Purchasing cryptocurrency is easier than ever, but one crucial step stands between you and your digital assets: identity verification. Whether you're a first-time buyer or expanding your portfolio, understanding the verification process ensures a smooth, secure experience. This guide dives deep into the most common questions about identity verification through MoonPay, the trusted payment service provider used by leading crypto platforms.
From document requirements to speeding up approval, we’ll walk you through every stage—helping you stay compliant, avoid delays, and get back to what matters: growing your crypto journey.
Why Is Identity Verification Required?
Before you can buy cryptocurrency, you’ll typically need to verify your identity. This isn’t just a platform rule—it’s a global regulatory requirement.
To comply with Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Know Your Customer (KYC) laws, all reputable crypto service providers must confirm user identities. These measures protect both users and financial systems from fraud, illicit activity, and unauthorized access.
MoonPay enforces these standards to ensure safe and legal transactions. By verifying your identity, you're not only meeting legal obligations—you're also securing your own financial activity in the digital space.
👉 Learn how fast and secure identity verification can get you closer to your first crypto purchase.
How Long Does Identity Verification Take?
Most identity verifications are processed within minutes to a few hours. Thanks to automated systems, many users complete the process almost instantly.
However, in some cases—such as when documents are unclear, expired, or don’t meet requirements—manual review may be needed. This can extend processing time up to 2–3 business days.
You’ll receive an email notification if additional steps are required or if there’s an issue with your submission. To avoid delays, ensure all documents are clear, valid, and match the requested format.
How Can I Speed Up My Verification?
The fastest way to get verified is to submit accurate, high-quality documents on the first try. Here’s how:
- Use a government-issued photo ID (passport, driver’s license, or national ID card).
- Ensure your ID is valid for at least three more months.
- Take photos in good lighting with no glare or shadows.
- Capture all corners of the document clearly.
- Avoid filters, edits, or blurry images.
Following these simple tips dramatically increases your chances of instant approval.
Understanding Transaction Limits
Cryptocurrency platforms often impose transaction limits based on your verification level. These limits depend on several factors:
- Your geographic location
- Payment method used
- Verification status
- Purchase history
New users typically start with lower limits. As you complete more verifications and build trust with the system, these limits increase.
How to Increase Your Transaction Limit
Want to buy more cryptocurrency? The process is straightforward.
Simply attempt a transaction larger than your current limit. The system will prompt you to submit additional documentation—such as proof of address or income—to support the higher amount.
Once your documents are verified, your limit will be raised automatically, and your transaction will proceed.
This tiered approach keeps the ecosystem secure while allowing flexibility for serious investors.
How Do I Verify My Identity?
When you initiate a crypto purchase, MoonPay will guide you through identity verification. You’ll need to provide:
- A government-issued photo ID (e.g., passport, driver’s license)
- A clear selfie holding your ID
Accepted documents include:
- Passport
- Driver’s license
- National identity card
Make sure:
- The document is valid and unexpired
- All information is legible
- No parts are cropped or obscured
A short video walkthrough is often provided during checkout to guide you step-by-step through the upload process.
How to Verify Your Residential Address
You may be asked to verify where you live. Accepted proof of address documents include:
- Utility bills (electricity, water, gas)
- Bank or credit card statements
- Government-issued letters
- Lease agreements
Not accepted:
- Mobile phone bills
- Handwritten letters
- Temporary accommodation documents
Your document must:
- Be issued within the last 90 days
- Show your full name and current address
- Come from an official institution
Uploading outdated or ineligible documents is a common reason for delays—double-check before submitting.
👉 Discover how simple address verification can unlock higher purchase limits today.
What Is Proof of Income or Source of Funds?
Regulators require platforms to confirm that funds used for crypto purchases come from legitimate sources. This is known as a source of funds check.
You may be asked to provide evidence showing where your money originated. Common acceptable sources include:
- Salary or employment income
- Dividends or investment returns
- Business profits
- Savings accounts
- Pension disbursements
- Cryptocurrency trading or mining earnings
- Inheritance or gifts
- Sale of property, company shares, or other assets
- Gambling or gaming winnings (with proper documentation)
This step helps prevent money laundering and ensures compliance across borders.
How to Submit Proof of Income
If requested, you’ll need to upload documents such as:
- Recent pay stubs
- Tax returns
- Bank statements showing deposits
- Investment portfolio summaries
- Legal documents for inheritances or gifts
Ensure all documents are clear, recent, and show your name and the relevant financial activity.
While this may seem intrusive, it's a standard practice in global finance—and essential for maintaining trust in decentralized ecosystems.
Why Did My Card Verification Fail?
Common reasons for card verification failure include:
- Mismatched name on card and account
- Expired or canceled card
- Insufficient funds for small authorization charge
- Virtual card not supported by issuer
- Incorrect billing address
Double-check all details before retrying. If issues persist, contact support or try a different payment method.
How to Verify Your Payment Card
When making a purchase, MoonPay may send an email with instructions to verify your card via:
- A small temporary charge (usually under $1) that you confirm.
- Uploading a photo of the card (front only, with last four digits visible) and a selfie holding it.
For Apple Pay, Google Pay, and Samsung Pay users, similar steps apply—but require additional images:
Apple Pay Verification:
- Photo of the physical card linked to Apple Pay
- Selfie holding that same card
Google Pay & Samsung Pay:
Same requirements—clear image of the physical card and a selfie holding it.
Always ensure your device wallet reflects the correct card details before starting.
Can I Use a Virtual Credit Card?
Yes—but with conditions.
During checkout, you may be asked to upload a screenshot of your bank statement showing the pending MoonPay charge. This confirms ownership of the virtual card.
Ensure the screenshot includes:
- Your name
- Card number (last four digits visible)
- Pending transaction from MoonPay
Not all virtual cards are accepted, especially those from non-bank issuers.
What If My ID Is Expired?
An expired ID will not be accepted. Your document must have at least three months of validity remaining.
For example: If today is January 1st, your ID must not expire before April 1st.
Temporary IDs—like emergency passports, replacement slips, or provisional licenses—are also not accepted. You must obtain a permanent, valid ID before proceeding.
I Don’t Have My Bank Card Right Now—Can I Still Verify?
Unfortunately, no. If you can’t access your physical card during verification (especially for Apple Pay or manual uploads), MoonPay cannot approve the transaction.
Wait until you have the card available, then restart the purchase process.
FAQ: Quick Answers to Common Questions
Q: Do I need to verify every time I buy crypto?
A: No. Once verified, your status remains active unless there’s suspicious activity or policy changes.
Q: Is my personal data safe during verification?
A: Yes. MoonPay uses bank-level encryption and strict privacy protocols to protect your information.
Q: Can I use someone else’s card to buy crypto?
A: No. The cardholder’s name must match the verified identity on file.
Q: Why do I need proof of income for large purchases?
A: It’s a legal requirement to prevent illicit fund flows and maintain financial integrity.
Q: How long does proof of address stay valid?
A: Typically 90 days. After that, you may need to resubmit if requested.
Q: Can I skip verification if I’m buying a small amount?
A: Some platforms allow limited purchases without full KYC—but most require at least basic verification even for small trades.
👉 See how easy it is to complete full verification and start buying crypto without limits.
By understanding these steps and preparing the right documents in advance, you can enjoy a seamless path into cryptocurrency ownership—securely and compliantly. Stay informed, stay verified, and keep moving forward in your digital finance journey.