1. Verify your email
To get started, submit your email address. After doing so, you will receive a verification email. If you do not see the verification email, check your Spam and Promotions folders. If you do find it there, move it to your inbox to make sure you get emails from us in the future.
Open the email and click the link to continue.
2. Verify your identity
Financial services companies in the United States are required to verify the identities of their customers, a process known as Know-Your-Customer, or KYC.
To complete this process, you will need to provide the following:
- A live photo of a valid government-issued ID such as a driver's license or passport
- Basic information, including your full legal name, date of birth, and a residential address
- Social Security Number (SSN) or Social Insurance Number (SIN). Although this step is optional, if you do not complete it, you may experience transaction limits that restrict what you can do with Coinbits.
- Three live photos of yourself that include two side views and a center photo.
If you experience difficulties, don't hesitate to contact support.
Note: Any customer going through KYC with a non-US IP address will be flagged for review and asked to verify the reason they are not in the US.
3. Connect an external bank account
A U.S.-based bank account is required to deposit cash into your Cybrid account. This cash can be converted to bitcoin, and vice versa. You can also send cash back to this external bank account.
Coinbits uses Plaid, the industry-leading solution for connecting bank accounts to apps. To link your bank account to Coinbits using Plaid, you will need the username and password that you usually use to access your bank account online. Coinbits does not see your username and password during this process.
4. Get bitcoin
There are several ways to obtain bitcoin using Coinbits. To buy bitcoin manually, select Add Cash from the Move Money menu, and deposit cash using either a bank transfer or a wire transfer. When the funds clear, which can take a few hours to a few days depending on the banking system, you can convert as much of the cash as you want to bitcoin.
Alternatively, you can set up an automated way of obtaining bitcoin by using Round Ups or Saving Habits. In both these cases, our Smart Transfer™ feature will pull enough funds from your external bank account automatically to ensure your automated bitcoin conversions happen on time.