What are the requirements for setting up a custodial account for cryptocurrency investments?

3 answers

• David IngleNov 05, 2022 · 3 years ago
  To open a custodial account for cryptocurrency investments, you will typically need to provide certain documents and information. These may include a valid government-issued ID, such as a passport or driver's license, proof of address, such as a utility bill or bank statement, and in some cases, proof of income or source of funds. Additionally, you may need to complete a Know Your Customer (KYC) process, which involves verifying your identity and complying with anti-money laundering regulations. It's important to check with the specific custodial service or exchange you plan to use, as the requirements may vary.
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• Stefano AriottaMar 03, 2023 · 3 years ago
  Setting up a custodial account for cryptocurrency investments usually requires some paperwork. You'll likely need to provide a copy of your ID, proof of address, and possibly proof of income. The exact requirements can vary depending on the custodial service or exchange you choose. Some platforms may also require you to go through a KYC process to verify your identity and comply with regulations. Make sure to check the specific requirements of the platform you're interested in before opening an account.
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• Ganesh MeruguFeb 06, 2025 · a year ago
  When it comes to setting up a custodial account for cryptocurrency investments, the requirements can vary depending on the platform you choose. However, some common documents and information that may be needed include a valid ID, proof of address, and in some cases, proof of income. It's also important to note that certain platforms may have additional requirements or restrictions, so it's always a good idea to do your research and read the terms and conditions before opening an account. If you're considering using BYDFi, they may have their own specific requirements, so be sure to check their website or contact their support for more information.
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