Trading Limits and Verification Tiers

Amplify is dedicated to seeing the proliferation of cryptocurrency and allowing our clients to trade effectively is key in that progression. At the same time, we are committed to adhering to the current legal landscape globally to ensure our longevity within the cryptocurrency space.  Below you will find some guidelines on how we allocate trading limits for various levels of clients. Feel free to reach out to us for more information if you have any questions. 

AML/KYC Tiers: 

Amplify employs a policy consistent with industry standards for Know Your Customer (KYC) verification and Anti Money Laundering (AML) scans. Our KYC/AML policy is primarily what dictates your trading limits. The chart below illustrates various tiers associated with our compliance process and policies. If you wish to review or increase your current limits, please log in, and review the Verification Status section of your Profile under Account Settings by clicking the icon in the upper left corner.

Tier 

Information Collected 

Daily Crypto Withdraw Limit 

Daily Fiat Withdraw Limit 

Monthly Crypto Withdraw Limit 

Monthly Fiat Withdraw Limit 

Tier 0: Customers residing in Restricted Countries or who have failed our Tier 1 AML compliance 

First Name, Last Name, Email Address, Country of Origin 

$0 

$0  

$0  

$0  

 

 

 

 

 

 

Tier 

Information Collected 

Daily Crypto Withdraw Limit 

Daily Fiat Withdraw Limit 

Monthly Crypto Withdraw Limit 

Monthly Fiat Withdraw Limit 

Tier 1: Entry level traders. Customers have passed our AML compliance, but not completed KYC. 

First Name, Last Name, Email Address, Country of Origin 

$5,000  

$0  

$150,000  

$0  

 

 

 

 

 

 

Tier 

Information Collected 

Daily Crypto Withdraw Limit 

Daily Fiat Withdraw Limit 

Monthly Crypto Withdraw Limit 

Monthly Fiat Withdraw Limit 

Tier 2: Customers who have completed KYC and passed our AML Compliance 

First Name, Last Name, Email Address, Country of Origin, Phone Number, Proof of Address, Government Issued ID 

$100,000  

$100,000  

$3,000,000  

$1,000,000  

 

 

 

 

 

 

Tier 

Information Collected 

Daily Crypto Withdraw Limit 

Daily Fiat Withdraw Limit 

Monthly Crypto Withdraw Limit 

Monthly Fiat Withdraw Limit 

Tier 3: Corporate and Institutional Clients 

First Name, Last Name, Email Address, Country of Origin, Phone Number, Proof of Address, Government Issued ID 

$1,000,000  

$1,000,000  

Unlimited 

Unlimited 

 

Tier 0 - Designated for people with “read-only” access. Users may not deposit, withdraw, or trade any asset listed on the exchange, but can use the charting, news, and research components of the platform. This tier is designated for those who do not pass Tier 1 AML Scans or are residing in a county on the “Amplify Restricted Countries List”. Please review the list located here to see how this may impact your account. Note: We are not currently servicing customers in the U.S. and Canada but are working to service users in these locations as soon as possible. 

Tier 1 - Entry level traders visit Amplify Exchange, input their customer details, and upon submission, are immediately scanned across sanctions, Politically Exposed Persons (PEP), and other bad actor lists. If the result indicates the customer is not a “bad actor”, the user will have the ability to deposit and withdraw cryptocurrency ONLY. In other words, Tier 1 clientele cannot deposit or withdraw fiat. 

Tier 2 - Immediately after the customer has input their Tier 1 information, the user is then prompted to complete the rest of the verification process for increased levels of trading. Specifically, this requires a user to upload additional information needed to verify the customers identity (KYC), such as address verification and government issued ID. Additionally, our compliance program runs a more detailed sanction checks (AML). Ultimately, if a customer passes this verification stage, the customer can deposit and withdraw fiat. 

Tier 3 - For corporate and institutional clients, Amplify will have a manual review process that includes detailed checks on the account creator from previous tiers, but also requires additional document uploads. These clients will have to complete our “Corporate Application Form”, in which, customers will provide detailed business registration information, business beneficial ownership, display financial health, and disclose source of funds. 

 

 

Was this article helpful?
0 out of 0 found this helpful

Comments

0 comments

Article is closed for comments.