What is KYC? What is KYC Verification?
Cryptocurrency Exchange
To trade in the
cryptocurrency market, completing the KYC identity verification process is mandatory. Implemented to ensure both user security and compliance with legal obligations, KYC verification is an indispensable step especially for licensed platforms operating in Türkiye. In this content, we discuss step by step what KYC means, why it matters, and how the general verification process works.
What Is KYC?
KYC (Know Your Customer) means “Know Your Customer.” It is a security-based legal requirement applied by all institutions that provide financial services—especially cryptocurrency exchanges—to verify the identity of their users.
KYC includes requesting documents from the user such as identity information and address verification. In this way, the exchange confirms that its users are real individuals and increases trading security on the platform. At the same time, under MASAK regulations in force in Türkiye, the KYC process is a legal requirement.
What Is KYC Verification?
KYC verification is the confirmation of the identity of the person registered on the exchange through official documents. In this process, documents such as an ID card, a selfie, and proof of residence are generally requested. The goal is not only to ensure security, but also to enable users to use the platform transparently and reliably.
Thanks to KYC, the creation of fake accounts in the system is prevented and an equal, secure trading environment is established among users. On cryptocurrency platforms operating in Türkiye, users who do not complete identity verification are not allowed to perform transactions such as buying and selling crypto.
How Is KYC Verification Done?
The KYC verification process is completed by officially confirming your identity after creating an account on a cryptocurrency exchange. This process is extremely important both for the platform’s security and for fulfilling legal requirements.
In general, the KYC process includes the following steps:
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The user is expected to enter their identity information completely. This information includes basic data such as first name, last name, and date of birth.
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Then, a valid and official identity document (Turkish ID card, passport, or driver’s license) is uploaded to the system.
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In addition to the identity document, the user may be asked to complete instant verification with a selfie or a facial recognition system.
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On some exchanges, address verification may also be requested with documents such as a proof of residence or a utility bill registered to the address.
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After all this information is entered into the system, the exchange checks the data and approves the application.
The verification time may vary depending on the platform’s infrastructure. While KYC can be completed instantly on some exchanges, on others a manual review may take a few hours. Ensuring that documents are correct, legible, and up to date helps complete this process quickly.
How to Complete CoinTR KYC Verification?
At CoinTR, identity verification is one of the security procedures that must be completed before starting to
buy and sell crypto. This process is necessary to protect both cryptocurrency users and the exchange. Users who want to complete crypto identity verification can create an account via the web or the mobile application depending on their device preference.
You can follow the steps below for the CoinTR identity verification process:
KYC Verification on the Mobile App
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Download the CoinTR app.
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If you have an account, log in; if not, you can sign up via the registration button.
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Go to the user center and click the “identity verification” section.
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Start KYC verification by uploading your ID.
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It will be sufficient to scan the front and back sides of your ID clearly.
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After uploading your ID, click the “Upload Selfie” section to complete verification.
After completing these two steps, you will have completed Level 1 verification.
Level 2 KYC Verification
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To complete Level 2 verification, it is sufficient to share the requested information. You can enter your proof of residence information by using the barcode example.
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Your verification will be completed within approximately 10 minutes.
You can now benefit from CoinTR campaigns and trade crypto securely.
Why Is Identity Verification (KYC) Important?
Identity verification (KYC) is not merely a formality, it is a legally required and mandatory process that forms the foundation of security on cryptocurrency exchanges. Exchanges operating in Türkiye are obliged to verify the identities of their users in accordance with the rules set by local regulatory authorities.
There are several key reasons for implementing KYC:
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Increases platform security: Prevents the creation of fake accounts and the use of multiple accounts.
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Prevents illegal transactions: With KYC-verified accounts, the circulation of criminal proceeds through the financial system is prevented.
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Protects user accounts: Verified users can be sure that only they can access their accounts.
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Ensures legal compliance: In line with the rules set by MASAK and other supervisory authorities, platforms are required to implement the identity verification process.
It is not possible to trade on an exchange without completing the identity verification process. Therefore, users should not skip this step; it is of great importance both for their own security and for the integrity of the system.
KYC verification is a critical step both to ensure user security and to make it possible to transact within a legal framework. At CoinTR, we place importance on offering a fast and reliable verification process while protecting our users’ information. To trade securely, don’t forget to complete your KYC process in full.
2026-02-04Legal Notice
The information, comments, and evaluations contained in this content do not constitute investment advice. This content is not intended to be prescriptive in any way and is intended to provide general information. It does not constitute investment advice. CoinTR cannot be held responsible for any transactions made based on this information or any losses that may arise.
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