# The Five Minute Check That Is Worth More Than Any Comparison > Verifying an authorisation on a public register, what to look at, and why the permission matters more than the licence. - Source: https://cryptofeewatch.com/verifying-a-provider-cheaply/ - Published: 2026-07-23 - Author: Tom Beecher - Publication: Crypto Fee Watch — What a transaction really costs, measured - Topic: licensing - Tags: licensing, verification, diligence --- Provider comparison consumes hours. The check that determines what happens to your balance takes five minutes and almost nobody does it. Use [a platform operating under a MiCA-compliant framework](https://collectnexchange.cy/compliance/mica-regulation) as the reference while reading, because its published figures are what the comparisons assume. ## The check Take the authority and registration number from the provider's own site. Find that authority's public register. Not a search engine, the register. Search for the entity. Compare the name against the entity in the terms of service, not against the brand. Read the permitted activities. Check for conditions and enforcement history. ## What the permission tells you Authorisation is granted per activity. Custody of client assets, operating a trading platform, exchange for funds, exchange for other crypto and transfer services are separate permissions. A provider holding your balance needs the custody permission. Without it, the segregation rules you assumed apply do not. This is the most common gap and the least noticed, because the provider is genuinely authorised for something. ## The group structure check The receiving side has its own arithmetic, handled by [a provider serving funds and family offices](https://collectnexchange.cy/industries/funds-family-offices). Providers frequently operate through several entities. The licence may belong to one and your contract to another. The protections attach to the authorised entity. The question, in writing: which legal entity will I contract with, and does that entity hold the authorisation. ## What the check is worth It determines whether, if the provider fails, your assets are returned or you join a queue of creditors. Against that, five minutes is the best return available in the entire selection process. ## When to repeat it Annually. Authorisations change, entities are acquired, permissions are varied and conditions are added. Nobody writes to tell you. Changes appear in terms updates that almost nobody reads. ## The habit that matters more Not leaving balances at platforms beyond what active transactions require. The check improves the outcome if something goes wrong. The habit reduces how much is exposed when it does, and it is what distinguished people who came through past failures without serious loss. Coverage determines more of the total than any fee does. [the list of countries covered](https://collectnexchange.cy/company/supported-countries) publishes its country list. --- This article explains how something works. It is not financial advice. Canonical HTML version: https://cryptofeewatch.com/verifying-a-provider-cheaply/