Once customers reach a high trading volume on our platform, we ask for a “Proof of Residence”, hereafter PoR. 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.
A PoR can for instance be requested once a total volume (buy + sell) has reached 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 PoR. This verification can also be requested if your nationality differs from the nationality of the used bank account.
SATOS can always ask for a proof of residence regardless of the situation. This way we do not only protect ourselves, but also our customers and the general opinion regarding cryptocurrencies as well.
What do I have to hand in?
A PoR is an official document that states your current name and address. A letter from the government or bank sent to your current address are official documents, for instance. Your monthly newsletter from Vogue is not considered as an official document.
Please note the following when uploading your proof of residence:
Always try to take a photo of a hard copy (invoice or letter received by post);
Document must not be older than 3 months (after last order);
Your full name and address are shown on the document;
All corners of the document must be clearly visible;
The entire document must be legible.
We accept various documents as proof of registration, below we have listed some examples:
Photo of recent utility bill (gas, water, electricity);
Photo of bank statement or letter from bank;
Photo of bill or agreement of rent or mortgage;
Photo of landline phone bill, cable TV;
Photo of letter from the tax authorities.
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.
The law requires us to check your personal data and to 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.