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Gate.io requires all new users to go through an identity verification KYC process to verify their identity.
This article will explain the KYC process at Gate.io and what you will need to do to verify your identity with the crypto exchange so you can start trading.
The KYC process at Gate.io is designed to comply with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. These regulations require Gate.io to collect certain information from its users to verify their identity.
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What is Gate.io?
Gate.io is a digital currency exchange that allows users to buy and sell cryptocurrencies. The exchange offers a variety of digital currencies, including Bitcoin, Ethereum, Litecoin, and more.
Gate.io also offers trading pairs with fiat currencies, such as USD and EUR. Gate.io is one of the leading exchanges in terms of trading volume and is available to users in over 130 countries. In our Gate.io review, we've covered everything you need to know about the crypto exchange, including fees, pros and cons, features, products, and benefits.
What is KYC?
Know Your Customer (KYC) is a standardized process to verify the identity of a financial institution's users.
This is done to comply with AML and CTF regulations, which require banks and other financial organizations (like crypto exchanges) to collect identity information from their users to prevent money laundering and terrorist financing.
Gate.io KYC - Why Do You Need To Verify With Gate.io?
The KYC process at Gate.io is designed to comply with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. These regulations require Gate.io to collect certain information from its users to verify their identity.
The information that Gate.io requires from its users helps to prevent financial crimes such as money laundering and terrorist financing.
Gate.io also uses the KYC information to comply with sanctions laws and regulations. Gate.io may be required to freeze or block accounts if the user is on a sanctions list. By verifying the identity of its users, Gate.io can ensure that it is not doing business with sanctioned individuals or entities.
What Are the Risks of Not Verifying Your Identity at Gate.io?
If you do not verify your identity at Gate.io, you will not be able to trade on the platform. In addition, your account may be subject to freezing or blocking if Gate.io is required to comply with sanctions laws and regulations.
How To Verify Your Identity at Gate.io (Step By Step)
Step 1 - Opening Your Account and Basic KYC
- Sign up for a Gate.io account by providing your email address and creating a password.
- Verify your email address by clicking on the link in the verification email that Gate.io sends to you. Then add any additional security measures you want for your account.
- Log into your Gate.io account and click on the "Verify Now" button under the "Account" section.
- Select your country of residence from the drop-down menu, fill out all required information (Full Name, Date of Birth, Identity Document Type (Passport for example), ID number, and click "Confirm and Submit".
- In the "Identity Document" drop-down, you can choose whether you want to verify your identity using your passport, ID card, or driver's license.
Step 2 - Verification Plus
Next, you're going to fill out what they call "KYC 2" or Verification Plus, basically advanced identity verification.
- Choose your country of residence
- Choose your province or state
- Type your city
- Type your street address
- Add your Postal Code
- Choose your ID document type (Passport, etc) - we'll use a Passport in this example.
- Enter your ID number
- Upload a photo or scan of the front and back of your passport. The passport must be valid and not expired.
- Click "Confirm and Submit" to submit your KYC application.
- Gate.io will review your application and if everything is in order, they will approve it within 1-2 business days (their website says 30 minutes to 12 hours, but it might take longer)
Step 3 - Facial Verification
Next, you can optionally choose facial recognition as an option for identity verification using facial verification.
You'll be redirected to a page to get started with this process. You'll need to choose "PC Camera" or "App" to take your picture. The website advises you to not wear a hat, glasses, or filters and to be in a well-lit area.
If the web app fails, you can optionally submit gesture photos, these are photos of you making various gestures.
Step 4 - Wait For Verification
Now all you need to do is wait to hear from the Gate.io team on whether or not your account identity verified successfully. KYC verification can be a pain, but once done, you're good to start trading and withdrawing on the platform.
If you have any issues, submit a customer support ticket with the team and wait for a response.
FAQs about Gate.io’s KYC process
The Gate.io KYC process usually takes 1-2 business days. However, it may take longer if Gate.io needs to collect additional information from you.
Yes, Gate.io requires all users to complete KYC in order to trade on the platform.
The minimum age for gate io KYC is 18 years old.
No, Gate.io requires all users to verify their identity before they can withdraw funds from the platform.
Yes, Gate.io allows users to deposit cryptocurrencies without completing KYC. However, you will need to complete KYC to withdraw funds from Gate.io.
Conclusion - Should You KYC With Gate.io?
The Gate.io KYC process is pretty easy and usually takes no more than 24 hours. It's mandatory, so if you're looking for a way around it, you're out of luck. We suggest you go trade on a decentralized exchange if that's what you're looking for.
Once you're done, you'll open up a whole host of new opportunities on the exchange, and be able to buy/sell and withdraw to your wallet.
All in all, we'd say it's worth it to KYC at Gate.io so you can take advantage of their huge selection of altcoins.
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