KYC explained (Know Your Customer)

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Dear Coinmate fans, we hope you enjoyed the last article about verification on Coinmate and mainly, that it helped you to get through, or to advise your friends.

Here we are again to bring you another piece of information about our verification process.

Now you most probably completed the video verification and uploaded your bank statement as well. Once you start trading, you can come to a point that daily and monthly FIAT transaction limits do not fit your needs. We can, of course, push you verification higher and let you withdraw and deposit more FIAT funds, and along with that, our AML law dictates us to get more information from you.

Luckily, it is just a form that could be filled in within minutes. It is called KYC questionnaire (KYC stands for Know Your Customer) and you can find it in
“Get Verified” menu. It is necessary to download, print, and fill it in by hand (we need a handwritten signature there). Then please upload it in PDF or PNG file format through the Get Verified page.

Get Verified page on Coinmate.io
Get Verified page on Coinmate.io

Our verification department should raise the limits right away, or get back to you, within 24 hours (during workdays) regarding any additional questions. Please take good care to fill in sections “Source of funds information” and “Use of funds information”, these are the key part of the KYC form.

If possible, be as precise and detailed as possible here, you can even add notes to the info provided. The more we get from you here, the less we have to require afterward, so the whole process gets faster.

It is really as simple as that, so if you plan to trade higher volumes, we recommend you to proceed to this verification step right away. We are sure that now you want to ask – what is the next step here? What if I need even higher limits for depositing and withdrawing? There is, of course Even in case you want to trade very high volumes, we are prepared to provide that service to you.

Limits page on coinmate.io
Limits page on coinmate.io

We just have to know each other a little bit more, so such thing is possible after at least a month of trading on KYC verification level. If this condition is met, please let us know through our support messaging. All we need to know is how high should the monthly and daily FIAT limits be for you Coinmate account. According to that, we can require additional info, and if possible, set these limits higher for you.

With hope you enjoyed this one, we are already preparing more tutorials and Coinmate functionality insights for you. So stay tuned.


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