What materials are required for Upbit's KYC certification?

Upbit, one of the leading cryptocurrency exchanges in South Korea, requires users to complete a Know Your Customer (KYC) process to enhance security and comply with regulatory standards. The KYC certification process on Upbit involves submitting various documents to verify identity and address. Here, we will detail the materials required for Upbit's KYC certification, ensuring you understand each step and document needed.

Personal Identification Documents

To begin the KYC process on Upbit, you must provide personal identification documents. These documents are essential for verifying your identity. Upbit accepts various forms of ID, but the most commonly used are:

• Passport: A valid passport is widely accepted for international users. Ensure the passport is not expired and all details are clearly visible.
• National ID Card: For South Korean residents, a national ID card is a primary document. The card must be current and all information legible.
• Driver's License: Another accepted form of ID is a driver's license. Like the other documents, it should be valid and clearly readable.

When submitting these documents, make sure to upload high-quality images where all details, including your photo, name, and ID number, are visible. Blurry or incomplete images may lead to delays in the verification process.

Proof of Address

In addition to personal identification, Upbit requires proof of address to confirm your residence. This document should be a recent utility bill, bank statement, or any official document that displays your name and address. The key requirements for this document are:

• Issued within the Last Three Months: The document must be recent to ensure the address is current.
• Clear and Legible: All details, including your name and address, should be clearly visible.
• Official Document: The document should be from a recognized institution such as a utility company or bank.

Commonly accepted documents for proof of address include:

• Electricity Bill
• Water Bill
• Bank Statement
• Internet Bill

When uploading this document, ensure it meets the criteria mentioned above to avoid any issues during the verification process.

Additional Documents for Corporate Accounts

If you are applying for a corporate account on Upbit, you will need to submit additional documents. These documents are necessary to verify the legitimacy of the business and the authority of the person opening the account. The required documents include:

• Certificate of Incorporation: This document proves the legal existence of your company.
• Business Registration Certificate: This certificate confirms that your business is registered with the relevant authorities.
• Articles of Association: These documents outline the purpose, structure, and regulations of your company.
• Authorization Letter: A letter authorizing the person opening the account to act on behalf of the company.

Each of these documents must be clear and legible, and any foreign documents should be translated into Korean or English if necessary.

Selfie with ID

To further secure the verification process, Upbit requires a selfie with your ID. This step helps confirm that the person applying for the account is the same as the one in the identification documents. Here are the steps to take the selfie:

• Hold Your ID: Hold your ID card, passport, or driver's license next to your face.
• Clear and Well-Lit: Ensure the photo is taken in a well-lit environment with no shadows obscuring your face or the ID.
• Visible Details: Your face and the ID details should be clearly visible in the photo.

Upload this selfie as part of the KYC process to complete your verification.

Submission and Verification Process

After gathering all the required materials, you can proceed with the submission and verification process on Upbit. Here's how to do it:

• Log into Your Upbit Account: Access your Upbit account using your credentials.
• Navigate to the KYC Section: Find the KYC or verification section in your account settings.
• Upload Documents: Follow the prompts to upload your personal identification, proof of address, and any additional documents required for corporate accounts.
• Submit Selfie with ID: Upload the selfie with your ID as instructed.
• Review and Submit: Double-check all the documents for clarity and completeness before submitting them for verification.

Once submitted, Upbit's team will review your documents. The verification process may take a few days, so be patient and ensure all documents meet the criteria mentioned above.

Frequently Asked Questions

Q: Can I use a digital version of my ID for Upbit's KYC?

A: No, Upbit requires physical copies of identification documents. Scanned or digital versions are not accepted for the KYC process.

Q: What should I do if my KYC application is rejected?

A: If your KYC application is rejected, review the rejection reason provided by Upbit. Common reasons include unclear images or outdated documents. Resubmit the required documents ensuring they meet all criteria.

Q: How long does the KYC verification process take on Upbit?

A: The KYC verification process on Upbit typically takes a few business days. However, this can vary based on the volume of applications and the clarity of the submitted documents.

Q: Can I start trading immediately after submitting my KYC documents?

A: No, you cannot start trading until your KYC application is approved. You will receive a notification once your verification is complete, and then you can proceed with trading activities.