SpectroCoin verification process takes less than 7 minutes and involves agreement to terms, facial scan, document submission, and answering personal and financial questions. The KYC procedure may take up to 10 days for approval.
Although the waiting period can take several days, once approved, you gain full access to all features such as SpectroCoin deposit and withdrawal, crypto-backed loans, and more than 50 cryptocurrencies to buy and sell.
Sections of the SpectroCoin KYC Process
To verify your profile on the SpectroCoin exchange, you should go through the steps listed below:
- Go to the “Profile” section to start the process;
- Select additional services and agreement to the terms;
- Continue the KYC process on the SpectroCoin app;
- Select your country;
- Submit your documents and take a selfie;
- Answer the personal and financial questions.
Fore a smoother KYC in this cryptocurrency exchange, check the table below and prepare are the necessary information.
Verification Requirement | Yes/No |
Full Name | Yes |
Country of Residence | Yes |
Date of Birth Entry | No |
Phone Number Entry | No |
Residential Address Details | Yes |
Phone Number Verification | No |
Document Issuing Country | Yes |
ID Card (for POI) | Yes |
Driver’s License (for POI) | Yes |
Passport (for POI) | Yes |
Residence Permit (for POI or POA) | No |
Utility Bill (for POA) | No |
Bank Statement (for POA) | No |
2-Factor Authentication | No |
Biometric Face Scan | Yes |
Financial Status Questionnaire | Yes |
Trading Knowledge Questionnaire | Yes |
Restricted Countries | Yes |
#1 SpectroCoin Profile Section and Starting the Process
First, click your user name at the top of the SpectroCoin dashboard, and select “Profile”. On the next page, switch to the “Verification” tab and click “Account - Not verified”.
#2 SpectroCoin Service Selection and Agreement
On this page, review and select any additional services you may need from the exchange, and then click “Verify”.
You will then be asked to agree to the terms and conditions of the verification process and provide your consent for the processing of your personal information for identity confirmation. Then click on the “Verify” button.
On the following page, you will also be required to give your consent for a facial scan by checking the box and clicking the “Next” button.
#3 Continue the Verification on SpectroCoin App
At this stage, you can decide whether you want to complete the authentication directly on the system or by using the displayed QR code to download the SpectroCoin mobile app.
If you choose the app option, download and install it, then log in using your email address and password.
After logging in, head to the main menu, enter the user authentication section, and select the account option. Then you agree to the biometric KYC consent again in this centralized cryptocurrency exchange.
#4 Country Selection in SpectroCoin
On the next page, specify the country that issued your identification documents and click the “Next” button.
#5 Document Submission and Selfie in SpectroCoin
The system will activate your device’s camera, allowing you to take a photo of your identification documents.
Once all is done, you will then be asked to take a selfie while holding those documents in your hand.
#6 Answering Personal and Financial Questions from SpectroCoin
After uploading both the document images and the selfie, you will move on to answering a series of questions.
In the first part, you must provide your personal details including your first name, last name, country of birth, and residential address.
In the next parts, you will answer questions about employment status, your source of funds, purpose of the account, and monthly turnover.
Then, you specify the countries you’re going to make transactions for/from, and click “Next”. And in the next stage determine if you are a politically exposed person, and click “Next”.
Finally, confirm you are the ultimate beneficial owner of the account and all the provided information is true.
SpectroCoin KYC Status and Approval Time
At the end of this process, all your details will be submitted successfully, and your account status will be displayed as Pending. You can then return to the Exchange page, where you will also see your verification status marked as Pending.
If the documents and photos you submitted are complete and accurate, your verification will eventually be approved. At this point, you will also have the option to verify your phone number within the same section.
One drawback of the exchange is that the review and verification process can be very slow. The final result may take up to 10 days to be completed. When we contacted support regarding this issue, they confirmed that waiting is necessary.
SpectroCoin Verification in Comparison to Those of Other Exchanges
The table below compares the necessary documents for user authentication in SpectroCoin and 3 Other exchanges.
Verification Requirement | SpectroCoin Exchange | |||
Full Name | Yes | Yes | Yes | Yes |
Country of Residence | Yes | Yes | Yes | No |
Date of Birth Entry | No | Yes | No | Yes |
Phone Number Entry | No | No | No | No |
Residential Address Details | Yes | Yes | No | Yes |
Phone Number Verification | No | No | No | No |
Document Issuing Country | Yes | No | Yes | No |
ID Card (for POI) | Yes | Yes | Yes | Yes |
Driver’s License (for POI) | Yes | Yes | Yes | Yes |
Passport (for POI) | Yes | Yes | Yes | Yes |
Residence Permit (for POI or POA) | No | No | No | No |
Utility Bill (for POA) | No | No | No | Yes |
Bank Statement (for POA) | No | No | No | Yes |
2-Factor Authentication | No | No | No | No |
Biometric Face Scan | Yes | Yes | No | Yes |
Financial Status Questionnaire | Yes | No | No | No |
Trading Knowledge Questionnaire | Yes | No | No | No |
Restricted Countries | Yes | Yes | Yes | Yes |
Conclusion and Final Words
SpectroCoin verification is now completed in 6 steps. If the approval took more than 10 days, you can contact the support team as they can inform you about the process.
To avoid delays, make sure all the uploaded photos are visible and are not expired. When your account is verified, you can check out SpectroCoin Tether TRC20 withdrawal from the recent articles on the SpectroCoin tutorials page to easily cash out your profits.
