Since the whole world is talking about Bitcoin, Ripple, Ether and all kinds of other cryptocurrencies that are at your disposal, I decided to write a short article on how to get verified on one of the more recognized exchanges. I don’t consider myself a crypto-guru, but reading this may help people who decided to start trading with cryptocurrencies to make their first baby steps.
I am using Bitstamp for more than a year now and had to go through the verification process the same as everyone else. However, I got lucky to get onboard the “crypto train” before the 2017 “big bang” so I got my account verified much faster. But I still have to confess that it wasn’t so simple, mainly because I was sloppy and just didn’t care about the guidelines, consequently resulting in multiple denied requests. Which is why I decided to write a short tutorial on how to get verified on Bitstamp.
First and foremost, I strongly suggest that you follow the guidelines as it will increase your chances on getting your account verified faster. As you may know, if your verification request gets denied, you will have to go to the back of the line and wait again. And believe me, you don’t want to do that.
So let us begin. Basically, all you will need is a valid ID document, a proof of residence document, a smartphone, tablet or a camera, a registered account and lots of nerves. Click register in the top right corner of the website and the following form will appear.
Simply enter your credentials and click “Register”. You will the following message with further instructions.
Never ever disclose your customer ID and your password to anyone!
Once logged into your newly created account, will have to go to the “Verify Account” tab and then “Identity Verification” on the left-hand side of your screen, choose “Personal” and proceed.
As your identity document, submit a high-quality, color photograph taken with your smartphone, tablet or camera, of your ID document, for example, your International passport (double page), Driver’s license or National identity card (both sides). Make sure that the whole ID document and its content are entirely visible and there is no flash glare or obscured information. Of course, do not forget to double check whether your ID document is not expired.
In case your ID document doesn’t have an expiry date, just enter any date in the future and everything will be fine (all least I did that and everything was fine).
NOTE to all Americans. Remember that the Europeans write their dates differently - as DD/MM/YY.
And now the tricky part, the infamous proof of residence document. First thing is first - ID documents with addresses written on them are not considered as a valid proof of residence document.
The easiest way is to submit a utility bill (electricity, gas, fixed internet, etc.), bank statement, tax return or other documents addressed to YOUR name. You may hide any information that you do not wish to share with them, however, make sure that your full name, address, and date of issue are visible.
In case you do not have such documents at your disposal, simply call your municipality or local authority and request a government-issued certificate of residence.
Whether you ponder the people checking your submitted documents will have a hard time figuring out what you sent, simply highlight the information you think will help them understand the document faster (especially if the document is not in English). Oh and in case you come from a country such as China, Japan or any other “exotic” destination as I do, you will have to submit a notarised English translation of the document.
And two last things: 1.) documents older than 3 months, and 2.) documents addressed to PO boxes are not acceptable. So keep that in mind.
Don’t forget to answer the FATCA questions. And especially pay attention when choosing either United States as your “Country” or as your “Nationality” as you may not be able to proceed.
I can’t point out on how important it is that all the relevant information is clearly visible and that you do not submit potato photos. Take your time and try your best to make a high-quality photo. Also, double check if you really entered the fields correctly and that you really attach the right files (heard that people accidentally send random photos from their weddings).
If you encounter problems with submitting the documentation, I warmly suggest you first try to resolve the issue by yourself before contacting their support. Check whether your internet connection is ok, check if the size of the files isn’t too big and most importantly, wait for the files to upload.
And now the hardest part - the waiting. I am sure you are aware that everybody wants to get rich so you probably heard that there is a longer than usual waiting line for the verification. Don’t open unnecessary support tickets as it will not help you get verified faster. Keep in mind that some exchanges even closed their doors for the time being, because they couldn’t handle the mass of people. And who can blame them?
Remember, if you follow the simple guidelines their verification department will verify your account as soon as possible. Be patient, and read any crypto related articles on the internet in the meantime so you will be prepared when you receive the email confirming that you (hopefully) got verified.
I know they aren’t the fastest exchange but I still am fully convinced that they are a reliable and all-around user-friendly platform. I wish you all happy trading and do not forget to enable your two-factor authentication (2FA).