What does account opening actually mean?
Before you can buy Bitcoin from 21bitcoin, you need to create an account and verify your identity. This process is also known as “onboarding” and is required by law for all regulated financial service providers in Europe. It ensures that only real, authorized people use the platform — and thus also protects you as a customer.
The account opening process in three steps
1. Create account
The first step is simple: You download the 21bitcoin app and register with your email address. Within a few seconds, you'll have your personal account.
2. Verify identity (KYC)
As a platform licensed by the Austrian Financial Market Supervisory Authority (FMA) and regulated across Europe, we are required by law to verify your identity — the so-called Know Your Customer (KYC) Process. All you need is:
- A valid identity document (ID card or passport)
- Your smartphone for a short selfie video (without a human agent or video call)
The entire process is digital and usually only takes a few minutes. In doing so, we compare your information with your identity document and carry out verification — this helps prevent fraud and increases your security.
3. First deposit and off you go
After successful verification, you can deposit euros into your 21Bitcoin account via SEPA transfer. It's free and usually works within 1-2 minutes — around the clock.
When making a deposit, we use the so-called reference account method: Your deposit must come from a bank account to your name. This is how we ensure that only you transfer money to your account. As soon as the money is received, you can buy Bitcoin immediately.
What can delay onboarding?
In the vast majority of cases, the process is completed within a few minutes. However, there are situations where a manual review is necessary or the onboarding cannot be completed successfully. Here are the most common reasons:
Sanction list check
Before activation, every person is checked against international sanction lists. This audit is required by law and is standard for all regulated financial service providers in Europe. If there is a possible match, the onboarding is first stopped and the case is reviewed manually. Confirmed sanction list entries may mean that the platform cannot be used. Examples include lists related to terrorist financing, corruption, or organized crime.
Politically Exposed Persons (PEPs)
If you are a so-called “politically exposed person” — such as a high-ranking official or a close family member of such a person — there are stricter due diligence requirements. In such cases, onboarding may take longer or may be rejected. People who have specific political opinions but do not work in a political office are not politically exposed persons. No one is therefore simply rejected on the basis of their political stance.
ID document issues
An expired ID document, a damaged ID, or a poor-quality photo can prevent automatic verification. In such cases, you will be asked to repeat the process with a valid document.
Domicile outside the EEA
21bitcoin is available to customers residing in the European Economic Area (EEA), Switzerland, and the UK. If you live outside these regions, onboarding is unfortunately not possible.
Why all of this?
We know that regulation is often cumbersome and entails additional costs for us as a provider as well as for some customers. But it is precisely this care that makes 21bitcoin one of the most secure platforms for Bitcoin in Europe. Our goal is to provide you with a trustworthy environment in which you can build your Bitcoin investment securely and over the long term. Every audit we conduct not only protects the financial system — it protects you in particular. At 21bitcoin, there are no checks or rejections based on personal opinions or attitudes, we act clearly and precisely in accordance with the legal requirements to which we are subject and treat every customer equally.
Note: Past price developments are not an indicator of future developments. Marketing message, FIOR Digital GmbH
