At CoinPayments, guaranteeing the safety and compliance of our platform is a prime precedence. We require all customers to finish Id Verification to realize this. This course of helps us meet regulatory necessities and protects our customers from potential fraud and monetary crimes.
To streamline the verification course of, we’ve partnered with main verification platforms, SumSub and RiskScreen (now KYC360), trusted by prime monetary establishments worldwide. These platforms absolutely adjust to GDPR and different information safety rules, guaranteeing your data is safe and personal.
We perceive that verification can generally be daunting, so we’ve designed a easy, tiered method that applies to all customers, whether or not you’re a person or a enterprise. Our verification course of is simple and user-friendly, permitting you to begin transacting rapidly whereas offering further verification as your exercise on the platform grows.
On this tutorial, we’ll information you thru the completely different verification tiers, explaining the necessities and advantages at every degree. We’ll additionally show methods to contact help for those who encounter any points.
Let’s get began.
Verification Tiers
For “Complete Transaction Quantity,” we depend funds, deposits, withdrawals, and transfers in the direction of the quantity limits. This consists of all transactions carried out on the person interface or via API exercise, whatever the cryptocurrency used, so long as it has a constructive Bitcoin trade fee (AnyCoin/BTC) and is supported for every transaction kind.
Please word that we might dynamically alter the verification necessities for every Stage or account kind primarily based on world AML/CTF and counterparty threat necessities (e.g., journey rule) and native compliance insurance policies (e.g., reporting and licensing). Because of this not all KYC sections will apply to each person, as the necessities might range relying on particular person circumstances and the ever-changing regulatory panorama.
Tier 1: Primary Verification
To begin utilizing the CoinPayments platform, all customers should full our Primary Verification course of, often known as Tier 1. This preliminary verification is designed to be fast and straightforward, permitting you to begin transacting with minimal problem.
By finishing this tier, you possibly can:
- Transact as much as $20,000 USD in lifetime quantity, together with deposits, withdrawals, and API exercise.
- Entry fundamental options of the CoinPayments platform.
To progress to the following tier and unlock increased transaction limits and extra options, you will want to offer further data and full additional verification steps, which can be lined within the Verification Necessities part of this information.
Tier 2
When your whole transaction quantity exceeds $20,000 USD (together with deposits, withdrawals, or API exercise), you’ll be required to finish Tier 2 verification. This tier is designed for customers needing increased transaction limits and extra options.
By finishing Tier 2 verification, you possibly can:
- Transact as much as $100,000 USD in lifetime quantity, together with deposits, withdrawals, and API exercise.
- Proceed utilizing the CoinPayments platform with none fee limitations as much as the Tier 2 quantity restrict.
To progress to the following tier and unlock even increased transaction limits and extra options, you will want to offer additional data and full the mandatory verification steps, which can be lined within the Verification Necessities part of this information.
In case you have any questions or encounter points in the course of the Tier 2 verification course of, please contact our help staff by following the steps within the “Resolving Id Verification Points” part on the finish of this web page.
Tier 3
When your whole transaction quantity exceeds $100,000 USD (together with deposits, withdrawals, or API exercise), you’ll be required to finish Tier 3 verification. This tier is designed for customers with vital transaction volumes who require increased limits and entry to superior options.
The system will mechanically activate fee limitations, and also you’ll have to cross Tier 3 verification to raise these limits.
By finishing Tier 3 verification, you possibly can:
- Transact as much as $1,000,000 USD in lifetime quantity, together with deposits, withdrawals, and API exercise.
- Proceed utilizing the CoinPayments platform with none fee limitations as much as the Tier 3 quantity restrict.
- Entry superior options and advantages tailor-made for high-volume customers.
After efficiently finishing Tier 3 verification, a banner can be displayed in your Dashboard, informing you concerning the choice to improve to a Enterprise/Company Account or stay a Private Account. This alternative permits you to choose the account kind that most accurately fits your wants and necessities.
To progress to the following tier and unlock even increased transaction limits and extra options, you will want to finish the mandatory verification steps, which can be lined within the Verification Necessities part of this information.
In case you have any questions or encounter points in the course of the Tier 3 verification course of, please contact our help staff by following the steps within the “Resolving Id Verification Points” part on the finish of this web page.
Tier 4
Advancing to Tier 4 requires a handbook verification course of, which begins together with your request to replace your account to both a Company or Private account. This tier is designed for customers who have to function at a better degree and require tailor-made verification to fulfill their particular wants.
Must you select to keep up a Private account, you’ll be topic to a transaction restrict of $1,000,000 USD. Should you require increased limits or further options, you might want to contemplate upgrading to a Company account.
By finishing Tier 4 verification, you possibly can:
- Function your account as Company or Private, relying on your enterprise wants and construction.
- Entry options and advantages particular to your chosen account kind.
- Transact as much as $1,000,000 USD in lifetime quantity for Private accounts, with the potential for increased limits for Company accounts.
To provoke the Tier 4 verification course of, you will want to submit a request to our help staff indicating your desire for a Company or Private account. Our compliance staff will then assessment your request and information you thru the mandatory steps to finish the verification course of.
As soon as our compliance staff has reviewed and accredited your request, your account can be up to date to the chosen kind (Company or Private), and also you’ll acquire entry to the corresponding options and advantages.
In case you have any questions or require help in the course of the Tier 4 verification course of, please contact our help staff by following the steps within the “Resolving Id Verification Points” part on the finish of this web page.
Tier 5
Tier 5 verification is the highest verification degree obtainable on the CoinPayments platform, designed for customers with substantial transaction volumes and particular enterprise necessities.
This tier is split into two distinct paths, relying on whether or not you’re a Private or Company account.
If you’re a Private account in Tier 4 and your whole transaction quantity has reached the $1,000,000 USD restrict (together with deposits, withdrawals, or API exercise), you’ll be required to finish Tier 5 verification. This enhanced due diligence course of is important to take away the transaction restrict and guarantee uninterrupted entry to your account.
By finishing Tier 5 verification as a Private account, you possibly can:
- Take away the $1,000,000 USD transaction restrict and proceed utilizing your account with out disruptions
- Entry personalised help and advantages tailor-made for high-volume Private accounts
- Preserve your standing as a Private account whereas working at a better degree
To finish Tier 5 verification as a Private account, you will want to offer further data and documentation, as specified within the Verification Necessities part of this information. Our compliance staff will assessment your submission and work with you to finish the improved due diligence course of.
Upon efficiently approving your improve request, you’ll obtain e-mail affirmation, and the transaction limits in your Private account can be eliminated.
Nevertheless, Company accounts might want to full the Know Your Enterprise (KYB) course of via our accomplice, RiskScreen (now KYC360), to realize full approval. This course of is important to make sure compliance with worldwide rules and keep the safety of our platform.
To finish verification as a Company account, you will want to observe the KYB workflow via RiskScreen (now KYC360), as outlined within the later part of this information. Our compliance staff will help you all through the method and guarantee a easy expertise.
In case you have any questions or require help in the course of the Tier 4 verification course of, please contact our help staff by following the steps within the “Resolving Id Verification Points” part on the finish of this web page.
Verification Necessities
To make sure the safety and integrity of our platform, we require our customers to finish varied verification steps. These necessities assist us adjust to world rules, stop fraudulent actions, and keep a protected person surroundings.
On this part, we’ll information you thru the completely different verification necessities, offering detailed directions and suggestions that will help you full every step efficiently.
Selfie Verification
We require customers to submit a stay selfie as a part of our id verification course of. This step helps us affirm that the particular person creating the account is identical as the person depicted within the supplied id paperwork.
To correctly take and submit a selfie for verification, observe these pointers:
- Guarantee that you’re in a well-lit space with a plain background.
- Maintain your system at eye degree and look instantly into the digicam.
- Take away any hats, sun shades, or different equipment which will obscure your face.
- Be sure that your face is absolutely seen and never lined by hair or arms.
- Preserve a impartial facial features and hold your mouth closed.
- Seize the selfie and assessment it to make sure it meets the above standards.
Merely face the digicam and ensure your face is inside the body. You may also proceed the KYC course of in your telephone by clicking the “Proceed on telephone” hyperlink.
If the digicam doesn’t seize your picture correctly, you would possibly see this web page:
After finishing the selfie step, you will notice a affirmation display screen indicating that you’ve accomplished the necessities:
In case your selfie is rejected, assessment the supplied suggestions and retake the selfie following the rules above. Should you proceed to face points, contact our help staff for help.
Telephone and E-mail Verification
To boost the safety of your account and be sure that we will talk with you successfully, we require customers to confirm their telephone quantity and e-mail tackle.
Suggestions for a profitable telephone and e-mail verification:
- Double-check that your telephone quantity and e-mail tackle are entered accurately.
- Guarantee that you’ve entry to the telephone quantity and e-mail tackle supplied.
- A digital telephone quantity or a disposable e-mail tackle is probably not accepted for verification functions.
- Whitelist the CoinPayments e-mail tackle to forestall verification emails from being marked as spam.
Finishing telephone and e-mail verification helps defend your account from unauthorised entry and ensures you obtain vital communications from our staff.
Proof of Deal with (POA)
As a part of our verification course of, we require customers to submit a legitimate Proof of Deal with (POA) doc. This step helps us affirm your residential tackle and adjust to regulatory necessities.
To submit your Proof of Deal with (POA), please present one of many paperwork listed on the next display screen:
Please be sure that your Proof of Deal with (POA) doc meets the next standards:
- The doc should be issued inside the final 3 months.
- Your full title and residential tackle should be clearly seen.
- The doc should be in a format that can not be simply altered, similar to a PDF or a transparent {photograph}.
When you’ve submitted your Proof of Deal with (POA), our staff will assessment your doc and e-mail you as quickly because the verification is full.
In case your Proof of Deal with (POA) is rejected, you’ll obtain an e-mail with the rationale for the rejection and directions on resubmitting a legitimate doc.
In case you have questions or encounter points whereas submitting your Proof of Deal with (POA), please contact our help staff for assist.
Supply of Funds (SOF)
Supply of funds (SOF) refers back to the origin of the cash utilized in a specific transaction. As a part of our dedication to sustaining a safe and compliant platform, we require customers to offer details about their SOF throughout verification.
When finishing the Industrial Questionnaire or the Account Improve for Retailers Questionnaire, you’ll be requested to specify your Supply of funds (SOF) from among the many following choices:
- Income
- Securities
- Royalties/Dividends from Branches
- Monetary Assist from State/Worldwide Our bodies
- Loans/Credit
- Crypto Forex Buying and selling/Mining
- Actual Property
- Investments
- Different (please point out)
Please choose the choice that the majority precisely represents the first supply of the funds you’ll use to carry out transactions on the CoinPayments platform.
In case your Supply of funds (SOF) isn’t listed among the many obtainable choices, please select “Different” and supply a short clarification.
Offering correct details about your Supply of funds (SOF) is essential for sustaining the integrity of our platform and complying with regulatory necessities.
In case you have a number of sources of funds, please choose essentially the most vital or related one. In some circumstances, our compliance staff might request further documentation to confirm your Supply of funds (SOF).
For enterprise accounts (Service provider accounts), you’ll be required to offer details about your organization’s supply of funds. This will likely embrace income from gross sales, investments, loans, or different business-related revenue.
Please contact our help staff for steerage in case you have any questions or considerations about offering your Supply of funds (SOF) data.
Industrial Questionnaire
As a part of our verification course of, you’re required to finish a questionnaire. This questionnaire is designed to assemble important details about you and your enterprise.
Finishing the Industrial Questionnaire is a important step within the verification course of and by offering the requested data, you show your dedication to transparency and assist us keep a trusted, compliant platform for all our customers.
Please be sure that all data supplied within the Industrial Questionnaire is correct, full, and up-to-date. Our compliance staff will assessment the submitted questionnaire and will request further documentation or clarification if wanted.
In case you have any questions or considerations whereas filling out the Industrial Questionnaire, please contact our help staff for assist.
Upgrading to a Company Account
Should you’re a enterprise or service provider requiring increased transaction limits, further options, and enhanced help, upgrading to a CoinPayments Company account could be the correct alternative.
Advantages of upgrading to a Company Account:
- Larger Transaction Limits: Company accounts have entry to considerably increased transaction limits in comparison with Private accounts, permitting you to course of bigger volumes of funds and transfers.
- Devoted Assist: As a Company account holder, you’ll obtain precedence help from our devoted staff of consultants, guaranteeing that your inquiries and points are addressed promptly.
- Customised Options: Company accounts can entry tailor-made options and integrations designed to streamline fee processing and reporting for companies.
- Lowered Charges: In some circumstances, Company accounts could also be eligible for lowered transaction charges, serving to you lower your expenses in your fee processing prices.
KYB (Know Your Enterprise) – Step-by-Step Information
To improve to a Company account, you must undergo our KYB verification course of. KYB is necessary and ensures CoinPayments complies with monetary rules and reduces dangers to its purchasers. It includes verifying the id of enterprise entities, assessing their popularity, and evaluating potential dangers.
By conducting KYB checks, companies can defend themselves towards monetary losses, authorized penalties, and reputational injury.
To provoke the KYB course of, observe these steps:
Step 1
To begin your KYB course of, please go to https://www.coinpayments.internet/kyb and click on on the “Improve to a Company account” button.
Fill out the shape.
After filling out the shape, our compliance staff manually evaluations your entry and schedules a name to debate the advantages of upgrading. Should you determine to proceed, a hyperlink to begin verification with our accomplice RiskScreen (Now KYC360) can be emailed to you.
Step 2
Click on “Ship Verification Code for RiskScreen (Now KYC360)“, you’ll obtain a singular verification code in your registered e-mail inbox. This code is required to proceed with the Know Your Enterprise (KYB) course of via our accomplice, RiskScreen (Now KYC360).
It’s best to have acquired an e-mail containing a singular verification code. This code serves as a two-factor authentication (2FA) measure to make sure the safety of your account and the KYB course of.
Please verify your registered e-mail inbox for the verification code. The e-mail containing the code can be despatched to the identical tackle you used to create your CoinPayments account.
After getting positioned the e-mail with the verification code:
- Enter the code within the designated discipline.
- Click on “Submit” or “Confirm” to proceed with the KYB course of.
Please word that the verification code is exclusive for every request and can expire after a brief interval. The code proven within the picture, “371477”, is for reference solely and won’t work in your particular verification.
Should you haven’t acquired the e-mail with the verification code, please:
- Test your spam or unsolicited mail folder.
- Wait a couple of minutes, as there could also be a slight delay in receiving the e-mail.
Should you nonetheless haven’t acquired the code, click on on “Ship a brand new verification code” to request a brand new one.
Should you proceed to expertise issues receiving the verification code, please contact the CoinPayments help staff for additional help.
After getting efficiently entered the verification code, it is possible for you to to proceed with the KYB course of.
Step 3
After receiving the verification code out of your registered e-mail, present the required normal, personnel, enterprise, and monetary data, together with particulars of authorised individuals, administrators and supreme useful proprietor(s).
Disclose political publicity and full KYC steps for every Director or UBO.
Signal to substantiate the info submitted by your organization/staff is genuine.
Step 4
As a part of the KYB course of, you’ll be required to add legitimate paperwork which can be no older than three months and in English. These paperwork assist us confirm your enterprise’s id, construction, and monetary standing. Please guarantee that you’ve the next paperwork prepared for add:
- Incorporation paperwork
- Proof of tackle of UBO and/or consultant (not older than 3 months)
- Article of Affiliation/Memorandum of Affiliation
- Extract from Commerce Registry (not older than 3 months)
- Record of certificates of shareholders (not older than 3 months)
- Record of certificates of Administrators (not older than 3 months)
- Firm construction if there are greater than 2 layers (not older than 3 months)
- Newest monetary assertion of the corporate
Please word that the paperwork marked with an asterisk (*) are necessary, whereas the others could also be relevant relying in your firm’s construction and jurisdiction.
When getting ready your paperwork for add, be sure that they meet the next standards:
- All paperwork should be legitimate and up-to-date and issued inside the final three months.
- Paperwork should be in English. In case your unique paperwork are in one other language, please present an authorized English translation.
- Scans or pictures of paperwork should be clear, legible, and full. Low-quality or partial photographs might delay the verification course of.
Step 5
After importing your paperwork efficiently, you’ll see a “Knowledge Assortment Progress – Full” notification.
This display screen confirms that your data and paperwork have been submitted for assessment. At this level, you might safely shut the window.
Be aware: If further paperwork are wanted primarily based in your firm’s nation of incorporation, area, or possession construction, we’ll promptly request them to expedite the onboarding course of. In case your submission meets our preliminary necessities, you’ll obtain an e-mail with hyperlinks to confirm firm shareholders and/or representatives.
Step 6
After your service provider account has been reviewed and accredited, you’ll obtain an e-mail informing you about your account standing and offering additional directions.
Within the e-mail, one can find KYC hyperlinks for every of your organization’s Administrators and Final Helpful House owners (UBOs). Every Director and UBO should efficiently full and cross the KYC course of in your service provider account to obtain ultimate approval.
If any Director or UBO fails to cross the KYC course of, your service provider account may even be rejected. Due to this fact, it’s essential that every one Administrators and UBOs full their KYC verification promptly and precisely.
As soon as all Administrators and UBOs have efficiently handed their KYC verification, your service provider account will obtain ultimate approval, and you’ll be notified through e-mail.
In case you have any questions or considerations concerning the Director/UBO KYC course of or your service provider account standing, please contact our help staff for assist.
Resolving Id Verification Points
Should you encounter any points with id verification, such because the add of unsupported paperwork or poor high quality of submitted information, and the issue can’t be simply resolved via your verification dashboard, please observe the steps under to contact our buyer help staff for help.
Step 1
Go to https://www.coinpayments.internet/supwiz and choose “Login/2FA/KYC Points” from the Assist Wizard’s problem classes.
Step 2
Click on on “KYC Points” to proceed to the following step.
Step 3
Learn and ensure your settlement to the help guidelines by checking the field supplied.
Step 4
After agreeing to the help guidelines, copy the help code generated by the system. You will want this code when creating a brand new help ticket at https://coinpay.freshdesk.com/
Fill out the help type with particulars concerning the points you will have and fix any related information or photographs. Be sure that to incorporate the help code you copied in Step 3.
As soon as your help ticket is submitted, a buyer help consultant will contact you to help with resolving your account verification problem.
Should you haven’t begun your KYC course of but, please log into your account at https://www.coinpayments.internet/login to get began.
Our help staff is devoted to serving to you resolve any id verification points you might encounter. We respect your cooperation and understanding all through the verification course of.
If further paperwork are wanted primarily based in your firm’s nation of incorporation, area, or possession construction, we’ll promptly request them to expedite the onboarding course of. In case your submission meets our preliminary necessities, you’ll obtain an e-mail with hyperlinks to confirm firm shareholders and/or representatives.