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Businesses can now apply for a CoinGate Trial Account!

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Now is the best time for companies to test CoinGate payment processing services as the trial account for businesses has become available! 

business trial account kyc

In essence, a trial account allows companies to use CoinGate merchant tools (API, plugins, billing, etc.) and trading services with less KYC required than usual; however, limitations apply:

The trial account stops functioning if any of these two conditions are met. All limitations are lifted once the full business KYC is complete.

Trial account for new businesses: rules and requirements

The trial account (Dashboard->Account->Verification) gives companies ample time and resources to test CoinGate payment tools live in production and pass the full KYC process during the trial period stress-free.

It works as follows:

business trial verification window

Only businesses that operate in non-high risk industries are eligible for the trial account to accept cryptocurrency payments worth up to €1,000 in total for one month;

Trial accounts are available only to companies from the European member states (excluding Bulgaria, Croatia, Cyprus and the UK). We plan to expand this feature to other countries as well; however, full KYC remains available for businesses across the world. 

The company in question also has to be easily identifiable online as existing and operational (eg., clear record in a business registry, notable history of operations, active and functional website, etc.). 

For businesses, a valid ID card or passport of a Managing Director is the only official document needed to get the business’s trial account verified.  All customers go through live ID verification using Onfido.

According to the local Lithuanian laws, this is the information that has to be shown on the document for us to consider it as a valid ID: 

simplified KYC requirements

How to pass the trial account KYC on CoinGate?

  1. Register for CoinGate account;bitcoin ban
  2. Click on the icon in the top right corner of a dashboard and click the “Create business account” button;
  3. Go to the Account->Verification menu section or click here, then select the “Continue to Trial Verification” option; 
  4. Provide the necessary company/personal details and click “Next”;
  5. Upload a copy of ID card or passport;
  6. Finalize the verification and wait for approval!

Once the compliance team reviews your application, CoinGate will send a notification to your provided email address.

Remember that the trial verification is just for trying out the payment processing services. If you decide to use CoinGate further on, you’ll have to pass the full verification eventually.

To do that, read this article on how to start the complete verification of your business!

Got questions? Forward them to CoinGate support team at support@coingate.com, and we’ll do our best to address them promptly!

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