Covering how to become verified with CoinJar to enable deposits and currency conversion.
In order to make full use of CoinJar's currency exchange and bank transfer features, we first need to verify your identity. This procedure is in place to minimise the risks of fraud, identity theft, and money laundering.
An update on ID verification timeframes
Up until recently, we've typically advised a 1-3 business day turnaround time for identity documents to be reviewed by our Security Team - with the majority of submissions being reviewed within 24 hours. Due to a recent sharp increase of CoinJar members looking to buy and sell bitcoin, the demand for ID verification has increased significantly, which has led to some longer-than-expected wait times.
ID verification itself is a government regulated process,
To accomodate these recent changes in submission volumes, we're now dedicating a sizeable portion of our growing team solely to ID verification. We're confident we'll be able to offer our typical turnaround times for ID verification again in the near future. In the meantime, thank you for your patience as we continue to review all ID verification applications as quickly as possible.
- CoinJar Team
Benefits of completing ID verification
Not verified (default)
- Fully functional bitcoin wallet for sending, receiving, and storing bitcoin for convenience.
- Access to Hedged Accounts.
ID verification completed
The above Hedged Account and bitcoin wallet features, as well as:
- Being able to transfer Australian dollars to and from your CoinJar.
- The ability to convert funds between bitcoin and Australian dollars (buying/selling).
- Being able to order and use CoinJar Swipe.
CoinJar is a globally-accessible bitcoin wallet, so sending, receiving and storing bitcoin are unrestricted features of our service. However, if you are looking to make deposits or withdrawals from your bank account, or convert currency, this is something that right now we are only able to offer to CoinJar members with Australian bank accounts.
Required verification documents
To begin your identity verification, please visit CoinJar's secure Identity Portal. You will be prompted to provide two separate documents - a proof of identity, and a proof of address.
Proof of identity
A Class A government-issued photo ID document showing your full name, expiry date and your date of birth. The document should:
- Be current (i.e. not expired).
- Be in full colour.
- Not be cropped or obscured in any way.
For ID cards, we require a photograph/scan of the front and back of the proof of identity document.
- Driver's License (issued by the state government).
- Australian Passport (issued by the Federal government) / Foreign Passport.
Other accepted documents
- Firearms License (issued by the state government).
- 18+ Card/Proof of Age Card (issued by the state government).
Proof of address
A statement showing your full name and current residential address. The document should:
- Have a visible 'issued date' within the past 90 days.
- Be addressed to you and physically sent to your current residential address.
- Not be addressed to a PO box. We may accept a statement sent to a PO box providing the residential address is also listed clearly on the statement (such as with utilities bills).
- Not be an ID card, but a statement that proves your current residential address. Please refer to the list below for details on accepted documents.
If you're unable to provide a statement meeting the above conditions, your local bank branch should be able to provide you with a printed account statement including your full name and residential address.
- Utility bills
- Bank statements
- Notice of assessment statements
- PAYG statements
- Drivers Licence Registration statements that do not include a visible 'issued date'.
- Invoices for purchases/deliveries
- Handwritten statements
Typically, manual review for ID documents is completed within three business days, however during busy periods this process can take a little longer to complete. If you have any questions regarding your ID verification, please contact our Support Team.
- Your identification documents must be either scanned or photographed at high resolution in a well-lit environment, then uploaded separately under the appropriate category. The maximum file size is 5 MB.
- We require ID images to be either JPEG or PNG files. PDF files cannot be accepted at this time.
- ID documents must not be cropped - we require full sized scans or photographs of the documents in their entirety.
- We encourage CoinJar members to watermark their ID documents for security purposes, providing the watermark does not obscure any of the elements described above, or any other vital details. We may reject watermarked images at our discretion.
- If your documents are not in English, we will require a second version of each submitted document that has been translated into English.
Updated: 13 Oct 2017 (AS)
Reviewed: 15 Nov 2017 (AS)