KYC Procedures

This guide will explain some of the documents required
to verify a customer’s order.

Why do we need KYC documents?

Bitnomics is committed to the highest security, AML measures, and Know Your Customer procedures as a regulated financial institution. This also helps us keep your account safe, fight fraud, criminal activity and more.

Bitnomics requests from every user to provide a set of documents according to the following levels.

KYC documentation required

There are 3 levels of users, and the documentation depends on the amount they operate.
The documents are general, but our Compliance Department could request additional documents depending on the case.

Level 1
Orders between
€200 - €14999
  • ID / Passport / Driving licence
  • Proof of Identity
  • Live Identity Verification (for non-EU citizens only)
  • Declaration of Crypto purchase
Level 2
Orders between
€15000 - €49999

All documents from level 1 and:

  • Live Identity Verification
  • Source of Funds Form (e-signed)
  • Proof of Source of Funds Document
Level 3
Orders between
€50000 - and up

All documents from levels 1, 2 and:

  • Compliance Video Call
  • Purchase Questionnaire (e-signed)
Proof of Identity
Proof of Address
What is it?
As Proof of Identity, we request a government-issued document that certifies the person's identity.
Type of document
  • Passport
  • National Identity Card
  • Driver's License
  • Resident Permit (with an ID of the country of origin)
  • Temporary Permits if the documents are recognised as an official ID
  • Military Card
  • Social Security Card National Health Card
The document should be valid and not expired.
The document must have the full name, both sides, colour copy.
Approval requirements for all documents:
  • The document should be a colour scan or photo
  • The document should be full size
  • Both sides
What is it?
As Proof of Address, we request an official issued document that certifies the person's current residence.
Type of document
  • Electricity Bill Municipality
  • Water Service
  • Telephone (landline)
  • Internet Service
  • Credit Card Statement
  • Bank Statement
  • Tax Declarations
  • Lease Agreement
  • Mortgage Statement
  • Insurance Agreement or letter (if the object is the residential premises of the person)
No older than 3 months from the date of registration.
The document must have the full name, address (no P.O. Box) and issue date.
Approval requirements for all documents:
  • The document should be a colour scan or photo
  • The document should be full size
  • Both sides.
  • All details should match the account

Some examples of valid documents

Identity Card

Passport or Electricity Bill

Full-colour copy of the documents

Some examples of invalid documents

ID with hidden information

For foreign language bills, we must confirm the name and address

Purchase/rental invoice

Half bill photo

What about the Declaration of Transaction (DOT)?

The following forms are sent to the customer’s email for e-signature. The forms require minimum actions from the customer.

  • Declaration of Transaction
  • Source of Funds Form
  • Purchase Questionnaire
  • Customer Satisfaction Questionnaire

Alternatively, the forms can be signed:

  • Printed and hand signed
  • Scanned or pictured and returned to the Compliance email address from the customer’s email.
  • Signed via PDF
  • PDF signature can only be accepted if provided from the email registered on the client’s account.

How to send the documents?

There are two simple and easy ways to upload documents:
  • The customer must submit the documents from their account using the upload documents option.
  • Email to our Compliance Team: [email protected]

Risk disclosure

You agree that you are free to choose whether or not to use the service provided to you by Bitnomics and that you do so at your sole option, discretion and risk. The exchange of digital currency is considered a risky transaction with highly speculative outcomes. Bitnomics does not guarantee any profit from any activity associated with its services.

  • You agree that you are free to choose whether or not to use the service provided to you by Bitnomics and that you do so at your sole option, discretion and risk. You confirm that you understand and agree that the risks associated with the Services are acceptable by you, taking into account your objectives and financial capabilities.
  • You acknowledge that purchasing or selling Cryptocurrency carry significant risk. Prices can fluctuate on any given day. Because of such fluctuations, Cryptocurrency may gain or lose value at any time. Cryptocurrency may be subject to large swings in value and may even become absolutely worthless. Cryptocurrency trading has special risks not generally shared with official currencies, goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or commodities such as gold or silver, Cryptocurrency is a unique kind of currency, backed by technology and trust. There is no central bank that can take corrective measures to protect the value of Cryptocurrency in a crisis or issue more currency.
  • You should carefully consider if holding digital currency is suitable for you depending on your financial circumstances. Dealing and exchanging in cryptocurrencies involves significant risk. The value of virtual assets / currencies has high volatility (value can increase and decrease significantly in a very short period of time and at any given moment). Such price fluctuations bring uncertainty. The value of a virtual currency and collapse in demand may be influenced by many factors, including irrational (or rational) bubbles, loss of confidence in the currency, changes in software development, government decisions, creation of a competitive currency, technical problems, political or non-political statements, statements of influencers and news and hacker-attacks.
  • Your virtual assets may be lost by losing your password, private key or other security code. Virtual currencies have special risks that are not generally shared with the official currencies, because they are not issued by governments, or with commodities or goods that are tangible or registered in the official registry. Virtual currencies are intangible, decentralized, digital assets, backed by technology and trust. No central bank or other institution can take any measures to protect the value of virtual currency. Virtual currencies are autonomous and largely unregulated system of firms and individuals issuing currencies. The risk of loss in buying, selling or holding virtual assets / currencies can be substantial. You should therefore carefully consider whether exchanging virtual assets is suitable for you in light of your financial condition. Be careful to keep your private keys, passwords, security codes and words for yourself and change them on a regular basis. Bitnomics uses payment providers for transfers of fiat money for rendering exchange services and operating with the fiat money, whereas assisting banks do not, by any means, represent a medium of exchange, transfer, withdrawal, deposit or other transaction in connection to virtual currencies.
  • You acknowledge and agree that Bitnomics does not act as a financial advisor, does not provide investment advice services or guidance, and any communication between you and Bitnomics cannot be considered as an investment advice. Without prejudice to our foregoing obligations, in asking us to enter into any transaction, you represent that you have been solely responsible for making your own independent appraisal and investigations into the risks of the transaction. You represent that you have sufficient knowledge, market sophistication and experience to make your own evaluation of the merits and risks of any transaction and that you received professional advice thereon. We give you no warranty as to the suitability of the Services and assume no fiduciary duty in our relations with you. We may provide information on the price, range, volatility of digital currency and events that have affected the price of digital currency, but this is not considered investment advice and should not be construed as such. Any decision to purchase or sell digital currency is your exclusive decision at your own risk and Bitnomics will not be liable for any loss suffered.
  • To the full extent permitted by the applicable law, you hereby agree to indemnify Bitnomics and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of our website, your use of the service or from your violation of our terms and conditions.
  • Bitnomics is not liable for any price fluctuations in Cryptocurrency. In the event of a market disruption, Bitnomics may, at its discretion and in addition to any other right and remedy, suspend the Services. Bitnomics will not be liable for any loss suffered by you resulting from such action. Following any such event, when Services resume, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
  • Internet transmission risks. Client acknowledges that there are risks associated with using the Software and Services including, but not limited to, the failure of hardware, software, and internet connections. Client acknowledges that the Company shall not be responsible for any communication failures, disruptions, errors, distortions or delays client may experience when using the Software and Services, howsoever caused.