The Bitfinex verification process is a standardised compliance measure for Anti-Money Laundering (AML), Know Your Customer (KYC), and Counter-Terrorist Financing (CTF) laws and regulations.
What documents are required for corporate account verification on Bitfinex:
- Name and contact information necessary to confirm the identity of the account holder;
- Documents proving your place of residency;
- Identification details ensuring that only you have the confirmation to transact on the said account;
- Financial information for wire transfers and withdrawals from banking institutions (only required for Full level verification);
- Compliance with KYC/AML regulations necessitates the provision of certain information.
In addition, identification information of the corporate members would also be required. Corporate members include:
- Each of the director(s);
- Significant shareholder (owning 20% or more of the company);
- Controlling officer(s).
Important: After completing the corporate verification form, an individual form for each director, significant shareholder(s) and controlling officer(s) must be completed.
Note: The required documents list can be found as a downloadable PDF at the end of this article.
How to verify a corporate account
1. Firstly, navigate to Account > Verification.
2. Then choose your account type Individual or Corporate — in this case, we will select Corporate.
3. Now you will see three levels of verification; the default is Basic, then Intermediate and Full.
Note: You can read more about Verification levels at Bitfinex here.
4. Finally, click on Start Verification to begin the process.
Important: A signed declaration confirming the accuracy of the given information is required before Bitfinex may proceed with the verification procedure.
Note: Verification processing timeframes might take up to one week, depending on the extent of public interest. The account verification process will begin once you have completed all sections. You can read more about verification timeframes here.
Is my account already verified
When you create an account on Bitfinex, your account automatically becomes verified at Basic level, which means that you will be able:
- to deposit and withdraw most listed cryptocurrencies on Bitfinex;
- to make Exchange Trading;
- to access the Bitfinex Over The Counter (OTC) Market.
Important: You must complete additional Bitfinex Verification to Intermediate or Full level if you intend:
- to deposit/withdraw fiat currency (e.g. USD);
- to access Margin Trading and Funding*;
- to utilise utility and stablecoins (e.g. LEO, Tether USDt tokens);
- to access advanced trading options.
- Intermediate verification is required to access Margin Trading, Margin Funding, Bitfinex Borrow, and Lending Pro. This applies to users who created an account after March 1, 2022.
- Basic Plus verification is required for accounts created between January 1st, 2022 and March 1st, 2022.
- Accounts created before these dates will be able to continue without having to upgrade their verification levels.
For further details, please watch our guideline video below.
If you have any questions about your corporate verification, contact Bitfinex support. We are happy to support you through this process!