CoinByte may occasionally ask you to complete Enhanced Due Diligence (EDD) to help protect your funds and comply with AML/CTF and sanctions regulations. EDD helps us understand your Source of Funds (SOF) and Source of Wealth (SOW) and prevents account misuse.
EDD is not a penalty. It is a standard compliance check used across regulated crypto and financial platforms to keep users and the platform safe.
Why we may ask for EDD
- Regulatory compliance — We must meet AML/CTF and sanctions requirements.
- Account & platform security — Detect and prevent fraud, money laundering, and sanctions evasion.
- Transparency of funds — Verify the legitimacy and origin of funds to reduce limitations or delays.
When EDD might be required (examples)
- Unusual activity: rapid volume growth, frequent deposits/withdrawals, or behavior that deviates from history.
- Nature of funds: salary, business income, investment returns, sale of assets, inheritance/gifts/grants, external/unhosted wallet, transfers from other exchanges, crypto mining, gambling winnings, loans/credit, government benefits, legal settlements.
- On-/off-chain risk signals: flagged addresses, mixers/bridges, or third-party compliance/banking feedback.
- Compliance & sanctions: high-risk jurisdictions, PEP screening, sanctions or adverse media.
- Profile changes/reviews: material updates to personal details, devices, or withdrawal purposes.
This list is not exhaustive. If we need more information, you will see an in-app prompt guiding you to submit documents.
What documents are typically requested
We’ll ask for supporting documents based on the source category you select.
- Salary: recent payslips, bank statement showing salary deposits, employment/HR letter.
- Business ownership: company bank statements, tax documents, accountant letter, distribution records, invoices + payment proofs.
- Investment returns: broker/fund statements, dividend/distribution records, related bank deposits.
- Sale of assets (non-digital): sale/settlement documents, title/transfer records, bank receipt of proceeds.
- Inheritance/grant/gift: will/probate/grant letter, executor/solicitor letter, bank receipt.
- Other exchanges / external wallet: account statements or CSV/XLSX exports, on-chain TxIDs & addresses, ownership proof.
- Crypto mining: mining payouts, equipment/hosting invoices, related deposits.
- Gambling winnings: licensed operator payout statement, bank receipt, license proof if requested.
- Loan or credit: loan agreement, disbursement proof, repayment schedule.
- Government benefits: award/approval letter, payment statement, bank receipt.
- Legal settlements: settlement agreement/court order, law firm letter, bank receipt.
Documents should be clear and legible and show your name, dates, amounts, and traceable references. Accepted formats are shown in-app (e.g., JPG/PNG/MP4/CSV/XLSX).
How to submit your EDD documents
- From the in-app banner or prompt, tap Submit.
- Select your Source of Funds category.
- Choose a document type and upload the file(s).
- Review and Submit. You will see a status page (We’re on it).
- Open Profile > Verification.
- Find the Additional verification (EDD) section and click Submit.
- Select a category, choose a document type, and upload your files.
- Submit and track your status on the review page.
What happens next
- Your case moves under review. If more information is needed, you’ll see clear issues and a Resubmit button.
- Once approved, related feature restrictions (e.g., trading/deposits/withdrawals) will be lifted.
- Your information is protected by encryption, least-privilege access, and audit logging in line with our Privacy Policy.
Need help?
- Live Chat
- Email: [email protected]