While I never had issues with them though as I had my account verified on their platform, I think other platforms such as Luno are following suit as well.
Ultimately if you dont wanna comply, they have the authority over your funds since the TOS puts you at their mercy.
Topic: Be aware of UPHOLD (Read 117 times)
i once registered on uphold in at attempt to trade commodities, particularly oil, but when I took time and read their terms of service, I gave up on the whole idea. it's good that you didn't have any funds in there. Look for alternatives that still don't have strict KYC/AML policies if you want to trade.
It's make sense why they're block your account since they have a rule to ask your identity, although the information that they ask is really far than it does. This is the reason why anyone shouldn't use centralized exchanges if they're can't send any KYC that the exchanges demanded.
I wouldn't call this is a legit scam accusations, but it's more like a warning for anyone before using this exchanges.
Perhaps the origin of your funds somewhat had a connection with Russian citizens.
I wouldn't call this is a legit scam accusations, but it's more like a warning for anyone before using this exchanges.
Perhaps the origin of your funds somewhat had a connection with Russian citizens.
4.2
You must comply with anti-money laundering obligations in order to open an Uphold Account. This will require you, as part of the registration process, to provide personal details and supporting documents (including your full name, residential address and postcode, mobile number, email address, date of birth, and certain forms of identification), and other evidence and documentation we may ask you to provide, so that we may verify your identity.
4.3
We reserve the right to require you to provide us with additional information in order to verify your identity and/or require you to undergo a background check prior to being authorised to use Uphold’s or its affiliates services, or at any point thereafter, in accordance with applicable laws and regulations. You acknowledge and agree that we may make any inquiries that we consider necessary, either directly or through third parties, concerning your identity and creditworthiness including, without limitation, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying information against third party databases or through other sources. These inquiries and verification may involve the sharing of certain aspects of your information with third parties for the limited purpose of completing these inquiries and verification.
You must comply with anti-money laundering obligations in order to open an Uphold Account. This will require you, as part of the registration process, to provide personal details and supporting documents (including your full name, residential address and postcode, mobile number, email address, date of birth, and certain forms of identification), and other evidence and documentation we may ask you to provide, so that we may verify your identity.
4.3
We reserve the right to require you to provide us with additional information in order to verify your identity and/or require you to undergo a background check prior to being authorised to use Uphold’s or its affiliates services, or at any point thereafter, in accordance with applicable laws and regulations. You acknowledge and agree that we may make any inquiries that we consider necessary, either directly or through third parties, concerning your identity and creditworthiness including, without limitation, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying information against third party databases or through other sources. These inquiries and verification may involve the sharing of certain aspects of your information with third parties for the limited purpose of completing these inquiries and verification.
Thanks for making us aware of this, I checked the internet for complaints against them and I find a lot of complaints on review sites like these
https://bittrust.org/uphold
https://www.trustpilot.com/review/uphold.com
They also have one accusation here back in 2018 Uphold.com is the new Mt. Gox but there was no update on the complainant, for those who are about to use UPHOLD check all the warnings first before trading here.
https://bittrust.org/uphold
https://www.trustpilot.com/review/uphold.com
They also have one accusation here back in 2018 Uphold.com is the new Mt. Gox but there was no update on the complainant, for those who are about to use UPHOLD check all the warnings first before trading here.
If you are buying BTC throughout an exchange, be aware of UPHOLD. I had an account with them until just right after the war in Ukraine began. In March, they went nuts and started asking questions about public keys where I had sent BTC from the exchange, the origin of my funds, information about my employer, and other that would have revealed personal information about people I have economic relations with and that is absolutely nuts. Actually, it is illegal in the European country where I live, as it probably is in any EU country to reveal such information, as it is protected by personal data protection laws. They did not care. I refused to provide such information because I could be legally liable for that information release, but they did not care. They kept on asking for it and, finally, they blocked my account.
I had no funds in that account, but if I had had, guess what… I could have never recovered my BTC or my fiat. I do not hold anything in exchanges, and I hope serve to others who still trust exchanges. DO NOT! Remember, not your keys, not your coins!
So, be aware of UPHOLD. Look up for other options. There are plenty. UPHOLD is just a shitty exchange sold to the interests of who knows what government or country (probably UK or some other Baltic Republics that have gone absolutely nuts with the war in Ukraine).
I had no funds in that account, but if I had had, guess what… I could have never recovered my BTC or my fiat. I do not hold anything in exchanges, and I hope serve to others who still trust exchanges. DO NOT! Remember, not your keys, not your coins!
So, be aware of UPHOLD. Look up for other options. There are plenty. UPHOLD is just a shitty exchange sold to the interests of who knows what government or country (probably UK or some other Baltic Republics that have gone absolutely nuts with the war in Ukraine).
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