Tier Limit Policy

It is the policy of CoinMover to prohibit and actively prevent money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal actions by complying with all applicable requirements under state and federal rules.

As a result, a tier based system has been implemented to balance to need to purchase digital currency easily and efficiently while providing a great customer experience and complying with all regulations.  The three (3) tiers below contain our purchase and sale limits:

Level Transaction Limit Monthly Limit Lifetime Maximum
Tier 1 up to $2,500 $5,000 $10,000
Tier 2 $2,501 - $9,000 Varies** Varies**
Tier 3 $9,000 - $50,000+ Unlimited*** Unlimited***

Tier 1: $20 to $2,500

  • Full Name
  • Mobile Smartphone 
  • SMS/Text Verification
  • Database Lookup Match

Customers who wish to purchase between $20 and $2,500 must provide a full name and a valid domestic mobile phone number. VoIP and other "soft" phone services aren't accepted.  A third party service is used in real time with your name and phone number to provide us with a risk/score profile based on many variables and third party databases.

If for whatever reason your name and/or phone number results in a score that doesn't meet our internal criteria, you will not be allowed to continue without manual verification through contact with our support staff. We may also contact you for additional information depending on your transaction frequency and amounts.

Note that all purchases between $1,000 and $2,500 are reviewed manually each day by our compliance team. As part of this review we may reach out for additional information from you. While you aren't forced to provide more information about yourself, we reserve the right to block any account, at any time, for any reason.

Tier 2: $2,501 to $9,000 

  • E-Mail Address
  • Mobile Smartphone 
  • SMS/Text Verification
  • Database Lookup Match
  • Passport or Drivers License (or Student ID*)

Purchasing or selling more than $2,500 any one time requires your valid mobile phone number plus additional identification. This includes a valid passport, driver’s license, or student identification card.

You will be asked to hold the front and back of your document up to the machine scanning window, and a copy will be saved in our secure database.  Tier 2 approval requests usually take between 5 and 20 minutes. You will receive a text message when your account has been approved.  You only need to do this once. All future transactions will be linked through your mobile phone number stored in our system.

*Student identification cards are only accepted if our machine is located on or next to a major college campus and our internal risk score for your profile meets our guidelines. Regardless of the identification document provided, CoinMover will only accept documents that feature either a magnetic stripe or a scannable bar code on the back.

**Tier 2 does not currently have a set monthly or lifetime transaction limit. Your limit is variable and mostly set based on the information you provided, the information we have been able to validate through public and private databases, and other factors. We always reserve the right to ask for additional information as part of our BSA/KYC/AML/EDD policy based on your purchase patterns.

Note that federal law requires us to report any single cash transaction of $10,000 or more, or separate transactions that total more than $10,000 within the same 24 hour period.

Tier 3: $9,000 through $50,000+

  • E-Mail Address
  • Mobile Smartphone 
  • SMS/Text Verification
  • Database Lookup Match
  • Passport or Drivers License
  • Social Security Number
  • Enhanced Customer Identity Verification

Anyone wishing to conduct more than $9,000 at one time, or more than $50,000 in total volume with us may apply for Tier 3 account approval.

Tier 3 account applications can be submitted via our on-line Enhanced Customer Identity Verification process. You may submit the required information by clicking here. This includes, but is not limited to bank statements, W2/1099 forms, a copy of tax returns, source of funds proof, and more. We will process your application and reply back to you in less than 24 hours.

High Volume Discounts

All approved Tier 2 and Tier 3 accounts that have a valid e-mail address confirmed in our system are eligible for discount promotional codes that you can enter at our terminals each time you make a transaction.  These codes give you a permanent discount on our fees and a reduction on the market price of each crypto displayed on the machine. If you want a discount, just text us at 617-681-4000 or e-mail support@coinmover.com and ask.

Tier Limit Notes

As a general rule, the following apply:

  • Our internal systems will flag anyone who approaches our cumulative transaction limits, and we will pro-actively try to reach out so you can be approved for higher limits rather than be denied when you visit one of our machines.
  • If you have not yet visited a CoinMover machine and performed a transaction, but wish to exceed the limits above, we ask that you reach out to us at support@coinmover.com or submit your information via our Enhanced Customer Identity Verification in order to be approved for Tier 3. We will ask questions like your anticipated transaction frequency, the general source of your funds, and additional documentation as required by our compliance policies. Once we verify your account, we are able to lift all restrictions so that you are free to buy and sell with no transaction or cumulative limits.
  • While at our machine, if your documentation or information cannot be validated in real-time, your transaction and account will be placed in a pending status. Someone will manually review your account and reach out to you for additional information if needed.
  • All official email from CoinMover will come from only two addresses:
    • support@coinmover.com
    • news@support.coinmover.com
  • All official system generated text messages will only ever come from one of the three following numbers:
    • Official Support:
      • (617) 681-4000
    • Random system notifications and updates:
      • (617) 843-4444
    • One-time passcode via SMS before each transaction:
      • (617) 681-7771
  • Our terminal automatically rejecting your registration for any reason doesn't mean we can't approve your account. It just needs to be looked at manually to ensure that all individuals who conduct high volume transactions are properly identified.  We understand it can be a pain, but give it about 5-10 minutes and you'll get an e-mail or text back about the status of your account.
  • We reserve the right to close an account at any time, for any reason, where our internal risk and compliance department has deemed the account transaction history does not align with our business goals or adhere to our compliance standards and policies.