First time buyers have to provide their email & mobile phone number, which Indacoin will send a test message or call to verify the identity and upload photo/video of the customer showing his or her passport or driver’s license, as well as the front of his or her bankcard so that the first and last name can be read easily. The first 12 digits of the card number should be covered for security reasons. The limit for the first purchase is set to EUR 500, next transaction could be made in 2 business days, EUR 3,000 limit wil be applied.

If the amount of funds deposited in/withdrawn from an account every month exceeds EUR 10,000, Indacoin may request the account user to provide some additional information, including answers to the questions about how he or she developed an interest in bitcoins, the purpose of his or her transactions, his or her trading strategy, the user’s biography, and the origins of the funds operated on Indacoin, including documentary evidence (e.g., a bank statement showing the receipt of a salary, a contract for the sale of an interest in a business, etc.)