At Bity, we are compliant with Swiss regulation frameworks aiming to prevent money laundering. We have three different Identifications Levels and our Compliance Team follows proper know-your-customer (KYC) and anti-money laundry (AML) procedures according to each level.
You can find your Quota level in "My Info".
1. Standard Level
We only require an email and a phone number for this level but you are only allowed to SELL cryptocurrencies up to 5000 CHF/EUR a year and TRADE/SWAP crypto to crypto without limit.
If you want to know more about how to SELL, you can find more info here. For higher amounts, you need to get verified. Keep reading!
If you want to know more about how to TRADE/SWAP, you can find more info here. For higher amounts, you need to get verified. Keep reading!
2. Advanced Level
We must ask for specific information for setting an order to BUY cryptocurrencies with EUR or CHF or if you want to increase your Standard Level account.
Just check the steps below to know how to get ready to set your first BUY order and get some bitcoins (BTC) or ether (ETH):
1) If you have just opened your account: provide us your phone number and your email address! Your phone number is also used to add a security layer to your account. Yes - you can start the process of verifying yourself for Advanced level as soon as you open your account!
2) Make sure you have entered your personal information details (name, address, nationality and birth date) in your profile located in "My Info".
3) Go to the tab "My Info" and click the "Complete my profile" button. You will see now your current level and the list of documents you need to submit.
Upload a proof of residence to your account. The billing date must not be older than three months since invoiced and must show your name and address. Accepted documents:
- Bank statements
- Credit Card statements
- Internet bills
- Fixed-line telephone bills
- Electricity bills
- Water or gas bills
Upload a copy of a valid identity document (front and back) or passport, which must be signed and with a legible MRZ code and a photograph. Please note that driving licenses, residency permits or expired documents are not accepted. Choose the type of document you want to add. In this case, ID or passport.
Fill out Registration Form: Choose between individual or company. Fill out all the required fields and click "Submit". All information is required, an incomplete form will be rejected.
Fill out the Beneficial owner form: Fill out all the required fields and click "Submit". All information is required, an incomplete form will be rejected.
4) As soon as we receive all the documents and verify them, you will be able to BUY CRYPTOCURRENCIES by setting a fiat (CHF/EUR) to crypto (BTC/ETH/REP) order.
Important: If you don't follow the next step, you will remain in Standard Level.
5) To finally get you to the Advanced Level, it is mandatory to have an executed fiat to crypto order and the payment you make has to be with a bank account in your name. If your bank account does not match your profile name we are going to cancel the order and the refund the amount.
Your identification level should be now set as Advanced Level:
- Limit per transaction: 50,000 Swiss Francs (CHF)
- Buy and sell annul volume limit: 100,000 Swiss Francs (CHF)
3. Expert Level
Advanced is not enough for you? Do not worry, our expert level is waiting for you.
Before requesting the upgrade, make sure that you have reached an annual transaction volume of more than 50,000 Swiss Francs (CHF). If you already reached it, you can request the Expert Level:
- Contact our Support Team through your dashboard.
- Additional verification information will be required such as proof of origin of funds:
- Tax declaration
- Income statements
- Bank statements
Any other additional information request will depend on your profile and is subject to change.
After the verification, your identification level should be now set as Expert Level:
- Limit per transaction: 500,000 Swiss Francs (CHF)
- Buy and sell annul volume limit: Unlimited
Other Helpful Guides
- How to register on Bity.com
- How to BUY Crypto (BTC/ETH/REP) with Fiat (CHF/EUR) on bity.com
- How to SWAP Crypto to Crypto: Ethers (ETH) and Bitcoins (BTC) on bity.com
- How to SELL Crypto (BTC/ETH) to Fiat (CHF/EUR) on Bity.com
- Cryptocurrencies you can BUY / SELL / SWAP on Bity.com
Visit our Frequently Asked Questions to know more about our products. If you have any doubt or need assistance, we will be very happy to help you. Find us on your portal dashboard, we are inside the little bubble on the bottom right. Open a conversation with us!