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Your KYC Questions Answered & $500 Bonus

Author: Alan W. Date: 2021-12-08 10:56:54

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Dear users,

Did you know that you can access much greater benefits after completing KYC on Phemex? You’ll be eligible for various bonuses, our premium membership, and potentially enjoy additional trading features. We encourage all of you to do KYC as soon as possible.

Phemex understands that many of you might have questions or concerns about the process, so we recently sent out a survey to select users. Here, we showcase and answer some of the most important responses. Congratulations to all responders featured here, you qualify for a bonus reward ranging from $15 – $150!

Congratulations to all our selected winners! If you didn’t win, don’t worry! If you complete KYC verification between Dec. 9 and Dec. 15, you’ll get a chance to win $100 bonus via lucky draw. We’ll select five more lucky winner amongst all those who finish KYC within Dec. 9 – Dec. 15 and give out $100 each, for a total of $500 prize pool.

There’s now only one hour left in the lucky draw event, so hurry and verify KYC to get a chance to win! Go verify now!

  • **Update as of 9:17 UTC Dec. 9: One lucky winner who completed KYC has already been selected and will receive $100 bonus. Congratulations to UID 679698!
  • **Update as of 12:12 UTC Dec. 14:  The second lucky winner who completed KYC has already been selected and will receive $100 bonus. Congratulations to UID 814686!
  • **Update as of 11:19 UTC Dec. 15: The third lucky winner who completed KYC has already been selected and will receive $100 bonus. Congratulations to UID 2412562!
  • **Update as of 11:59 UTC Dec. 15: The fourth lucky winner who completed KYC has already been selected and will receive $100 bonus. Congratulations to UID 2518566!
  • **Update as of 11:59 UTC Dec. 15: The final lucky winner who completed KYC has already been selected and will receive $100 bonus. Congratulations to UID 2073640!

If you have completed KYC, there will be an even bigger, exclusive event awaiting you on Dec. 24th.

1. User UID:2263550 asks:

“Will my personal information be exposed?”

Phemex Response: Absolutely not. We work with Onfido, one of the most secure and trust KYC providers in the space to keep your information safe at all times.

2. User UID:768676 says:

“I think phemex in undertaking kyc is a positive step towards being accountable to both its users and the market. It will also hopefully gear phemex towards regulatory compliance.”

3. User UID:2324515 asks:

“Is KYC also a token or coin I can buy?”

Phemex Response: Nope, KYC is not a cryptocurrency of any kind! KYC stands for “Know Your Customer,” and refers to a process of identity verification that financial institutions use to confirm the identity of their customers. For more details on what KYC is, check out our user guide.

4. User UID:2286577 says:

“I thought the process was easy to follow. I like the fact that you have photo ID and voice and video to verify my identity!”

5. User UID:1095650 asks:

“KYC process on Phemex was very easy and smooth (+10pts for that), but I have some concerns regarding my details’ security and misuse of my data. What measures do Phemex or their 3rd party client take to prevent data theft and maintain privacy?”

Phemex Response: Phemex and Onfido will never expose user information to unaffiliated third parties. For more details, please find below the security terms for both Phemex and Onfido.

Phemex Security Terms

Onfido Information Security

6. User UID:1243779 says:

“There is no question at the moment, but my concern is: This rule may gradually sow in our subconscious the idea that we are evil beings and need to be monitored.”

Phemex Response: Completing KYC does not mean Phemex or any entity will be monitoring you. KYC is a standard practice in many industries, including financial services. KYC completion helps us comply better with regulations and makes the platform as a whole more secure and transparent.

7. User UID:2281314 asks:

“Is kyc really necessary? Why its so important?”

Phemex Response: Phemex adopts KYC procedures to better comply with local regulations and to ensure secure platform operations for all users. Customers who do not complete KYC will face certain service restrictions, such as not being eligible for a premium membership, various bonuses, and more. To fully enjoy all Phemex features without limitation, we highly recommend that you complete KYC.

8. User UID:2389809 asks:

“Who controls the verification process on KYC?”

Phemex Response: Phemex partners with Onfido, one of the most secure and renowned identity verification platforms, to help us facilitate KYC verifications.

9. User UID:601335 says:

“I tried to send KYC multiple times but it always fail…”

Phemex Response: We’re sorry to hear about the submission failure. For more details on how to complete the KYC process, refer to our user guide instructions. If you still can’t get it to work, feel free to contact our customer support.

10. User UID:1113407 says:

“Amazingly, so fast compared to all the other apps I’ve worked on, the first impression is really good.”

Phemex Response: We’re super glad to hear about your positive experience. Thank you for your support, and happy trading!


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