PDAX Account Verification Update FAQs (pilot run)

Hi there!

As part of our efforts to continuously improve our services, PDAX will be requiring all account holders to go through an account verification update set to take place on February 27, 2023. This update gives you continued access to all our services, and to new products and features that we will be launching soon. 

And as a long time PDAX user, we value your feedback.  We’d like to inform you that you have been granted  early access, so you can experience this enhancement ahead and share your experience with us. 

The process will only take a few minutes, and we even have a few perks in it for you for your participation. 

Here’s what you need to know: 

What is the account verification update?

The account verification update is an essential step for updating our existing user database. The update will also include the following features:  

• To provide easier access, we have recently added a new account level (Level 1 - Basic) which allows users to cash in, deposit crypto, and trade by simply providing the following information:
• Full name
• Date of Birth
• Email address
• Mobile Number
• Along with this, we have implemented a verification update to all current account levels (Level 2 - Verified, Level 3 - Premium, and Level 4 - Prime) to provide an enhanced account and financial risk management feature for our users. Furthermore, this allows us to provide our users a tighter security experience. 
• The update enables users to enjoy more features such as determining your own financial profile, accessing all upcoming PDAX products that we’ll be rolling out soon, plus being able to use a non-fungible token (NFT)/digital collectible for your profile photo.

Will all user levels be required to complete the update?

Yes. Users from all account levels: Verified, Premium, and Prime, will be required to go through the update.

When will the account verification update pilot run take place?

You can participate in the account verification update pilot run from January 31, 2023 until February 12, 2023. 

How do I go through the account verification update pilot run?

To complete the update, you will simply need to access your PDAX account from a web browser. For the pilot run, you will need to use this alternate login link:  https://stage.web.pdax.ph/auth/login. 

1. Log in to your PDAX account using the link. You will be prompted to “Verify your account” to begin the verification update.
2. Review your personal information details and your ID image which will be presented to you. Make sure the information we have in your account  is correct before proceeding.
3. Complete the biometric check.
4. Answer the investment goal questions to generate your financial profile. Take note that proceeding to unlock the next levels, Premium (Level 3) and Prime (Level 4) will require more supporting documents for your financial profile (See table below).
5. Once completed you can log out of the pilot site. 
6. Log back in to your PDAX account on web.pdax.ph and wait for the email confirmation of your verification update within 1 to 2 business days. 

What if I need to change or update the personal information that I currently have in my account?

You can change or update your personal information you provided previously when you created your account such as your name, address, email address and phone number by sending us a support request through our Contact Us form and following the steps below:

1. Select “Account Management” > “Updating my account information” from the list of dropdown options.
2. Fill out all the required information. 
3. Upload a photo/selfie of yourself holding a paper stating your request and the information being updated, along with three (3) specimen signatures. This step is required for security purposes. 
4. Once you have emailed your account information update request, our account management team will validate your information. You can expect your account to be updated within three (3) to five (5) business days.

What are the requirements for completing the verification update for each user level ?

The table below shows each account level’s requirements:

*Previously provided to PDAX

Why will I be asked for my financial information?

The financial information you share helps with your financial status and risk appetite assessment. By knowing your financial situation, we can offer products and services that are more suited for your needs. 

Can I update my account while I am abroad?

You can process your verification update even while you are outside of the Philippines, as long as they are not within restricted regions or in countries with local government restrictions with the use of cryptocurrencies. For the list of unsupported regions please refer to this link.  

After successfully completing the pilot run update, do I need to go through account verification again once it launches? 

No.  Users who successfully update their account verification in the pilot run will no longer need to verify again when we launch on February 27.

Are there perks to participating in the pilot run ?

Yes! After completing the account verification update , you will be airdropped a free NFT or digital collectible from the upcoming “Legendaries for PDAX” collection, which you can also use as a profile picture for your account. What’s more, users who participate in the pilot are guaranteed to receive a rare collectible!  

How do I claim my NFT/Digital Collectible? 

After confirming your account verification update, we’ll be sending you an email with more details on how to claim your digital collectible. 

I need assistance in updating my profile. Who can I reach out to?

For any inquiries or needed assistance, you may contact one of our Customer Success Representatives through this link.

DISCLAIMER: PDAX is regulated by the Bangko Sentral ng Pilipinas (BSP). You may contact the BSP through consumeraffairs@bsp.gov.ph. The statements in this article do not constitute financial advice. PDAX does not guarantee the technical and financial integrity of the digital asset and its ecosystem. Any and all trading involving the digital asset is subject to the user’s risk and discretion and must be done after adequate and in-depth research and analysis.. In addition, any and all personal information you provide PDAX shall be covered by the terms of our Privacy Policy at https://pdax.ph/privacy-policy.