Why have I been transferred to Coinmerce?

Binance left the Dutch market in August 2023. As a Dutch-based user, you were only able to redeem your assets from their platform. Coinmerce offers 350+ assets, which comes closest to Binance‘ coin offering. Coinmerce and Binance reached an agreement to transfer the claim of the assets of the Dutch users to Coinmerce.

I have not yet received an invitation email?

It can take 1-3 days for us to send you the invitation email to claim your assets. If you still have not received the email after three days, please get in touch with our support team to check the status of your claim.

I am unable to onboard to Coinmerce due to my nationality or country of residence, what are my options?

If you are unable to onboard with us please contact customer support to find a solution. You can reach the support team at [email protected].

I cannot register or log in, what should I do?

If you cannot register or create a password, it may be because you already have an account or you have attempted to log in with too many wrong attempts. Please use the 'forgot password' function on the login screen and make sure to use the e-mail address that was registered at Binance. You will receive an email from us, which you can use to log in. Please wait one hour before logging into your account via the email, this time lock has been implemented for security reasons. If the problem persists, please contact our support team! You can reach the support team at [email protected].

What if I do not accept the general Terms and Conditions?

If you only want to claim and withdraw your assets after the transfer from Binance to Coinmerce, you are not required to accept our general Terms and Conditions. This will result in most of our platform functionalities, including buying, selling, swapping, depositing, staking and participation in the “Earn” program not becoming available. You will only be able to withdraw your assets to an external wallet after completing the KYC process. Please note that due to the Dutch Sanctions law you will also need to verify ownership of your external wallet. We do recommend that you review and agree to our General Terms and Conditions to benefit fully from the features of Coinmerce.

I initially did not accept the Terms and Conditions. Can I still do this later?

You are always able to accept our Terms and Conditions later on. This is done by logging in via the website and following the flow on the Home page.

I need to complete my bank verification, how do I do this?

Please make a SEPA bank transfer of €0.01 to the Coinmerce Bunq account to verify your bank. You can easily do this in your account.

1. Login to your Coinmerce account via de website.
2. Go to menu and select 'Account Level'.
3. In this page you will see your verification. Your Bank Verification should be grey. Select this option.
4. Select your preferred payment method and follow the instructions.
You can only use a private bank account that is registered to the same account holder name as the Coinmerce account. You cannot use a business bank account for a private Coinmerce account. If you have a joint account with your partner please contact support by sending an email to [email protected].

I already had a Coinmerce account before the migration. What will happen?

If you already have an account with Coinmerce we will add your crypto assets to your Coinmerce account. This will prevent you from having to go through the onboarding again.
If we were somehow unable to match your accounts please get in touch with our support team. You can reach the support team at [email protected].

My assets have left Binance but I don‘t see them in my Coinmerce account.

If you did not opt-out from the asset claim transfer to Coinmerce and your assets are no longer available on Binance and at the same time not visible on your Coinmerce account, it means they are being transferred over to Coinmerce. Although we typically receive the assets immediately and there is no risk of losing them, we need time to process the asset allocation. We ask for your patience in this regard, it may take up to a few days. If the assets have not appeared after a few days, please contact our customer support team. You can reach the support team at [email protected].

Some or all of my assets on Binance have not been migrated to Coinmerce. Why is that?

Unfortunately, we cannot accept every cryptocurrency that Binance supports. We use our own listing process. A good example of this are so-called privacy coins like Monero and Zcash. Of course, you can still send these from Binance to another wallet that does support these cryptocurrencies. This process is subject to Binance‘s claim process steps. For a complete overview of which cryptocurrencies Coinmerce supports, please refer to our Cryptocurrency page.

My assets didn‘t transfer from Binance because Coinmerce doesn‘t support them. How can I redeem those assets?

Open a crypto wallet on another platform that does support the crypto you want to redeem. When you have done this, copy the wallet address and enter this address when redeeming a specific cryptocurrency on Binance. Make sure to choose the correct network otherwise it won‘t arrive in the wallet you want to send it to. If you have any questions regarding this, please contact the Binance support team.

I received an email about Source of funds. What does this mean?

We request this information from you because we need to comply with our regulatory obligation to carry out customer due diligence. This means that for deposits above a certain threshold, we are obliged to inquire about the origin of the funds invested.
Coinmerce is registered as a provider of crypto services with De Nederlandsche Bank. This means that we comply with the Prevention of Money Laundering and Terrorist Financing Act and Sanctions Act. Inquiring about the origin of customer funds is a standard procedure in this regard.
Please note that the information you provide will be handled with the utmost care and confidentiality by our team. For requesting your Source of Funds information, we use Paperform software. This means that the link to the questionnaire contains a reference to Paperform and is therefore not spam. You can reach the compliance team at [email protected].

What are Coinmerce credits?

One Coinmerce credit always has a value equivalent to €1.00. With Coinmerce credits, you can buy any cryptocurrency on our platform. Orders paid with Coinmerce credits are executed immediately unlike purchases with SEPA. When you sell cryptocurrency, the value is credited to your account in the form of Coinmerce credits. When you sell your Coinmerce credits, the value will be transferred in EUR to the verified bank account. The withdrawal of Coinmerce credits is free of charge.

I am unable to withdraw my assets because the minimum withdrawal amount exceeds my holdings, what can I do?

To cover the costs associated with crypto asset transfers, such as network costs, we have implemented minimum withdrawal amounts. These are specific for each crypto asset and are dynamic. As stated in our claim terms, if your crypto asset holding is less than the minimum withdrawal amount, we unfortunately cannot process your claim. However, if you accept our General Terms and Conditions, you are able to buy more cryptocurrencies. If, after buying additional crypto assets, your balance reaches the minimum withdrawal threshold, you will be able to withdraw your assets from Coinmerce.

My EURO balance did not come along, now what?

Unfortunately, it is impossible for us to receive EURO balances from Binance due to regulations. After the 17th of August all remaining EUR balances have been converted into USDT. We  recommend manually transferring the USDT to your Coinmerce account. How to do this is explained in this article.

My bank verification has been refused, now what?

This can have several reasons:
1. You are trying to verify a business account. Coinmerce only accepts private customers and therefore cannot verify a business account. Please try again with a private account in your name.
2. You are trying to verify a shared account. Here it may happen that we can only see the first name on the account. In this case, please send a photo of your bank card to [email protected] so we can verify it.
3. You try to verify an account that is not in the same name as the Coinmerce account. Unfortunately, we cannot accept this. Please verify an account in your own name.

My ID verification has been refused, what now?

Your ID verification can be refused for several reasons. Important things to watch out for are the following:

Make sure the ID document is legible, not over- or underexposed and no data is covered.
Make sure your face is visible in the middle of the screen in the selfie photo.

The ID verification stays on pending, what should I do?

If the ID verification is stuck or on pending, it could be because our compliance department needs to review it. You will have to wait until this message disappears. Is the verification still not approved? Then log in again and try it with another device. If verification still fails, please contact support on our website.

Why won‘t my ID verification work?

1. if you try to verify your ID via the initial Coinmerce email you received, this may not always work. We are working hard on fixing this issue. In the meantime we kindly ask you to login via https://coinmerce.io/en/login/ and go your profile icon. There you should see a heading that is called ”Account Level”, where you can finalise your Photo Identification.
2. It is possible that your identification document does not get approved in one go, which means our Compliance department needs to look at it. In this case it can take longer for your ID to be approved. It is also possible it gets rejected, in which case you will receive an email with the reason why. Please try again after receiving this email.