Cryptocurrencies have become a popular investment tool lately, and there are many exchanges on the cryptocurrency market that allow buying, selling, and storing cryptocurrencies. One of these exchanges is Bybit, which holds a leading position in the world of cryptocurrency trading.
Recently, Bybit has introduced mandatory verification for all its users. This decision was made to increase the security of users and the exchange as a whole. Previously, users could trade on Bybit without verification, but now it has become impossible.
Verification on Bybit goes through several stages. First, the user must confirm their phone number, then upload their identity document and a selfie. After that, the exchange administration verifies and confirms the user’s data.
This decision will undoubtedly increase the security of users and protect them from fraud. However, some users may feel uncomfortable as the verification process requires sharing personal information.
In addition, mandatory verification may cause problems for users from countries where cryptocurrencies are prohibited or restricted. In these cases, users may face difficulties in passing the verification process and using the exchange.
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