Tag: Kraken KYC

According to Kraken, it takes anywhere from 60-120 seconds to verify a Starter account since the process is mostly automated. A few downsides of the Starter verification level is the fact that you won’t be able to deposit or withdraw fiat currencies.

Kraken is a U.S.-based crypto exchange that was founded in 2011 and offers 50+ tokens. … Except for Starter accounts, employment information and SSN for U.S. customers are also required . The Intermediate and Pro accounts also require valid ID, proof of residence and a face photo (if in South Africa or the U.S.).

Intermediate: To upgrade to an Intermediate or Pro account, you’ll need to provide a valid photo ID (such as a passport or driver’s license), proof of residence (such as a utility bill), and your Social Security number or ITIN . Once you’ve upgraded, you’ll be able to deposit fiat and trade on Kraken futures.

On a known and trusted exchange like Coinbase, Gemini, or Kraken — yes, it is safe . They have to gather identification documents to be in compliance with AML/KYC laws in the US, the same as a bank would verify your identity if you were physically present to open an account.

Laws and regulations require that we verify your account by asking who you are and where you live . Kraken takes every measure to prevent fraud and be fully compliant with KYC and AML regulations for trading of cryptocurrencies.