Frustration with third party KYC services in crypto platforms - page 2.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: uneng on September 11, 2021, 12:35:07 PM

due to their third party KYC sites not accepting the documents provided, although they are perfectly fine and readable.

Apart from what has already been discussed here, have you tried checking the sizes ^[kilobytes] of the images that you've uploaded? On all of the previous occasions that I had to deal with automated rejections, I noticed my uploaded documents were beyond their allowed size limits ^{[some of them have that requirement in place]}.
^{- In other words, sometimes it has nothing to do with the images being blurry or not.}

o_e_l_e_o

legendary

Activity: 2268

Merit: 18711

Almost all centralized exchanges employ third parties to do their KYC checking for them, and as with most things, they will employ the service which costs them the least amount of money. As a result, you have the worst and least reliable companies processing KYC documents, leading to documents being rejected for completely arbitrary or unknown reasons, and also leading to frequent hacks and leaks due to these cheap companies and their poor security. You can always try complaining to the exchange, but given most exchanges take the same approach of spending as little as possible on their customer service, then you will be unlikely to make much headway. Given that the average exchange user probably only buys or sells a few hundred dollars worth of crypto, then an exchange might only make a dollar or two from that user's exchange fees. That probably isn't worth the cost of them getting someone to manually review the required documents.

The easy solution, not to mention far better since it means you don't have to compromise your privacy and risk your identity, is simply to use a good DEX such as Bisq or LocalCryptos.

vv181

legendary

Activity: 1932

Merit: 1273

For scalability purposes, I believe exchanges use an automated process for verifying the ID.

Personally, I was also rejected by the KYC process on some particular exchanges. What I presume is wrong is because on the rejected process, my photo was not on a clear background and I took the photo of ID by hand. I have successfully verified it when I took the documents on a clear background and with a help of a phone holder, to make sure the taken photo did not get blurry.

If you can't take on anymore the KYC process, the only option is to use non-KYC services. Anyway, if you want to try it again, try my suggestion above, take the images to stand still and on a clear background. If that still doesn't work, contacting their support is the only way to go.

BitMaxz

legendary

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BTC price road to $80k

There are some exchange site that keeps rejecting me on KYC process but I don't know if it was a camera issue since everything is clear.

I just keep submit and repeat everything until they accept and approve the KYC process maybe they are using a bot to read documents so if your photo is not clear then it will automatically be rejected. That's just my theory because I have some experience submitting my documents after submit just a few minutes I was rejected from them right away.

Unlike on Binance no headache on submitting my documents everything is clean and smooth and approved within a few hours.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

I'm facing constant issues when signing up and completing the verification process at crypto currency platforms from different kinds, due to their third party KYC sites not accepting the documents provided, although they are perfectly fine and readable. I don't know why these services are difficulting the process like this, because their customers (crypto platforms) are the main prejudiced in the end, since users can't verify their accounts properly.

I believe KYC services are demanding details that average users can't even supply in an accessible or affordable way. For an example, a top tier quality camera to photo the document. And I suspect the process isn't even done manually by real operators, as right after you send your ID, seconds or minutes later they have already rejected it.

Imagine the volume of stucked verifications these platforms have due to inneficient KYC providers and the potential profit they could have been making if it wasn't this mix of bureaucracy and incapable verifiers.

That is very frustrating. Time is money and in crypto universe it shouldn't be different...

Topic: Frustration with third party KYC services in crypto platforms - page 2. (Read 298 times)