Why do you need my SSN?

Accredited investors meet standards defined by the US Securities and Exchange Commission which allow them to invest in certain private securities offerings. Most startups raising money do so from accredited investors only.

The SEC web site contains the full definition. In general, any of the following would meet the standard:

• Individuals with annual income over $200K (individually) or $300K (with spouse) over the last 2 years and an expectation of the same this year
• Individuals with net assets over $1 million, excluding the primary residence (unless more is owed on the mortgage than the residence is worth)
  
• An institution with over $5 million in assets, such as a venture fund or a trust
  
• An entity made up entirely of accredited investors

In order to fulfill the accreditation requirements with your crypto-asset holdings, you can either

• Upload a screenshot from a credible cryptocurrency exchange or wallet showing holdings & valuations worth over $1MM USD. The screenshot should include the date and evidence tying the investor to the account (e.g. your name or the investing entity's name), or
• Upload a message cryptographically signed using the private key of your wallet or wallets, proving that you own assets worth over $1MM USD. 

In either case, you will also need to provide documentation of your debts (e.g. via a credit report or letter from your accountant) in order to qualify. 

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Detailed instructions for preparing a signed message

1. Prepare the following message for signature:

I, <Signatory Name>, certify under penalty of perjury that <Investing Entity Name> is the sole owner of the cryptocurrency address associated with this message as of <Today's Date>.

Replace the angle brackets with your name, the name of the investing entity, and the date.

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2a. Signing the message - ETH

For Ether, use MyEtherWallet's message signing tool

Paste the message into the text field.

Select your wallet provider. (In this example, we use MetaMask.)

Click 'Connect'. Then, click 'Sign Message' to sign and approve the transaction. (There is no cost.)

Here is an example signed message:

2b. Signing the message - BTC

For Bitcoin, most wallets implement the ability to sign a message with your Bitcoin address’ private key. See this tutorial about how to sign a messaging with a blockchain.info wallet. See here for Jaxx wallet.

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3. Submitting

Create a document with the message you signed, address, and message signature (sample information provided below):

A. Message:

I, John Smith, certify under penalty of perjury that I am the sole owner of the cryptocurrency address associated with this message as of Dec. 13, 2017.

B. Address

1UsRE3sak3u7qNaQ8Y1X4UmQS93qruLMt

C. Signature

IEXlF8laYLp1ZdQbIxWcXvQdt7d/0TyKLqKMNoTdpqCXG7LLm6upe4wjl6q9ZAtHc4paw9LqP8CudBNyOEwt1mo=

You can upload this information via the CoinList sale registration process or email the information to our team at team@coinlist.co.

In the event that your funds are spread across multiple wallets, you will need to include a signed message from each address.

Also, remember to provide documentation of your debts (e.g. via a credit report or letter from your accountant).

Qualified purchasers as defined by the US Securities and Exchange Commission are individuals with at least $5M in investments or funds with at least $25M in investments.

Accreditation can take up to 72 hours, though it’s usually much faster. You can see the status of your accreditation application here.

Please contact team@coinlist.co with any accreditation specific inquiries.

Your SSN is required under our KYC/AML policy, a process set by our banking provider. We verify US investor's social security number and birthdate against credit records then verify the investment signatory against OFAC and similar databases to flag prohibited or high risk persons and entities.

All questions can be sent to team@coinlist.co.