Before account verification, your account has a "pending" status. A "pending" account can trade all trading pairs as well as deposit and withdraw crypto currencies. To be able to deposit and withdraw fiat currency, you will need to upgrade your account to the "approved" status, which requires submitting personal documents for KYC/AML purposes.
An individual QUOINEX account needs the following documents:
- ID document: valid national ID or international passport. If you are not living in the country of your nationality, please provide a document that can prove your legal residency.
- Proof of address: an utility bill that is addressed to your name. It must be recent (no older than 3 months) and reflects your current address.
- Funding bank account statement: a statement of the bank account you will use to fund your Quoinex account. This statement needs to be no older than 3 months and to contain bank name, bank branch, account name, account number, and date of issue. If your bank does not issue paper statements, e-statements or internet banking screenshots will also work as long as they contain all of the details above.
- India residing users are required to provide PAN card as ID document.
- If your funding bank account has a joint owner, please also provide their ID document.
How to upload documents to Quoinex dashboard:
- Go to Settings > Profile.
- Upload documents in the three available fields. Only PDF and image files are accepted.
- Click Submit Documents.
Once all three fields are satisfied, your account status will change from "pending" to "documents_submitted." Compliance team will then handle the account verification and will provide result in 1-2 working days.
Once your account is "approved," you will be able to make fiat transactions in and out of Quoinex. If your account is "declined," you will need to resubmit documents as per further instructions provided via email to restart the account verification. A "declined" account is the same as a "pending" one, meaning you can still transact crypto currencies like usual.