Just as how the wild west came to its end in the closing years of the 19th century, the wild years of crypto without KYC and other regulations are unfortunately coming to an end as well. With increasing influence from governments and banks there was only one choice left; KYC or cease to exist as a legitimate business.
SATOS has agreed with the demands; we just love crypto so much, but we also know that there is an increasing amount of malicious groups that, with their behaviour, put crypto in a bad light. That is why we always give 100% to keep you as a customer safe, but also your data as all verification documents are held offline in encrypted systems. Your safety is our happiness.
SATOS is doing its part in keeping crypto safe and in a good light, will you join us? Together we are responsible for taking care of the crypto-ecosystem, the one thing we both love so much! How you can play your part will be explained further down.
How does our process work?
We think it is incredibly important that you can always purchase and sell coins at your desired rate. We believe that it would be a great shame if you miss your desired rate due to for instance waiting on the assessment of your verification. Hence, we have designed our ordering process in such a way that you can always place your order without having to wait. Even if a previous order has yet to be verified you can place an additional order. Is your verification completed? Then we will process your order in most cases.
Thus, instead of having to wait till your verification is completed and missing out on your prices, we ask it afterwards so that you do not miss out on the desired rate. After payment we immediately convert your money into coins or coins into money. This way you are guaranteed of the correct rates.
Level 1 (Up to €50.000,-): Hodler
Since half may 2020, SATOS has become more responsible for verifying all bank account holders that place orders with us. That is why current and new customers are required to verify themselves after placing their order with us. We will briefly ask you to go through our introduction form in which you will be asked to upload a copy of your identity document. Besides the copy of your ID, we ask you to briefly answer three questions and complete an introduction video. In some cases you can be asked to complete a verification of your bank account.
These tasks will show up on your personal transaction page and you shall be notified of it by mail.
I have a business bank account, is that allowed?
Of course it is! You are very welcome to place an order. Just like private customers, we are required by law to verify your identity and your business. If it is a Dutch business, you can easily request an extract from the chamber of commerce.
What if the nationality of my bank account differs from my own nationality?
Once again, no problem at all! All bank accounts that belong to the European Union including N26 and Revolut are welcome on our platform. We do have to ask for a proof of residence to see if everything checks out. A recent bank statement is sufficient in most cases.
Level 2 (Starting €50.000,-): Whale
Whether you are very active with crypto or you are cashing out the investment of the century, we will do our best to process all your large orders as soon as possible! If you have exceeded a total volume (buy + sell) of €50.000,- you will receive a message requesting for a tad more information however. We have unconditional appreciation for you as a customer, but higher volumes means higher risks and the government is not too keen on high risks. Hence, we have to ask to further verify yourself through a proof of residence and a proof of wealth. Not because we want to know everything about you - although you can always talk to support employees if there is something - but because we are still responsible for protecting the crypto-ecosystem, remember?
Whether you have been in crypto for years or you are just getting started, everytime you buy or sell crypto and you use an unknown address, we are required by the lawmakers to verify that this wallet is owned by you. This goes both for our Hodlers and Whales. If you shall purchase with us, you shall be asked for a proof of ownership. If you shall sell with us, you shall be asked for a proof of withdrawal.