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Things you need to know when buying virtual currencies from Coinify

You are always welcome to contact Coinify support and we will guide you through the process. Yet, we recommend that you read the instructions found in this article carefully, as it holds answers to most of the questions you might have.

The article contains the most crucial information to help you avoid mistakes and successfully complete your transactions.

To buy and sell Bitcoin on myCoinify platform, first, you have to complete an Identity Verification with Coinify.

1.  In case you are buying with card:

  • Have sufficient funds available on your card.

  • Have a credit card issued in your name and have a billing address. Anonymous cards will not be accepted.

  • Make sure that your card has 3D-secure as we process transactions only from cards that have the 3D-Secure feature activated.

  • Be aware that the fact that your identity verification has been successful does not imply that all your future card orders will be accepted.

2.  In case you are buying with bank transfer:

  • Never send a bank transfer unless you have created a trade for it and have a Trade ID.

  • Always include the Trade ID as 'message to receiver'  when sending a bank transfer. Not doing so might cause delays in the processing of the trade and administrative fees. 

  • Send one transfer for one trade as it's not possible to combine several transfers related to one trade. 

  • Send the bank transfer from the account in your name. Spouses' and corporate accounts are considered a 3rd party, even though you may be the owner of such a company, and the transfer will be refunded. In this case, 10 EUR administrative fee will be applied.

Note: All steps in the buy flow for both card and bank trades are absolutely necessary to complete a transaction. Your trades will not be delivered if any of these steps are not completed in a timely manner.

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Published Date = 12/02/2018
Last Updated Date = 20/03/2020
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