Why do I need to verify my identity?
When you want to buy Bitcoin with credit card or debit card instantly, it’s important to verify your identity.
This is because most governments see Bitcoin and other cryptocurrencies as money or a digital asset. This has resulted in a series of regulations that cryptocurrency exchanges need to abide by:
- Similar to banks, Paybis requires customers to go through a KYC (Know Your Customer) or ID verification process to confirm the ownership of the customer’s credit/debit card.
- The good news is that the verification process is straightforward and, on average, it only takes 3 minutes to complete. You simply need to upload your government ID (passport, ID card or driving license) in good quality to ensure that our automated system can process and approve it.