"hosted wallet" or "digital currency exchange" with these conditions

DireWolfM14

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Quote from: amirheavy666 on March 15, 2020, 04:55:23 AM

Bittrex requested this thing

That sound incredibly odd, I've never heard of an exchange making such a request. Is this in lieu of providing KYC?

There are some services I can think of, that might fit your requirements, but I really don't even want to mention their names. Too many red-flags, and scam accusations. The risk of using them might be small, but it ain't zero and probably depends on the amount of funds. The more you have the higher the risk, of course. I'm with malevolent; "host" your own wallet, send Bittrex an address, tell them to send your money.

malevolent

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I can't think of any service that isn't also considered to be untrustworthy.

If the amount of money blocked is substantial enough is there any reason why you can't start your own hosted wallet?

The requirements are BS by the way, especially with point c. as many countries on US sanctions overlap with other countries sanctions, either EU, or if they are under UN sanctions then all UN members are supposed to observe the sanctions. Of course, there's another point of BTC/cryptocurrency services being needlessly overzealous in their pursuits of compliance with sanctions.

amirheavy666

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Quote from: Patatas on December 06, 2019, 02:28:32 PM

Quote from: nero_monney on December 02, 2019, 04:52:32 AM

Despite what is said above, I use Freewallet app. It never tricked me as all the transactions happen fast and all the coins are safe. So "hosted" or not, I like them.

Stop shilling for them. They have scammed people in the past and continue to do so. Head over to the scam accusation section to see their most recent accusation.

@OP: Do you mind sharing the details of the exchange? I don't see why any exchange should ask you to choose a particular wallet for sending you YOUR money lol

Bittrex requested this thing

Patatas

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Quote from: nero_monney on December 02, 2019, 04:52:32 AM

Despite what is said above, I use Freewallet app. It never tricked me as all the transactions happen fast and all the coins are safe. So "hosted" or not, I like them.

Stop shilling for them. They have scammed people in the past and continue to do so. Head over to the scam accusation section to see their most recent accusation.

@OP: Do you mind sharing the details of the exchange? I don't see why any exchange should ask you to choose a particular wallet for sending you YOUR money lol

LeGaulois

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Quote

...Pretty suspicious, what exchange are we talking about? Did they recommend a certain wallet?

Probably this exchange requires a hosted wallet to protect itself. The new exchange will be responsible if the TXs activity is considered 'suspicious' or if there is a kyc to do. I mean they're just sending the problem back to someone else. Usually hosted wallets have a lot of restrictions: prohibited activities, KYC etc... They will deal with it (or not).

I don't know which exchange asked him/her all the requirements but it trully look like they need help lol.

Potato Chips

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Quote from: amirheavy666 on December 03, 2019, 03:26:49 AM

Our coins are blocked in an exchange and that exchange requested such a wallet (hosted-wallet) to give back our coins... so please recommend an honest host-wallet with those details that i said ..... Thanks

I don't understand the need of a hosted wallet in order to give your funds back. In the first place there's no guaranteed way of knowing if a particular address is from a hosted wallet.

Pretty suspicious, what exchange are we talking about? Did they recommend a certain wallet?

amirheavy666

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Quote from: Potato Chips on December 02, 2019, 12:27:11 PM

Quote from: nero_monney on December 02, 2019, 04:52:32 AM

Despite what is said above, I use Freewallet app. It never tricked me as all the transactions happen fast and all the coins are safe. So "hosted" or not, I like them.

That's what others thought too until these hosted wallets started screwing them blocking their acc and such. If I were you I will not only consider what has happened but also what can happen. They have full control over your funds, they can do anything. and given their past record, Is it worth it to store funds there when you can just do it yourself and have full control of it 🤔

@op, I'm assuming you're already aware of the risks. I think binance.com fits those criteria as they stopped catering US persons and made a specific platform for them.

Our coins are blocked in an exchange and that exchange requested such a wallet (hosted-wallet) to give back our coins... so please recommend an honest host-wallet with those details that i said ..... Thanks

Potato Chips

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Quote from: nero_monney on December 02, 2019, 04:52:32 AM

Despite what is said above, I use Freewallet app. It never tricked me as all the transactions happen fast and all the coins are safe. So "hosted" or not, I like them.

That's what others thought too until these hosted wallets started screwing them blocking their acc and such. If I were you I will not only consider what has happened but also what can happen. They have full control over your funds, they can do anything. and given their past record, Is it worth it to store funds there when you can just do it yourself and have full control of it 🤔

@op, I'm assuming you're already aware of the risks. I think binance.com fits those criteria as they stopped catering US persons and made a specific platform for them.

nero_monney

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Despite what is said above, I use Freewallet app. It never tricked me as all the transactions happen fast and all the coins are safe. So "hosted" or not, I like them.

exstasie

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Quote from: bL4nkcode on December 01, 2019, 03:14:36 AM

Quote from: exstasie on November 30, 2019, 03:14:31 PM

Quote from: OmegaStarScream on November 30, 2019, 11:31:40 AM

There is Omniwallet (a hosted wallet).

Freewallet is more what I think of as a hosted wallet.

I will not recommend of using them with these lots of issues and problem faced by those who are using them, also it on US jurisdiction.

It wasn't meant as a recommendation. Just an example that highlights the difference between a hosted wallet (not your keys, not your coins!) and a web wallet where you solely control your own keys.

Freewallet is a hosted wallet, and a prime example of why people should never use them. Omniwallet, Blockchain.com, and similar wallets are not hosted wallets. At least not in the legal sense (money transmission laws, AML/KYC, and so on).

bL4nkcode

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Quote from: exstasie on November 30, 2019, 03:14:31 PM

Freewallet is more what I think of as a hosted wallet.

I will not recommend of using them with these lots of issues and problem faced by those who are using them, also it on US jurisdiction.

exstasie

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Start with exchanges that completely prohibit US customers in their terms. If an exchange does business with US persons, they are subject to OFAC jurisdiction. I'm not aware of any hosted wallets that prohibit US customers.

Quote from: OmegaStarScream on November 30, 2019, 11:31:40 AM

There is Omniwallet (a hosted wallet). I'm not sure where it's based but I doubt it matters in this case as it's fully open-source, and you're only asked for an email and a password to create the wallet.

I wouldn't consider that a "hosted" wallet. Omniwallet doesn't control the user's private keys. Transactions are signed client side, same as Blockchain.info's wallet: https://www.reddit.com/r/omni/comments/32b8o4/does_omniwallet_hold_the_private_keys/cqc9ve3/

Freewallet is more what I think of as a hosted wallet.

Quote

A hosted crypto wallet is a digital wallet in which your private keys are stored. In exchange, the wallet takes care of the backup and security of your funds.

In comparison to other crypto wallets, a hosted wallet is more similar to regular banking apps — you can always regain access to your assets, even if you have forgotten your password, mnemonic phrase or lost your phone. Other types of wallets do not provide this possibility. In the event that you lose access to your credentials or a device on which the wallet is installed, you will lose your funds.

Freewallet is an example of a hosted wallet. It provides its users with the possibility to restore lost credentials, performs backups and guarantees security of the user’s funds.

OmegaStarScream

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There is Omniwallet (a hosted wallet). I'm not sure where it's based but I doubt it matters in this case as it's fully open-source, and you're only asked for an email and a password to create the wallet.

amirheavy666

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Dear Bitcointalk members

I need a "hosted wallet" or "digital currency exchange" that have these conditions? do you know?(please attention "hosted wallet" or "exchange")
The hosted wallet or digital currency exchange designated by you:

a. Must be located outside of the United States;
b. Must not be owned or controlled by a United States person or entity or otherwise
subject to the jurisdiction of OFAC;
c. Must not be located in a country or region subject to United States sanctions (e.g.,
Iran, Cuba, North Korea, Syria, and the Crimea region of Ukraine); and
d. Must not be listed on an OFAC sanctioned parties list or otherwise owned or controlled
by a person or entity on an OFAC sanctioned parties list.

Topic: "hosted wallet" or "digital currency exchange" with these conditions (Read 255 times)