KYC Account Verification Process

In order to deposit and withdraw funds to and from your NIOC Exchange account, you will have to undergo a verification process.

At NIOC Exchange, we follow the Anti-Money Laundering (AML), Know Your Customer (KYC), and Counter-Terrorism Financing (CTF) laws and regulations.

The KYC verification process includes completing an online questionnaire and submitting the supporting documentation. Additionally, you are also required to submit a signed declaration confirming the authenticity of the submitted information.

The document verification can take anywhere up to 1-2 weeks. Once all the documents are submitted, the account verification process will commence. You will be notified through email upon successful verification.

NOTE – Please bear in mind that you don’t have to be verified to start trading. Verification is required when you wish to deposit or withdraw fiat currencies like USD, and utility and stable coins like OKB, LEO, USDK. Users who wish to hasten the deposit process also need to have their account verified. On the other hand, users who wish to trade, deposit, or withdraw almost any cryptocurrencies don’t necessarily have to get their accounts verified.

What Should You Do to Get Verified?

  • Head over to the ‘Verification’ section under ‘Account’ in your NIOC Exchange platform.
  • Go through the terms carefully before beginning the verification process.
  • Choose your Country of Residence and input all the information requested.
  • Tap the ‘Submit’ button to start your account verification process.

What Are The Verification Requirements?

  • A properly filled online form.
  • You must be of at least 18 years of age.
  • Information required:
  1. Telephone Number
  2. Email Address
  3. Residential Address.
  • The identification documents required include two forms of valid identification with a picture issued by the government. The acceptable identifications are:
  1. International Passport
  2. National Identification Card
  3. Permanent Residence Card.

In case you don’t have 2 forms of ID, provide one and reach out to us to arrange a Skype call. Please be reminded that other identification documents which are not mentioned in the above list will not be accepted such as health cards, military cards, electoral cards, and temporary permits.

Please ensure that the identification document meets the below criteria so that it passes our quality check.

  1. All the four edges of the document should be completely visible.
  2. The submitted ID document should be signed and the signature is should be clearly visible.
  3. Any documents that appear to be masked or altered will not be accepted.
  4. Please provide a colour scan or picture of the documents. Photocopies of the documents will not be accepted.
  • Proof of Address – The accepted list of residential address proof includes the following. All the documents shouldn’t be older than 3 months and should state your name and residential address.
  1. Utility bill linked to the residential property. Though gas, electricity, internet, water, and landline telephone bills are accepted, mobile phone bills and parking invoices will be rejected.
  2. Dated bank statement under your name. However, bank references, insurance policies, pension statements, and transfer receipts will not be accepted.
  3. A correspondence issued by the government. Documents issued by any NGO, private companies, or other non-official authorities won’t be accepted.

Please ensure that the identification document meets the below criteria so that it passes our quality check.

  • The entire document should be in Latin characters (a-z). In case you document happen to be in non-supported characters, please reach out to our customer support team and provide them with the translated copies in English.
  • Your address in the document should be exactly the same as the one you input under your residential address field.
  • The address document should hold your legal name.
  • The document shouldn’t be older than 3 months in case of bank statements and utility bills, and not older than 6 months in case of government-issued correspondence.
  • Make sure all four edges of the documents are completely visible.
  • The document you submit should clearly include your name, address, issue date, and issuer name.
  • Your document must be of at least 300 DPI quality in the file formats PDF, JPEG, JPG, or PNG.
  • Your document size shouldn’t be larger than 5 MB.

Once you upload all the documents and input all the necessary information, click on the ‘submit’ button. Under the account verification section, you will be able to view the status of your KYC verification process.

Upon successful authentication, you will be notified through email.

Congratulations! You can now start trading!

**Based on our Terms of Service, we hold the right to ask for KYC information during any instance in time when your account activity raises flags.