Verification on the Poloniex exchange

Poloniex – that cryptocurrency exchangeThe following are some of the most popular spot trading. To start working on the service’s site, you need to register an account. To increase withdrawal limits and use all exchange functions, it is also recommended to verify your account on the site poloniex.com.

Polonix offers its users 2 levels of account, which determine the amounts available for withdrawal and access to different instruments. In the Exchange Help Center there is a section “Verification of account”, which describes in detail the conditions of the procedure. It is important to study these materials before you register and start trading on the exchange.

Level 1

With account level 1, the trader gets access to trading on the company’s terminal, unlimited deposits and buying cryptocurrencies for fiat currency through Simplex system. Poloniex user can also use the following functions:

• Withdrawal of up to $10,000 per day (up to $50,000 per day with two-factor authentication enabled). Up to $10,000 per day (up to $50,000 per day with two-factor authentication enabled).
• API.
• Trollbox.
• Steaking.
• Lending.

Such customers can participate in contests. But if they win, they may not receive a prize, but its value in one of the cryptoassets. To receive gifts, the user must be verified. To get level 1, you need to register your account with your email and password, and then follow the link sent in the email. It will open the login window. After authorization, the user will confirm the creation of the account and will get level 1.

Level 2

After verification, the Poloniex trader can use the features available for the account level 2:

• Spot trading and deposits without restrictions.
• Withdrawal of up to $500,000. Up to $1,000,000 per day (up to $1,000,000 with 2FA enabled).
• API.
• Trollbox.
• Buying cryptocurrency with a bank card.
• Lending.
• Possibility to restore 2FA and manually reset the password.
• Restoration of funds.

How do I get verified?

In myAlpari you can verify your account. To do this, open the verification form and fill in all the fields. They include the last name and first name, address, date of birth. The procedure includes several stages, at each of which additional data is entered to verify the trader’s identity.

The Poloniex Help Center has a section dedicated to verification. It contains articles on account levels, tips on going through the procedure and photo requirements. The Poloniex administration warns that it uses an automated system to verify a customer’s identity. In order for the application to be processed correctly, the support team recommends:

• Make sure to use the correct first and last name (the first name must match the ID).
• Provide the full address.
• Take photos in a place with good lighting.
• Check that all information is visible and well readable on the document image.
• In the photo with the ID card, hold the document closer to the camera, extending your arm so that it is visible. Also make sure you can clearly see your face and ID card.
• While checking, taking a photo with your face, keep a note next to it with the name of the crypto exchange and the date written on it.

By following this advice, the user can expect their application to be processed within an hour. There may be several error messages that appear in the personal account. That’s why it’s important to check the information in the account and email in order to have time to correct the error and send the request for verification again. The Poloniex support team also provides tips to help troubleshoot problems related to verifying a trader’s identity:

• Update your browser or the Flash plugin. The best programs to use are Google Chrome and Firefox.
• Close all applications that can use the camera.
• Check if the webcam is working properly.
• Do not edit data in documents.

You can also verify your identity via your mobile device using the company’s app. In case of errors and refusal to verify your identity, contact technical support. You can make a screenshot of the error message and provide other details about what happened. This will help the administration to understand the reasons for the refusal faster.

Verification for legal entities

Poloniex offers services to legal entities, including specialized technical support, API, increased withdrawal limits, etc. The administration has developed a simplified process of account opening and company account verification. To register as a legal entity, the exchange offers to fill out an application via Google Forms. In it, you need to specify your email, phone number and company name. There are several requirements for such accounts:

• Providing a certificate of registration or other statutory documents.
• Specifying the names of all employees who can trade on the exchange.
• Email confirmation.

Additional information or documents may also be required. Withdrawal limit is determined individually. Legal entities registered on Poloniex can add a whitelist function. Once it is enabled, funds can only be sent to addresses added to such a list, made together with the exchange manager.