At CoinPayments, guaranteeing the safety and compliance of our platform is a high 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 high monetary establishments worldwide. These platforms totally adjust to GDPR and different information safety laws, guaranteeing your data 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 start out transacting shortly while offering extra 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 stage. We’ll additionally exhibit find out how to contact help in case you encounter any points.
Let’s get began.
Verification Tiers
For “Whole Transaction Quantity,” we depend funds, deposits, withdrawals, and transfers in the direction of the amount limits. This consists of all transactions carried out on the consumer interface or by way of API exercise, whatever the cryptocurrency used, so long as it has a constructive Bitcoin change price (AnyCoin/BTC) and is supported for every transaction sort.
Please be aware that we might dynamically modify the verification necessities for every Stage or account sort based mostly on international AML/CTF and counterparty danger 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 consumer, as the necessities might differ relying on particular person circumstances and the ever-changing regulatory panorama.
Tier 1: Primary Verification
To start out utilizing the CoinPayments platform, all customers should full our Primary Verification course of, also referred to as Tier 1. This preliminary verification is designed to be fast and straightforward, permitting you to start out 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 following tier and unlock greater transaction limits and extra options, you have to to supply extra data and full additional verification steps, which will probably be coated 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 greater 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 greater transaction limits and extra options, you have to to supply additional data and full the mandatory verification steps, which will probably be coated within the Verification Necessities part of this information.
When you have any questions or encounter points through 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 greater limits and entry to superior options.
The system will mechanically activate fee limitations, and also you’ll must move Tier 3 verification to elevate 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 will probably 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 following tier and unlock even greater transaction limits and extra options, you have to to finish the mandatory verification steps, which will probably be coated within the Verification Necessities part of this information.
When you have any questions or encounter points through 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 guide 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 must function at a better stage and require tailor-made verification to satisfy 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. If you happen to require greater limits or extra options, chances are you’ll 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 what you are promoting 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 greater limits for Company accounts.
To provoke the Tier 4 verification course of, you have to 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 authorised your request, your account will probably 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 have any questions or require help through 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 stage 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 whole transaction quantity has reached the $1,000,000 USD restrict (together with deposits, withdrawals, or API exercise), you may 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
- Keep your standing as a Private account whereas working at a better stage
To finish Tier 5 verification as a Private account, you have to to supply extra 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 electronic mail affirmation, and the transaction limits in your Private account will probably be eliminated.
Nonetheless, Company accounts might want to full the Know Your Enterprise (KYB) course of by way of our accomplice, RiskScreen (now KYC360), to realize full approval. This course of is crucial to make sure compliance with worldwide laws and keep the safety of our platform.
To finish verification as a Company account, you have to to observe the KYB workflow by way of 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.
When you have any questions or require help through 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 numerous verification steps. These necessities assist us adjust to international laws, forestall fraudulent actions, and keep a secure consumer setting.
On this part, we’ll information you thru the completely different verification necessities, offering detailed directions and ideas that will help you full every step efficiently.
Selfie Verification
We require customers to submit a dwell selfie as a part of our id verification course of. This step helps us verify that the individual creating the account is identical as the person depicted within the offered 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 machine at eye stage and look immediately into the digicam.
- Take away any hats, sun shades, or different equipment which will obscure your face.
- Make certain your face is totally seen and never coated by hair or palms.
- Keep a impartial facial features and preserve 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 as well 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 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, assessment the offered suggestions and retake the selfie following the rules above. If you happen to proceed to face points, contact our help staff for help.
Cellphone and E mail Verification
To boost the safety of your account and be certain that we are able to talk with you successfully, we require customers to confirm their telephone quantity and electronic mail deal with.
Suggestions for a profitable telephone and electronic mail verification:
- Double-check that your telephone quantity and electronic mail deal with are entered appropriately.
- Guarantee that you’ve entry to the telephone quantity and electronic mail deal with offered.
- A digital telephone quantity or a disposable electronic mail deal with will not be accepted for verification functions.
- Whitelist the CoinPayments electronic mail deal with to forestall verification emails from being marked as spam.
Finishing telephone and electronic mail verification helps defend your account from unauthorised entry and ensures you obtain essential communications from our staff.
Proof of Tackle (POA)
As a part of our verification course of, we require customers to submit a sound Proof of Tackle (POA) doc. This step helps us verify your residential deal with and adjust to regulatory necessities.
To submit your Proof of Tackle (POA), please present one of many paperwork listed on the next display screen:
Please be certain that your Proof of Tackle (POA) doc meets the next standards:
- The doc should be issued inside the final 3 months.
- Your full title and residential deal with should be clearly seen.
- The doc should be in a format that can’t be simply altered, akin to a PDF or a transparent {photograph}.
When you’ve submitted your Proof of Tackle (POA), our staff will assessment your doc and electronic mail you as quickly because the verification is full.
In case your Proof of Tackle (POA) is rejected, you’ll obtain an electronic mail with the rationale for the rejection and directions on resubmitting a sound doc.
When you have questions or encounter points whereas submitting your Proof of Tackle (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 supply details about their SOF throughout verification.
When finishing the Industrial Questionnaire or the Account Improve for Retailers Questionnaire, you may be requested to specify your Supply of funds (SOF) from among the many following choices:
- Income
- Securities
- Royalties/Dividends from Branches
- Monetary Help 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 have a number of sources of funds, please choose essentially the most vital or related one. In some circumstances, our compliance staff might request extra documentation to confirm your Supply of funds (SOF).
For enterprise accounts (Service provider accounts), you may be required to supply details about your organization’s supply of funds. This will likely embody income from gross sales, investments, loans, or different business-related earnings.
Please contact our help staff for steering you probably have any questions or considerations about offering your Supply of funds (SOF) data.
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 what you are promoting.
Finishing the Industrial Questionnaire is a crucial step within the verification course of and by offering the requested data, you exhibit your dedication to transparency and assist us keep a trusted, compliant platform for all our customers.
Please be certain that all data offered within the Industrial Questionnaire is correct, full, and up-to-date. Our compliance staff will assessment the submitted questionnaire and will request extra documentation or clarification if wanted.
When you have any questions or considerations whereas filling out the Industrial Questionnaire, please contact our help staff for assist.
Upgrading to a Company Account
If you happen to’re a enterprise or service provider requiring greater transaction limits, extra options, and enhanced help, upgrading to a CoinPayments Company account may be the proper selection.
Advantages of upgrading to a Company Account:
- Larger Transaction Limits: Company accounts have entry to considerably greater transaction limits in comparison with Private accounts, permitting you to course of bigger volumes of funds and transfers.
- Devoted Help: 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 get monetary savings in your fee processing prices.
KYB (Know Your Enterprise) – Step-by-Step Information
To improve to a Company account, that you must undergo our KYB verification course of. KYB is obligatory and ensures CoinPayments complies with monetary laws and reduces dangers to its purchasers. It includes verifying the id of enterprise entities, assessing their repute, 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 start out your KYB course of, please go to https://www.coinpayments.web/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 opinions your entry and schedules a name to debate the advantages of upgrading. If you happen to resolve to proceed, a hyperlink to start out verification with our accomplice RiskScreen (Now KYC360) will probably 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 electronic mail inbox. This code is required to proceed with the Know Your Enterprise (KYB) course of by way of our accomplice, RiskScreen (Now KYC360).
You need to have acquired an electronic 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 electronic mail inbox for the verification code. The e-mail containing the code will probably be despatched to the identical deal with you used to create your CoinPayments account.
After getting situated 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 be aware 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 on your particular verification.
If you happen to haven’t acquired the e-mail with the verification code, please:
- Verify your spam or spam folder.
- Wait a couple of minutes, as there could also be a slight delay in receiving the e-mail.
If you happen to nonetheless haven’t acquired the code, click on on “Ship a brand new verification code” to request a brand new one.
If you happen to 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 electronic mail, present the required basic, 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 verify the information submitted by your organization/staff is genuine.
Step 4
As a part of the KYB course of, you may be required to add legitimate paperwork which can be no older than three months and in English. These paperwork assist us confirm what you are promoting’s id, construction, and monetary standing. Please guarantee that you’ve the next paperwork prepared for add:
- Incorporation paperwork
- Proof of deal with 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 be aware that the paperwork marked with an asterisk (*) are obligatory, 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 should be legitimate and up-to-date and issued inside the final three months.
- Paperwork should be in English. In case your authentic paperwork are in one other language, please present an authorized English translation.
- Scans or images of paperwork should be clear, legible, and full. Low-quality or partial pictures might delay the verification course of.
Step 5
After importing your paperwork efficiently, you’ll see a “Information Assortment Progress – Full” notification.
This display screen confirms that your data and paperwork have been submitted for assessment. At this level, chances are you’ll safely shut the window.
Be aware: If extra paperwork are wanted based mostly 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 electronic mail with hyperlinks to confirm firm shareholders and/or representatives.
Step 6
After your service provider account has been reviewed and authorised, you’ll obtain an electronic mail informing you about your account standing and offering additional directions.
Within the electronic mail, you will discover KYC hyperlinks for every of your organization’s Administrators and Final Useful Homeowners (UBOs). Every Director and UBO should efficiently full and move the KYC course of on your service provider account to obtain ultimate approval.
If any Director or UBO fails to move the KYC course of, your service provider account may even be rejected. Subsequently, 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 may be notified by way of electronic mail.
When you have any questions or considerations in regards to the Director/UBO KYC course of or your service provider account standing, please contact our help staff for assist.
Resolving Id Verification Points
If you happen to 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 by way of your verification dashboard, please observe the steps under to contact our buyer help staff for help.
Step 1
Go to https://www.coinpayments.web/supwiz and choose “Login/2FA/KYC Points” from the Help Wizard’s difficulty 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 offered.
Step 4
After agreeing to the help guidelines, copy the help code generated by the system. You will have this code when creating a brand new help ticket at https://coinpay.freshdesk.com/
Fill out the help type with particulars in regards to the points you could have and fix any related information or pictures. Make certain 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 difficulty.
If you happen to haven’t begun your KYC course of but, please log into your account at https://www.coinpayments.web/login to get began.
Our help staff is devoted to serving to you resolve any id verification points chances are you’ll encounter. We respect your cooperation and understanding all through the verification course of.
If extra paperwork are wanted based mostly 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 electronic mail with hyperlinks to confirm firm shareholders and/or representatives.
