With our services at BTCX, you can both buy and sell bitcoin. After some simple preparation that has to be made in order to create an account with us, you will gain access to the fastest, simplest, and the best service to shop virtual currency available throughout Sweden.
If anything you read in this guide comes across as weird, or if there is anything else you’re wondering about, do not hesitate to contact our nice, accommodating, and very competent support team with your questions. You can contact the support team by sending an email to email@example.com or by clicking here and filling out the form.
The first step is to enter your email and choose a password. BTCX does not have any specific requirements on how you should phrase your password, but it is recommended to pick a password that is longer than eight characters – preferably much longer. Think of your password as more like a pass-”phrase” rather than a pass-”word”. A good system to create long, random, and secure passwords which nonetheless are easy to memorize is Diceware, where you use a series of dice rolls to pick a number of words from a set word list.
Examples of such pass phrases are lukta-scanna-vv-karel-por-bris, labradorstowingfactorshortwaveattendantundying or GehuptEerdeKlutsDeukenKransGeaard – there are word lists in several different languages, here we have used the Swedish, English and Dutch standard lists, pick a language you know and are comforable with.
There! Your account has been created and an email has been sent to the specified address. Please confirm your email by clicking the link included in the email. You can log in for the first time after you’ve confirmed your email address.
Welcome! You are now logged in. But for your own, and our safety and because we are obliged by authoritites to participate in the fight against money laundering, we will have to ask you for your personal information, and verify it. If you were to click ”buy bitcoin” for example, you’ll be redirected to the following page:
This is where you enter your personal information. Most of this information is pretty usual and ssimilar to what one has to enter in any webshop, but since bitcoin is a financial product, you’ll encounter an unsual question at the end. It is the question where you’re supposed to answer ”yes” or ”no” if you are a politically exposed person. Briefly, it means that you have to tell us at BTCX if you work in, or are elected to, any government or parliament. It could also be if you work as a judge or a senior official at any governmental organization in the country where you are a citizen. You can click the link next to the question to get more detailed information.
The last step is to verify your information, Finansinspektionen will not allow us to process your buy- and sell orders if we don’t do this. We aren’t allowed to sell bitcoin to you if we haven’t confirmed your information.
What we need to be able to do this is a clear picture of the front and back of your ID or driver’s license. Attach the image of the front and back as two separate images.
We need a picture of a bill to match your name to you address. It has to be a bill associated with your household and your address. It can for example be an electricity, gas, or rent bill. Your name and address has to be clearly visible. A phone bill is unfortunately not good enough since it doesn’t have anything to do with your home address. Make sure to use your registered address (regardless of where you live right now), otherwise our verification will indicate that you have entered the wrong address.
To get your documents verified during office hours is pretty fast, it usually takes about an hour or sometimes up to two hours. If you have sent us your documents in the middle of the night, you will have to wait until the next day before we can verify them.
You will receive a confirmation email as soon as the verification has been completed. We will personally contact you via email to figure things out if anything is wrong or unclear. Our support team has years of experience and is great at helping.
You can see the possibility to verify your bank account and phone number on the same page.
We have to verify your bank account to make sure that we are sending the money to you when you sell your bitcoin to us at BTCX.
Your phone number has to be verified before you can use Swish, for the same reason as the bank account. We really recommend using Swish, this way you will get your bitcoin within three minutes, usually sooner.