New KYC guide COSS.IO
This guide serves as a checklist before submitting your documents.
The KYC application has four components:
Proof of Identity
Proof of Address (full page only, cannot be half page)
The data fields you input in COSS website itself
Below you will find the requirements for each component:
Proof of Identity
We only accept Passports and Government Issued IDs with a photo. We recommend International passports, as opposed to some Government Issued IDs, because they contain all the data fields we require.
These are the fields that MUST be present for a valid proof of identity:
Date of Birth
Date of Expiry (Must be more than six months from the date of submission)
Proof of Address
Proof of Address
We only accept the following as a proof of address:
Bank Statements no older than 3 months since the date of issue (most preferred)
Utility Bills (water/gas/electricity) no older than 3 months since the date of issue (most preferred)
A tax assessment no older than 1 year since the date of issue
Tenancy contracts issued within 1 year stating the legal name of the customer, a residential address, a date of issue, and lastly, your signature alongside the landlord’s signature
Government Correspondence (subject to our satisfaction)
Please do NOT submit internet OR mobile/landline phone bills (No telecommunication bills of any kind).
We do not accept any handwritten documents.
Screenshots/Print screens will also not be accepted. You can or take a photo of these documents, or ask for an electronic PDF version instead.
These documents have to be submitted in FULL page; cropped documents will be rejected.
Latin Characters are allowed as long as your Proof of Address specifies your name, legal residential address, and date of issue.
Tax assessments, tenancy contracts and letters from recognized public authorities need to be translated into English.
You can censor your bank account number and your balance.
Here is another example:
1) Your head must face the camera directly with full face in view
2) You must have a neutral facial expression or a natural smile, with both eyes open
3) Taken in clothing that you normally wear on a daily basis
4) Taken within the last 6 months
5) Use a plain white or off-white background
6) Taken with your proof of identity AND a piece of paper that clearly shows your name, date, and COSS.io written on it.
The following illustrations show the correct example and some unacceptable examples.
We accept JPG, GIF, PNG, TIFF or PDF formats. Please try to keep the file size below 1 MB.
Data Fields in COSS.io KYC section
Be careful when inputting your information into the KYC section of our COSS.io website.
As long as the information matches word for word as what is reflected in your Proof of Identity or Proof of Address document, you are good to go.
IF your identification documents (Passport / Government issued Photo-IDs) contain any alias (e.g., John Doe AKA JD), then you should have “JD’ in the Alias field. Otherwise, if you DO NOT have an alias, please leave it empty.
You are required to fill in your full address. We have to have the exact matching details for your verification.
Your KYC documents will be subjected to assessment by our Compliance team who will at its own discretion either approve or reject your application.
In the event of rejection, we will make efforts to reach out to you stating the reason for rejection and suggest ways to amend your application.
We will continue to onboard new users from the US.
Until FATCA is implemented, you will still be able to trade Crypto to Crypto on COSS.IO.
You will still be subjected to mandatory KYC according to the new guidelines.
By the US, we mean US citizens AND US residents. If you are a US citizen or resident, you will not be able to trade FIAT until FATCA reporting is fully implemented.
Once FATCA is implemented, the option to trade FIAT will be open to you, and no new submission of documents will be required.
Please see the table below for a quick summary and reference: