Verify as Individual

Individual requirements

Each individual client is required to complete our Know-Your-Customer (“KYC”) process before they can make any deposits and start trading. The verification page can be found by clicking “Verification” in the menu while logged into Deribit.

The goal of our KYC process is to verify the identity of the client, and to understand the intended purpose and nature of the business relationship.

Below, you will find a list of the information we require for the KYC process, as well as a list of the fields in the Financial Profile section.

Additional information or documentation can be requested in some cases, and this is at the discretion of the Deribit compliance team.

Deribit reserves the right to immediately close any accounts and liquidate any open positions if it is determined that a client has provided false information about their identity or place of residence.

KYC Individuals
First name plus middle name(s)	Please enter your legal First and Middle names, matching your identification document. Do not use nicknames or contracted/short versions of your name.
Last name	Please enter your legal Last / Family name. This should match your identification document.
Country of birth	This should match the country of birth listed on the identification document, where applicable.
Nationality	Your current nationality should be entered. This may be different from your country of birth if you are a national of another sovereign state than the country of your birth.
Date of birth	The date of birth should match the information on the identification document.
Residential address: Street name House/apartment/building number Postal code City	In order to verify your residential address, we require a recent (not more than 3 months old) utility bill, bank statement, tax bill or document from the authorities that contains your name, residential address details and the issue date. We do not accept mobile phone bills, waybills or screenshots of banking apps. Your name and address should be clearly visible in the document.
Country of residence	The country where you currently reside, as provided with the proof of residential address. This is automatically matched to the country given on sign up. If this is no longer correct, please contact [e-mail].

Financial profile
Purpose of the account	Please select from: Investing, Trading, Hedging or Long-term holding. Whichever is most appropriate.
Source of funds	This field contains many possible answers, and multiple sources of funds can be selected to describe the source of funds.
Estimated net worth (wealth)	Please select the range that applies to your estimated net worth (fair value of all held assets). Whichever is most appropriate.
Source of wealth	This field contains many possible answers, and multiple sources of funds can be selected to describe the source of wealth.
Estimated annual income	Please select the range that applies to your estimated annual compensation from all sources, converted to United States Dollars.
Cash holdings maintained	If the value of your current liquid asset holdings (stocks, virtual assets, cash or other liquid assets) when converted to a USD value is above 135,000 USD, select Yes. Otherwise, select No.
Expected number of trades in the next 12 months	Your best estimate for the quantity of filled trades that you expect to make on Deribit in the next 12 months.
Expected amount of deposits in the next 12 months	Your estimated deposits in liquid assets (such as Virtual assets, Cryptocurrency or Cash) in the next 12 months.
Employment status	Select whichever of the options best describes your employment status.
Name and address of employer if applicable	The name of your employer's business and full mailing address, including postal code and country.
Job industry	Select whichever of the available options is the closest match for the industry of your current job.

To determine whether we can onboard you onto our regulated exchange in Dubai, or whether you remain a client of Deribit Panama, we need to conduct an Investor Classification. A brief overview is given in the table below, but more information on investor classifications can be found in the Investor Classification section.

Investor classification
Qualified Investor - Individual	To be classified as a Qualified Investor, an individual has to meet both of the following criteria: 1) Earn an annual income of ≥ USD 191,000 (i.e. 700,000 United Arab Emirates Dirham); OR Maintain net assets of USD 1,000,000 (i.e. 3,750,000 United Arab Emirates Dirham). Net assets may include:  Fiat currency (cash) Financial instruments (stocks, bonds, derivatives, notes etc.) Virtual assets, of which 100% of the value of non-algorithmic stablecoins (e.g., USDT, USDC) may be counted, while 50% of the value of all other virtual assets may be counted  Tangible real estate excluding primary residence All assets must be supported by documentary proof of funds (e.g. bank statements, broker account statements, crypto platform statements, real estate valuation reports). AND 2) Possess relevant knowledge of trading derivative contracts. This can be demonstrated through documentation showing either product experience (i.e. having conducted a minimum of 12 transactions in derivative contracts in the past 12 months)or professional experience (i.e. having worked for at least 12 months in the financial sector for an authorised firm or a professional services firm dealing with leveraged instruments).	Do you have an annual income of > USD 191,000 (>700,000 United Arab Emirates Dirham)? OR Do you maintain net assets of > USD 1,000,000 (> 3,750,000 United Arab Emirates Dirham)? If so, you are being asked to provide a recent document that reflects this (e.g. bank statement, overview stock portfolio, account statement trading platform). If the answer to any of the previous questions is yes, then we ask you to confirm whether you have any experience in trading leveraged instruments (i.e. derivatives). You can choose one of the following three options: I have conducted a minimum of 12 transactions in derivative contracts during the last 12 months I have worked for at least 12 months in the financial sector for an authorized firm or a professional services firm in relation to leveraged instruments. I have no relevant knowledge regarding leveraged instruments (options and futures).

If you meet criterion 1 and 2a or 2b, then you can be classified as a Qualified Investor.

ID verification (camera required)

For this step, you will need a camera to perform the liveness check (face recognition). Please take the following into account:

• Use a valid (not expired) ID without hole punches or other modifications.

• Do not obfuscate any information on the ID.

• Try using your mobile device. You can use the mobile app to complete the ID verification step using your phone's camera.

• Ensure your document is in a well-lit area without glare. Natural sunlight is best.

• Take a photo of the entire document and avoid cutting off any corners or sides.

The verification of (identity) documents and the liveness check is processed by Jumio.

Individual step-by-step verification

Signing up and Creating an account

To sign up as an Individual client on Deribit, create an account using your desired email. 

The email must be accessible due to the email’s usage for account email confirmation on signup, as well as various functions such as withdrawal confirmation and support accessibility.

You can complete the verification process in the 'Verification' menu.

This can be found via https://www.deribit.com/account/BTC/verification or the person icon on the top right menu and then clicking Verification.

Step 1 - Personal Information

 Please locate two separate documents, one for Identification (passport ideally) and another for proof of residence. These documents cannot be older than 10 years and must be currently valid per document expiration date. The details on the documents must match what is entered in the form.

Step-by-step

1. This section will cover the entry of personal identifying information. 

2. First name and middle name(s) - Please enter your legal First and Middle names, matching your identification. Do not use nicknames or contracted/short versions of your name.

3. Last/family name - Please enter your legal Last / Family name. As above, please match your identification to prevent delays in processing.

4. Country of birth - Clicking will provide a drop down menu. Please match the country with the country given on your Identity document.

5. Nationality - This may be different from your country of birth if you are a national of another sovereign state than the country of your birth. Please enter your current nationality.

6. Date of birth - Please click the calendar icon on the right then navigate to your date of birth.

7. Your residence street name (only).

8. House or apartment number (only).

9. Postal code (only).

10. Town or city (only).

11. Your country of residence. This is automatically matched to the country given on sign up. If this is no longer correct, please contact [e-mail].

12. Save - When all the information has been checked and filled out to the best of your ability, press here to proceed.

Once all information is correctly submitted, and Save is pressed - a green prompt will appear in the corner

Step 2 - Financial Profile

1. This section will cover the entry of required financial information. This is used to define your investor classification.

2. Financial profile - Some of these answers will just be estimates, but it is best to answer these truthfully and to the best of your ability so that the information in your account is as accurate as possible.

3. Save - When all the information has been entered and checked, press here to proceed.

   Based on your responses in Financial Profile, an additional step may appear: “Investor Classification”

1. Investor Classification - Conditional to the answers inside the financial profile section, this screen will ask for clarifying documents and an indication of existing trading experience.

2. Document upload # 1 - Please read the instructions carefully and supply a document that meets the given specification. The specified document may be different from the given example screenshot in this guide.

3. Experience questionnaire - Please select which statement best fits your experience level with trading leveraged derivative instruments.

4. Document upload # 2 - Please read the instructions carefully and supply a document that meets the given specification. The specified document may be different from the given example screenshot in this guide.

5. Save - When all the information has been entered, press here to proceed.

Again, based on your responses in the financial profile, an additional step may appear called “Suitability”. This section involves some yes/no questions to make sure you understand certain risks.

1. Suitability - These questions indicate whether both Deribit, and the leveraged derivative instruments available on Deribit, are suitable for you.

2. Please answer all questions accurately. Each box uses a drop-down menu to select a response.

3.  Save - When all the information has been entered, press here to proceed.

Step 3 - ID Verification

1. ID verification - This stage will require the user to upload a copy of their ID to verify their identity, and this ID must match the details given in Step 1 and Step 2.

2. Passport - If you do have a passport, please select yes. This is the best document to use to verify your identity and will improve processing times.

3. This field will appear when "Yes" is selected for passport. This step can be completed with your computer, tablet or mobile phone (or a combination). On the Jumio panel, a QR code is available to be scanned which will allow continuing the process on another device.

   A photograph of your passport/ID (with both sides of the main page) will be required. In the second step, Jumio will perform a liveness test which involves the passport being held by the correct individual.

   Once the details have been submitted, the Jumio tab will show: The verification of your ID document is in progress. Please wait a few minutes. You may close this tab. The status of your ID verification will be updated automatically in the menu Verification. You may then close this tab.

   

   The current status of the verification will be shown.

Step 4 - Proof of Residence

1. Proof of residence - This final step involves uploading a proof residence. Please note that this is separate from your ID and your ID cannot be used for this step. 

2. Possible documents that can be used are shown here. Please select the appropriate document you can provide which matches your ID. This will open a Jumio window where you can upload the document. Please follow the given instructions and notes at the top of the screen.

3. Once uploaded, “The document has been uploaded. We will verify the proof of residence within two business days. You may close this tab.” will be shown.

   

   Please allow our Compliance team time to review your document

All submitted

Once uploaded, please allow 2 business days for the documents to be reviewed. While the KYC is being reviewed, the above will be shown. 

This will change to the following once verified by our Compliance team:

Once successful, the Verification panel will state your status, which Deribit platform you are onboarded to, and your investor classification. To update this information in the future, click on Steps 1-3 while on the Verification panel.

Individual verification troubleshooting

Most clients get through the verification process without a problem, but some clients may experience issues. This guide will cover the most common issues faced, and how they can be overcome. In general though, if you are having serious issues completing verification, it is best to email [e-mail] directly with the details.

Step 1 - Personal Information

1.  Verification cannot be completed - Please ensure that you are logged into / have selected the main account. If the error shown is ‘Not available on subaccounts’, please select the main account and continue.

2. “I cannot change my Country of residence” - Please contact [e-mail] to change your country of residence. This option was selected on account creation and so it is auto populated on the form.

3. [The information is not saved] - If the page is not correctly saving and returns as a blank page, please ensure that all fields are correctly filled. This will correctly enable the ‘Save’ button.

Step 2 - Financial Profile

1. “Source of funds document not processed” - Please contact [e-mail], our compliance team aims to resolve tickets within 2 working days.

2. “Unhandled Thrown error” - Please contact Deribit support if this occurs via [e-mail], the form at the bottom of the page, or the chat function on the Deribit website.

3. “Submission failed, try again later” or “Something went wrong - Please try again later or contact support.” - Please try to complete the form on another browser, on a private window. If this fails, please try a difference device. Should these steps fail, Please contact [e-mail] and explain what occurred in a detailed ticket.

Step 3 - ID verification

1. “Unknown error” - There can be many causes for this, the most common cause is the uploading of an edited document. Please do not upload an aggregated or edited document as this may be detected as a manufactured/false ID. If this is not the case, unfortunately without additional information; we suggest trying verification on another browser. Failing that, another device on a private/incognito window in case a browser addon is interfering or preventing a module from loading.

2. [Being unable to upload the other side of your ID] - If not prompted to upload the reverse of the ID, the most common cause is that you have elected above that you have a passport. If so, please use the passport for ID verification. This is better to use than a national ID card or drivers licence, which should only be used if you do not have a passport.

3. [Device unable to access the camera] - Some clients have had success with checking the browser settings to ensure the webcam can be used. Failing this, it may be most expeditious to try completing verification via your mobile device, via the mobile browser or the Deribit app.

4. “The ID verification is in progress in another browser tab” - If this appears but does not open another browser tab, please ensure that the permission to allow opening a new tab is enabled. This is commonly at the top of the browser window.

Step 4 - Proof of Residence

1. Something is wrong with your verification session, if you already finished verification please wait until processing is done, otherwise try again. Error code: 310 -

   Error 310 is specific to the document upload session expiring.

   Alternatively if the document was uploaded immediately but failed, this may be related to your browser addons and/or browser privacy settings. You can try another browser such as Google Chrome or using your mobile device's browser to proceed. If this also fail, please reach out to [e-mail] for expert assistance. 

2. Document is rejected by Jumio - Jumio can only process limited types of documents and they all have to be machine-readable. Please try a different document type or upload a higher resolution scan. If this fails, please contact [e-mail] for manual verification of the documents.

3. Start Verification button is greyed out - In the cell to the left, ‘Document type’ select the type of document you would like to upload. If this remains greyed out after a selection has been made, please try again from a different browser and/or an incognito/private window. If this also fail, please reach out to [e-mail] for expert assistance. 

Other issues

1. "I have not received a response from Compliance for several days" - Please ensure you click ‘Submit your application’ on the final step. Until this is pressed, Deribit cannot proceed with processing your documents. Please allow up to 3 working days for your submitted verification documents and forms to be approved by our Compliance team. If you have not been approved, please check your Deribit account's email for contact from the team. They may have already reached out seeking additional information to process your application.