As a regulated Bitcoin platform in Canada, 1Bitcoin.ca may occasionally ask customers about the source of funds used for certain transactions.
This is a normal part of financial compliance and helps prevent fraud, money laundering, and unauthorized account activity.
In most cases, these reviews are routine and do not mean you did anything wrong.
🔍 What “Source of Funds” Means
Source of funds refers to where the money used for a transaction came from.
Examples may include:
employment income
personal savings
investment proceeds
business income
the sale of assets
In some situations, we may request supporting information or documentation to help verify the transaction.
⚖️ Why We Ask
Canadian financial regulations require regulated platforms to monitor certain transactions and customer activity.
Source of funds reviews may help:
prevent fraud
reduce financial crime
confirm transactions are authorized
comply with anti-money laundering (AML) regulations
These checks are common across regulated financial institutions and Bitcoin platforms operating in Canada.
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🚩 When Source of Funds Questions May Happen
Additional review may occur if:
transaction amounts are unusually large
account activity changes significantly
deposits or withdrawals appear inconsistent
compliance checks are triggered automatically
In some cases, reviews may also occur randomly as part of routine compliance procedures.
📄 What Information May Be Requested
Depending on the situation, we may request:
proof of income
bank statements
transaction history
documentation related to asset sales
additional identity verification
Only information relevant to the review will be requested.
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⏱️ How Long Does Review Take?
Review times vary depending on:
the complexity of the transaction
the documents provided
support and compliance volume
Providing requested information promptly may help reduce delays.
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🔐 How Your Information Is Handled
Any information submitted during compliance reviews is handled securely and used only for:
verification purposes
fraud prevention
regulatory compliance
1Bitcoin.ca does not sell personal customer information.
💬 Need Help?
If you have questions about a source of funds request:
request a live agent through support
or email [email protected]