Verification FAQ

How can I change my email address?

To update your account email address, kindly reach out to our support team via email at [e-mail]. We're here to assist you.

How can I verify my personal account?

To verify your personal account and begin using Swapin services, follow these steps:

1. Access Verification Levels: Log in to your Swapin account and navigate to the verification section.

2. Choose Your Level: Swapin offers three verification levels: Starter, Full, and Full+. We recommend starting with the minimum level available to you, and you can always upgrade later.

3. Complete Verification: Follow the instructions provided for your chosen verification level to submit the required documentation and information.

For detailed information about each verification level, please refer to the Complete KYC Guide

Why do I need to verify my account?

Completing KYC (Know Your Customer) and KYB (Know Your Business) verification on Swapin is essential for several reasons:

1. Compliance: Swapin is an EU-licensed service provider and strictly adheres to financial regulations and anti-money laundering (AML) laws. These regulations mandate cryptocurrency platforms to verify the identity of their customers, helping to prevent illegal activities like money laundering and fraud and ensuring the platform operates within legal boundaries.

2. Seamless Transactions: Both Swapin and banks are required to follow compliance rules to execute transactions smoothly without delays. Providing KYC and KYB information is necessary to ensure seamless transactions.

3. Higher Transaction Limits: Individual accounts verified as Full and Full+ have higher transaction limits compared to Starter Level. For business accounts, transaction limits are set based on the provided financial information.

4. Trust: Verification builds trust with the platform and other customers. It demonstrates your commitment to using the service responsibly and ethically, fostering a trustworthy environment within the cryptocurrency community.

Overall, verification is a necessary step to protect both users and the cryptocurrency platform, ensuring a safe and compliant experience in the crypto financial space.

How can I change my name, nationality, or place of residence?

Once your Swapin account is verified, you cannot change your name, nationality, or place of residence directly, as this information is derived from your ID or passport. To update your legal name or country of residence, you must provide an updated ID document. If you change your country of residence, you need to upload a valid ID from your new country of residence. The preferred documents for these updates are your passport, ID card, or residence permit.

How to get verified as a business on Swapin App?

If you're a business owner looking to utilize Swapin products for buying, selling, or paying with cryptocurrency, along with other Swapin solutions, you must sign up as a business on the Swapin App and complete your account verification, which includes KYB (Know Your Business). KYB procedures are crucial to ensure that businesses involved in crypto-related activities adhere to legal and regulatory requirements. KYB entails the collection and verification of documents and information about a business, such as its registration details, ownership structure, and the nature of its operations. This process guarantees that businesses utilizing cryptocurrencies within Swapin services operate transparently and in compliance with the law.

For detailed information about the business verification steps and setting up the account, please refer to the Complete KYB Guide

What is the 5th EU Anti-Money Laundering Directive (AML5) and how does it affect me?

In compliance with the new EU regulation (AML5) implemented on January 10th, 2020, Swapin and all other cryptocurrency companies are mandated to adhere to specific transparency standards. This includes disclosing the beneficial owners of the company in a publicly accessible national registry. To ensure compliance and verify the legitimacy of our customers, we kindly request that you provide your ID for both your personal account and, if applicable, for your business account as a managing director or authorized agent of a company. This information will be used solely for compliance purposes and to uphold regulatory requirements.

Why do I need to submit a selfie?

ensure safety and compliance, every Swapin user undergoes validation. When signing up, we use your selfie data to verify your identity by matching it with your official documents, such as a passport. This extra step adds security to your account, helping to prevent identity theft and fraud. Rest assured, all selfie data is encrypted and stored securely, ensuring that only you have access to your financial information and services.

What documents are accepted for ID verification?

Swapin accepts only government-issued photo identification (e.g., ID cards or passports) for verification purposes. These documents help us verify your identity and ensure compliance with regulatory requirements.

What if I don’t have a valid ID or a Passport?

To verify your account, ensure your ID or Passport is valid. If it's expired, you won't be able to proceed. Simply take a new photo of your valid ID proof and submit it again. Make sure the front page of the document is clearly visible for successful verification.

How to Verify Your Address on Swapin?

To maintain a secure and trustworthy environment for all our customers, we request specific documents for the verification process. If you're applying for Full or Full+ verification, proof of address is required. You can read more from the Address Verification page.

How to Provide Source of Funds Information on Swapin?

As part of our verification process known as KYC (Know Your Customer), we ask customers to provide a source of funds document. This document helps us ensure the legitimacy of your funds and maintain a secure and compliant transaction process. For detailed information about the topic please refer to the Source of Funds article.

Why is my account verification rejected or delayed?

At times, our compliance team may require additional documents to finalize your account verification, which could potentially cause a delay. Please ensure to regularly check both your inbox and spam/junk folder for any communication from our team.

It's important to note that for legal reasons or if the necessary documentation is lacking, our compliance team reserves the right to reject your verification. If you encounter any issues during the verification process, please feel free to reach out to our support team at [e-mail] for assistance.