This content is for educational purposes only and is not financial advice. bunq doesn't give trading advice. Always do your own research or consult a qualified financial advisor before making any investment decisions. Cryptocurrency investments come with risks, including the potential loss of the principal invested. Prices can fluctuate significantly. bunq Crypto is powered by our partner Kraken.

KYC (Know Your Customer) is the identity verification process financial platforms use before you can buy, sell, or withdraw cryptocurrency at scale. It helps prevent fraud, money laundering, and unauthorized account access, and it's required by law for regulated services in the EU and most major markets.

What KYC usually involves

You'll typically provide:

Personal details. Name, date of birth, address, and nationality.

Identity document. Passport or national ID, verified with a photo or video selfie.

Proof of address. Sometimes a utility bill or bank statement, depending on limits and jurisdiction.

Verification can take minutes or a few days. Once approved, higher deposit, withdrawal, and trading limits usually apply.

Why KYC matters for your security

KYC protects you as well as the platform. If someone tries to open an account in your name, verification steps make that harder. It also means the service operating your exchange account is accountable to regulators, a baseline for trust when handling real money and crypto.

KYC at bunq

When you enable bunq Crypto or investments, you'll complete identity checks as part of your bunq account setup or feature activation. One verified profile covers banking and investing, so you can move from euros in your Bank Account to crypto without repeating the process on a separate platform.

Learn more about secure banking at bunq.

Frequently asked questions

Can I buy crypto without KYC?

Some unregulated services allow limited activity without verification. Regulated platforms like bunq require KYC for full access, it's a sign of compliance, not an optional extra.

Is my KYC data safe?

Regulated providers must handle personal data under strict privacy laws (like GDPR in the EU). bunq follows banking-grade security standards for customer information.

What if my verification fails?

Common causes include blurry photos or mismatched details. Support can usually guide you through resubmission, check the app for status and next steps.