Account Verification: KYC Level 2

Modified on Thu, 28 Dec 2023 at 06:09 PM

What is KYC Level 2?

KYC level 2 can be done in order to increase the daily limit of THB deposit and withdrawal, and crypto withdrawal in case your current limit is not enough for your usage.

Who is suitable for a level 2 account?

  • Any customer who wishes to deposit-withdraw more than 1 million THB per day, or withdraw tokens of more than 1 million THB per day.
  • Customers who already pass the account level 1 verification.

What will you be offered from a level 2 account?

  • Customers who pass KYC level 2 verification will be provided with an increase in THB deposit-withdrawal limit and crypto withdrawal, ranging from 1.25 million THB to 50 million THB (per day). However, the limit approval will depend on the consideration of the company.

Required documents for KYC level 2 application

There are 2 types of required documents for the level 2 application. Please see the details below.

 

Type of document

Acceptable document

Requirements

1. Proof of address

Choose to submit only 1 document

  • A utility bill: such as electricity, telephone, credit card, and internet bills.
  • A document issued by the government: such as a tax invoice, etc.
  • Bank statement

The submitted document must contain:

  • Name - Lastname:  must match with one on the Bitkub account.
  • Address: A contact address that differs from what is stated on the Bitkub account or ID card is acceptable.
  • Issuance date: must show the document's issue date that is not older than 90 days.


Remark:

The document must be fully complete and visible (must NOT be cropped or covered).

2. Proof of financial status or statement

Bank statement (must be submitted)

  • Must cover the transactions ranging at least from the last 3 months.
  • You should have a remaining balance of at least 200,000 THB per day.

The submitted documents must contain:

  • Bank name
  • Name on the document: must match with one on the Bitkub account.

 

Remarks:

  • The bank account must be a savings account or a fixed deposit account.
  • The document must be fully complete and visible (must NOT be cropped or covered).
  • The bank statement can be of any bank account other than the one that is bound to your Bitkub account.

 

Examples of documents

Examples of acceptable proof of address


Screen Shot 2565-11-22 at 10.32.37.png


Example of acceptable proof of financial statement (bank statement)

mceclip2.png
 

Level 2 application criteria

The daily limit of your account is determined according to the average ending balance of every day of your bank statement and the asset balance in your Bitkub wallet, which you can calculate and evaluate the daily limit that you may receive by following the steps below.

1. Check and combine the balances of your THB and digital assets wallet in your Bitkub account, and compare the range with Table 1 to see what score you will get from this step.


Table 1

Total asset value (THB)

Score (points)

0 - 199,999

0

200,000 - 499,999

0.25

500,000 - 999,999

0.5

1,000,000 - 1,499,999

0.7

1,500,000 - 1,999,999

2

2,000,000 - 4,999,999

4

5,000,000 - 9,999,999

6

10,000,000 - 14,999,999

8

> 15,000,000

12


Example

Mr. A has a remaining asset (THB and digital assets combined) on his Bitkub account worth 2,500,000 THB. In this case, Mr. A earns 4 points from this step.


2. Check the average remaining balance of your bank account (according to the bank statement you submit), and compare the range with Table 2 to see what score you will get from this step.


Table 2

Balance per day in the statement (THB)

Score (points)

0 - 199,999

0

200,000 - 499,999

0.5

500,000 - 999,999

0.7

1,000,000 - 1,499,999

1

1,500,000 - 1,999,999

3

2,000,000 - 4,999,999

5

5,000,000 - 9,999,999

7.5

10,000,000 - 14,999,999

10

> 15,000,000

15


Example

Mr. A has a remaining balance on his bank statement averaging 480,000 THB per day (the minimum balance we require is at least 200,000 THB per day). Thus, Mr. A earns 0.5 points in this step.


3. Combine the scores from steps 1 and 2, then check the total score with Table 3 to see the range of a possible limit you may be approved for based on the initial criteria of the company**


Table 3


Total score (points)

Daily limit that the company will initially consider (THB)**

0 - 0.50

Remain at the daily limit for level 1 account

0.51 - 1.25

1,250,000 - 2,500,000

1.26 - 2.50

2,500,000 - 5,000,000

2.51 - 4.00

3,750,000 - 7,500,000

4.01 - 6.00

5,000,000 - 10,000,000

6.01 - 8.00

7,500,000 - 15,000,000

8.01 - 11.00

10,000,000 - 20,000,000

11.01 - 14.00

15,000,000 - 30,000,000

> 14

25,000,000 - 50,000,000


Example

Mr. A earns 4 points from step 1, and 0.5 points from step 2; Mr. A's total score is 4.5 points.

Therefore, the possible daily limit range that Mr. A may receive is 5,000,000 - 10,000,000 THB.

 

** Remark: The aforementioned calculation is only the initial criteria. The company will carefully and appropriately consider other factors based on facts and the verification result of each customer. The company reserves the right to adjust or change the initial criteria based on our consideration without prior notice.

 

How to apply for a level 2 account

There are 2 ways you can submit your application for account level 2 verification: through the Bitkub website and through the Bitkub application.

Option 1: Applying through the Bitkub website

1. Log in to your account on Bitkub.com.

2. Select "Settings".


1__7_.jpg

 

3. In the "Level" section, click "Increase Limit".

  • Please note: Level 3 is an additional option to increase the daily limit for customers who have successfully completed KYC level 2 verification only.


Screen Shot 2565-11-23 at 18.15.25.png


4. Click "Yes, I'd like to increase my limit".


Screen Shot 2565-11-23 at 18.16.16.png

 

5. Click "Continue".


Screen Shot 2565-11-23 at 18.19.18.png

 

6. Upload the required documents: proof of address and proof of financial status.

  • Once you complete uploading, click "Next" and then "Submit", until you see the message "In process".

 

Screen_Shot_2019-09-13_at_03.02.10__1_.png

 

*Tips: You can upload multiple document files at the same time via the website by using a PC. The method is as follows:

image__8_.png

 

Option 2: Applying through the Bitkub application

1. Log in to your account on the Bitkub application > tap "Setting" from the menu bar at the bottom of the screen.


1__1_.png

 

2. Select "Change of Credit Limit" to proceed to the next step.


Eng1.jpg

 

3. Click "Continue".


Eng2.jpg

4. Upload the required documents.

  • The system supports files in jpg, jpeg, png, or pdf formats only and the size of a file must not exceed 10 MB.

   

   3.png 4.png 5.png

 

5. Indicate the password for opening the file (if any), and click "Submit".

 

Once your documents are submitted to our system, you will see a message "In process". Please wait for the update/result from us via email which will be sent to you within 30 days after receiving complete documentation and within 60 days after receiving complete documentation for customers with additional conditions. However, in case of a high volume of applications, the process may take longer than usual, but we will do our best to complete your application as soon as possible.



If your account verification for level 2 is successful, your account will be unlocked for the following limits.

  • Coin deposit: No limit
  • THB deposit: 1,250,000 - 50,000,000 THB/day
  • THB withdrawal: 1,250,000 - 50,000,000 THB/day
  • Coin withdrawal: 1,250,000 - 50,000,000 THB/day

Remarks:

  • The company reserves the right to change the preliminary daily limit consideration criteria appropriately without prior notice. However, the preliminary daily limit consideration criteria are only an initial assessment. Additional factors, including the facts and results from the account verification, will be taken into account when evaluating your level 2 application.
  • The number of applications may affect the service processing time. Our team will make sure to complete the process as soon as possible.

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article