In accordance with the Compliance and AML regulations, YouHodler can request the Source of Funds confirmation document.
Your source of funds is what you would answer if someone said "So how do you make your money". It could otherwise be termed "the origin of your wealth" i.e. It is your regular income with which you purchase the coins that eventually enter the platform.
So in most cases, this is salary or company dividends. In a few exceptional cases, people have received a large inheritance or property sale which dwarfs their regular income, but this is rare.
Please note, Crypto/investments will only be your source of funds if you would classify that as your MAIN source of income (i.e. you are mining/trading professionally). You are not advised to designate these options if this is merely how you store/invest your savings from your salary/company/inheritance/gift, as then the salary/company/inheritance/gift would be the SOF.
A bank statement isn't good source of funds in and of itself (it will normally only ever serve as supplemental evidence) as, while it does show that you do have funds, it doesn't show us the legitimate nature of the provenance of those funds.
This documentation is required by Swiss Anti-money Laundering legislation and is asked of all active users on the platform. Such requests are not made with every transaction on the platform, nor are they linked to specific transactions.
Source of Funds
We can accept the following document types:
Where SOF is salary, pension, or savings - Recent payslips, Income tax statements, Employment contracts, Pension statements (no older than six months) Any and all company names and the name you have registered must be clearly visible on all the provided documents;
Where SOF is company dividends/ sale of a company - Company accounts, shareholding documents, Proof of income from capital assets or company investments (e.g. bank statement, distribution agreements, dividend resolutions, and current account balance) or Proof of the sale of shares in a company;
Property sale - A notarized contract for property sale or extract from the land registry, accompanied by bank statements (with the account balance and receipt of payment clearly visible) / confirmation of stamp duty;
Gift/Inheritance - A trust deed, Attestation from the executor of a will/notarial proof of gift/inheritance;
Loan/mortgage - a mortgage or Loan contract in combination with bank statements showing the transaction;
Property management - Proof of income from renting and leasing (e.g. rental agreement at the time of the agreement being signed and proof of the last rental payment);
Sale of (non-land) assets - Proof of income from investments (e.g. artwork, collector’s items), such as contracts and payment receipts which contain information on the buyer and seller;
Crypto assets - Screenshots of purchase and withdrawal confirmation displaying your account ID and all transaction details; Confirmation emails/Receipts which provide proof of purchase or withdrawal; Receipts which provide proof of purchase); Screenshots of the transaction history displaying trading profits made on other brokers or exchanges; In the case of an ICO, the full name of the ICO and the associated project’s website must be visible - We also need to know the exact amount invested in the cryptocurrency and the equivalent value in fiat at the time of the investment - In addition, we need the transaction history that documents the purchase and withdrawal of the token (wallet addresses and transaction ID);
Crypto mining - Receipts for the purchase of mining hardware, on which the address of the buyer (the name that you have registered) and seller are displayed; Photos of mining hardware and screenshots of the platforms and programs used; Operating cost statements (e.g. electricity bills) also issued in the name that you have registered.
Please, see the requirements for the document:
The document could be paper (scan or photo) or electronic (PDF/JPG/PNG);
The document should contain your full name;
The document is written in Latin (e.g. A,B,C,D, etc.) alphabet; in scenarios where it is completely impossible (e.g. payslip issued in kanji) please make sure the image is of high quality, scanned so that it is completely legible and bear in mind that processing may take longer;
The Document should cover all future and past crypto & fiat deposits; i.e. it is not the origin of a specific transaction, but the regular income with which all of your investments are made (i.e. how you make your money, that you have spare to invest).
Where the document does not reflect regular income (e.g. salary, pension), and is a one time event (e.g. Sale of property) it should cover a significant proportion of your assets on the platform to be accepted as plausible SOF.
Please be advised:
We do not accept photos of electronic documents (document screenshot, photo of monitor with the document, screenshot of the document from a mobile device, etc.);
Due to international and domestic legislation that govern our onboarding a bank statement is not in and of itself a proof of source of funds.