BitPay -- KYC is here! - page 3. | Bitcointalksearch.org

squatter

legendary

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STOP SNITCHIN'

Although BitPay's policy states that the KYC threshold for refunds is ≥ 1000 USD, anecdotal reports are now emerging that suggest the threshold is lower:

Quote from: The Sceptical Chymist on January 15, 2021, 12:46:02 AM

Quote from: squatter on January 15, 2021, 12:42:45 AM

Quote from: The Sceptical Chymist on January 14, 2021, 06:59:19 PM

Today I had to get a refund from Bitpay for an invoice that they fucked up and they made me go through full KYC procedures in order to get that refund (which still hasn't arrived).

Was the amount over $1,000 or have they lowered the KYC threshold?

No, it was much lower than $1000.

It isn't clear whether this is a US-specific policy or something else. Either way, beware of BitPay if you intend to avoid KYC! You may be forced to give up your ID documents if they screw up and need to refund you.

PrimeNumber7

copper member

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Amazon Prime Member #7

Quote from: Marckolind on November 19, 2019, 03:45:59 PM

KYC seems to be enforced anywhere, where serious money is being moved. Thank God you can use DEX's to trade still without KYC, because sooner or later, you wont be able to trade anywhere without sharing all your personal details. It sucks, but just goes to show that crypto isn't what it used to be anymore.

I've been trading on the Blocknet DEX for a while, and I'm sure more and more people will make use of these DEX's in the future. Which got me thinking, perhaps you could make a decentralized payment gateway as well? We'll see I guess! Grin

Anyone can create a DEX and the barriers to entry are low, including the requirements of trust and I don’t think it would be difficult to run a DEX anonymously. For these reasons, I don’t think there will ever be a time there is no DEX that will not allow KYC free trading.

imstillthebest

full member

Activity: 1638

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Quote from: Jaspion on November 22, 2019, 10:02:24 PM

Quote from: nelson4lov on November 21, 2019, 12:57:31 PM

The problem with KYC is the fact that it goes against everything bitcoin stands for.

Totally agreed, that's sad.
We have to hope that regulations around KYC in crypto will be changing.
Govs want to know more about crypto traders but services should protect personal data of their users in order to keep users interest in crypto.
So services should use all their power to prevent govs from killing last privacy in crypto.

of course they would keep your data's and private info safe as long as they are not a shady/scammy company but company like bitpay is pretty popular and already gain reputation from the public so we must afraid to submit our kyc's with them only if we are really willing to use thier service .

govt's dont kill crypto but im aware that there are govt's that banned crypto for some reason however there are still govt's left that also want the best for crypto's in the way that they support it and promote it .

AitorMarcos

newbie

Activity: 61

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Quote from: Marckolind on November 19, 2019, 03:45:59 PM

I've been trading on the Blocknet DEX for a while, and I'm sure more and more people will make use of these DEX's in the future. Which got me thinking, perhaps you could make a decentralized payment gateway as well? We'll see I guess! Grin

For sure most of the exchange services will force users to share personal data anyway.
However, I think at the end of the day it will lead to illegal activites (e.g. Y person shares his personal data with BitPay, Z person makes a transaction to Y, so Y trades coins to USD and takes 10% - you get the point)

Jaspion

newbie

Activity: 38

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Quote from: nelson4lov on November 21, 2019, 12:57:31 PM

The problem with KYC is the fact that it goes against everything bitcoin stands for.

Totally agreed, that's sad.
We have to hope that regulations around KYC in crypto will be changing.
Govs want to know more about crypto traders but services should protect personal data of their users in order to keep users interest in crypto.
So services should use all their power to prevent govs from killing last privacy in crypto.

nelson4lov

hero member

Activity: 2100

Merit: 794

Top Crypto Casino

It's nothing new. Almost all service providers and exchanges in the crypto sphere has added the option for KYC. Some compulsory and others not mandatory. I knew KYC were one of the changes we would see this year and it happened exactly as predicted. If the biggest exchanges can succumb to regulatory policies. The problem with KYC is the fact that it goes against everything bitcoin stands for.

coupable

hero member

Activity: 2338

Merit: 757

Quote from: Marckolind on November 19, 2019, 03:45:59 PM

Thank God you can use DEX's to trade still without KYC,

Infortunetly, it's not garanteed that a DEX would not ask users for personal information. Many "called" decentralised exchanges forced KYC during 2019.
Crypto-bridge as exemple forced KYC without any notice to both new and old users, there should be many users who had their accounts frozen. Also IDEX forced KYC in a soft way, upon to withdraw limits.
Maybe you still have a good experience with your prefered DEX but your first sentence is absolutely true :

Quote from: Marckolind on November 19, 2019, 03:45:59 PM

KYC seems to be enforced anywhere.

Marckolind

jr. member

Activity: 352

Merit: 3

KYC seems to be enforced anywhere, where serious money is being moved. Thank God you can use DEX's to trade still without KYC, because sooner or later, you wont be able to trade anywhere without sharing all your personal details. It sucks, but just goes to show that crypto isn't what it used to be anymore.

I've been trading on the Blocknet DEX for a while, and I'm sure more and more people will make use of these DEX's in the future. Which got me thinking, perhaps you could make a decentralized payment gateway as well? We'll see I guess! Grin

malevolent

legendary

Activity: 3472

Merit: 1721

Quote from: ?? on ??

hi. Do you think it's worth accepting bitcoin payments for small businesses?

Unless you really must, I'd use a different service, one which doesn't make it harder to pay for the user, one which doesn't block entire countries or dare ask buyers for KYC.

bitcoin-shark

hero member

Activity: 2898

Merit: 605

unfortunately, is the sad reality, slowly all the centralized exchanges will introduce the verification of the identities (kyc), pushing the majority of users towards decentralized exchanges (dex)...

gentlemand

legendary

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Welt Am Draht

Quote from: TryNinja on September 11, 2019, 05:34:03 AM

Another one... Anyone still thinking using BitPay is a good idea? Wink

Since Bitpay uses banks it's just the same as... using banks.

Anyone who thinks just because they have a slice of Bitcoin in their name means they're permissionless and radical is a tosser. They're just another corporation.

TryNinja

legendary

Activity: 2758

Merit: 6830

Quote

BIG THANKS to HKFP's supporters who donated HK$14,817 in Bitcoin since 2015.

However, cryto donations are temporarily suspended as
@BitPay
has refused to transfer
@hongkongfp
's donations for 3 weeks without good reason.
@spair

@BitPaySupport

https://mobile.twitter.com/tomgrundy/status/1171657974043074562

Another one... Anyone still thinking using BitPay is a good idea? Wink

Hongkongfp = Hong Kong Free Press.

swirl

newbie

Activity: 47

Merit: 0

strange i dont have that button "continue as guest", im in EU located
im currently in situtation where can make transaction request (uploading/selling BTC for FIAT) in Skrill but not able to see invoice
and thats why cant complete this process

Raja_MBZ

legendary

Activity: 1862

Merit: 1505

Quote from: swirl on August 26, 2019, 10:29:08 AM

Quote from: Raja_MBZ on August 18, 2019, 12:33:35 PM

Has someone around tried to use BitPay multiple times with the maximum "continue as a guest" limit? Like three purchases of $2999 each (equivalent to $8997) in a single day using the same IP address? If it works, it can help the users depositing BTC to services like Skrill/Neteller with no KYC requirement.

i dont have option "continue as a guest", have only "continue"
happened in Skrill.
it is not about limits at all.
seems Skrill cant(dont want) vouch for me to their partner Bitpay and prefer to make some pain to me who happens to be their full verified client

Well, I'm still able to use that "continue as a guest" for <$3000 Skrill deposits (through BitPay):

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: swirl on August 26, 2019, 10:29:08 AM

Quote from: Raja_MBZ on August 18, 2019, 12:33:35 PM

Has someone around tried to use BitPay multiple times with the maximum "continue as a guest" limit? Like three purchases of $2999 each (equivalent to $8997) in a single day using the same IP address? If it works, it can help the users depositing BTC to services like Skrill/Neteller with no KYC requirement.

i dont have option "continue as a guest", have only "continue"
happened in Skrill.
it is not about limits at all.
seems Skrill cant(dont want) vouch for me to their partner Bitpay and prefer to make some pain to me who happens to be their full verified client

what are you using skrill for---USD to BTC conversion? i've been digging around and i'm not sure exactly what constitutes a "bitpay payout" but i believe it's when the vendor takes dollars and pays the customer in BTC, using bitpay to convert. i think it may apply here. according to bitpay's new terms, people receiving "bitpay payouts" in any amount must now complete KYC. the same requirements are only triggered otherwise if you are purchasing $3000+ or getting refunded $1000+.

swirl

newbie

Activity: 47

Merit: 0

Quote from: Raja_MBZ on August 18, 2019, 12:33:35 PM

Has someone around tried to use BitPay multiple times with the maximum "continue as a guest" limit? Like three purchases of $2999 each (equivalent to $8997) in a single day using the same IP address? If it works, it can help the users depositing BTC to services like Skrill/Neteller with no KYC requirement.

i dont have option "continue as a guest", have only "continue"
happened in Skrill.
it is not about limits at all.
seems Skrill cant(dont want) vouch for me to their partner Bitpay and prefer to make some pain to me who happens to be their full verified client

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: buwaytress on August 24, 2019, 10:34:09 AM

Hope it was a lesson to them about Bitpay and accepting Bitcoin. But this KYC complication is going to start causing a lot of problems.

BitPay has recently changed its terms. It was big news. It's plain stupid for anyone to donate an amount like that through a compliant payment gateway. You're basically asking for problems by doing that.

No matter how much I dislike BitPay, they just did what they were supposed to do when it comes to amounts of that order. How can you expect them to process it? The person donating the $100k could have prevented this drama.

The only thing you can blame BitPay for is the lack of communication, but then again, this is nothing new-- it's getting harder and harder to get in touch with companies the larger they become.

TryNinja

legendary

Activity: 2758

Merit: 6830

Quote from: buwaytress on August 24, 2019, 10:34:09 AM

Anyone saw the Amazon fires charity fiasco a couple of days ago?

Apparently, someone tried to donate $100k to a charity but the payment didn't go through and there was no way for the charity to get in touch. So cue Twitter support and public barrage of how poorly the situation was handled (basically, they asked the charity to upgrade their account, but then an automated email verification failed etc etc.).

Hope it was a lesson to them about Bitpay and accepting Bitcoin. But this KYC complication is going to start causing a lot of problems.

Yeah, I saw that a few hours ago and was actually trying to find a post about BitPay to shit on them a little bit more. Pretty lame situation. Tongue

For those who want to read more: https://bitcoinist.com/bitpay-under-fire-for-rejecting-100k-bitcoin-amazon-rainforest-donation/

buwaytress

legendary

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Join the world-leading crypto sportsbook NOW!

Quote from: TryNinja on August 18, 2019, 07:47:43 PM

Quote from: stfN2128 on August 18, 2019, 05:09:04 PM

so it's only needed for purchases which are more than 3k usd? any news or infos that they are going to set this limit way more down?

For now it's only $3k+ purchases. But soon they will start asking for it if they think anything is ""suspicious""... mark my words. Honestly, we should just show them how bad we think they are becoming by moving on to another company.

Anyone saw the Amazon fires charity fiasco a couple of days ago?

Apparently, someone tried to donate $100k to a charity but the payment didn't go through and there was no way for the charity to get in touch. So cue Twitter support and public barrage of how poorly the situation was handled (basically, they asked the charity to upgrade their account, but then an automated email verification failed etc etc.).

Hope it was a lesson to them about Bitpay and accepting Bitcoin. But this KYC complication is going to start causing a lot of problems.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: gentlemand on August 18, 2019, 06:40:20 PM

I can see why they got pissed off with Bitcoin not scaling however the option to scale has been right there waiting for them to implement yet there is zero sign of them doing it. That's in line with blockchain.com too which has Roger's fingers up it too.

If they get pissed off with Bitcoin for not scaling they don't understand Bitcoin. Scaling Bitcoin is not something you can force through someone's throat like what happens with BCash where they can fork at any desired date and get it through without problems. Bitcoin isn't designed to favor their business model.

I think the main reason they do not want to implement Segwit is that it deems their BCash near worthless with how Bitcoin's fees would be so low, that BCash's only advantage (which is provide low fee transactions) isn't longer a selling feature. I believe that these fools have been stupid enough to convert their Bitcoin to BCash when it forked off.

We sold our BCash probably to these entities at +0.2BTC rates so they're sitting on very expensive coins right now. We've seen Bitmain's balance sheet to know that they have gone balls deep in BCash.

Topic: BitPay -- KYC is here! - page 3. (Read 1446 times)