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Buying Virtual Currencies with Bank Transfer

Buying Virtual Currencies with bank transfer payment at Coinify Trade platform is very easy! See how to do it below:

 

Create Order 

  1. Select the 'Buy' option from the left menu once logged in to your Coinify Trade account. 
  2. Enter the amount you want to buy for and you will get the equivalent in Bitcoin and click on 'Continue'.
  3. Select 'Bank Transfer' as a payment method and click on 'Continue'.


! Please note: The exchange rate for your trade might differ from the one displayed on the transaction window. Coinify can process bank buy orders only once the fiat money transfer is completed (and contains necessary reference information). As soon as the money is at our disposal, it will be traded at the currently available exchange rate at the moment.



Confirm Order 

  1. Confirm order summary. 

    Your order summary contains the following information: 

    • The amount you are buying for
    • Fiat currency amount
    • Payment fee
    • Total cost

      You will need to confirm these details before we can direct you to our secure payment provider.

  2. Add your 'Receiver' address. 
    Depending on which virtual currency you are buying, you need to have a wallet which can store it and make sure you have access to it.

    ! Please note: It is very important that you enter correct address information. We will not be able to resend your order nor can we reverse transactions and therefore it is important that you enter this information with caution.

  3. Accept Coinify's terms and conditions and click on 'Continue'.



Edit Order (optional)

If you would like to change the amount that you want to buy for, you can do so via the 'Edit Order' option available on the order confirmation screen (top right).

! Please note: It is only possible to edit your order before making the bank transfer.



Verify your Identity (First Time Buyers Only)

If this is your first order with Coinify, the system will ask you to upload documents that verify your identity and account ownership. This is a standard procedure following the Coinify AML policy.

Your documents will be reviewed by our Compliance team (this might take up to 48 business hours) and you will be notified about the outcome via email. Once you are approved, please initiate a new order following the same steps as they were described up to this point.

 


Make Bank Transfer

Your transaction contains the following information:

  • Amount
  • Currency
  • Reference text: Order ID number (example #123456). 

To complete your buy order, you will need to make a bank transfer to the provided Coinify account. For smooth and fast execution, please follow these instructions very closely:

  • Make the bank transfer only to the account provided. 
    Please do not use any other Coinify bank account you might have from before.

  • Include your Order ID number as a reference text in the 'message to the receiver' section of your bank transfer. 
    Your Order ID contains hash symbol followed by a number digits (example #123456) and can be found in Coinify dashboard under the 'Trade History' menu.

    ! Please note: Not including your Order ID number as the reference text may cause delays in delivery.

  • The bank account used has to be in your own name. 
    Spouses' and corporate accounts are considered 3rd party accounts, even though you are the owner of such a company, and the transfer will be rejected.

 


Check your Order in Trade History 

Once logged in to your Coinify Trade account, you will now be able to see your order under 'Trade History'  with the status 'Waiting for payment'. It will remain like that until we have received your bank transfer. 

Once we receive the payment and all the information is verified, the order status will change to 'Completed' and Bitcoins will be delivered to the address you requested.



To Create a Bank buy order:

Log In To Your myCoinify Account

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Published Date = 12/02/2018
Last Updated Date = 19/06/2019
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