Short answer: 1 day for me, actually less than a day.
I think it’s fine to submit verification to cryptsy because they’ve been around for a great while. Similar to Coinbase and Bitstamp. The verification process required 2 photos identification and a utilities bill under your name, phone bill should work as well. Once I submitted all that information, I got verified in less than 24 hours.
The verification required your social security # and it is integrated with a third party API appears to be identity check. Based on your social security #, it will ask random questions that you should know, don’t worry if you got a few wrong, but if it’s really you, then you should be able to answer some of the questions. If you don’t know the answer to any of the questions then it will think you’re a fraud. The questions asked like do you know this and that person, have you ever live in this city, this address street #, and so on, simple one. I think it’s a very effective verification system.
So you’re giving out photo ID eh? are you scare and afraid? yeah you should be, but guess what, those ID don’t last long, there’s expiration date, sure it can be stolen and use by hackers, but it could happen to anyone, anywhere, no matter how careful you are. You just have to be vigilant and check your credit score once in a while, that why credit score exist and you have it correct up to six months fraud or even longer.