Why do we ask you to complete identity verification?

Why we ask you to verify your identity?

As a registered  financial institution, we are obliged to know who our customers are in accordance with European law. 

This is the reason why we ask our customers to verify their identity by providing the ID, passport or driving license. 

Personal information and how we store it?

We collect, process and store the personal data for the following purposes:

• To maintain identity verification-principles in accordance with legislation
• To provide Coinify’s services and enforce our terms in our user agreement and other agreements
  
  

You can find more information on the above personal information collection here under “Privacy Policy”.

We protect your personal information by maintaining physical, electronic, and procedural safeguards in compliance with the applicable laws and regulations.

When your information is transferred over the internet, SSL encryption is used to ensure your sensitive data is not accessible to anyone on the internet.The data that is communicated back and forth between Coinify and your computer is encrypted with a 256-bit SSL certificate.

This means no one can intercept the data stream between Coinify and your device.

Whom do we share your information with?

Your personal data will be accessed only by those employees at Coinify who really need to – and only when it is necessary – in order for them to perform their tasks and duties. Furthermore, we only share your data with third parties who have a legitimate purpose for accessing it and with the appropriate legal basis. 

Note that Coinify will never sell or rent out your personal information.

A list of 3rd party institutions we might share your information with can be found here under "Privacy Policy".

How can you request to have your personal information deleted in accordance with GDPR?

As a Coinify customer you have the right to choose to terminate your account upon request.

Please note that Coinify cannot delete your account upon request instantly, but rather to disable it for a period of 5 years, until it can be deleted. This is for accounting purposes and in accordance with the Danish law on accounting § 10. Likewise, Coinify accounts inactive for the past 5 years will be automatically disabled and deleted.