As a registered financial institution, we must comply with different guidelines and regulations within the industry. One of the new additions to our verification process is gathering more information about our customers - why and how they will use our services.
It is required to answer the questionnaire with each first purchase or sale.
Once the identity (document and selfie) verification is done via Onfido, you will be asked to submit a mandatory questionnaire with questions that comply with industry standards.
Firstly, a heads about this process will be given.
By pressing "Let's start", you will be taken to the first question, asking about the purpose of using our services.
You should answer this question based on what you are carrying out - a cryptocurrency purchase or sale. If you are interested in both, mark the answers accordingly.
You will then be asked to answer 2 questions about the expected activity of using our services - how many transactions you think you will issue in a month and the expected monthly activity in EUR, both for buying or selling cryptocurrency.
Then, you will be asked about the source of wealth/funds. This includes questions like the principal source of your funds, your employment status, and monthly income.
Note: When selecting the employment status, if you choose "Employed", an additional drop-down menu will appear below, and you will need to choose the industry in which you are employed.
The last part of the questionnaire requires you to confirm that you are not a politically exposed person (PEP), nor are you a close family member of such an individual, and that all of the information submitted is accurate and correct.
Once you click "Done", the information provided will be reviewed. You will see the usual loading screen, which will inform you about this. When the information is reviewed, you will be notified that you can proceed or that the purchase/sale will be declined. If the purchase or sale is rejected, you will see a message on the screen and get a corresponding email as well.
If you have any questions during the process, please contact us directly.