The new release on 27th July 2020 brought in a change to our identity verification process for Individual accounts.

Previously,

  • Level 1: Users could deposit and trade cryptocurrencies without supplying any identity documents.

  • Level 2: Users could deposit and withdraw fiat and cryptocurrencies by supplying identity documents (ID and proof of address).

Currently,

Identity verification can now be done in three levels:

Level 1

If you have successfully created an Individual account, verified your email address, and accepted EQONEX Terms & Conditions, you are now at Level 1.

What you can do at Level 1

  • Explore the EQONEX dashboard

  • Have access to our Customer Support platform where our agents are readily available for any questions you might have about EQONEX

What you cannot do yet at Level 1

  • Deposit and withdraw fiat and cryptocurrencies

  • Trade

Level 2

Your Individual account reaches Level 2 status when you initiate the identity verification process by:

  • Providing personal information

  • Uploading an identity document

See how to upload an identity document here: How to complete your Individual Account verification on EQONEX

Your personal information and identity document are required for us to protect our customers against illicit activity on EQONEX. Data is managed and protected following our Terms and Conditions and Privacy Policy.

What you can do at Level 2

  • Everything Level 1 accounts can do

  • Deposit cryptocurrencies

  • Trade on spot*

* If you trade at Level 2, you will have to complete Identity Verification at Level 3 in order to withdraw

What you cannot do yet at Level 2

  • Deposit fiat currencies

  • Withdraw fiat or cryptocurrencies

  • Trade on margin

Important

Once you have uploaded your identity document, EQONEX will promptly perform a primary identity check based on the details you have provided. Proof of address or other documents may be required in addition to your identity document. We may also be required to conduct a video call with you if the provided documents prove insufficient for identity verification.

While the identity verification process is pending, you will not be able to withdraw any of the funds that are in your EQONEX account.

If the identity verification process is not completed within 30 business days of initiating the identity verification process, we are required to temporarily suspend all transactions on your account. This includes trading and depositing. We will resume these activities when verification is completed.

If the verification process remains incomplete for a further 90 business days after trading and depositing have been halted, your account will be closed.

Our Customer Support agents will be available throughout the process to assist you as required.

Level 3

Level 3 is when the verification process initiated at Level 2 is complete. Your Individual account is now fully verified and you can deposit, trade, and withdraw on EQONEX in both fiat and cryptocurrencies.

What you can do at Level 3

  • Deposit and withdraw fiat currencies

  • Deposit and withdraw cryptocurrencies

  • Trade on spot and margin

For further assistance or more information, please contact our Customer Support team via help@eqonex.com or click on the chat widget at the bottom right-hand side of the EQONEX page.

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