Buying Crypto for the Company: Everything That Went Wrong First

I had bought crypto personally dozens of times. Doing it for the company took three weeks and four separate failures.

Failure one: the transfer came back

I used the app I already had, sent money from the company account, and it was returned four days later.

The account was verified in my name. The money came from the company. Different names, so the platform treated it as a third party payment and rejected it. For anyone in the same position, a fiat to crypto exchange sets out the same terms without requiring an account.

Obvious in hindsight. Not obvious at the time, and it cost four days plus a return fee.

Failure two: the onboarding I had not started

Opening a corporate account meant supplying the incorporation certificate, a register extract, articles, identity documents for both directors, and a description of the business.

I had none of it to hand. Collecting it took a week because one document had to be ordered from the registry.

If I had asked for the list before applying, everything would have gone in at once.

Failure three: the limit

I declared an expected monthly volume conservatively, thinking a low number looked sensible.

The platform set my limits from that number. The first real purchase exceeded it and triggered a review that took three days. The company version of this is different, and a fintech payment gateway is what it points at.

Declare honestly and slightly above your realistic maximum. Raising a limit later is another review.

Failure four: the invoice

The confirmation email was not an accounting document. Our bookkeeper needed the company details, the fee separated from the purchase, and a reference matching the bank statement.

The platform produced a CSV export with a single blended figure. Someone had to reconstruct the split.

I have since learned to ask for a sample invoice before opening an account, which takes a provider a minute and saves an argument every month.

What I would do now

Ask three questions before applying: what is the document list, can you settle to an account in the company’s registered name, and can I see a sample invoice.

Then do the onboarding before I need the capacity, complete every verification tier, and do a small test purchase and withdrawal when nothing depends on it. On the buying and selling side, the list of countries covered publishes its fees and account terms in full.

The whole thing would have taken four days instead of three weeks.