Knowledgebase: FAQ
Account Levels Daily Limits and Fees for buying/selling Bitcoin
Posted by Coinify on 23 January 2017 03:36 PM

Coinify Trade has 3 trade levels each with its own limits and requirements to upgrade the account.

Levels:

Level one is the initial level. All new traders are Level one by default.

 

Level 1:
Buy Bitcoin with card: minimum €10 - maximum €300/2000 DKK daily
Buy Bitcoin with Bank order: this level does not allow to buy Bitcoin with bank transfer.
Sell Bitcoin with Bank order: up to €1000 a year

 

To advance to level 2 you need to go through a verification process and uploading verification documents. Start by creating a Bank buy order for any amount on our platform and the system will ask and show you how to upload the documents. The verification process is handled by our compliance team and can take up to 24hs depending on how busy they are. This first order will not show in your Order/Trade History as it is not an actual order but a document upload.
Once you are approved, you will be level 2 and can start trading with the following limits:

Level 2:
Buy Bitcoin with card: minimum €10 - maximum €300/2000 DKK daily
Buy bitcoin with Bank transfer: minimum €50 - maximum €1000 daily
Sell Bitcoin with Bank order: minimum €10 - maximum €10,000 daily

 

Advancing to Level 3 will only increase your buy order limit for bank transfers, no changes on sell or card orders. To upgrade you account you will have to reach a total of at least €1,000 bank (buy OR sell) orders completed and wait 14 days security delay.

Level3:

Buy Bitcoin with card: minimum €10 - maximum €300/2000 DKK daily
Buy bitcoin with Bank transfer: minimum €50 - maximum €10,000 daily
Sell Bitcoin with Bank order: minimum €10 - maximum €10,000 daily

NB!: Please note that the daily limit is calculated per 24 hrs. I.e if you have reached your daily limit at 17:00 in the afternoon, you will have to wait until next day 17:00 to be able to trade again.

Fees:

 

Buy Bitcoin with card: 3% Payment Fee
Buy/Sell Bitcoin with Bank order - No Fees

 

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