Guide to Identity Verification for Final Withdrawals

Introduction & Why Verification is Needed

LocalBitcoins has discontinued providing services and is currently guiding all existing customers to withdraw their remaining funds from the platform. To comply with Anti-Money Laundering regulations and ensure the secure release of your funds, identity verification is required for all customers intending to withdraw their assets, unless you have already fully completed this process.

General KYC Requirements

To proceed with your withdrawal, all natural person customers must provide the following information:

  • Full name, date, and place of birth.
  • Country of residence and all nationalities.
  • Residential address and phone number.
  • Social Security Number, or if unavailable, your nationality and a copy of your identity document.
  • A declaration regarding whether you are or have been a Politically Exposed Person (PEP), or a family member/close associate of a PEP.

How to Verify Your Identity

Standard identity verification is processed automatically by our third-party provider. You will be guided to complete a facematch (a selfie alongside your ID) and fill out the Know Your Customer (KYC) form. Please ensure you use high-resolution, unedited pictures of a valid supported document.

Manual Identity Verification

In certain exceptional situations such as recurring issues with automatic verification, unsupported nationalities or documents, or temporary service disruptions identity verification will be handled manually by a KYC specialist. If you are directed to manual verification via a support ticket, you must provide:

  1. A photograph of yourself (selfie) holding your ID alongside a handwritten note (written with a pen) containing your LocalBitcoins username and the current date.
  2. A photograph of a recent utility bill (e.g., electricity, gas, heating, water, landline phone bill, or bank statement) issued within the last 3 months, clearly showing your name and address.
  3. A photograph of your ID held directly next to your computer or mobile phone screen. The whole screen must be visible (all four corners) and must show the LocalBitcoins ticket page and your browser's address bar.

Enhanced Due Diligence (EDD)

Certain accounts will be directed to our Enhanced Due Diligence (EDD) process. This applies if you reside in or possess an ID from a High-Risk Country, are a Politically Exposed Person (PEP), have specific account security flags, or if the acquisition price of your Bitcoin balance exceeds 15,000 EUR.

If your account requires EDD, you must complete the following to be approved for withdrawal:

  • Pass an additional liveness check and submit a proof of address (A photograph of a recent utility bill as described above) confirmation.
  • Fill out a questionnaire detailing your main Source of Income and Source of Wealth related to your transactions.
  • Provide details regarding potential jurisdictional and sanctions risks, and state when you plan to withdraw your funds.

Corporate Accounts

If you operate a legal entity account, you must submit detailed information about the natural person representing the company, the board of directors, and basic company registration details. You must attach an extract from the Trade Register (maximum 3 months old) and an extract from the shareholders’ register. Furthermore, you must identify all beneficial owners (any individual directly or indirectly owning more than 25% of the entity or exercising control) and provide their government-issued IDs.

Withdrawal Requirements

Once verification is successfully completed and approved, you will be able to initiate your final withdrawal. Please note that all customers can only withdraw funds to a self-hosted wallet. Before the withdrawal is finalized, you must confirm ownership of your destination wallet by signing a message using that wallet's private key (How to withdraw).