How to Access the Amplify Exchange Fiat Gateway by Upgrading To a Level 2 Crypto Trader
Hello and welcome back to this educational series teaching you how to use the features available to you inside Amplify Brokerage, the first product to be delivered by Amplify Exchange. In this video we will show you how to gain access to the Amplify Fiat Gateway by becoming a Level 2 Trader.
If you have been following along in the series you have already successfully onboarded, secured your account, funded your account with a cryptocurrency, and made your first Commission Free Trade.
At one point or another every trader needs to utilize a fiat gateway to get money into crypto or out of crypto. Very few exchanges do this properly making it easy for the end user. Exchanges like Coinbase do this well but their trading fees for this service are higher than we would all like. That is why at Amplify Exchange we are the first exchange to release a No Commission Trading structure globally.
In order to access the Amplify Fiat Gateway you need to become a Level 2 trader. There are two ways to accomplish this, the first is during Initial Onboarding and was covered in an earlier video, in this video we will be showing you how to Upgrade your Level 1 trader status to Level 2.
Starting at the Amplify Exchange home-page, https://amplifyexchange.com, click the Sign In Button at the top right…
Enter your email and password and click Continue. Assuming you’ve followed along and secured your account with 2FA enter your 2FA code from your authenticator app. If you have not setup 2FA you will be automatically logged in but we recommend you setup 2FA now to secure your account.
You are now logged into Amplify and land on the Portfolio page. You can see here that next to USD there are no buttons for Deposit or Withdrawal because you are not authorized to use those functions yet. Even Level 1 traders can trade against USD if they are looking to Hedge their position but may not deposit or withdrawal fiat without completing Level 2 onboarding.
In the notification bar at the top click “Get Verified for Higher Limits” and you will be taken to the Account Settings screen.
On the left hand side you see your current Verification Status as Level 1 and you can see what your limits are. Click the “Increase Level” button within that panel. You will be shown what benefits an increase to Level 2 will get you, simply click the Continue button to proceed.
Next we need to upload some documentation to verify your identity and address. Once the screen opens you will be presented with some terms, just click I Agree to move to the next step of the process.
Select which type of government issued identification document you would like to use. You can use your Drivers License, Government ID card, or Passport. Once you have selected which type you are using click Next.
On the next screen you have two choices for how you upload your ID. You can either use your webcam which is the default or upload a document. If you want to use the webcam when the alert box pops up asking you to Allow the use of your webcam just click “Allow”. If you want to upload a copy of your ID saved on your computer just click “Don’t Allow”.
In this example we will be uploading a Drivers License which is blurred for the security of the tester in this video. Once you have uploaded the document using either method the onboarding wizard will automatically take you to the next screen.
Ok one more step and you will be all set! The next thing you need to upload is address verification in the form of a Bank Statement, Utility Bill, or Tax Bill. Select which one you want to use and click the “Next” button. In this example we will be using a Utility Bill.
You will be given some tips again for making sure the document can be read and upon clicking next you can drag and drop the document into the frame or browse for it by clicking in the center of the frame. Once you have done this you will see a preview of the document, just click Continue.
Now all you have to do is wait! If everything is easily readable you can expect a response in about a minute but times can run as high as 5 minutes in some instances. This is instant verification so you will be ready to use fiat services at the end of this short process.
Once you are given your status the wizard will redirect to a survey screen, you can fill this out or skip it using the button at the bottom.
Now that you are verified as a Level 2 trader click the Continue button…
You now have access to Deposit or Withdrawal fiat currency such as US dollars with Amplify Exchange. You can see your higher trading limits on the Account Settings Screen and see the Deposit & Withdrawal buttons are now available from the Portfolio page and you can easily go ahead and deposit or withdrawal US dollars now. We will cover how to Add a Bank Account and how to perform Deposits & Withdrawals in a later video so stay tuned to this channel.