Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsCheck the request inside the exchange’s official account or app, identify whether it asks about a particular deposit or your broader wealth, then submit authentic records that connect the stated source to the transfer. Requirements vary by exchange, account, and jurisdiction, so follow the exact request and its stated submission route.
What “proof of funds” means
Exchanges may use “proof of funds” informally to ask how money or crypto involved in a transaction originated. They may also distinguish between source of funds (SOF)—where the money for a specific transaction came from—and source of wealth (SOW)—how you accumulated your wealth overall. Kraken gives examples including income, savings, investments, property, and inheritance. Kraken explains the distinction and examples.
A transfer receipt may show the immediate source of one deposit without explaining how you acquired the assets in the first place. Read the request carefully and address each question it asks.
How to respond
- Verify the request and deadline. Sign in by navigating to the exchange’s official website or app yourself. Confirm the request, note its deadline and requested date range, and use the submission channel it specifies. Kraken describes additional-information requests as part of security and regulatory processes; its support page explains why it may ask for more information. Coinbase directs customers to submit documents through its secure portal: Coinbase’s proof-of-funds guidance.
- Pin down what the exchange needs to establish. Is it asking where a particular deposit came from, how you originally acquired crypto, how your wealth was accumulated, or more than one of these? Make a note of each part so your response addresses it directly.
- Write a short, factual timeline. State the source, relevant approximate dates and amounts, and how the money or crypto moved into the exchange. For example: salary deposited into a bank account, funds used to buy crypto, then a withdrawal to the exchange. Include only details you can support; there is no universal required format.
- Choose records that support both the source and the route. Select documents relevant to the question, able to identify you or your account, covering the needed dates, and consistent with one another. Use the examples below as a guide, not as a promise that a particular document will be accepted.
- Reconcile the details before sending. Compare names or account identifiers, dates, amounts, bank or exchange entries, wallet addresses, and transaction records. Binance advises that supporting evidence should be consistent with exchange statements, blockchain records, or tax documents. See Binance’s source-of-wealth document guidance.
- Submit securely and keep a copy. Use only the official route specified in your account or by verified support. If the request is unclear, contact the exchange through its official support channel and ask which document, transaction, or date range is missing. Keep a copy of what you sent and any confirmation.
What documents do I need?
The right evidence depends on the origin you describe and the exchange’s request. These examples reflect documents mentioned in official exchange guidance; they are not universal requirements.
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| Claimed source | Potential supporting records | What to connect |
|---|---|---|
| Employment income | Recent payslips, bank statements showing salary deposits, tax documents, or an employer letter, depending on the exchange and case. Kraken and Coinbase list examples in their guidance: Kraken and Coinbase. | Show how income reached the bank or account used to acquire or transfer the funds. |
| Savings or investments | Savings, brokerage, investment, or retirement-account statements. Kraken also lists tax filings and pension award letters as examples relevant to wealth. | For a particular transfer, include its transfer record as well as evidence of the balance or how it accumulated, if requested. |
| Inheritance or transfer of assets | Legal documents showing the inheritance or asset transfer, with bank evidence where relevant. Kraken’s examples include inheritance-related evidence. | Explain how the legal transfer relates to the funds deposited. |
| Sale, rental, business, or freelance income | Sale or lease documents, invoices, business records, bank statements, and tax documents as relevant. Kraken and Coinbase describe source-specific evidence in their guidance. | Choose records that identify the seller or owner and show proceeds or the payment path. |
| Crypto from another exchange or hosted wallet | An exchange statement or transaction records identifying you and the wallet address, as described by Coinbase. | Show the withdrawal from the sending service and, where available, the corresponding receiving transaction. |
| Crypto from an external or unhosted wallet | Wallet transaction history with dates, transaction type, currency, amount, and wallet address, plus an identifier such as your name or email. Coinbase also lists crypto tax reports as possible supporting history. | If asked about origin, explain how you originally acquired the crypto; the last wallet transfer alone may not establish that. |
| Mining | Mining payout statements or other records confirming mining activity or equipment ownership, as listed in Kraken and Coinbase guidance. | Add the later sale or transfer record if the crypto moved through another platform. |
| Funds already held at the exchange | Kraken says to provide evidence of how funds were earned and a record showing funds or crypto transferred into the account. A single bank statement may sometimes show both salary deposits and transfers. | Treat this as an example, not a guarantee that one statement will meet every request. |
How to prove where your crypto came from
For crypto, distinguish the movement of assets from their origin. A blockchain record or exchange withdrawal can help show when and where crypto moved. If the exchange asks how you acquired it, add records for the earlier step too—for example, a purchase history from the exchange where you bought it, or records supporting mining or another stated source.
Coinbase’s guidance for external-wallet crypto describes transaction history containing dates, transaction type, currency, amount, and wallet address, along with identifying information. It also names crypto tax reports, including reports generated by software such as Koinly or Blockpit, as possible supporting records. These are examples, not required purchases or assurances of acceptance. Check Coinbase’s current document examples.
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If your history is complicated or a record is missing
Several sources or a long history
Organize the explanation by source and attach the records available for each part. Kraken notes that evidence for multiple events or income streams can help, and that layered business ownership or histories spanning multiple years and jurisdictions can take more work to document. Kraken’s source-of-wealth and source-of-funds guidance describes these situations.
A record no longer exists
Say plainly which record is unavailable and why, if you know. Identify what you can provide instead, then ask the exchange through official support whether it is useful. Do not alter statements, invent transaction history, or present an estimate as a documented fact.
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Mistakes that can weaken a response
- Sending only a screenshot of your current exchange balance. A balance may not show how the assets were acquired or transferred, which is what the request may concern.
- Confusing source of funds with source of wealth. Evidence for one deposit may not explain how your overall wealth was built.
- Leaving mismatches unexplained. If names, dates, amounts, or account details differ across records, explain the discrepancy rather than assuming it will be obvious.
- Assuming one exchange’s checklist applies to another. Requirements and examples vary; follow the request for your account and jurisdiction.
- Using an unofficial upload link. Navigate to the exchange independently and use its account or verified support channel. Coinbase identifies its secure portal as its document-submission route.
Does a request mean you did something wrong?
Not necessarily. Kraken Support says: “This does not mean you have done anything wrong!” Its guidance explains that it may request source-of-funds or source-of-wealth documents because of a customer’s country or circumstances, including being a student or unemployed. Read Kraken Support’s explanation.
There is no established universal statistic in the cited exchange guidance for how often exchanges make these requests or how often particular documents are accepted. Treat the request as a case-specific documentation question and get clarification from the exchange if needed.
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