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Trading crypto for less than €1000? Use simplified KYC process!

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There has never been a better time to sign up for CoinGate trading services! 

coingate verification simplified KYC

From this day forward, natural persons can make use of a simplified KYC approach. A simple, time-saving KYC process allows new CoinGate traders to quickly verify personal accounts and use a full scope of trading services. 

Such a simple way of identifying customers will surely speed up a dull process of setting up an account and, hopefully, become the preferred method for new CoinGate traders to start. 

Simplified KYC for traders: rules and requirements

After passing the simplified KYC process (Dashboard->Account->Verification), users can buy and sell 10+ different crypto-assets worth up to a maximum of €1,000 total. 

trader simple verification

For traders, providing a valid ID card or passport is enough to pass the simplified KYC entirely. 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 simplified KYC on CoinGate?

  1. Register for CoinGate account;bitcoin ban
  2. Go to the Account->Verification menu section or click here, then select the “Continue to Trial Verification option; 
  3. Fill out the empty information fields and click “Next”;
  4. Upload a copy of ID card or passport with a selfie;
  5. Finalize the verification and wait for approval!

Once the compliance team reviews your application, CoinGate will send a notification to your provided email address. The approval process usually takes 1-2 business days, or faster.

Remember that the simplified KYC process has limitations. If you reach the limit of €1000 and decide to use CoinGate further on, the account will not be operational until you pass the full KYC identification.

Here’s how to fully verify your trader account.

If you have any questions, please forward them to CoinGate support team at support@coingate.com, and we’ll do our best to address them promptly!

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