What do the levels represent, and how can I increase my limit?

At Bitnovo, "levels" refer to the different degrees of account verification, directly associated with operation limits. These levels exist to comply with security regulations and anti-money laundering measures.

Why do levels and limits exist?

It's a standard practice in the financial and cryptocurrency industry to:

• Regulatory Compliance: Adhere to Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CTF) laws.
• User Security: Protect your account and funds from fraudulent activities.

Overview of levels:

• Basic Level:

  • Requirement: Create your account with email and password, and complete KYC verification.
  • Limit: Up to €5,000 in buy or sell operations.

• Intermediate Level:

  • Requirement: Submit proof of residence.
  • Limit: Up to €15,000 in buy, sell, send, and receive operations.

• Advanced Level:

  • Requirement: Provide additional documentation justifying the origin of your funds (Proof of Funds - PoF) if your transactions exceed certain thresholds.
  • Limit: Offers the highest available limits, variable according to transaction volume.

How can I increase my limit and advance my level?

To increase your limits and advance your level, the process involves providing more information or performing additional verifications. You can start this process from your account:

1. Log in to your Bitnovo account.
2. Go to the "Increase Limits" section.
3. Click on "Increase Limit" or "Upgrade Level". The system will indicate which documents you need to provide (e.g., proof of residence, source of funds).
4. Submit the documents/information clearly and legibly.
5. Wait for review: Our team will review the information. We'll notify you when your level has been updated and your new limits are active.

Important:

• Check your current limits: You can always see your specific limits in your Bitnovo account, in your profile or limits section.
• Privacy: All information you provide is treated with maximum confidentiality and under strict security protocols (GDPR).

By advancing your level, you gain greater flexibility and contribute to the security and integrity of the Bitnovo ecosystem.