Kriptomat’s EDD (Enhanced Due Diligence)

Kriptomat is a government-licensed and regulated company that follows strict AML (Anti Money Laundering) and CTF (Counter-terrorist financing) procedures to protect Kriptomat’s users and the business.

It is a way to ensure an extremely safe environment for all parties involved.

An EDD is a standard check that is performed by Kriptomat’s Compliance and Risk team.

Once a user exceeds the threshold of EUR 15,000.00 in deposits, Kriptomat is required to do this one-time additional check to help Kriptomat better understand their background and the nature of their relationship with Kriptomat.

You will be contacted by a representative from Kriptomat’s Compliance team who will guide you through the process.

If you plan to deposit more than 15,000.00 EUR you can contact Kriptomat and provide them with the information and supporting documentation in advance.

Go to Kriptomat’s Official Website

What do I need to provide?

1. Source of funds

You need to clearly state the source of your funds and submit evidence to support your statement. Choose one of the following options:

  • A bank account statement clearly indicating your income (wages).
  • Employment contracts.
  • Investment contracts and declarations.
  • Balance of funds in checking and savings accounts.
2. Proof of residence

Choose one of the following options:

  • Utility bill (except for mobile phone)
  • The electricity bill
  • The bank account statement
  • Tax return/council tax

What happens to my deposit? Where is my money?

If the EDD check was initiated because you made a deposit, your deposit will be on hold during the check, but no later than 5 days from the day Kriptomat first contacts you.

What if I don’t approve the EDD check or don’t want to share the information?

If you don’t clear the check, Kriptomat won’t be able to accept your deposits. All your pending deposits will be declined and the funds will be sent to the original (source) bank account. Each return of funds may incur additional transaction fees.

Users who do not pass the EDD check will be required to completely empty their wallets to zero balance and their user account will be deactivated.

Go to Kriptomat’s Official Website