Verifying your source of funds

  • If you want to buy more than R150 000.00 of cryptocurrency per month you need to verify your source of ZAR. (Note: you get a R150 000.00 limit in your first month, just to get you started!)
  • If you want to buy privacy coins like Monero and Dash, you need to verify your source of ZAR.
  • If you want to sell cryptocurrency worth more than R150 000.00 in total, you need to verify your source of cryptocurrency.

Some examples of sources of funds are 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 cryptocurrency

If you bought your cryptocurrency through us originally, great! 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 got 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 ZAR withdrawals out to that exchange
  • Exchange account history showing your ZAR 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 ZAR 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 a SA exchange
  • Bank statements showing your withdrawals to that exchange
  • Exchange account history showing your ZAR deposits being received
  • Exchange trading history showing your ZAR/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.