In the world of digital asset trading, proving the legitimacy of your funds is a critical step toward ensuring compliance and transparency. This process typically involves two key components: Source of Funds (SoF) and Source of Wealth (SoW). Understanding the distinction between these concepts—and how to properly verify them—is essential for maintaining a secure and compliant trading account.
Understanding Source of Funds (SoF)
Source of Funds (SoF) refers to the specific origin of the money or digital assets you transfer into your trading account—such as your OKX account. It focuses on the immediate transaction or inflow, detailing where the particular funds used for depositing came from.
Common examples include:
- Salary or wage income
- Proceeds from selling property or vehicles
- Loaned or borrowed money
- Gifts or inheritances
- Transfers from other exchanges or wallets
👉 Discover how to securely verify your fund sources today.
Key Points to Remember:
- If you have multiple sources, select the one that is most recent and primary.
- If you used personal funds to purchase crypto from someone else, you must provide proof of your original fund source, not the seller’s asset details or a simple deposit screenshot.
Real-World Examples:
- Salary Income: Choose “Salary” as your SoF and submit supporting documents like a recent payslip, employment contract, or bank statement showing salary deposits.
- Asset Sale: If you sold real estate and transferred the proceeds, select “Asset Sale” and provide the sale agreement or tax documentation confirming the transaction.
Understanding Source of Wealth (SoW)
While SoF looks at individual transactions, Source of Wealth (SoW) takes a broader view. It refers to the overall means by which you’ve accumulated your net worth over time. This could include long-term employment, business ownership, investment returns, inheritance, or entrepreneurial ventures.
SoW helps platforms understand your financial background and assess whether your trading activity aligns with your known wealth profile.
Examples of SoW include:
- Long-term career earnings
- Profits from running a business
- Investment gains from stocks, bonds, or real estate
- Inherited assets
Platforms use SoW assessments not to scrutinize every trade but to ensure consistency and prevent illicit financial flows.
Why Are SoF and SoW Verification Required?
Digital asset platforms like OKX are committed to creating a safe, transparent, and compliant trading environment. To combat money laundering, fraud, and other financial crimes, regulatory standards require users to verify their identities and fund origins.
When prompted to complete SoF/SoW verification:
- You're helping protect your own account from unauthorized access.
- You're supporting global anti-financial crime efforts.
- You're ensuring uninterrupted access to your trading features.
🔔 Important: Failure to complete verification by the specified deadline may result in restricted account functionality.
How to Access the Verification Form
You can easily find and complete the SoF/SoW questionnaire through either the mobile app or web platform.
On Mobile App:
- Tap "Please provide information" on the homepage, or
Go to:
- Top-left Profile Icon → Profile Picture → Profile → Identity Verification → Verify Now
On Web Platform:
- Click your Profile Icon in the top-right corner
- Navigate to Identity Verification
Once there, follow the prompts to select your fund and wealth sources and upload required documents.
How to Submit Valid Proof Documents
To ensure fast and successful verification, adhere to these guidelines:
- ✅ Use the latest version of the OKX app for optimal upload performance.
- ✅ Ensure all documents are clear, complete, and legible—no cropped edges, blurriness, or遮挡.
- ✅ Provide accurate and up-to-date information reflecting your current financial status.
- ✅ Submit fully signed and dated contracts or letters with official seals and letterheads where applicable.
- ✅ Make sure any monetary amounts and dates are clearly visible.
Acceptable Document Types by Category
Below is a comprehensive list of acceptable proofs based on different SoF/SoW categories. Always match your submission to your actual financial situation.
💼 Salary Income
- Recent payslip (within 3 months)
- Employment contract
- Bank statement showing salary credits
- Tax return showing employment income
🏢 Business Ownership / Self-Employment
- Business bank statements (last 3 months)
- Tax filings (personal or corporate)
- Audited financial statements
- Sales invoices or service agreements
- Business license (must be paired with recent income proof)
🎁 Gifts or Inheritance
- Notarized will or inheritance certificate
- Court-issued probate documents
- Gift letter from donor (must include amount, relationship, reason, and donor’s wealth source)
- Bank transfer record showing the deposit
🔄 Transfers from Other Exchanges
- Official withdrawal statement from source exchange (PDF preferred)
- Transaction hash showing transfer to OKX
- Exchange account dashboard screenshot (with name/email visible)
- Proof of sale receipts if assets were sold externally
🏠 Sale of Physical Assets
- Sales contract for property, vehicle, or valuable items
- Bank statement showing proceeds received
- Government tax clearance or capital gains documentation
📈 Investment Returns
- Brokerage statements (stock, ETFs, mutual funds)
- Retirement account summaries
- Dividend payment records
- Tax documents showing investment income
⛏️ Crypto Mining Income
- Mining pool payout statements (e.g., Nanopool, 2Miners)
- Hardware purchase receipts
- Tax records declaring mining income
🏦 Loan or Credit Funds
- Formal loan agreement with lender
- Bank statement showing disbursement
- Peer-to-peer loan records (with signed IOU and transfer proof)
🎰 Gambling or Lottery Winnings
- Official prize notification or lottery ticket
- Tax documents reporting gambling income
- Bank deposit record
🏛️ Government Benefits
- Pension disbursement notice
- Unemployment benefit statement
- Disability allowance confirmation
Practical Examples for Common Scenarios
1. Freelancer Earning via Crypto Payments
If you run a freelance business and receive crypto payments:
- Select "Business Ownership" as your SoF.
Submit:
- A copy of your business registration
- Recent bank statements showing client payments
- Service contracts or invoices
👉 Learn how freelancers can manage crypto income securely.
2. Selling Bitcoin Acquired Through Mining
If you mined BTC and later transferred it to OKX:
- Choose "Crypto Mining" as SoF.
Provide:
- Mining pool payout history
- Equipment purchase invoice
- Tax filing confirming declared income
3. Receiving Funds from Family Members
If a relative gifted you money for investing:
- Select "Gift" as SoF.
Submit:
- A signed gift letter explaining the relationship and intent
- Proof of transfer (bank or digital wallet record)
- Donor’s SoW documentation upon request
Frequently Asked Questions (FAQ)
Q: Is SoF verification only triggered after suspicious activity?
A: No. Verification is part of standard compliance procedures and is not necessarily linked to any specific transaction. It's proactive risk management.
Q: Can I use screenshots instead of official documents?
A: Screenshots are acceptable only when they clearly show required details (e.g., wallet transfers), but official documents like contracts or tax records are strongly preferred.
Q: Do I need to submit both SoF and SoW?
A: Typically yes. SoF explains a specific deposit, while SoW provides context about your overall financial standing.
Q: What if I can’t find the exact document listed?
A: Submit alternative documents that convey the same information. The team will review based on completeness and relevance.
Q: How long does verification take?
A: Most submissions are processed within 1–3 business days. Delays may occur if additional information is needed.
Q: Will my data be kept private?
A: Yes. All submitted documents are encrypted and used solely for compliance purposes under strict data protection policies.
Final Tips for Smooth Verification
- Always keep digital copies of key financial documents.
- Regularly update your profile if your income source changes.
- Reach out to customer support early if unsure about requirements.
👉 Start your secure verification process now and unlock full trading access.
By understanding and fulfilling your SoF and SoW obligations, you contribute to a safer digital economy while ensuring uninterrupted access to your assets. Stay compliant, stay protected.