Hi guys any advice is really appreciated! I've been trying to make a test purchase of 0.2 Bitcoin from coin mama which on my searches is a relatively trustworthy site. I've gone through the verification process and submitted to buy the coin but now I have an email saying they want a video of me holding my credit card and reading just the last 4 numbers out. They said I can cover the remaining digits. This sounds so so dodgey to me but I've tried buying coin from 2 other sites now and they all want wire transfer which is nearly impossible for me due to work hours.
Shall I send them the video or is my identity being slowly stolen here!
Thanks!
go to another site.
Coin Mama is an unknown one and you can find others that will only require pictures at most, and that are more trustworthy than Coin Mama.
Demanding you to do a video of you for 0.2 BTC is too much, in my opinion
Yeowza...gotta go with jaberwock here. The site looks nice enough, and that practice (sadly) is becoming more and more common amongst those exchanges wishing to 'comply' with pending US regulatory framework. That being said, your also paying quite the premium for those coins on coinmama ($59.95/USD for 0.20/BTC)? I'll give ya that deal all day long :p
Quite a few sites are starting to use a tiered sort of verification process. In other words, the more your willing to provide them with the greater your daily purchase limit increases (i.e. Coinbase).
I have to agree that requiring an actual video seems a bit over the top but I guess they are worried about photo doctoring or something along those lines.
