Verifying your source of funds - Australia
- If you want to buy more than $25,000 of cryptocurrency in total, or more than $10,000 per day, then we will need you to verify your source of AUD.
- If you want to sell cryptocurrency worth more than $25,000 in total, we need to verify your source of cryptocurrency.
Here are some examples of sources of funds set out below. If you have a source of funds that isn’t included here, just get in touch and we can help you out.
Verifying your source of AUD
|Sources of funds||Examples of evidence|
|Employment (e.g. salary, wages etc)||
|Long term savings||
|Sale of property||
|Sale of Shares||
|Running your own business||
Verifying your source of cryptocurrency
If you bought your cryptocurrency through us originally, no worries! Nothing further required. You’ll be able to sell the same amount back to us, no matter what the value has changed to. E.g. if you bought 3 BTC from us and 10 XRP you can sell back 3 BTC and 10 XRP regardless of how high they moon.
If you received your cryptocurrency somewhere else, you’ll need to provide us with evidence to show where this has come from. Applications will be considered on a case-by-case basis, and we can’t provide any guarantees on what will be accepted or not. However, we can provide some guidance on the types of things we ask for:
|Sources of cryptocurrency||Examples of evidence|
|Purchased on an offshore exchange|| • Bank statements showing your AUD withdrawals out to that exchange
|Purchased through localbitcoins|| • Bank statements showing your AUD payment to a localbitcoins seller
|Purchased on another Australian exchange|| • Bank statements showing your withdrawals to that exchange
|The cryptocurrency was mined|| • Your coins have no previous transaction history
For other cases, the type of questions we might ask are:
- Where is the cryptocurrency now? Provide addresses for the current wallet(s)
- How did it get there? Past blockchain history showing movements to get there
- How did you get it? Records of your trading history and bank history supporting
For any questions, or to discuss your specific situation, just get in touch and we can help you out.