Why?

Once customers reach a high trading volume on our platform, we ask for a “Proof of Wealth”, hereafter PoW. Although this measure has been taken to avoid fraud, we think it is important to note that requesting a PoW does not mean that we see you as, for example, a fraudster. We appreciate you as a loyal customer, but we have been given a joint responsibility to keep the crypto ecosystem safe through laws and regulations.

When?

A PoW can for instance be requested once a total volume (buy + sell) has exceeded over €50.000,-. As a rule of thumb: The larger the transactions and risks, the more likely the chance that we will request for a PoW.

SATOS can always ask for a PoW regardless of the situation, at which point all transactions may be subjected to the verification or only a specific time frame. This way we do not only protect ourselves, but also our customers and the general opinion regarding cryptocurrencies as well.

What do you have to provide?

What we require is entirely based on your own buying and selling pattern on our platform, which includes all the transactions you have placed since your first order on our platform until now. For example, if you have only sold to us, then we require documents that show that you have bought them elsewhere or mined your coins.

Not sure what your total volume is? Feel free to contact our support staff, they will be happy to help you to complete it as quickly as possible.

When uploading your proof of wealth, please note the following:

  • The documents need to be in line with your behaviour;

  • All corners of the document must be clearly visible;

  • The entire document must be legible.

There are different types of documents that can be used as proof of wealth, we have listed some examples below:

  • Notary deed of the sale of a house;

  • Proof of salary;

  • Financial Statements;

  • Income tax return;

  • Evidence of profits from investments;

  • Evidence of a gift or inheritance received.

In need of help?

Do not fret, our support employees are at your service! Every day between 10:00 and 18:00, they will do their best to make this verification process as simple and clear as possible for you. So feel free to contact us in the live chat at the bottom right of this page. We are here to get you through this verification.

Privacy declaration

The law requires us to check your personal data and store it securely. In our privacy statement we explain how we handle your personal data: which ones we collect and what we use them for. We also explain how you can view, change or delete your data. We think it is important that you are well informed about this and recommend that you read this statement carefully.

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