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A Silo account is created with an email address, confirmed with a verification code. There is no password to remember and no seed phrase to store. The account is the identity layer that your username, receiver preferences, and verification level attach to. Your funds are never held in the account itself; they are always delivered to a wallet you control. Creating an account starts you at the Personal tier with no identity verification required. You can immediately claim a username, set receiver preferences, and start sending and receiving peer-to-peer payments.

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Setting Up

Account setup is five steps. Every choice besides username can be changed later in settings.
  1. Choose your @username. This is how people pay you. Letters, numbers, and underscores, 3 to 30 characters, with real-time availability checking as you type.
  2. Pick your preferred network. The blockchain you want to receive payments on. Senders never see this choice; Silo routes to it automatically.
  3. Pick your preferred asset. What you want to get paid in, from the whitelisted assets available on your chosen network. Senders never see this either.
  4. Add your payout wallet. Where received funds are delivered. Connect a wallet directly (MetaMask, Phantom, Slush, and others) or enter an address manually; manual addresses are validated against your chosen network.
  5. Review and confirm. A summary of your username, network, asset, and wallet before your account goes live.

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Payout Wallet Requirements

The payout wallet must be a self-custodial wallet that you control. Silo delivers funds to it, and only that wallet can authorize withdrawals from the shared vault.
If you enter an address manually, confirm that you hold its keys before continuing. Do not use an exchange wallet such as Coinbase, Binance etc. Funds sent to a wallet you do not control cannot be recovered by Silo.

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Verification Levels

Verification determines your tier, and each tier unlocks lower fees, higher limits, and additional capabilities. Transaction screening (KYT) is applied to every payment on every tier, including Personal. Personal requires only the email used at signup. Personal accounts send and receive peer-to-peer payments with other Personal and Plus users. They cannot buy from merchants or receive payroll. Plus requires KYC verification: a government-issued ID and a selfie, submitted through Sumsub. Verification typically completes within minutes. Plus unlocks lower fees, higher limits, buying from merchants, and receiving payroll. Business requires KYB verification: business registration documents and beneficial ownership information, submitted through Sumsub. Business unlocks the lowest fees, the highest limits, and the ability to accept customer payments (Commerce sub-type) or send payroll (Payroll sub-type). The sub-type is selected during onboarding and locked to the account; businesses that need both can request a review to add a second sub-account. Full details on fees, limits, and capabilities per tier are on the Three-Tier System page. Note that cashing out to a bank account requires verification through the off-ramp flow regardless of your Silo tier; see Cash Out.

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Upgrading

Upgrades are available from within your Silo account. When you initiate an upgrade, you are guided through the verification process for the next tier. Your username, receiver preferences, and transaction history carry over, and the upgrade takes effect as soon as verification is approved.