Verification

Use of our website

bit4coin’s services are intended to be used by individuals residing in the Euopean Union that exceed the required age of 18 years for buying digital currencies for personal use.

The following use of bit4coin’s vouchers is not allowed:

  • directing individuals to our service as a means for you to accept payment in digital currency
  • redeeming our vouchers on behalf of third parties
  • reselling of bit4coin vouchers (online or offline), unless specifically agreed upfront in writing with bit4coin
  • exchanging bit4coin vouchers into funds or using our vouchers as a means to pay for other services
  • using bit4coin vouchers to fund accounts of online (trading) platforms.

Our terms and conditions provide additional details on how to use our website.

Order and verification process

As soon as we receive the payment for an order we will:

  1. acknowledge acceptance of the order by email
  2. review the order in line with our compliance policy
  3. send a verification request by email where applicable
  4. review the KYC-information within 1 business day after submittal of the complete documents
  5. approve and prepare the order for delivery.

Digital currencies will be sent to the receiving wallet address as provided to us on our redemption page. Digital currency transactions cannot be reversed, exchanged or returned. bit4coin gift vouchers remain valid for 2 years from the date of purchase.

Limits and enhanced due diligence

We always request a proof of identity for all order amounts. The process requires customers to provide the following verification information:

  • A copy of the customer’s passport or identity card (upload both sides) in high resolution (your social security number, SSN may be hidden);
  • A recent official document with the address of the customer (e.g. a utility bill that states the name and address in clearly visible letters);
  • A selfie (photo of oneself) or video verification.

bit4coin’s compliance team may request additional information or require enhanced due diligence (by asking for source of funds and additional questions) in certain cases.

PEPs and sanction hits

The following additional verification checks are carried out on the basis of the above information:

  1. Check whether the customer is considered a Politically Exposed Person (‘PEP’)
  2. Check the customer for sanctions circumvention and embargo monitoring
  3. Check customer for adverse media.

Refusal

If for any reason the customer refuses to provide the requested documents, bit4coin will unfortunately have to cancel the order and refund the full amount to the customer’s bank account. In these cases, bit4coin will request verification for any future order amount.

Business accounts

bit4coin offers accounts for businesses. The account validation process follows a stringent customer identification procedure via business registration and incorporation documents, as well as identification of the business’s authorised representatives and ultimate beneficial owners (UBOs).

Contact

Issues relating to fraud and enquiries by authorities can be emailed to: compliance@bit4coin.net

bit4coin BV • Johan Huizingalaan 763a • 1066 VH Amsterdam • Netherlands

VAT ID: NL 853290854B01 • Chamber of Commerce: 59038489 (Amsterdam)

support@bit4coin.net