Proof of funds for cryptocurrencies is typically requested by financial institutions, including banks, brokers such as Coinfinity, and exchanges like Bitpanda, Binance, Kraken, and Coinbase. Similar platforms may also require such documentation.

These proofs serve to ensure compliance with anti-money laundering regulations and to fulfill due diligence obligations. In other words, your bank or crypto exchange is legally required to request proof of funds.

Mag. Sigrid Wahl, MA – Crypto Compliance Analyst

A proof of funds means that the origin and acquisition of assets must be clearly explained and verifiable. When cryptocurrencies are involved, this can be a complex process. It requires gathering and preparing transaction data as well as providing evidence of where the money for initial crypto purchases came from, such as salary statements or gift confirmations.

If you have questions about your specific case or need a professionally prepared proof of funds for cryptocurrencies, you can use our online consultation service.

For more information, you can consult our blog (currently German only).