Why Bhimax verifies identity
Bhimax adheres to rigorous KYC (Know Your Customer) and AML (Anti-Money Laundering) policies to maintain a safe ecosystem for all users. This commitment to compliance facilitates smoother banking relationships, ensuring that your deposits and withdrawals remain uninterrupted.
Verification also allows us to comply with legal regulations and to protect your account against fraudulent activity.
The verification steps
Log in to your account, go to Profile > Identification. Follow the on-screen instructions to upload your ID document and complete facial verification.
Verification levels and limits
Limits depend on your Verification Level (KYC). Level 1 users have lower daily limits, while Verified Plus users enjoy significantly higher caps suitable for institutional trading. If you plan to trade at size, completing the higher verification tier is the step that removes the ceiling.
How your data is protected
All user data is encrypted using industry-standard cryptographic algorithms. Sensitive information, such as passwords and private keys, is stored using advanced encryption techniques, with SSL/TLS encryption protecting data in transit.
Bhimax also enforces Two-Factor Authentication (2FA) for all user accounts. Users must enable 2FA using Google Authenticator or SMS-based authentication for an added layer of security.