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- Laurence Newman
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A verified Coinmama account is key if you want tobuy Bitcoin. But what if you’re already verified for a Level 1 Coinmama account, have bought Bitcoin or other cryptocurrency, and now you want to buy more?
First, congratulations! We’re excited for you that you’re the proud owner of cryptocurrency. You’re not only a part of the Coinmama family, you’re also a part of the financial revolution, which is no small feat.
What is a Level 1 Coinmama account?
When youcomplete the Coinmama verification processand are approved for purchase, you’ll automatically have a Level 1 account. This will allow you to buy and sell cryptocurrency with a credit card or bank transfer.
The good news is that a Level 1 Coinmama account will allow you to buy Bitcoin up to a fairly high amount. In most of the areas we serve, overall account limits for Level 1 are 15,000 USD, with daily limits of 5,000 USD for credit card transactions and 12,000 USD for bank account transactions.
If you want to buy even more Bitcoin, Ethereum, or other cryptocurrency, you’ll need to upgrade your account verification to Level 2. This will increase your overall account limit as well as your daily transaction limits. So how do you get verified for Level 2?
How to get verified for a Level 2 Coinmama account
You’ll be able to get verified for a Level 2 account as you approach the top of your Level 1 account limits.
To get verified for Level 2, you’ll need the following:
A government-issued ID that’s different from the one used for Level 1 verification, from an area we serve. This can be a passport, driver’s license, or non-driver’s national ID card. Users from the United States can upload a passport for Level 2 verification.
A utility bill in your own name for a service that’s tied to your home address (such as electricity, gas, or water), and which is no more than six months old.
The KYCq questionaire filled out and signed.
Instructions for Level 2 verification:
Log into your Coinmama account
Follow the prompts to upload your second ID. You’ll need to upload both the front and back of your ID card, or if you’re uploading your passport, both the top and bottom of the personal information page. Make sure the text and photo are fully legible, and that all four corners of your ID are visible.
Upload your utility bill. As Coinmama is only active in certain countries and territories, we need to know you’re from an area we serve. A recent utility bill serves as a proof of residence. You must scan the entire front page of the bill with all four sides showing, or upload an electronic PDF. Screenshots of utility bills cannot be accepted.
Upload your KYCq questionaire filled out and signed.
Once you’ve uploaded all of your documents, submit them to have your application reviewed. The review usually takes only a few minutes, but you may be asked to upload additional documentation, so keep an eye on your email.
You’re officially on your way to Level 2 verification!
Laurence, Co-founder of Coinmama, is a serial-entrepreneur, who has been involved with Bitcoin since 2013. After struggling to buy Bitcoin himself, he set out on a mission to make the process of buying Bitcoin an easy one for all, and so Coinmama was born.
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Laurence, Co-founder of Coinmama, is a serial-entrepreneur, who has been involved with Bitcoin since 2013. After struggling to buy Bitcoin himself, he set out on a mission to make the process of buying Bitcoin an easy one for all, and so Coinmama was born.
All Posts »
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