Why Is KYC Required?
Under Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act, all Money Services Businesses (MSBs) — including Bitcoin exchanges — must verify the identity of their customers.
FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) oversees this. 1Bitcoin.ca is FINTRAC registered (M21226416).
This is a legal requirement. No regulated Canadian exchange can let you buy Bitcoin without KYC. Any platform that does is operating illegally and carries significant counterparty risk.
What Does KYC Require?
Tier 1 (T1) — Phone + Email Verification
- Valid email address
- Canadian phone number
- Basic personal information
Tier 2 (T2) — Full Verification
- Government-issued photo ID (driver's licence or passport)
- Proof of address (bank statement or utility bill, dated within 3 months)
- Selfie / facial verification
How Long Does KYC Take?
Most customers complete T2 verification in under 15 minutes.
Is My Information Safe?
1Bitcoin.ca is FINTRAC-registered and required to handle your information under PIPEDA (Canada's privacy law).
Your KYC data is used only for regulatory compliance — never sold or shared with third parties.
