Why we ask for KYC
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KYC (Know Your Customer) is identity verification. Cheaply requires it before releasing money out of the platform: withdrawals, seller payouts, and certain high-value buyer commitments.
Why we require it
- Protects your money. Verified accounts cannot be hijacked and drained.
- Faster support. When something goes wrong, we know who we are talking to.
- Anti-fraud. It is harder for bad actors to operate when they have to attach a real identity.
- Unlocks higher limits. Larger withdrawals, larger seller payouts, larger buyer commitments.
When do I have to do it?
- Browsing and small joins: no KYC needed.
- Posting deals: you can post before KYC, but payouts wait until verified.
- Withdrawing wallet balance: KYC must be verified.
- Business / CAC: required if your account is a business and you want to withdraw to a business bank account.
How long does it take?
Most submissions are reviewed within 1-2 business days. You will get an inbox message either way.