How long does Poloniex verification take?

How long does Poloniex verification take?

Robert McDougall 

August 30, 2022

Cryptocurrency

There are countless cryptocurrency exchanges available on the internet that offer a variety of features and functions and contribute to what we would call the building of the blockchain industry. But if you are looking for a one-stop cryptocurrency exchange that would allow you to trade crypto assets, buy them, sell them, earn through them, and explore NFTs, then Poloniex (read review) would be one of the best choices here, with great features. Poloniex has been in the industry for almost a decade now, as the platform was launched all the way back in 2014. The aim that the exchange focuses on is to create the most active crypto marketplace offering deep liquidity and trading opportunities and connecting trading enthusiasts, developers, and investors.

If you have finally decided to join Poloniex, you will first have to verify a few things in order to proceed with your trading and investing activities. Well, you might be wondering how long Poloniex verification takes, and will you have to wait for days or weeks just to get started on the exchange? To answer that, let’s take a brief look into some situations and see how long it actually takes to get yourself verified on Poloniex.

What are the different levels of verifications on Poloniex?

Unlike other crypto exchanges that have several levels of verifications and require users to go through all of them to unlock the potential of the platform fully, Poloniex only has two verification levels that are actually quite easy to go through.

The first level of Poloniex verification requires the users to verify their email addresses, which they automatically do when creating their account on the exchange. As for the second level of verification, Poloniex asks for some personal information and requires users to submit documents in order to pass.

How to complete verification on Poloniex?

In order to complete the first verification level at Poloniex, you will have to verify your email address by following the link sent by the exchange to your inbox. By clicking on the link given, your email will be verified, and you will be able to enjoy all the benefits that verification level 1 offers.

As for the second level of verification, you will first have to fill out a form containing your personal information. You need to provide your full name, date of birth, country of residence, address, city, postal code, and a few other things. After filling out the form, you will be redirected to a third-party service designed to verify the identities of users. That is where you will have to take a photo of your identity document, which varies from country to country, in order to complete the process. Note that you must have a webcam if you are planning to complete the verification level 2 on your computer, as the platform does not allow uploading of files. If you are using a mobile device, you can simply use the phone’s camera to capture the photo of the document.

How long does it take to verify both levels on Poloniex?

If we talk about Poloniex verification level 1, where you only have to verify your email address, it only takes a minute. This is a simple process that involves clicking on a link, and you will be done with level 1 verification. 

The second level of verification takes a little more time to verify as you have to fill out the form, which can take anywhere between 2 to 5 minutes. After that, you will have to verify your details by capturing a photo of your identity document. Poloniex claims that the identity verification process is usually done within a few minutes, if all the data is correct and there is no fraudulent or doctored documents. If any complications arises, you will have to wait a few hours or even days considering the complexity of the issue. However, this isn't something you need to worry about if you are providing legitimate info to Poloniex.

In total, it will only take about 15-20 minutes to complete both verification levels on Poloniex, and then you can access all of the features without any problems.

What are the benefits of verification on Poloniex?

Both of the verification levels come with their own benefits and features that you can enjoy on the platform. Level 1 verification provides users access to deposits, withdrawals, spot trading, direct crypto purchasing, lending, futures trading, and some other features, but with limited access. When it comes to level 2 verification, Poloniex offers access to every single feature on the platform, including margin trading, increased withdrawals and deposit limits, launch base, and a few other features that can be important to traders and investors.

Conclusion

If you have already registered on Poloniex or are planning to do so and wondering if you should go through the hassle of getting yourself verified, trust that it will be worthwhile. Verifying your identity opens the doors to limitless opportunities offered by the exchange and have an uninterrupted experience while you trade or invest. What’s a couple of minutes out of your whole day verifying your Poloniex account?

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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