No, Phemex doesn’t require KYC. Phemex is considered to be a no-KYC crypto exchange. You can trade, deposit, and withdraw on Phemex without personal identification.
While most features are accessible to everybody, some features are locked for unverified Phemex users. Read on to learn more.
Phemex Withdrawal Limits
Phemex is a no-KYC crypto exchange with withdrawal limits based on your KYC level. A higher KYC level results in higher withdrawal limits.
There are three KYC levels on Phemex. Unverified, Basic Verification, and Advanced Verification
You can see the exact withdrawal limits in the table below. The limits reset every 24 hours, and there is no cumulative limit.
| KYC Level | 24h Withdrawal Limits |
|---|---|
| Unverified (KYC 0) | $50,000 |
| Basic Verification (KYC 1) | $100,000 |
| Advanced Verification (KYC 2) | $2,000,000 |
Is Phemex Safe To Use Without KYC?
We consider Phemex to be a relatively secure crypto exchange. The platform has never been hacked, offers generous daily withdrawal limits, and offers reliable service. Users can trade, deposit, and withdraw without having to undergo the KYC identification process.
However, we recommend you never keep your investments on a centralized exchange. Always withdraw your funds to your personal wallet when you are done with trading.
Phemex KYC Requirements
In order to verify your identity on Phemex, you must submit personal information, including government-issued documents. See all required details below:
Level 1 KYC (Basic Verification)
The requirements for the first KYC level are the following details:
- Personal information
- Government-issued ID, Drivers License, or Resident Permit ID
Level 2 KYC (Advanced Verification)
The requirements for the second KYC level are as follows:
- ID
- Facial Recognition (selfie)
FAQ
Does Phemex require KYC?
No, Phemex doesn’t require KYC verification. You can trade without the identification process on Phemex.
Is Phemex legit?
Phemex is one of the largest crypto exchanges, with over 10 million users. While Phemex appears to be a legitimate crypto exchange, we recommend storing your funds in your personal hardware wallet.
Is Phemex available in the United States?
No, Phemex is not allowed in the United States at all. While you can still sign up and trade with a VPN, we advise against it.
