Buying Bitcoins with Card Payment from Coinify's New Trade Platform
Posted by Coinify on 19 December 2016 10:24 AM
As of today Coinify Traders will be able to access our new Trade Platform and you can learn all about it here.
If you have traded with Coinfy before December 19th, you will notice that now your email address and password will be requested to log in. As opposed to before when you logged in with your user name.
If, on the contrary this is your first time trading with us, you can sign up for a Trade account with your email, password and country of residence.
Make Your Order
Once you have logged in, you will see the available options on the left menu. Buy bitcoin is the first one. Click on it and you will be ready to place your first order.
Enter the amount you want to buy, one of our supported currencies from the drop down menu (EUR, USD, DKK, GBP) and you will get the equivalent in Bitcoin. Once you have chosen the desired amount, click on Continue.
Now select your method of payment: Orders can be made with Credit/Debit card or Bank Transfers.
We will describe now how the pay with Card flow looks like, if you are interested in placing a Bank order, please go to Buy Bitcoins with Bank Transfer
Once you have selected the Card payment option, click on Continue. Verify your order details, enter the Bitcoin address you want the bitcoins to be delivered to and agree to the conversion terms* by ticking the box on the left. Notice that up until now you have the option to Cancel the order. Confirm to continue with the transaction and be redirected to the payment provider, iSignthis.
*NB! Be aware that Bitcoin will be traded at the current available market rate at the time Coinify processes my order which might differ from the rate displayed now. Coinify guarantees the exchange rate for 15 minutes.
Here you will have to enter the Payment details: Name, Last Name, Card Billing Address, Card Number, CVV, Expiration Date. Be very careful and check that everything is correct. You have the option to Store card for later use by ticking the box on the left, in case you want to use the same card for future transaction. Click on Process Card.
3D Secure Verification
You will be redirected to the 3D Secure verification window where you will have to enter the code sent to your phone via SMS. Once you have done this, click on confirm.
Phone Number Registration
The following step is to Register your phone number which is very important as each buy order you make in the future using a credit card will need to be authenticated.
Enter your phone number in the designated field and press Send Passcode. Please, be patient and allow a bit of time, typically 1 to 3 minutes for the SMS to be delivered. Enter the passcode you have received via SMS. Click on Register Phone.
Be aware that if you press Send Passcode 3 times without entering a passcode your registration will be declined.
Once the total amount of your previous orders reaches €2000 you will be asked to upload verification documents which are required under Government Anti Money Laundering regulations. Click on Upload Document or use the Drag and drop option to upload a document you have already stored on your computer or smartphone. Bear in mind that in case of being scanned documents or image like files, they need to be of high quality and legible. Once the file is uploaded, click on Next to complete the process.
Document verification is handled by our Compliance Department and takes approximately 48hs hours depending on how busy they are.
Until the documents are uploaded and all steps from the registration/authentication completed the transaction stays in a pending status and bitcoins can be sent only once the whole process is closed, the documents reviewed and approved by our compliance team.
If the process is not closed and the full procedure completed within 72 business hours from the time the order has been created,the order expires and an automatic refund is issued and sent back to the customer's account. Note it might take a few more days for the refund to show on your bank account.