At Coinstash, we prioritise Trust and Compliance. KYC — Know Your Customer — is the standard identity verification process that helps us keep the platform secure for every investor. This article explains why we ask for it, what you'll need, and how to get verified quickly.
Why is KYC necessary?
As a registered Australian exchange, we must comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth). These regulations are designed to prevent financial crime and ensure a safer digital asset ecosystem for everyone. Learn more in Is Coinstash a registered cryptocurrency exchange?
What you'll need
Your legal name, date of birth and residential address
A clear photo of a current government-issued ID, such as a Driver's Licence or Passport
A selfie, so we can match your face to your ID
Make sure the details you enter match your ID exactly. New to Coinstash? See How to Create a Coinstash Account (Mobile App).
How the process works
Initiation: You will be prompted via the app or email to complete your verification.
Information submission: You'll be asked to provide basic details and a clear photo of a government-issued ID (such as a Driver's Licence or Passport).
Review: Our Brisbane-based team will carefully review your documents.
Approval: Once confirmed, any temporary restrictions will be lifted, and your account will regain full functionality.
How KYC relates to your tier
Identity verification is the first step. It takes your account to Tier 1, which unlocks AUD deposits and withdrawals. Higher tiers ask for a little more — such as a selfie Face Match, Proof of Address or a Source of Funds/Wealth Declaration — in exchange for higher daily limits. See What are Account Verification Tiers?
Account flagging and security
If your account is flagged for verification, please don't be alarmed — this is often an automated part of our robust internal controls.
Temporary restrictions: While we verify your details, you may notice temporary limits on withdrawing crypto or AUD. This is a standard safeguard to protect your funds.
Confidentiality: Your data is treated with the highest level of security and is only used to meet our regulatory obligations.
⚠️ Stay safe: Only complete verification inside the Coinstash app or website, or via a link from our team. Coinstash staff will never ask you to move your crypto. Learn how to spot a scam.
Helpful tips for a quick verification
Ensure your ID is current (not expired).
Take your photos in a well-lit room to avoid glare or blurriness.
Make sure all four corners of your ID are visible in the photo.
Enter your details exactly as they appear on your ID.
Troubleshooting
My ID photo keeps getting rejected. Retake it on a flat, plain surface in good light, with no glare and all four corners in frame.
My withdrawals are temporarily restricted. This usually means we need to verify something on your account. Check the app and your email for a verification request and complete it — restrictions are lifted once it's confirmed.
I'm having trouble uploading my ID. If you have questions about the documents required or can't upload your ID, our local support team is here to help via the in-app chat.
Need a hand? Our Brisbane-based support team is here to help — tap the chat icon in the app or on the website to get in touch.