What is a SoW (Source of Wealth)? – CoinMart Support

What is Source of Wealth (SoW)?
- SoW refers to the broader aspect of where a customer's overall wealth originates, encompassing various income streams over time.
Why is SoW verification crucial?
- It is important for CoinMart to understand the source of the invested funds in order to gain a better understanding of the customer's personal circumstances and to meet its regulatory obligations.
When might SoW be requested by CoinMart?
- CoinMart may perform SoW verification at various times, for example when setting up an account or when the account is already verified and operational.
What documents are accepted for SoW verification?
1. Cryptocurrency Holdings: From other exchanges or third-party providers.
2. Mining: Profits from cryptocurrency mining.
3. Investments: Statements from brokers, banks, or financial institutions.
4. Inheritance: Certified inheritance certificates.
5. Salary: Pay slips.
6. Tax Statement: Detailing all income streams.
Please note, we can only accept documents uploaded in the following formats: png, jpg, jpeg or pdf. The document must include your full name, residential address details and be issued within the last 3 months.

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