Mandatory Identity Verification Period Started on Cryptocurrency Platform Bitget to Increase Transaction Security

Bitget, the world’s leading crypto derivatives and Copy Trade platform; continues to increase its measures to ensure that its users carry out transactions safely.

The company aims to both increase the transaction security of users and prevent money laundering and financing of illegal activities with the identity verification system KYC (Know Your Customer) launched on September 1.

KYC, which allows users to log in to the system by identifying their identities, has become mandatory for all new Bitget users as of September 1, 2023. Bitget, which is among the world’s top five leading cryptocurrency platforms, takes the reliable transaction environment it has offered to date to the next level, thanks to KYC, which users can register in just a few minutes.

By analyzing the risk profiles of customers through the identity profiles defined thanks to KYC, which aims to increase the security compliance of processors on the Bitget exchange, it is aimed to prevent money laundering and financing of illegal activities in accordance with global and regional financial regulations.

Bitget Manager Gracy Chen said in a statement about the KYC implementation, “Bitget is increasing its security requirements every day to protect its users. We believe that KYC will strengthen user security and reduce the risk of breaches. KYC is the standard we must follow in our service as a comprehensive financial services platform. “This way, we strengthen our commitment to provide a safe trading environment for our loyal customers by verifying the identities of users.”

Transaction Limits of Users Who Do Not Register for KYC Will Be Restricted

Bitget’s KYC application is divided into Level 1 and Level 2. Starting September 1, all new users must complete level 1 KYC verification to access Bitget services, while existing users must complete their registration by October 1 at the latest. Level 2 authentication is available to users who complete Level 1.

Those who did not complete the identity verification process before October; will only have the option to withdraw funds, cancel orders, use subscriptions and close positions and will be subject to restrictions for new transactions. Users who complete KYC verifications will be able to continue to securely access all services such as earning money, spot transactions, futures transactions, copying and initiating transactions.

Demonstrating its commitment to providing reliable service with KYC compliance, Bitget is currently registered with a Virtual Asset Service Provider in Poland and has completed similar procedures in Lithuania. Bitget plans to take new steps in the coming period to ensure the security of its users worldwide.

Detailed information about Bitget’s KYC application can be found at www.bitget.com/tr/academy/your-quick-guide-to-kyc-on-bitget.