• Complaints Handling Policy
  • Cookie policy
  • Document verification
  • Exchange regulations
  • KYC and AML company policy
  • Privacy policy
  • Risk Warning
  • User agreement

Buycoin sp. z o. o. guarantees the prudent compliance with laws and regulations related to the principle of know your customer and anti-money laundering, and shall not intentionally violate the know your customer and anti-money laundering policies. Within the scope of our reasonable control, we will take necessary measures and employ technologies to provide our clients with secure services and, to the extent possible, enable you to avoid losses caused by the actions of money laundering individuals suspected of crimes.

Our Know Your Customer and Anti-Money Laundering Policy constitute a comprehensive system of international policies, including the Know Your Customer and Anti-Money Laundering policies of regions subject to various laws to which you belong. Our robust and rule-compliant frameworks ensure compliance with requirements and regulatory standards both locally and globally, ensuring the ongoing operation of this website.

The KYC and anti-money laundering policy is as follows

  • Publishing and regularly updating our KYC and Anti-Money Laundering Policy to meet the relevant standards set by laws and regulations;
  • Publishing and updating certain guidelines and rules for the operation of this Website and the provision of Services by our employees in accordance with these principles and rules;
  • Development and implementation of procedures for internal monitoring and control of transactions, in particular, strict methods of identity verification, allocation and formation of a professional team responsible for anti-money laundering work;
  • Inspection and regular verification of already completed transactions;
  • Informing the competent authorities about suspicious transactions;
  • Identity documents, address and transaction records are retained for at least six years and transferred to the Control and Management department without further notice to you.

Identification information, its verification and confirmation

  1. The content of your information that we collect varies depending on the different provisions of different jurisdictions and different economic entities. Buycoin sp. z o. o. conducts a mandatory verification procedure for its clients, in the process of which it requests documents necessary to confirm the identity (Proof of Identity), confirm the address (Proof of Address). List of documents that are required for the verification procedure:
    For identity verification:
    • an international passport issued by the state;
    • state-issued ID card;
    • state-issued driver’s license;
    • selfie with a document in your hands.
    Address verification:
    • service invoice or bank statement not older than 6 months;
    • paper or electronic versions are accepted;
    Documents for additional verification:
    • photo of a bank card (in special cases, only when making a payment with a debit / credit card);
    • selfie with a bank card (in special cases, only when making a payment with a debit / credit card);
    • photo of a bank card on the background of the personal account of the service;
    • a photo with a printed or handwritten declaration (in special cases for transactions with large amounts);
    • documents confirming the source and origin of fiat funds and / or digital assets.
  2. If you are a company or other legal entity, we collect the following information to verify you or the ultimate beneficiary of a trust account:
    • Certificate of incorporation of the company and registration certificate of the company; copy of the charter and memorandum of the company;detailed certificates and materials explaining the rights of shareholders and ownership of the company, a resolution of the board of directors confirming the decision to create an account on this Website and an authorized principal; documents provided in accordance with the requirements confirming the identity of the directors, major shareholders and authorized signers of the account on this website; the main business address of this company and the address for correspondence in case it is different. If the local address of a company does not match its business address, then it is considered a high risk customer and must provide additional documents.
    • other certificates required by us and the documents issued by competent authorities, as well as the documents that we consider necessary, differ depending on the different provisions of the territories of different jurisdictions and different economic entities.

Buycoin sp. z o. o. will take steps to confirm the authenticity of documents and information provided by Users. Buycoin sp. z o. o. will also verify identity information using secondary sources.

Buycoin sp. z o. o. reserves the right to monitor the User’s data on an ongoing basis, especially when his identification information has been changed or his activity has been deemed suspicious (unusual for a particular User). In addition, Buycoin sp. z o. o. reserves the right to request up-to-date documents from Users, even if they have been authenticated in the past.

Buycoin sp. z o. o. reserves the right to request additional documents for conducting an extended due diligence of the client in the following cases, but is not limited to: suspicion or the existence of reasonable grounds to suspect that the service is being used by customers for criminal purposes; doubts about the reliability of the data provided for verification; the presence of citizenship in states (territories) that: do not fulfill or insufficiently fulfill the recommendations of the Financial Action Task Force on Money Laundering (FATF); not part of the FATF and their partners; blacklisted for financing and supporting terrorist activities.

After confirming the identity of the User, Buycoin sp. z o. o. may refuse to provide the Services to the User in a situation where it is suspected that the Buycoin sp. z o. o. Services are being used to conduct illegal activities.

Buycoin sp. z o. o. uses independent third party companies for the following purposes:

  • verification of the client’s identity by matching his data from an identity document with data from third-party databases.
  • verification of the client’s address and the client’s place of residence;
  • verification of age and other similar characteristics by analyzing documents and access to databases and public information;
  • checking users on lists of politically exposed persons (PEP) and sanctions lists;
  • verification of documents belonging to a specific person by comparing the faces in all submitted images with each other;
  • verification of the authenticity and legality of identity documents;
  • evaluation of the client’s cryptocurrency transactions for compliance with the company’s AML policy.

Buycoin sp. z o. o. does not provide services for opening an account on the service, conducting transactions for the purchase / sale of digital assets to Users who are on any sanction list and / or the list of politically exposed persons (PEP) (according to information received from independent third-party companies).

User identification information will be collected, stored, shared and protected strictly in accordance with Buycoin sp. z o. o. privacy policy and related rules.The user undertakes to notify Buycoin sp. z o. o. about any changes in personal information provided during registration and verification on the Buycoin sp. z o. o. service.

Monitoring and control of transactions

We regularly set and adjust the maximum daily transaction limit and currency direction in accordance with the security circumstances and the actual circumstances of the transaction;In circumstances where multiple transactions of any registered User are concentrated or exceeding reasonable limits, our professional team will evaluate and decide whether to consider them suspicious;

We rate the transaction as suspicious through our own solution; we may take such restrictive measures as suspension of this transaction, refusal to complete this transaction and even, if possible, the earliest possible reversal of this transaction, while we inform the competent authorities, but do not notify you;

According to the AML policy, Buycoin sp. z o. o. will:

  • monitor all transactions. Buycoin sp. z o. o. reserves the right to ensure that reports of suspicious transactions are transmitted to the appropriate law enforcement authorities;
  • request any additional information and documents from the User in case of suspicious transactions;
  • suspend or terminate the execution of orders for the purchase/sale of digital assets by the User, if Buycoin sp. z o. o. has a reasonable suspicion that such a User is involved in illegal activities.

List of prohibited jurisdictions

Buycoin sp. z o. o. does not accept clients and does not provide services for the sale / purchase of digital assets from the following jurisdictions: Afghanistan, Angola, Algeria, Bahamas, Bangladesh, Belarus, Bolivia, Botswana, Burma (Myanmar), Burundi, Cambodia, Central African Republic, Chad, Congo, Conakry, Ivory Coast, Crimea (Ukraine), Cuba, Donetsk (Ukraine), Korean People’s -Democratic Republic (DPRK), Ecuador, Egypt, Equatorial Guinea, Eritrea, Ghana, Guinea-Bissau, Guyana, Iceland, Iran, Iraq, Haiti, Lao People’s Democratic Republic, Lebanon, Libya, Luhansk (Ukraine), Mali, Mongolia, Morocco, Myanmar, Nepal, Nicaragua, North Macedonia, Pakistan, Panama, Qatar, Russian Federation, Saudi Arabia, Somalia, South Sudan, Sudan, Syria, Trinidad and Tobago, Tunisia, Uganda, United States of America, Vanuatu, Venezuela, Vietnam, Yemen, Zimbabwe.

Buycoin sp. z o. o. also does not accept clients from disputed territories, since they do not provide generally recognized official documents, including:

  • Donetsk People’s Republic (DPR) / Luhansk People’s Republic (LPR), Pridnestrovian Moldavian Republic, Nagorno-Karabakh Republic, Republic of Abkhazia, Republic of Somaliland, Republic of South Ossetia, Turkish Republic of Northern Cyprus, Republic of China (Taiwan), Republic of Kosovo, Sahara Arab Democratic Republic, Republic of Artsakh.

These lists can be changed.