Help & FAQs

Frequently asked questions

What is an accredited investor?

Accredited investors meet standards defined by the US Securities and Exchange Commission which allow them to invest in certain private securities offerings. Most startups raising money do so from accredited investors only.


The SEC web site contains the full definition. In general, any of the following would meet the standard:


  • Individuals with annual income over $200K (individually) or $300K (with spouse) over the last 2 years and an expectation of the same this year
  • Individuals with net assets over $1 million, excluding the primary residence (unless more is owed on the mortgage than the residence is worth)
  • An institution with over $5 million in assets, such as a venture fund or a trust
  • An entity made up entirely of accredited investors

What is CoinList?

CoinList is where early adopters invest in and trade the best digital assets.

How do I show accreditation based on crypto assets?

In order to fulfill the accreditation requirements with your crypto-asset holdings, you can either

  • Upload a screenshot from a credible cryptocurrency exchange or wallet showing holdings & valuations worth over $1MM USD. The screenshot should include the date and evidence tying the investor to the account (e.g. your name or the investing entity's name), or
  • Upload a message cryptographically signed using the private key of your wallet or wallets, proving that you own assets worth over $1MM USD. 
In either case, you will also need to provide documentation of your debts (e.g. via a credit report or letter from your accountant) in order to qualify. 


Detailed instructions for preparing a signed message


1. Prepare the following message for signature:


I, <Signatory Name>, certify under penalty of perjury that <Investing Entity Name> is the sole owner of the cryptocurrency address associated with this message as of <Today's Date>.


Replace the angle brackets with your name, the name of the investing entity, and the date.


2a. Signing the message - ETH


For Ether, use MyEtherWallet's message signing tool


Paste the message into the text field.




Select your wallet provider. (In this example, we use MetaMask.)




Click 'Connect'. Then, click 'Sign Message' to sign and approve the transaction. (There is no cost.)




Here is an example signed message:




2b. Signing the message - BTC


For Bitcoin, most wallets implement the ability to sign a message with your Bitcoin address’ private key. See this tutorial about how to sign a messaging with a blockchain.info wallet. See here for Jaxx wallet.


3. Submitting


Create a document with the message you signed, address, and message signature (sample information provided below):


A. Message:


I, John Smith, certify under penalty of perjury that I am the sole owner of the cryptocurrency address associated with this message as of Dec. 13, 2017.


B. Address


1UsRE3sak3u7qNaQ8Y1X4UmQS93qruLMt


C. Signature


IEXlF8laYLp1ZdQbIxWcXvQdt7d/0TyKLqKMNoTdpqCXG7LLm6upe4wjl6q9ZAtHc4paw9LqP8CudBNyOEwt1mo=


You can upload this information via the CoinList sale registration process or email the information to our team at team@coinlist.co.


In the event that your funds are spread across multiple wallets, you will need to include a signed message from each address.


Also, remember to provide documentation of your debts (e.g. via a credit report or letter from your accountant).

How long do wire and ACH transfers?

Wire transfers can take up to 1 business day. ACH transfers can take 3-7 business days.

What’s a qualified purchaser?

Qualified purchasers as defined by the US Securities and Exchange Commission are individuals with at least $5M in investments or funds with at least $25M in investments.

What is Token Sale Manager?

Token Sale Manager (formerly "ComplyAPI") empowers digital asset companies and networks to run a compliant token sale by providing tools to manage investors, meet compliance requirements, sign and distribute documents, and securely accept payments.

How long does accreditation take?

Accreditation can take up to 72 hours, though it’s usually much faster. You can see the status of your accreditation application here.


Please contact team@coinlist.co with any accreditation specific inquiries.


Topics

Investors

What is an accredited investor?

Accredited investors meet standards defined by the US Securities and Exchange Commission which allow them to invest in certain private securities offerings. Most startups raising money do so from accredited investors only.


The SEC web site contains the full definition. In general, any of the following would meet the standard:


  • Individuals with annual income over $200K (individually) or $300K (with spouse) over the last 2 years and an expectation of the same this year
  • Individuals with net assets over $1 million, excluding the primary residence (unless more is owed on the mortgage than the residence is worth)
  • An institution with over $5 million in assets, such as a venture fund or a trust
  • An entity made up entirely of accredited investors

How do I show accreditation based on crypto assets?

In order to fulfill the accreditation requirements with your crypto-asset holdings, you can either

  • Upload a screenshot from a credible cryptocurrency exchange or wallet showing holdings & valuations worth over $1MM USD. The screenshot should include the date and evidence tying the investor to the account (e.g. your name or the investing entity's name), or
  • Upload a message cryptographically signed using the private key of your wallet or wallets, proving that you own assets worth over $1MM USD. 
In either case, you will also need to provide documentation of your debts (e.g. via a credit report or letter from your accountant) in order to qualify. 


Detailed instructions for preparing a signed message


1. Prepare the following message for signature:


I, <Signatory Name>, certify under penalty of perjury that <Investing Entity Name> is the sole owner of the cryptocurrency address associated with this message as of <Today's Date>.


Replace the angle brackets with your name, the name of the investing entity, and the date.


2a. Signing the message - ETH


For Ether, use MyEtherWallet's message signing tool


Paste the message into the text field.




Select your wallet provider. (In this example, we use MetaMask.)




Click 'Connect'. Then, click 'Sign Message' to sign and approve the transaction. (There is no cost.)




Here is an example signed message:




2b. Signing the message - BTC


For Bitcoin, most wallets implement the ability to sign a message with your Bitcoin address’ private key. See this tutorial about how to sign a messaging with a blockchain.info wallet. See here for Jaxx wallet.


3. Submitting


Create a document with the message you signed, address, and message signature (sample information provided below):


A. Message:


I, John Smith, certify under penalty of perjury that I am the sole owner of the cryptocurrency address associated with this message as of Dec. 13, 2017.


B. Address


1UsRE3sak3u7qNaQ8Y1X4UmQS93qruLMt


C. Signature


IEXlF8laYLp1ZdQbIxWcXvQdt7d/0TyKLqKMNoTdpqCXG7LLm6upe4wjl6q9ZAtHc4paw9LqP8CudBNyOEwt1mo=


You can upload this information via the CoinList sale registration process or email the information to our team at team@coinlist.co.


In the event that your funds are spread across multiple wallets, you will need to include a signed message from each address.


Also, remember to provide documentation of your debts (e.g. via a credit report or letter from your accountant).

What’s a qualified purchaser?

Qualified purchasers as defined by the US Securities and Exchange Commission are individuals with at least $5M in investments or funds with at least $25M in investments.

How long does accreditation take?

Accreditation can take up to 72 hours, though it’s usually much faster. You can see the status of your accreditation application here.


Please contact team@coinlist.co with any accreditation specific inquiries.


Is there a contact email?

All questions can be sent to team@coinlist.co.


What is KYC/AML?

In order to invest through CoinList, you need to pass identity verification and KYC/AML (Know Your Customer/Anti-Money Laundering) checks. These checks apply equally to US and non-US residents. In general, you will need to provide a government-issued ID. 


You can learn more about KYC/AML here.

Why do you need my SSN?

Your SSN is required under our KYC/AML policy, a process set by our banking provider. We verify US investor's social security number and birthdate against credit records then verify the investment signatory against OFAC and similar databases to flag prohibited or high risk persons and entities.


How do I accredit my company?

In order to accredit your company entity with CoinList, you need to meet any of these following SEC requirements:


  • upload statements showing net assets greater than $5m, dated within 90 days 
  • upload documents showing that all shareholders are qualified purchasers 
  • upload documents showing that all shareholders are accredited investors based on individual assets over $1m or income over $200k ($300k with spouse)

How do I accredit my trust?

In order to accredit a trust, you need to provide documents showing the trust's asset amount is over $5m. You can have your attorney or CPA write a letter attesting to this. Here is a set of templates that can be signed by them.

Why is a credit report necessary?

If you are providing evidence of your accreditation on the basis of having over $1 million in net assets, the company you are investing in is required to verify your debts in order to confirm that your net assets are greater than $1M. CoinList requests this credit report and includes only total debts (excluding mortgages) when verifying your accredited investor status.

Why did my accreditation status "expire"?

According to SEC rules, we must check your accreditation status every three months if you accredited based on net-worth, and annually if you accredited based on income.

Who will see accreditation documents I upload?

Documents you upload as evidence of accreditation are kept private and are only used to assess your accreditation status. Our team of licensed attorneys and CPA's review these documents to ensure that the relevant accredited investor thresholds are met.


About

What is CoinList?

CoinList is where early adopters invest in and trade the best digital assets.

What is Token Sale Manager?

Token Sale Manager (formerly "ComplyAPI") empowers digital asset companies and networks to run a compliant token sale by providing tools to manage investors, meet compliance requirements, sign and distribute documents, and securely accept payments.

Can non-US residents invest on CoinList?

Interested non-US investors can invest on CoinList as long as they meet local laws regarding investment compliance. Please contact team@coinlist.co with any questions.


Is CoinList licensed or regulated?

CoinList Markets, LLC is registered as a money services business with the Financial Crimes Enforcement Network (FinCEN), Registration Number 31000158383629. CoinList Markets, LLC is registered with the Nationwide Multistate Licensing System and Registry (NMLS), ID number 1785267. 


CoinList Services, LLC is a technology services company that assists with the compliant purchase and sale of tokens and is not a licensed entity.


CoinList Lend, LLC is a proprietary cryptocurrency lender and is not a licensed entity. 


EC Securities LLC is a FINRA and SEC registered broker-dealer CRD#: 287845/SEC#: 8-69913.


Payments & Wallets

How long do wire and ACH transfers?

Wire transfers can take up to 1 business day. ACH transfers can take 3-7 business days.

How long do bitcoin transactions take?

Bitcoin transactions have hundreds to thousands of confirmations from their networks to confirm that they are real transactions. CoinList waits for 6 confirmations to consider the transaction - this can take anywhere from thirty minutes to twelve hours.


How long do ether transactions take?

CoinList waits for 30 confirmations to consider an ETH or ERC-20 transaction final. Although typically this should only take about ~5 minutes,this can take anywhere from five minutes to four hours. You can see the number of confirmations in your CoinList wallet.

Can I fund my wallet or investments using my online exchange wallet?

Yes. 


For withdrawals, you should re-confirm the withdrawal address on both your 3rd party exchange wallet and CoinList prior to submitting a withdrawal. Exchanges have various policies for crypto deposits, and the sending addresses don't always match the receiving addresses. We recommend you designate a return address for which you hold the private keys. CoinList is not responsible for transfers being appropriately credited to your account at a 3rd party exchange. 

Can my crypto return address point to an online exchange?

No, your crypto return address cannot point to an online exchange. Your crypto return address must be tied to a wallet for which you hold the private keys. 


Note that you can, however, fund an investment using your online exchange wallet.



How do I fund my CoinList wallet?

U.S. residents may deposit USD via ACH or wire. Simply click “deposit” from inside your USD wallet. In order to deposit via ACH you will have to link your bank account with Plaid. 


U.S. and foreign residents may deposit USD via wire. Simply click deposit from inside your USD wallet. 


U.S. and foreign residents may deposit via crypto. Simply click deposit from inside the appropriate crypto wallet. 


Are there deposit and withdrawal fees?

Other than as set forth below, CoinList does not charge fees associated with withdrawing or depositing crypto. However, the applicable network may charge transfer fees, which are not paid to CoinList or the custodian. 


CoinList Markets does not charge for ACH transfers or crypto transfers.


CoinList charges $10 per outgoing U.S. wire and $30 per outgoing foreign wire.

CoinList does not charge for incoming wires. 


If an incoming wire cannot be matched to your name, we will not attempt to return the wire if the amount is less than $10 for US bank accounts or $30 international bank accounts. Please contact customer support, if you believe a wire has not been properly credited to your account.

Token sales

How can CoinList help with my token offering?

Please fill out our application form here and we'll get back to you.

Which types of currency can I invest with on CoinList?

You can invest with US dollars, Bitcoin, Ether, or USD-C. 

What if my wire does not clear before the sale close?

If your transfer comes in after today's registration deadline, we cannot guarantee your allocation since the token purchases are on a first-come first-serve basis. I apologize for any inconvenience that this may cause.

Investing with Crypto - what is the estimated price?

When you start the investment flow, we show you an estimated conversion rate from crypto. This price is not final and may not reflect the actual investment amount. Your final price is determined once the conversion is executed. For example, if you wait 30 minutes to send BTC after completing the investment flow, the price may have gone up or down in that time. Once we receive your crypto transaction, we will send an email confirmation specifying the price at which we converted your crypto into USD or USDC, the fees charged by CoinList Markets LLC as well as your final investment amount.


Investing with crypto - how do I determine my final investment amount?

If you invested with USD or USDC, your investment amount will be the same amount as your investment less any applicable wire or network fees (not charged by CoinList).


If you invested with BTC or ETH, your final price and investment amount is determined once the conversion is executed and you receive a confirmation. Your final investment amount will be the converted amount of USD or USDC less the applicable fees. 


Your investment is not confirmed until after the payment is received and you complete all the required documentation.  


Investing with crypto - do I need to do anything to complete the conversion?

No - when you invest in a Token Sale on CoinList with crypto, we will automatically convert your crypto into the currencies that are being accepted by the issuer. Once you have transferred the crypto, you do not need to perform any further actions and will receive an email confirmation. If you do not wish to have CoinList Markets LLC convert your crypto you may convert your cryptocurrency elsewhere and use such converted currency instead.


Investing with crypto - how is the conversion price determined?

We display an estimated price as you are going through the investment flow [read more]. If you deposit crypto into your CoinList wallet immediately after finishing this step, it will likely be close to the actual conversion rate. However, we cannot guarantee this - conversion rates are determined by the market and can change quickly. 


Once we receive crypto, we will initiate the conversion and our liquidity partners provide a conversion price. CoinList selects the best price from among the offers. This is the price you will receive.

Investing with crypto - what if I don’t like the price provided by CoinList?

By using the conversion services, you are agreeing in advance to the final price determined by CoinList. If you would like to control the conversion price, please convert any crypto to USD or USDC prior to initiating the investment. 


Why was my crypto converted?

All investments done via CoinList are denominated in USD, and so regardless of whether someone pays with crypto or USD, we will denominate your investment in USD (or USDC). You can read about how we determine a conversion rate at https://coinlist.co/help/how-is-the-price-determined.


In many cases, issuers want to allow investors to participate with crypto but do not want to hold crypto on their balance sheets. In those cases, CoinList will convert your investment into USD (or another cryptocurrency that the issuer wants to hold).

Compliance

What is a foreign shell bank?

Foreign shell banks are non-U.S. banks without a physical presence in any country. A "foreign bank" is any bank organized under non-U.S. law or an agency, branch or office of a bank located outside the U.S. The term does not include an agent, agency, branch or office within the U.S. of a bank organized under foreign law.

What are the risks of investing in virtual currencies?

  • virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections;
  • legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of virtual currency;
  • transactions in virtual currency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable;
  • some virtual currency transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction;
  • the value of virtual currency may be derived from the continued willingness of market participants to exchange fiat currency for virtual currency, which may result in the potential for permanent and total loss of value of a particular virtual currency should the market for that virtual currency disappear;
  • there is no assurance that a person who accepts a virtual currency as payment today will continue to do so in the future;
  • the volatility and unpredictability of the price of virtual currency relative to fiat currency may result in significant loss over a short period of time;
  • the nature of virtual currency may lead to an increased risk of fraud or cyber attack; 
  • the nature of virtual currency means that any technological difficulties experienced by the licensee may prevent the access or use of a customer’s virtual currency; and
  • any bond or trust account maintained by the licensee for the benefit of its customers may not be sufficient to cover all losses incurred by customers.

What is a private banking account?

A “private banking” account is an account (or any combination of accounts) that requires a minimum aggregate deposit of $1,000,000, is established for one or more individuals and is assigned to or administered or managed by, in whole or in part, an officer, employee or agent of a financial institution acting as a liaison between the financial institution and the direct or beneficial owner of the account.  

What is KYC?

KYC stands for Know Your Customer and encompasses certain procedures that we employ to positively identify that you are, who you say you are. We use a number of tools to confirm your identity and ensure your eligibility for the CoinList services. This process can take between 0-3 business days for individuals, and for entities and trusts this can take up a week. 


You may be restricted from certain activities on the CoinList platform until you have completed identity verification. 


What is a foreign financial institution?

A foreign financial institution is: 


(1) a non-U.S. bank; 

(2) any branch or office located outside the United States of a broker-dealer; futures commission merchant or introducing broker; or open-end mutual fund company; 

(3) any other person organized under foreign law (other than a branch or office of such person in the United States) that, if it were located in the United States, would be a broker-dealer; futures commission merchant or introducing broker; or open-end mutual fund company; and 

(4) any person organized under foreign law (other than a branch or office of such person in the United States) that is engaged in the business of and is readily identifiable as: (a) a currency dealer or exchanger; or (b) a money transmitter.  


Who can use wallets? Who can buy and sell cryptocurrencies?

Subject to regulatory restrictions, anyone can use wallets, and anyone can buy and sell cryptocurrencies. There is no accreditation requirement. Users must complete KYC and identity verification. 


You can see a full list of supported jurisdictions here.


Trading

What are the fees?

You can find the most up to date information on trading fees here.


Are there minimum or maximum order sizes?

Yes, you can find the most up to date minimum and maximum trade limits here https://coinlist.co/legal


What assets can I trade?

You can view currently supported assets on https://coinlist.co/legal




How do I make a trade?

 You can make a trade directly from CoinList Wallet or via the navigation window by clicking Trade. 


Once you see the trading screen. You will then be prompted to enter an amount of a specific cryptocurrency you wish to buy or sell. Once you have set the amount, you can preview the order. 


After selecting “preview order”, you will be presented with the price for your order. You will have 30 seconds to confirm the trade. If you do not confirm the trade within 30 seconds, you will be required to re-input your order. The price may change after the 30 second window. Once you confirm the order, the trade will be considered final and it will be executed, you will see the resulting balances in your applicable CoinList Wallets.

Are there minimum price increments for orders?

Yes, but these are not uniform across all assets, please see https://coinlist.co/legal for the most up to date information. 

Do all users automatically have access to CoinList wallets & trading?

Depending on when you signed up for CoinList, you may need to complete additional compliance in order to use wallets and trading. You can complete your registration at https://coinlist.co/wallets/new.  New users should automatically have access to wallets and trading, subject to additional jurisdiction restrictions. 

How long does a trade take to clear?

Confirmed trades typically take only a few seconds to clear and to be reflected in your CoinList Wallet.