VERIFICATION

Verification is mandatory since we are obliged to comply with the Measures Against Money Laundering Act; therefore, we have to identify all our clients, both natural and legal persons.

Individual verification

The verification of natural persons takes place through an automated solution, which you can access via the Verification menu in your account dashboard. The procedure takes just a couple of minutes and as part of it, you have to provide a government-issued document (ID card or Passport), a selfie in real time, and answer a short questionnaire. You can pass the KYC procedure using a PC, a laptop or a mobile device. After you have gone through all the steps, in a few minutes you will receive a notification that your account has been verified or that you have to retake a certain step in case there was an issue with the information you provided.

Corporate verification

The verification of legal persons (corporate verification) requires more information as well as the individual verification of a personal account, created by the company's Director. If you plan on passing our corporate KYC procedure, please contact us at [email protected].

As soon as you pass our KYC procedure successfully, you will be able to avail yourselves of:

• The highest number of payment options for sale and purchase of crypto in Bulgaria;
• The best commission for crypto purchase using Cashterminal (1%);
• The possibility to buy crypto using phyre, A1 wallet or Pay by Vivacom without a deposit fee exclusively on xChange.bg;
• An alternative payout method (in Bulgarian leva) for crypto sale (please feel free to contact us if you are interested);
• A bonus program, which combines loyalty and referral programs;
• Automated sell and buy orders of 5 cryptocurrencies and 2 stablecoins.

The reasons for an unsuccessful completion of our KYC procedure might be the following:

Related to your ID document:

Not all corners of your document are visible;

Your identity document has expired and is no longer valid;

You are uploading a selfie while holding your ID/Passport instead of a picture of the document itself;

The quality or resolution of the images is poor;

You see the recycle bin icon on top of the pictures you have uploaded and you think that there is a problem with them so you don't move on to the next step of the procedure.

The option to delete allows you to remove the document you have uploaded in case you have attached the wrong file. If you have taken a picture of the correct document, you don't have to do anything else as part of this step and you can freely move on to the next one.

Related to the selfie you take in real time:

• You aren't looking directly at the camera;
• You aren't following the instructions to get closer to the camera.