KYC Question about income

Hello

I got this message from support and i dont know if i understand it right:

“Please can you provide further documentation showing evidence of source of income? We need to check the period of time for the purchase of the ETN shown on your wallet.“

Does this mean i have to proof my income (salary) for the time since i started buying electroneum (since 2018)?

Or do i have to show how exactly the ETNs landet in my wallet with all transactions from bank account to exchanges to wallet?

I have a problem with getting my passport accepted. I dont know why etn is doing this., If you want a global currency why do you do some things

I think you need to send a bank statement showing the amount you invested at the time. Having said that I did that and mine was rejected.

If only I was asked to provide all this before depositing ETN into the wallet I woudnt be so stressed.

To put it simply, you need to show how you funded the purchase of the ETN that went into your wallet… whatever time period that was. So if you purchased some BTC then sent to exchange and purchased the ETN, you would likely need to show documentation from start to finish.

Anti money laundering laws quite simply require businesses to show they have verified that large or abnormal purchases were funded by the person and not a third party.

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So, it is not enough if i show them my payslips during that time which should be proof enough that i can easely buy that amount of ETN i have in my wallet?

To document the whole way how it ended up in my wallet is almost impossible und would be very time consuming. I bought a lot of my ETN on cryptopia so i cant show them how it went trough there. And the rest i bought via different exchanges. I dont even remember all the different ways.

As i said, you need to prove you had the means and made the purchase. So if your payslips show you earning relevant amounts and then making those purchases on exchanges, that would be what I would submit :+1:

If you cant submit parts due to factors like exchanges closing, just explain that. The team will do what they can to work with you on getting verified. They certainly want people to be successful (and not submitting multiple times!!).

Think about it logically, put yourself in their shoes and submit what fits.

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But when you upload the documents you can only send one file. So how are you supposed to explain any differences to them? I sent a whole load of stuff to support and they told me to use the upload facility in my account, and wouldn’t pass the documents and explanation on to the KYC verifier.
Plus they never tell you what they want. I got asked for ‘source of funds’. No info on from when, what or anything. They just leave you guessing, which inevitably leads to rejected documents time and again.

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you can open a support ticket and upload as many documents as you want.

but yes, you are right. they only say you have to provide more information. but never what information exactly. would be nice if they would give clear instructions so everybody understands it.

the worst thing is, if you ask something in the support ticket you have to wait for an answer a few weeks. so this can take forever…

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Thanks. I will try to provide more information to the support. :+1:t2:

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I had a support ticket open that’s the point. I was told to send all the docs again via the app. that they wouldn’t pass on.

I have the same here ETN is rejecting evrything. Is like they trick us. I hope someone makes a youtube interviewing mister ells about this. truly how is he going help africa with this nonsense. Cause i know he is only helping himself now

Some of us have used, other crypto to buy. I haves my coins for longer then 5 years. I bought btc and with my btc etn. Do need to show where i got those btc from 5 years ago. While living in africa. It seems like people cannot save money to buy what they want.

Hypothetical question. If I sent a family member 15,000 ETN at ALT for some personal work they have done for me, or as a gift, and then value of ETN rose to 1 Euro, meaning they have 15,000 Euros worth of ETN in their wallet, how could they prove their source of funds to clear KYC Level 3 if they were unemployed?

I uploaded a statement showing several crypto purchases at Binance. But the statement doesn’t show that I transfered USDT from Binance to Kucoin which is where I bought ETN and then sent it to the ETN wallet in Jan where it’s locked up.

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