The purpose of verifying your identity is to help prevent fraud and ensure that no one, except you, is able to use your payment information to make an exchange.
Based on your exchange preferences, you can choose between Tier 1 and Tier 2 identity verification. If you want to exchange amounts that total no more than $1,000 worth of cryptocurrencies per year, only Tier 1 identity verification is necessary. If you want to exchange more than that (up to $25,000 per day), or participate in our airdrop program, you will need to go through Tier 2 verification.
Tier 2 verification processing is largely automatic, with manual reviews processed by our support team agents. Once you are Tier 2 verified, you’ll be able to exchange up to $25,000 per day of bitcoin, ether, bitcoin cash, and Stellar (XLM) within the Wallet.