Deribit Know Your Customer (KYC) Requirements as of 10 February 2020
Global regulation is changing and even though the various changes are not applicable to companies based in Panama, we always strive to prevent illegal activities on our platform. Nonetheless, we want to remain competitive and not restrict our clients too much.
Deribit has two different KYC levels , please find a summarising overview below, there is a distinction between retail and corporate KYC.
Level 0 requires only basic information.
Level 1 requires proof of your identification.
Deribit reserves the right to immediately close any of your accounts and liquidate any open positions if it is determined that you have provided false information about your location or place of residence.
Deribit has engaged with Chainalysis to monitor suspicious cryptocurrency transaction alerts in the Chainalysis Know Your Transaction (KYT) product, the real-time anti-money laundering (AML) compliance solution for monitoring cryptocurrency transactions.
In the beginning of February 2020, the KYC procedure will be accessible in the ‘Verification’ tab in the menu My Account in your account.
The overview of acceptable IDs via automatic upload are shown below. Please reach out via firstname.lastname@example.org should your ID not be stated in the overview.
When uploading your photo ID:
Ensure that your document is valid and not expired, without hole punches or other modifications
Ensure your document is in a well-lit area without glare. Natural sunlight is best
Photograph the entire document and avoid cutting off any corners or sides
Ensure the ID is fully visible and in focus
Use the Chrome browser to complete the verification
Try using your mobile device. In some instances you can use the mobile app to complete the ID verification step using your phone's camera.
Make sure the app or program you use to take the pictures does not add any logos or watermarks
Do not obfuscate any information on the ID