Customer Acceptance Policy Bitvavo

For which users and what operations Bitvavo is intended.

Bitvavo employs a specific customer acceptance policy. Digital currencies have many possibilities, but there are also some risks associated with buying, selling and sending digital currency. Preventing abuse and fraud is the main goal of Bitvavo's customer acceptance policy. On this page you can find out why we have drawn up the customer acceptance policy in its current form and what this means for you.

For whom

To keep the verification process simple and keep Bitvavo accessible, you have to meet a few requirements as a user:

  • done You are from the European Union;
  • done You trade as a private person;
  • done You are 18 years or older and legally competent;
  • done You are not on a sanction list.

Which actions

The goal of Bitvavo is to make digital currency accessible to everyone. To limit risks for novice users, Bitvavo does not offer the following services:

  • clear Leverage/margin trading;
  • clear Initial coin offerings (ICO's);
  • clear New, unknown digital currencies arisen from hard forks;
  • clear Options and CFDs.

Limits

We try to make trading as accessible as possible. However we use a few limits to prevent misuse and comply with legal requirements:

  • keyboard_arrow_right Bank account verification for euro transfers;
  • keyboard_arrow_right Phone authentication for withdrawals/deposits digital currencies;
  • keyboard_arrow_right Email verification for creating an account;
  • keyboard_arrow_right Identity verification for withdrawals/deposits of digital currencies.

Authentication Manual

How we verify your data as soon as possible

The customer acceptance policy of Bitvavo has the consequence that you have to verify some data. By following the verification guides below you can immediately start using digital currency.

Creating an account

To purchase digital currency you need to create an account with Bitvavo. Creating an account is free and only takes a few moments. You have to follow the following steps:

  1. Enter your legal first and last name;
  2. Enter your email address;
  3. Set a password;
  4. Select your nationality;
  5. Agree to the terms and conditions;
  6. Confirm your email adress.

Phone number

To deposit and withdraw digital currency to or from an external address, you must confirm your telephone number. This works as follows:

  1. You log in to your Bitvavo account;
  2. You navigate to the "My Account" page;
  3. Press the blue "Verify phone" button;
  4. Enter your telephone number;
  5. You receive an SMS with a code from Bitvavo;
  6. Enter this code on your Bitvavo account.

Bank Account

Your bank account is automatically checked once the Bitvavo Payments Foundation has received amounts from you. Your bank account must meet some requirements:

  • done You have an IBAN bank account from the European Union;
  • done The name of your bank account corresponds to your Bitvavo name;
  • done You use a personal bank account;
  • done Your bank account is not already used by another user;
  • done The amount deposited is less than your trade limit.

If your bank account has been rejected, the amount you have deposited will automatically be refunded. This usually takes one to three working days.

Identity document

If you wish to deposit or withdraw digital currency, you must verify your ID. Make sure that the documents that you submit:

  • done Are of high quality;
  • done Are in color;
  • done Are submitted completely;
  • done Are completely visible, without missing corners;
  • done Have not expired.

You need to protect your citizen service number, we do not need it. You may add a watermark.

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Verification