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Frequently Asked Questions (FAQ) About Coinhako Verifications or KYC, 30 June 2020

KYC verifications are now automated and only takes a few minutes on Coinhako.

Frequently Asked Questions (FAQ) About Coinhako Verifications or KYC, 30 June 2020

How long is my verification going to take at Coinhako?

As of 6 May 2020, 24 hour account verifications – aka Know-Your-Customers (KYC) – on Coinhako became a thing of the past!  Updates were made over the last few months to automate identity verifications at Coinhako and it should now only take a few minutes.

If your verification is taking longer than stated, kindly contact our support team for assistance or try some of the answers provided in this article.

***This automated verification process is only for KYC, and it is not to be confused with 2FA reset requests. More about this below👇

Why the need to declare your identity to a cryptocurrency platform?

The latest regulations in Singapore require that account verification (or KYC) requirements are met, before we can provide our services for our users.

We’ve made the update on the basis of making it as convenient as possible for our users, and it only takes a few minutes to complete.

What happens if i do not complete the account verification?

Not to worry! All you will have to do is complete the account verification, whenever you wish to access our cryptocurrency trading and wallet services.

Full service access will be resumed on your account, once your verification has been approved; This should only take a few minutes!

I have failed the verification multiple times. What can I do?

Have you checked that your submissions tally with our requirements?

You can also try these additional tips!

  1. For easier verification, we highly recommend that you complete the verification process via the Coinhako mobile app.
  2. When completing Jumio

On the Coinhako app (Android or IOS)

i) Put your ID card on a blank surface or on a white A4 paper.
ii) Ensure that you are in a well-lit area or use the flashlight on your mobile, when scanning your ID.
iii) Make sure that your full ID card is placed within the frame that  is displayed on the screen.
iv) After aligning your ID via the scanner, please keep still at least 3 seconds so that your ID can be uploaded successfully.

On the Coinhako Web

i) Ensure that you are in a well-lit area.
ii) Hold your ID near to the camera on your device.
iii) Ensure that your ID document is fully shown in the camera.
iv) Instructions will be displayed on the screen to guide you, when you move your ID closer to the camera.

I’ve completed my 2FA verification. Why do I need to verify again?

The selfie submission to request a 2FA reset is an entirely different process from the account verification.

As 2FA is an important security feature for all Coinhako users, the selfie submission provides an easy but secure way to confirm the identity of the person requesting the reset.

Account verifications, on the other hand, are a requirement to identify the owner of the accounts, aka Know-Your Customer (KYC) – a mandatory regulatory requirement for cryptocurrency and financial services businesses in Singapore. To align with the latest regulations in Singapore, we have requested our users to update their account information on 6 May 2020.

How am I supposed to verify my account when I can’t even authenticate my 2FA?

If you have not been able to access your account because of 2FA – whether you are unable to authenticate or have not completed our reset requirements –  kindly follow the steps on our 2FA reset guide to set up a new 2FA token for your account.

2FA resets are NOT to be confused with our account verification (or KYC). They are an entirely separate process.

Upon access to your account after 2FA authentication, you will still be required to complete our account verification (or KYC), if you have not done so after 6 May 2020.

Why is my 2FA still not working after my reset was approved?

Please note that the ‘Selfie’ submission for a 2FA reset, only disables the 2FA for you.

To complete the reset, you will have to enable the new 2FA token on your new or current device through a few simple steps.

Upon access to your account after 2FA authentication, you will still be required to complete our account verification (or KYC), if you have not done so after 6 May 2020.

Is my identity protected on Coinhako? Are my documents safe?

Yes, identity related documents are only collected for the purpose of account verifications and/or compliance with regulations.

We ensure that your information is securely stored on our platform and for more information on how we use user data, you can view our Privacy Policy and Terms of Use.

I’ve tried everything suggested, but still can’t access my account. What can I do?

If you have found yourself still unable to complete our identity verification after all these, kindly contact our support team for assistance.

As user traffic might fluctuate throughout the day, kindly give our team some time to get back to you during periods with higher ticket volume.

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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.