Hey people! 

We know that Know-Your-Customer (KYC) or identity verification can be annoying – especially when you’re so excited to start trading crypto immediately. And since we could no longer use BVN, we’ve been holding it down with the National Identity Number (NIN). But, that has come with its own issues.

Thanks to your feedback, we now have a faster and simpler KYC system that works for everyone and will make it easier to verify your identity. Here’s how it works: 

1. Before KYC/Account Verification

If you just signed up or you currently have level 1 or 2 verification, you will now be on Level 0 and will need to upgrade to the new Basic level. Before upgrading to the basic level, you’ll be able to do the following:

  • Deposit up to $100
  • Deposit any amount of crypto (no deposit limit)
  • You won’t be able to withdraw fiat or crypto until you upgrade to the basic plan. 

2. Basic Level (ID Document and Selfie)

In this step, you upload a Valid ID, which can be one of the following: 

  • National ID card 
  • Driver’s license 
  • Voter’s card 
  • International passport 

You will also have to upload a video recording of yourself. Please, follow the instructions you see on the app verification screen. Once you upgrade to this level, you’ll be able to do the following:

Fiat/Local Currency Transactions – Only Available in Nigeria

  • Deposit any amount in Naira (no deposit limit)
  • Withdraw up to:
    • 2,000,000 daily
    • 14,000,000 weekly
    • 56,000,000 monthly

Crypto Transactions

  • Deposit any amount of crypto (no deposit limit)
  • Withdraw up to: 
    • 1,000,000 USDT daily
    • 5,000,000 USDT weekly
    • 20,000,000 USDT monthly

3. Advanced Level (Proof of Address)

If you currently have level 3 verification, then you’ll be in the basic level in the new KYC system. This means you’ll have to upgrade to the new advanced level. In this step, you’ll need to upload a document or utility bill that shows your address. Once you upgrade to the advanced level, you’ll be able to do the following:

Fiat/Local Currency Transactions – Only Available in Nigeria

  • Deposit any amount in Naira (no deposit limit)
  • Withdraw up to:
    • 10,000,000 daily
    • 70,000,000 weekly
    • 280,000,000 monthly

Crypto Transactions

  • Deposit any amount of crypto (no deposit limit)
  • Withdraw up to: 
    • 2,500,000 USDT daily
    • 12,500,000 USDT weekly
    • 50,000,000 USDT monthly

If you want higher transaction limits than the advanced level provides, you can reach out to us by sending an email to [email protected]

Summary (TL:DR)

  1. If you’ve done up to the Quidax level 2 verification (NIN/BVN), you will be moved to the Pre-Basic Verification level in the new KYC system. So, you will have to upgrade to the new basic level.
  2. If you’ve done up to the Quidax level 3 verification (ID document), you will be moved to Basic KYC in the new KYC system. So, if you need a higher transaction limit, you’ll have to upgrade to the advanced level.

If you’ve done up to the Quidax level 4 verification (Proof of Address), you will be moved to Advanced KYC in the new KYC system.