At CoinPayments, guaranteeing the safety and compliance of our platform is a prime precedence. We require all customers to finish Id Verification to attain 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 totally adjust to GDPR and different information safety laws, guaranteeing your info is safe and personal.
We perceive that verification can typically 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 easy and user-friendly, permitting you to begin transacting rapidly whereas offering extra verification as your exercise on the platform grows.
On this tutorial, we’ll information you thru the totally different verification tiers, explaining the necessities and advantages at every degree. We’ll additionally reveal tips on how to contact assist should you encounter any points.
Let’s get began.
Verification Tiers
For “Whole Transaction Quantity,” we depend funds, deposits, withdrawals, and transfers in direction of the amount limits. This consists of all transactions carried out on the person interface or by API exercise, whatever the cryptocurrency used, so long as it has a optimistic Bitcoin alternate fee (AnyCoin/BTC) and is supported for every transaction sort.
Please word that we might dynamically alter the verification necessities for every Degree or account sort 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: Fundamental Verification
To begin utilizing the CoinPayments platform, all customers should full our Fundamental Verification course of, also called Tier 1. This preliminary verification is designed to be fast and simple, 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 primary options of the CoinPayments platform.
To progress to the subsequent tier and unlock larger transaction limits and extra options, you have to to offer extra info and full additional verification steps, which shall be lined within the Verification Necessities part of this information.
Tier 2
When your complete 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 larger 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 cost limitations as much as the Tier 2 quantity restrict.
To progress to the subsequent tier and unlock even larger transaction limits and extra options, you have to to offer additional info and full the mandatory verification steps, which shall be lined within the Verification Necessities part of this information.
When you’ve got any questions or encounter points in the course of the Tier 2 verification course of, please contact our assist workforce by following the steps within the “Resolving Id Verification Points” part on the finish of this web page.
Tier 3
When your complete 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 larger limits and entry to superior options.
The system will robotically activate cost limitations, and also you’ll must cross Tier 3 verification to carry 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 cost 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 shall be displayed in your Dashboard, informing you in regards to the choice to improve to a Enterprise/Company Account or stay a Private Account. This selection permits you to choose the account sort that most closely fits your wants and necessities.
To progress to the subsequent tier and unlock even larger transaction limits and extra options, you have to to finish the mandatory verification steps, which shall be lined within the Verification Necessities part of this information.
When you’ve got any questions or encounter points in the course of the Tier 3 verification course of, please contact our assist workforce 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 guide verification course of, which begins along with your request to replace your account to both a Company or Private account. This tier is designed for customers who must function at a better degree and require tailor-made verification to fulfill their particular wants.
Do you have to select to take care of a Private account, you’ll be topic to a transaction restrict of $1,000,000 USD. When you require larger limits or extra options, you could want to think about upgrading to a Company account.
By finishing Tier 4 verification, you possibly can:
- Function your account as Company or Private, relying on your online business wants and construction.
- Entry options and advantages particular to your chosen account sort.
- Transact as much as $1,000,000 USD in lifetime quantity for Private accounts, with the potential for larger limits for Company accounts.
To provoke the Tier 4 verification course of, you have to to submit a request to our assist workforce indicating your choice for a Company or Private account. Our compliance workforce will then evaluate your request and information you thru the mandatory steps to finish the verification course of.
As soon as our compliance workforce has reviewed and accepted your request, your account shall be up to date to the chosen sort (Company or Private), and also you’ll acquire entry to the corresponding options and advantages.
When you’ve got any questions or require help in the course of the Tier 4 verification course of, please contact our assist workforce 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 out there 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 complete transaction quantity has reached the $1,000,000 USD restrict (together with deposits, withdrawals, or API exercise), you can 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 assist 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 have to to offer extra info and documentation, as specified within the Verification Necessities part of this information. Our compliance workforce will evaluate 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 shall be eliminated.
Nevertheless, Company accounts might want to full the Know Your Enterprise (KYB) course of by our companion, RiskScreen (now KYC360), to attain full approval. This course of is crucial to make sure compliance with worldwide laws and preserve the safety of our platform.
To finish verification as a Company account, you have to to observe the KYB workflow by RiskScreen (now KYC360), as outlined within the later part of this information. Our compliance workforce will help you all through the method and guarantee a clean expertise.
When you’ve got any questions or require help in the course of the Tier 4 verification course of, please contact our assist workforce 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 laws, forestall fraudulent actions, and preserve a secure person surroundings.
On this part, we’ll information you thru the totally different verification necessities, offering detailed directions and suggestions that can assist you full every step efficiently.
Selfie Verification
We require customers to submit a dwell selfie as a part of our identification verification course of. This step helps us verify that the individual creating the account is identical as the person depicted within the offered identification 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 straight into the digital camera.
- Take away any hats, sun shades, or different equipment that will obscure your face.
- Ensure that your face is totally seen and never lined by hair or fingers.
- Preserve a impartial facial features and maintain your mouth closed.
- Seize the selfie and evaluate it to make sure it meets the above standards.
Merely face the digital camera and ensure your face is inside the body. You can too proceed the KYC course of in your cellphone by clicking the “Proceed on cellphone” hyperlink.
If the digital camera doesn’t seize your picture correctly, you may see this web page:
After finishing the selfie step, you will note a affirmation display screen indicating that you’ve accomplished the necessities:
In case your selfie is rejected, evaluate the offered suggestions and retake the selfie following the rules above. When you proceed to face points, contact our assist workforce for help.
Telephone and E mail Verification
To reinforce the safety of your account and be certain that we will talk with you successfully, we require customers to confirm their cellphone quantity and e mail handle.
Ideas for a profitable cellphone and e mail verification:
- Double-check that your cellphone quantity and e mail handle are entered appropriately.
- Guarantee that you’ve entry to the cellphone quantity and e mail handle offered.
- A digital cellphone quantity or a disposable e mail handle might not be accepted for verification functions.
- Whitelist the CoinPayments e mail handle to forestall verification emails from being marked as spam.
Finishing cellphone and e mail verification helps defend your account from unauthorised entry and ensures you obtain essential communications from our workforce.
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 verify your residential handle 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 certain that your Proof of Deal with (POA) doc meets the next standards:
- The doc have to be issued inside the final 3 months.
- Your full title and residential handle have to be clearly seen.
- The doc have to be in a format that can’t be simply altered, reminiscent of a PDF or a transparent {photograph}.
When you’ve submitted your Proof of Deal with (POA), our workforce will evaluate 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.
When you’ve got questions or encounter points whereas submitting your Proof of Deal with (POA), please contact our assist workforce 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 can 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 out there choices, please select “Different” and supply a quick clarification.
Offering correct details about your Supply of funds (SOF) is essential for sustaining the integrity of our platform and complying with regulatory necessities.
When you’ve got a number of sources of funds, please choose probably the most vital or related one. In some circumstances, our compliance workforce might request extra documentation to confirm your Supply of funds (SOF).
For enterprise accounts (Service provider accounts), you can be required to offer details about your organization’s supply of funds. This may occasionally embody income from gross sales, investments, loans, or different business-related revenue.
Please contact our assist workforce for steering in case you have any questions or considerations about offering your Supply of funds (SOF) info.
Industrial Questionnaire
As a part of our verification course of, you might be required to finish a questionnaire. This questionnaire is designed to assemble important details about you and your online business.
Finishing the Industrial Questionnaire is a vital step within the verification course of and by offering the requested info, you reveal your dedication to transparency and assist us preserve a trusted, compliant platform for all our customers.
Please be certain that all info offered within the Industrial Questionnaire is correct, full, and up-to-date. Our compliance workforce will evaluate the submitted questionnaire and will request extra documentation or clarification if wanted.
When you’ve got any questions or considerations whereas filling out the Industrial Questionnaire, please contact our assist workforce for assist.
Upgrading to a Company Account
When you’re a enterprise or service provider requiring larger transaction limits, extra options, and enhanced assist, upgrading to a CoinPayments Company account may be the fitting selection.
Advantages of upgrading to a Company Account:
- Greater Transaction Limits: Company accounts have entry to considerably larger 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 assist from our devoted workforce of specialists, guaranteeing that your inquiries and points are addressed promptly.
- Customised Options: Company accounts can entry tailor-made options and integrations designed to streamline cost processing and reporting for companies.
- Diminished Charges: In some circumstances, Company accounts could also be eligible for lowered transaction charges, serving to you get monetary savings in your cost processing prices.
KYB (Know Your Enterprise) – Step-by-Step Information
To improve to a Company account, it is advisable undergo our KYB verification course of. KYB is necessary and ensures CoinPayments complies with monetary laws and reduces dangers to its purchasers. It includes verifying the identification of enterprise entities, assessing their fame, and evaluating potential dangers.
By conducting KYB checks, companies can defend themselves towards monetary losses, authorized penalties, and reputational harm.
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 workforce manually evaluations your entry and schedules a name to debate the advantages of upgrading. When you resolve to proceed, a hyperlink to begin verification with our companion RiskScreen (Now KYC360) shall 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 by our companion, RiskScreen (Now KYC360).
You must 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 test your registered e mail inbox for the verification code. The e-mail containing the code shall be despatched to the identical handle you used to create your CoinPayments account.
After getting positioned the e-mail with the verification code:
- Enter the code within the designated subject.
- 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 to your particular verification.
When you haven’t acquired the e-mail with the verification code, please:
- Examine your spam or unsolicited mail folder.
- Wait a couple of minutes, as there could also be a slight delay in receiving the e-mail.
When you nonetheless haven’t acquired the code, click on on “Ship a brand new verification code” to request a brand new one.
When you proceed to expertise issues receiving the verification code, please contact the CoinPayments assist workforce 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 basic, personnel, enterprise, and monetary info, 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/workforce is genuine.
Step 4
As a part of the KYB course of, you can be required to add legitimate paperwork which can be no older than three months and in English. These paperwork assist us confirm your online business’s identification, construction, and monetary standing. Please guarantee that you’ve the next paperwork prepared for add:
- Incorporation paperwork
- Proof of handle 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 making ready your paperwork for add, be certain that they meet the next standards:
- All paperwork have to be legitimate and up-to-date and issued inside the final three months.
- Paperwork have to be in English. In case your unique paperwork are in one other language, please present a licensed English translation.
- Scans or images of paperwork have to be clear, legible, and full. Low-quality or partial photos 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 info and paperwork have been submitted for evaluate. At this level, you could safely shut the window.
Word: If extra paperwork are wanted primarily based in your firm’s nation of incorporation, area, or possession construction, we are going to 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 accepted, you’ll obtain an e mail informing you about your account standing and offering additional directions.
Within the e mail, you’ll discover KYC hyperlinks for every of your organization’s Administrators and Final Useful Homeowners (UBOs). Every Director and UBO should efficiently full and cross the KYC course of to your service provider account to obtain ultimate approval.
If any Director or UBO fails to cross the KYC course of, your service provider account will even be rejected. Due to this fact, it’s essential that each 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 can be notified by way of e mail.
When you’ve got any questions or considerations in regards to the Director/UBO KYC course of or your service provider account standing, please contact our assist workforce for assist.
Resolving Id Verification Points
When you encounter any points with identification verification, such because the add of unsupported paperwork or poor high quality of submitted information, and the issue can’t be simply resolved by your verification dashboard, please observe the steps beneath to contact our buyer assist workforce for help.
Step 1
Go to https://www.coinpayments.internet/supwiz and choose “Login/2FA/KYC Points” from the Assist Wizard’s challenge classes.
Step 2
Click on on “KYC Points” to proceed to the subsequent step.
Step 3
Learn and ensure your settlement to the assist guidelines by checking the field offered.
Step 4
After agreeing to the assist guidelines, copy the assist code generated by the system. You’ll need this code when creating a brand new assist ticket at https://coinpay.freshdesk.com/
Fill out the assist kind with particulars in regards to the points you’ve and fix any related information or photos. Ensure that to incorporate the assist code you copied in Step 3.
As soon as your assist ticket is submitted, a buyer assist consultant will contact you to help with resolving your account verification challenge.
When you haven’t begun your KYC course of but, please log into your account at https://www.coinpayments.internet/login to get began.
Our assist workforce is devoted to serving to you resolve any identification verification points you could encounter. We admire your cooperation and understanding all through the verification course of.
If extra paperwork are wanted primarily based in your firm’s nation of incorporation, area, or possession construction, we are going to 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.