How to verify your trade and start receiving cryptocurrency payments

Tiempo de lectura: 2 minutos

To start receiving cryptocurrency payments in your merchant, it is important to perform the verification of your merchant (KYB) in Bitnovo Pay. Verification is a necessary process to ensure safety and comply with all legal requirements.

Here’s how to verify your merchant and start receiving cryptocurrency payments:

1. Start the Verification Process: Once you have created your Bitnovo Pay merchant, you will be prompted to perform verification.

2. Complete the Verification Form: Be sure to provide accurate and up-to-date information about your company, including name, address, contact information and other requested details. This form will be reviewed by the Bitnovo Pay team.

Verification Times: Once you have submitted the verification form and accepted the general terms of engagement, the review process can take between 24 and 72 hours. In some cases, the Bitnovo team may request additional information if deemed necessary to complete the verification. Stay tuned for any communication to your email.

4. Beneficial Ownership or Beneficial Ownership Requirements (UBO’s): During the verification process, you may be asked for information about the beneficial owners or beneficial owners of your company. This refers to individuals who own more than 25% of the company’s shares or participations, or who exercise significant control over the company. Details about the company’s executives and managers may also be required.

5. Verification Documents: In some cases, you will be asked for documents to support the information provided during verification. These documents may include proof of company registration, beneficial owner identifications, bank statements or other relevant documents. Make sure you have these documents ready and available for uploading as directed.

6. Exceptions and Updates: It is important to note that there are exceptions to the identification of beneficial owners, such as in the case of companies listed on a regulated market that comply with the appropriate reporting requirements. In addition, if there are any changes to the information provided during verification, you will need to update the data provided to Bitnovo Pay.

Once your merchant has been successfully verified, you are ready to start receiving cryptocurrency payments. Configure the payment options in your online store and follow the instructions provided by Bitnovo Pay to integrate the payment gateway into your platform. From that moment on, you will be able to enjoy the benefits of receiving payments.

If you have any questions you can contact the support team:

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