Verifying your source of funds

- If you want to buy more than $25,000 of cryptocurrency in total, or more than $10,000 per day, then we will need you to verify your source of AUD.

- If you want to sell cryptocurrency worth more than $25,000 in total, we need to verify your source of cryptocurrency.

Here are some examples of sources of funds set out below. If you have a source of funds that isn’t included here, just get in touch and we can help you out.

Verifying your source of AUD

Sources of funds Examples of evidence
Employment (e.g. salary, wages etc)      
  •          Copies of payslip/s
  •          Bank statement with source of income and/or showing regular payments from employer
  •          Personal tax statement
Long term savings
  •          Bank statement/s, or
  •          Term deposit statement
Gifts
  •          Letter from Solicitor
  •          Statutory declaration from the giftor
Rental income
  •          Tenancy agreement
  •          Bank statements showing regular rent payment from tenant
Sale of property
  •          Sale and purchase agreement
  •          Letter from solicitor/accountant
Sale of Shares
  •          Contract note
Loan drawdown
  •          Loan agreement
  •          Loan statement
Inheritance
  •          Letter from solicitor
  •          Will and probate
Running your own business
  •          Copies of latest audited company accounts
  •          Bank statements showing sources of business revenue
  •          Personal tax summary

Verifying your source of cryptocurrency

If you bought your cryptocurrency through us originally, no worries! Nothing further required. You’ll be able to sell the same amount back to us, no matter what the value has changed to. E.g. if you bought 3 BTC from us and 10 XRP you can sell back 3 BTC and 10 XRP regardless of how high they moon. If you received your cryptocurrency somewhere else, you’ll need to provide us with evidence to show where this has come from. Applications will be considered on a case-by-case basis, and we can’t provide any guarantees on what will be accepted or not. However, we can provide some guidance on the types of things we ask for:
Sources of cryptocurrency Examples of evidence
Purchased on an offshore exchange • Bank statements showing your AUD withdrawals out to that exchange
  • Exchange account history showing your AUD deposits being received (e.g. as USD)
  • Exchange trading history showing your USD:BTC/other transactions
  • Exchange balance if the cryptocurrency is still there OR exchange withdrawal records and current wallet address
    		•
    Purchased through localbitcoins • Bank statements showing your AUD payment to a localbitcoins seller
  • Localbitcoins account history showing your transaction
  • Localbitcoins balance if the cryptocurrency is still there OR withdrawal records and current wallet address
    		•
    Purchased on another Australian exchange • Bank statements showing your withdrawals to that exchange
  • Exchange account history showing your AUD deposits being received
  • Exchange trading history showing your AUD:BTC/other transactions
  • Exchange balance if the cryptocurrency is still there OR exchange withdrawal records and current wallet address
    		•
    The cryptocurrency was mined •  Your coins have no previous transaction history
  • Your coins are labelled as "Newly Generated Coins' on their respective blockchain explorer
  • All you will need to do is send us a link to the transaction on the explorer and let us know the circumstances - we will be able to work it out from there.
    		•

    For other cases, the type of questions we might ask are:

    • Where is the cryptocurrency now? Provide addresses for the current wallet(s)
    • How did it get there? Past blockchain history showing movements to get there
    • How did you get it? Records of your trading history and bank history supporting

    For any questions, or to discuss your specific situation, just get in touch and we can help you out.