Guide · 4 min read
Why do you need identity verification to trade crypto?
Before your first purchase or sale, PayFaye asks you to verify your identity. This step, often called KYC, protects your account and complies with regulation.
Why the check exists
Exchanges between crypto and real money are subject to rules against fraud and money laundering. Verifying customers’ identity makes sure every account belongs to a real person, and protects customers against someone taking over their account.
What to provide
- A valid ID document, front and back.
- A selfie taken in the app to confirm the document is yours.
How it works
- In the app, open identity verification from your profile or at your first exchange.
- Photograph your ID document, front then back, in good light and without glare.
- Take the selfie following the on-screen instructions.
- The team reviews your file. You are notified as soon as a decision is made; if documents must be sent again, the app explains why.
Limits and levels
Once your identity is verified, you can trade within the limits of your level (per transaction and per month). A higher level, with enhanced verification, raises those limits. The current amounts are shown on the country pages and in the app.
Your documents
Your documents are only used to verify your identity and meet legal obligations. To learn how they are handled and how to exercise your rights, read the privacy policy.
Frequently asked questions
- Can I trade without verification?
- No, identity verification is required before your first exchange.
- How long does verification take?
- The team reviews each file and notifies you as soon as a decision is made. A clear, complete file is processed faster.
- My file was rejected, what now?
- The app tells you what to redo (unreadable document, expired ID…). Send the requested documents again or contact support.
Verify your identity once
Ready to trade
Create your account, verify your identity once, then buy or sell at the rate shown.