Coinmama’s account verification process helps us keep our customers safe, fight fraud on the blockchain, and allows us to comply with local regulations. Verification is something any legitimate cryptocurrency vendor or exchange will require from its users before they let them purchase BTC online, and Coinmama is no different. In this article, we’ll discuss why we verify your account and how to get verified to invest in cryptocurrency today.
Why we verify Coinmama user accounts
The process of verification requires users to prove their identity by providing their personal details, scans of their ID cards, and a photo of them holding that ID. This is requested for several reasons:
Cryptocurrency may not be government-backed tender, but it’s still currency. Coinmama is held to many of the same standards and regulations as any other financial service. So just like you need to prove your identity when opening a bank account, you need to do so before you can buy, sell or trade Ethereum, Bitcoin or other cryptocurrencies with Coinmama.
There are, unfortunately, many scam artists in the world of cryptocurrency. This is in part because Bitcoin is a relatively new currency that many people don’t fully understand, in part because people often see Bitcoin as a way to “get rich quick,” and in part because of the perceived anonymity of cryptocurrency. Put those three things together, and it’s easy to see why scam artists use cryptocurrency to prey on unsuspecting users. For that reason, at Coinmama we want to make sure that when you buy Bitcoin online, it’s something you’re really intending to do. We ask you for your identification and also for a photo of yourself holding that ID as an extra measure of protection for you: if someone has stolen your ID, they won’t be able to open an account without also providing a selfie photograph showing that they match the ID. And if you’re being taken advantage of by a scammer, we hope the process of providing an ID as well as a photo holding it to signal your intent, will also trigger you to think carefully about your actions. After all, Macy’s never asked you for a selfie.
We want to know you’re really you! See #2 above. Having an uploaded image of your ID along with a photograph of you holding that ID protects you from identity theft and prevents someone else from impersonating you.
What is Coinmama Level 1 verification?
At Coinmama, we have different account levels, which allow you to buy increasing amounts of cryptocurrency. Account levels are determined by the amount of personal information you provide. New users will upload documents to receive Level 1 verification, and as they approach their account spending limits, they’ll be invited to upload documents for a Level 2 account.
How to get verified to buy Bitcoin online
Getting verified for a Coinmama account is a simple process if you have all the necessary equipment. Before you start, make sure you have the following:
Your government-issued photo ID such as your passport or driver’s license. Note that US customers may only use a driver’s license or non-driver’s ID card for level 1 verification.
A piece of paper on which you’ve handwritten “Coinmama” and today’s date
A cell phone with a working camera.
First, create your account.
Head to Coinmama’s sign-up page to create your account. Fill in your first and last name, email address, and country of residence to get started. You’ll receive an email from us with a link to confirm your account. Click the link to start the verification process.
Next, add your personal details.
Complete the requested form, adding your address, phone number, and date of birth.
Finally, upload your documents.
Choose the ID type you want to upload, based on your country of residence. Photograph the front and back with your cell phone camera, making sure all four corners are visible, and that both the image and text are clear, then upload them to your account.
Next, write “Coinmama” and today’s date on a piece of paper. Holding the paper and the ID you’ve just uploaded, take a photograph of yourself. Make sure your face, ID, and paper note are all clearly visible. Then upload the photo to your account.
Once your documents are uploaded, click to submit them. A member of our verification team will review your form and documents, and if everything looks ok, you’ll be approved to buy Bitcoin online with Coinmama, often in as little as fifteen minutes.