Which KYC verification documents are needed?

KYC, which stands for Know Your Customer, is an important aspect of doing business in the digital currency space. For brevity, we’ve put the quick steps to get started at the beginning of this post. If you are interested in learning why KYC is necessary, scroll down.

Before your trial ends and you can start accepting cryptocurrency payments in production, you need to go through Whalestack’s Know Your Customer (KYC) process. Our verification process guides you through the requirements step-by-step and below is a brief summary of what to expect.

Step 1: Gather Your Documents

After opening an account with Whalestack, individuals will need to submit the following documents for your KYC verification:

  • Government-Issued Identification Card
  • Address Verification

The address verification is usually any statements such as a utility bill or bank statement from the past three months.

Companies and legal entities need to provide additional documents, such as:

  • Memorandum and Articles of Association
  • Beneficial Owner Declaration
  • Proofs of Residence for Directors, significant shareholders, and UBOs
  • Possibly additional documentation, depending on your business and space you operate in

Step 2: Upload Documents to our Site

Once you have prepared your documents, upload them with these steps:

  1. Go to your account’s settings page and look for KYC verifications.
  2. Select the verification module (e.g. crypto transfers, or bank transfers)
  3. Fill in the form and upload the requested documentation

Why You Need KYC

KYC is a standard mandatory procedure when any monetary transaction is involved, even outside the world of cryptocurrency such as with banks and mutual funds for example. KYC authenticates you and your details and adds to the overall security of the crypto exchange. It makes sure that both Whalestack and you operate within our legal compliance requirements.

Take your time and go through all the steps outlined here to have a smooth and successful KYC application.

For more information about Whalestack’s KYC / AML Policy, click here.

Last Update: Oct 2, 2023

Getting StartedKYC Verifiations