-party service, such as a trading terminal, create an API key with only the permissions it actually needs. For trading, trade permission is enough, so don't enable withdrawals. If the option exists, restrict the key to the service's IP addresses.
This is a word you set in your account settings, and the exchange includes it in every email it sends you. If an email “from the exchange” doesn't contain your code, it's fake.
Open the help center of the exchange you plan to sign up with and find three things: which countries it doesn't operate in, which documents it needs for basic verification, and what withdrawal limit it gives you. Then check your passport against the checklist from this lesson: is it about to expire, and exactly how is your name spelled in Latin characters? If something doesn't match, it's better to find out now than after a rejection.
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FAQ
How long does exchange verification take?
With automated review, it usually takes a few minutes. But if your application goes to manual review or you're asked for extra information, you may have to wait several days.
Can I trade without verification?
On big centralized exchanges, it's almost always either not allowed or heavily restricted. Decentralized exchanges are simpler: no KYC is needed, but you're responsible for your own wallet and any mistakes when sending funds.
Is it safe to upload my passport to an exchange?
Any service carries a risk of a data leak, so it makes sense to stick with large, regulated platforms. Only upload documents on the exchange's website or in its official app, and never send them through messaging apps.
Why was my verification rejected?
Most often it's down to photo quality, mismatched details, an expired document or an unsupported country. The reason is usually stated in the notification: fix the issue and apply again. If that doesn't work, contact support through the official website.
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