The full Qoin registration process involves 10 steps:
STEP 1 – DOWNLOAD THE QOIN WALLET
Download the Qoin Wallet from the Apple or Google Play Store.
STEP 2 – REGISTER – PERSON ID
Using Qoin Wallet App
STEP 3 – VERIFY YOUR IDENTITY – Know Your Customer (KYC)
About You – Name DOB, Address, Drivers Licence
Proof of your identity – Upload Driver Licence, Passport or Identity Card
STEP 4 – CREATE AND BACKUP YOUR WALLET AND RECORD YOUR SEED PHRASE
IMPORTANT – Please ensure you backup your wallet, record your ‘Seed Phrase’ and store it in a secure place
The Qoin Wallet has a 3-Stage secure back-up process. It is IMPORTANT to back-up your Wallet and write down your unique 12 word ‘Seed Phrase’. ***Your 12 word seed phrase MUST be written down and stored in a safe offline place and in at least three different places. If you do not store your seed phrase and change mobile device, you have the potential to lose Qoin you already have. Your Agent or Qoin Support can provide you with a ‘Seed Phrase’ Record Sheet for one or multiple Wallets. The ‘Seed Phrase’ is used if you need to transfer your Wallet to a new device or lose your device.
If you have lost your Seed Phrase, you lose all access to the Wallet and your Qoins! We are not able to reset or transfer the funds if the Seed Phrase is lost.
STEP 5 – MERCHANT REGISTRATION – Business ID
Using your Qoin Wallet – select MERCHANT REGISTER
NZBN, Business Name, Turnover, Business Address and Phone Number.
STEP 6 – DIRECTORY LISTING
Using Qoin Wallet App or https://shop.qoin.world/
Business name, listing spiel, 3 photos, hours of operation, address, contact numbers and location. The directory listing will remain as a DRAFT until the Merchant complete KYB!
STEP 7 – VERIFY YOUR BUSINESS IDENTITY – Know Your Business (KYB)
Qoin is a reporting entity in New Zealand so BPS is required to verify the following for each Merchant that registers with Qoin.
– NZBN Registration
– Entity Structure
– Beneficial Owner/s
If further information is required from the Merchant, Qoin Support will send an email to the Merchant advising them of any additional information that is required. Businesses are required to pass KYB to be a Qoin Merchant and list their business in the Qoin Directory.
STEP 8 – DIRECTORY LISTING IS PUBLISHED
STEP 9 – QOIN FUNDING
Q Reward Qoin, Packages and Blocks.
STEP 10 – QOIN TRANSACTING
Sending or receiving Qoin as a Qoin Merchant or Consumer.
Want to know how to transact with Qoin? Visit our ‘How to transact’ page here >>