What Does Tiered Verification Mean and What Does My Tier Permit Me To Do?
Users are grouped into three tiers depending on the level(s) of verification they have completed. There are tiers 0, 1 and 2.
- Users in tier 0 have completed no level of verification
- Users in tier 1 have completed level one verification
- Users in tier 2 have completed level two verification.
Each of these tiers have different features which would be explained below.
Every user starts out in tier 0. In this tier, you are unverified and cannot carry out any transaction yet.
You need to have completed at least level one verification before you can carry out transactions on BuyCoins.
In this tier, you can carry out limited transactions on your account. You need to have completed your bank verification, that is level one, in order to belong to this tier.
As a tier one user, you will be able to:
- Buy and sell up to 50,000 NGNT worth of cryptocurrency every month, that is, both buying and selling cannot exceed a total of 50,000 NGNT.
- Deposit and receive an unlimited amount of NGNT and other coins.
- Withdraw up to 25,000 NGNT every month.
However, you will not be able to:
- Send coins to external wallets
- Carry out peer-to-peer trading
This tier is great for those who trade low volume of cryptocurrency. You can also upgrade your tier at any point in time by completing level 2 verification.
In this tier, there are no limitations on the kind of transactions you can carry out. You also have access to every feature we offer. You need to have completed bank verification (level one) and BVN & phone verification (level two) to belong to this tier.
As a tier 2 user, you will be able to:
- Buy and sell an unlimited amount of NGNT worth of cryptocurrency every month.
- Deposit, withdraw, send and receive an unlimited amount of cryptocurrency every month.
- Buy and sell higher amounts of cryptocurrency at better rates on high volume mode.
- Carry out peer-to-peer trading.
This tier is great for those who trade high volumes of cryptocurrency.