Do I need to verify my profile as a Merchant?

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Quick Answer

Merchant profile verification is necessary in order to access SpectroCoin services. Merchants can access the complete package of SpectroCoin services, including bank transfers and linked cards. Also, after verification every business owner can use SpectroCoin blockchain wallet, cryptocurrency exchange services, integration tools, libraries, bitcoin API, or merchant projects.

Verifying a Merchant profile:

  • For a merchant profile to be verified, it needs to be classified as "Business". That can only be done during the registration process. If you don’t have a SpectroCoin account yet, click "Sign up" and fill in the registration form. When filling in the registration form, please choose "Business" as your account type.

  • After submitting the form, you will receive a confirmation email. Please note that the confirmation email might go to your Spam/Junk box. Once you receive the email, click on the link and complete your registration.

  • You will need to upload the following documents:

    • Certified document confirming that the person is entitled to represent the Company;
    • Certified copy of the Certificate of Incorporation;
    • Certified copy of the Memorandum & Articles of Association;
    • Certified copy of the Register of the Company’s shareholder(s) (in case one of the shareholders is a legal entity/legal arrangement, ownership structure up to the ultimate beneficial owner shall be provided).

Please note that we only accept documents certified by a Notary Public (i. e., the document has to be certified as a true copy of the original) or properly legalized with an Apostille.

SpectroCoin users need to be aware that the bitcoin merchant account verification process might take up to 24 business hours (3 business days) after all documents have been uploaded. To avoid any delay, it is necessary that all documents submitted comply with the requirements. In some cases, SpectroCoin’s compliance team might require supplementary documents.

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