Hey guys,
I’m considering using BitPay for some of my crypto transactions and I want to make sure I understand their requirements fully. Does BitPay require KYC (Know Your Customer) verification for users? If so, what does the process entail?
I’ve heard mixed information about this and would appreciate any insights from those who have experience with BitPay. TIA…
BitPay does require KYC (Know Your Customer) verification for certain users, particularly those who wish to use their platform for business purposes or transactions above certain thresholds. The KYC process typically involves providing personal information such as your full name, address, date of birth, and sometimes additional documentation like a government-issued ID or proof of address. This verification helps BitPay comply with regulatory requirements and prevents fraud and money laundering. For personal use or smaller transactions, the KYC requirements may be less stringent or not required at all, but it’s best to check BitPay’s current policies or contact their support for specific details based on your planned usage.