How to KYC on SkinPort in 2023: Verify Your Account Now

Skinport KYC

If you want to trade on a regular basis at SkinPort, be it as a seller or as a buyer, you’ll need to verify your account. This guide will show you how to KYC on SkinPort in only 5 steps, as well as bring you information about other key aspects of this verification process.

We will also let you know about the 4 tiers of KYC verification at SkinPort, so you can be ready beforehand to complete the verification process as soon as possible.

How to KYC on SkinPort in 5 Steps

Here is how you need to complete the KYC procedure to verify your account on SkinPort:

  • Log into your SkinPort account
  • Fill out the KYC form
  • Upload the required documents (ID, bank statement, address proof, bio facial recognition, etc)
  • Send the KYC application
  • Wait for answer and approval

Since there are 3 tiers that require you to upload different documents to collect and verify your personal and financial information, you only need to follow the same steps and wait for the platform to confirm that you can use the platform for buying and selling, as well as withdrawing funds.

You cannot perform KYC beforehand, because you need to reach any of the thresholds first and then the platform will allow you to complete the verification process.  

Here you have a list of the documents they will usually require from you when verifying your account:

  • ID
  • Address proof
  • Bank statement
  • Bio facial recognition
  • Payment method verification
  • Source of funds

You don’t have to worry about sourcing these documents until you reach a threshold, but if you’re going to trade on a regular basis at Skinport, then it will pay off to have everything ready beforehand, so you can complete the KYC verification as soon as possible.

Why Is KYC Necessary on SkinPort?

As stated by SkinPort, KYC (Know Your Customer) procedures are necessary and mandatory because they need to verify your personal and financial data to make sure that you meet the legal requirements to use their platform. Because skins and in-game items are worth real money, they need to prevent their users from engaging in money laundering and other financial offenses.

Since SkinPort is located in Stuttgart, Germany, they need to comply with German and European Law, which makes it mandatory for all users to complete the corresponding KYC procedures.

Because SkinPort has to comply with the high standards of European law, it also benefits you as a user because you’ll be selling and buying skins in a platform that prevents and combats money laundering. Furthermore, as a part of their actions to comply with European regulations, they keep the money you earn from selling skins in a separate account under your name, to which Skinport doesn’t have access.

How Does KYC Work?

The KYC procedures are handled by Adyen, a payments company with large experience in KYC procedures, especially for companies in the skins and in-game items trading industry. Once the KYC requirement is triggered, SkinPort will let you know what documents you need to upload, and Adyen will take care of reviewing them.

Once Adyen has reviewed your documents and proofs, they will let you know the status of your KYC verification in up to 24 hours. After that, you can start using your account for selling and buying skins again.

It’s also important to mention that you need to complete the required KYC procedures to withdraw money from your account to your bank account. 

Is KYC Necessary for Selling Skins?

KYC Selling Skins

Yes, you have to undergo the KYC procedures to verify your account to keep selling skins at SkinPort if you’ve sold more than $1,000  worth of skins. You can also trigger this requirement if you’ve received skins for $500 or more.

By completing the KYC procedures, you’ll let SkinPort know that you meet all the legal requirements to use their platform. This will also bring them more information about the source of your skins and in-game items, to prevent financial offenses such as money laundering.

The Tiers of KYC Verification for Seller Accounts on SkinPort

Depending on your trade volume, you’ll have to complete different tiers of KYC verification. Here you have a full breakdown on all the levels:

Tiers of KYC Requirement Sales Volume
Tier 0 Quick sign-up and no further information requirement $0 USD
Tier 1 You need to complete the KYC procedure to collect your personal data $0 to $1,000 USD
Tier 2 You need to complete the KYC procedure to verify your personal data $1,000 to $5,000 USD
Tier 3 You need to complete the KYC procedure to verify your bank account $5,000+ USD

SkinPort will automatically let you know when it’s due time to supply them with the necessary information to complete the corresponding KYC procedure.

Is KYC Necessary for Buying Skins?

skinport KYC buying skins

Yes, the threshold for buyers that will trigger a KYC requirement is higher than for sellers, but if you’re buying skin for over $1,000 to $5,000 per month, then SkinPort will require you to complete their KYC procedures.

Once you fully verify your account as a buyer, you’ll be able to keep buying CS:GO skins for high volumes without restrictions. You might even unlock preferential rates and exclusive promotions, so it pays off to verify your account at SkinPort. 

Keep in mind that the threshold is rather random, and hence some users will have to complete it when buying for more than $5,000, whereas others can get away with more money such as $10,000 per month, whereas others will trigger it at just $1,000. The KYC system, powered by Adyen, will require it based on the unique status and settings of your account.

Can Underage Users Complete the KYC Process on SkinPort?

No, even though SkinPort announced in January 2022 that they’d introduce a solution to onboard underage sellers and buyers below 18 years old, this never came to fruition. As stated by the Terms and Conditions of SkinPort, you must be at least 18 years old to join the platform, complete the KYC procedures and be able to buy and sell skins.

This issue has been frequently discussed on Reddit, and SkinPort has mentioned that underage owners of skins and in-game items need to ask their parents to create a SkinPort account and complete the KYC verification to cash out funds from the platform.

Is SkinPort Supported in All Countries?

No, because they have to comply with the strict standards and regulations of German and European law, SkinPort doesn’t offer its service to all countries, and hence not all users can or aren’t required to complete the corresponding KYC procedures for sellers. The platform will automatically let you know if you can use their services or not.

What Happens If You Don’t KYC on SkinPort?

If SkinPort lets you know that you have reached a threshold and you don’t complete the required KYC procedure, then you won’t be able to use the platform for buying/selling skins and withdrawing funds. As long as you don’t reach a threshold, you can keep using the platform without completing any KYC verification. If you need more information on SkinPort you can read our full review here.