At Bity, we are compliant with Swiss regulation frameworks aiming to prevent money laundering. That is why the team follows proper know-your-customer (KYC) procedures. Therefore, we must ask for specific documentation depending the volume you wish to buy, sell or swap. See our account levels here for more details.
NOTE: If you want to BUY, SELL or SWAP Cryptos, you can do that up to 5,000 CHF per day with only your email and phone. For higher amounts, you need to get verified.
Just check the steps below to know how to get verified:
Provide us your phone number and your email address! Your phone number is also used to add a security layer to your account.
Go to the tab “My Info” and click the “Complete my profile” button.
Your Quota Limit is Standard, this means that you can buy, sell or swap cryptos up to 5,000 CHF per day / 100,000 CHF per year
To increase your limits, you will need to upload and get the following documents verified:
When all the documents have been verified and accepted, you will be able to execute orders up to 5'000 CHF daily:
If we need to have a video chat with you, the video chat option will be unlocked, otherwise, we do not need it:
Upload a copy of a valid ID card (front and back) or passport. Please note that driving licenses, residency permits or expired documents are not accepted. The ID should include an MRZ code, which looks like this:
You can then choose the type of document you want to add. In this case, ID or passport.
Upload a recent personal photo (like a selfie) of yourself in addition to the copy of your ID. The personal photo submitted must be taken during the KYC process, a clear and close photo of you, and not uploaded anywhere else on the Internet.
Upload a proof of residence to your account. Such evidence can be a utility bill (Landline telephone, Internet connection, gas, water, electricity). It must not be older than three months and show the issue date, your name and address.
Fill in the Registration Form and submit it.
Fill in Beneficial owner form and submit it.
As soon as we receive all the documents and verify them, provided that you have successfully paid a buy order with your personal bank account and that the bank account holder's name corresponds to your account, we will upgrade your account to the Advanced level and you will be able to execute orders up to 100,000 CHF yearly (no daily limit anymore).