Why identity verification is required
Verification is a legal obligation for South African crypto asset service providers.
Cryolynx must verify who its customers are. This is a regulatory obligation under South African anti-money-laundering law, not an internal policy choice, and it applies to every customer before they can hold or move funds.
What this means for you
- You verify once, before you can deposit, trade, earn or withdraw.
- Your registered name must match your identity document.
- Deposits and withdrawals may ask you to declare the source or destination of funds. See the Travel Rule questionnaire.
What we do with your documents
Verification is carried out by a specialist identity provider on our behalf. Your documents are used to confirm your identity and to meet our record-keeping obligations. We do not sell them and we do not use them for marketing.
Ready to start? See how to verify your identity.
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Related
- How to verify your identity Complete verification from your profile page with an ID document and a selfie.
- Which documents are accepted Government-issued photo ID, plus what makes a submission fail.
- What "under review" means Your submission is being checked. Here is what to expect while you wait.
- Why you are signed out after verification passes Approval upgrades your account permissions, and those only take effect on a fresh sign-in.
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