2.1.0. Profile Area
This is where you will see the details of your profile. Some exchanges call their profile area “Account,” “Identification,” or “Verification.”
Grading of Profile Status
Generally, the profile status of your crypto account determines the withdrawal limit. Centralised exchanges grade their profile status based on the verification of documentations as follows:
• Level One
This is the entry level, and no documentation is required, except your names, email address, and/or phone numbers.
At Level One, your withdrawal transaction is grossly limited, such as one-half Bitcoin per 24 hours.
• Level Two
This requires you to submit your ID and other forms of verifications such as your photo.
Once these documents have been verified and you have been upgraded to Level Two, your withdrawal limit will also be upgraded to, for example, two Bitcoins per 24 hours.
• Level Three
This requires submission of your physical address and other forms of KYC (Know Your Customer) documentations for verification.
Once they have been verified and your account has been upgraded to Level Three, the withdrawal limit is also upgraded, usually up to 200 Bitcoins or limitless per 24 hours.