BitPrime’s Transaction Limits
Under the ‘my account’ section, users see two figures, a daily transaction limit, and a 30-day transaction limit. These limits are set to $10,000.00 (daily) and $25,000.00 (30-day) for all verified customers. This means customers can only buy or sell up to $10,000.00 per day, or $25,000.00 every 30 days. BitPrime’s transaction limits are necessary in order to comply with AML/CFT regulations in New Zealand.
Customers can increase these limits by applying for enhanced verification. This involves providing documentation verifying where the NZD has come from to buy or sell Cryptocurrency outside of the given limits. Customers can increase their limits by as much as their documentation allows. BitPrime has introduced enhanced verification in order to comply with current AML/CFT regulations in New Zealand.
Regardless of your verification level, BitPrime monitor’s all transactions to ensure that we’re complying with the AML/CFT Act. 2009 at all times. Please don’t be offended if we request additional information regarding a transaction; we’re just complying with our statutory requirements as a responsible financial services provider.
If you have any questions regarding verification or enhanced verification please contact us.