ID for buying bitcoin | Bitcointalksearch.org

gentlemand

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Quote from: beltran834 on June 08, 2020, 08:40:28 AM

I don't have or want a smartphone or printer or scanner, my mobile is just a little 2g payg thing which doesn't connect online but I suppose it would be ok to link that but apparently they're also looking for other forms of ID like utility bills which would have to be scanned and I can't do that. I have a face pic (not straight to camera but quite clear) uploaded to folder a while back so could use that but have no means of scanning anything or otherwise transferring images online.

You don't have anyone anywhere with a camera? If you're typing on here you have a means of transferring images.

I don't have any utility bills in my name either. So far the most I've had to provide is proof of address, and I do that with a driving licence, and a passport scan. There has been the odd selfie but I think I've only had to do that once.

Nowhere so far has demanded more than that and that includes Coinbase, Kraken and Okex.

An arty pic of you sucking your cheeks in at an angle isn't going to cut it if they request one.

crwth

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Mostly the IDs or KYC is for those exchanges to abide by the law. It's a requirement. I think the best way for you to have Bitcoin is to participate in a P2P transaction in exchange for your FIAT to Crypto. I think Binance is currently expanding its list of FIAT currencies with regard to different local communities.

https://p2p.binance.com/

Saisher

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Quote from: beltran834 on June 08, 2020, 08:40:28 AM

Hi I'm completely new to this and have been looking into cold storage hardware and how to buy btc. It seems that exchanges like Coinbase are where a beginner like me would buy a small amount to start with

Just been looking at a couple of instructional vids today on buying and it seems, you need to upload various forms of ID to the exchange and also link your mobile phone to it. I don't have or want a smartphone or printer or scanner, my mobile is just a little 2g payg thing which doesn't connect online but I suppose it would be ok to link that but apparently they're also looking for other forms of ID like utility bills which would have to be scanned and I can't do that. I have a face pic (not straight to camera but quite clear) uploaded to folder a while back so could use that but have no means of scanning anything or otherwise transferring images online.

Bearing all that in mind could someone tell me about the current ID requirements for buying bitcoin on exchanges?

I never used ID in all the the exchange that I verified my account but a national ID is just ok, you did not mentioned your location or you can ask your local boards and ask what they used to verify their account on Coinbase, but if you are going to be active in trading and buying through these exchanges, it's better for you to get a passport, all exchanges accept passport for verification.

20kevin20

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Quote from: hd49728 on June 11, 2020, 04:16:41 AM

With Bitcoin ATM, users still have to provide their phone numbers in order to get codes and print Private key, public key before they buy their bitcoin. Fortunately, disclosing phone numbers is far away from doing a full KYC so Bitcoin ATMs are great alternatives for people who scare about and don't want to do KYCs on exchanges or marketplaces.=

We have some ATMs in Romania that do not require any personal information to buy Bitcoin from (haven't visited them in a while though, so things could've changed). I never gave any kind of personal info when I bought through an ATM before.

Quote from: hd49728 on June 11, 2020, 04:16:41 AM

People probably fall in to the loopholes of fake DEXes and believe such fake DEXes allow them using services without KYCs. The fact is sometimes they can use those exchanges safely, without KYCs, but sometimes they will be mandatorily required doing KYCs, and there are not real DEXes in crypto. They are all centralized.

Not really. You have Atomic DEX and Bisq which are decentralized (although I think Bisq is more decentralized in comparison with Atomic DEX for now) and ask you for no KYC. There's also the Waves DEX which only requires KYC for fiat transactions, but I don't trust it much to be honest.

pakhitheboss

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Top Crypto Casino

I am sure you might have heard about Binance Exchange and Kucoin Exchange. You can register on these exchanges and then make a purchase without going through KYC if the amount is less than 2BTC.

If you cannot use these exchanges then you need to scan your documents for making a purchase on Coinbase. Without KYC, Coinbase will not allow you to make a purchase.

jossiel

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Quote from: Greatchu on June 11, 2020, 05:16:29 AM

Few exchanges accept buying crypto without KYC but you will be restricted from buy large amount of Bitcoin for example 5k worth of Bitcoin per day, go to binance or okex , they are Fiat friendly and you can buy without worrying about KYC

Yup.

In Binance, no need for KYC but you will have a limit of 2 BTC per day for withdrawals. And possibly the same amount for other centralized exchanges that's ok without KYC.

But as said if fiat is the transaction, you will have to undergo KYC.

Krislaw

sr. member

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All centralised request for KYC depending on the T&C of the exchange. Exchange like Binance allows you to withdraw with limit but makes KYC compulsory for fiat transactions.
If you are a big trader, you should worry about that but if you make only small transactions, you should not worry about it.
As a big trader, you can make use of P2P website.

Greatchu

member

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Few exchanges accept buying crypto without KYC but you will be restricted from buy large amount of Bitcoin for example 5k worth of Bitcoin per day, go to binance or okex , they are Fiat friendly and you can buy without worrying about KYC

joniboini

legendary

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Exchange requirements range from registering with e-mail and confirming it (need to click the link on the e-mail they sent you) to the absolute worst scenario of requiring ID, proof of funds, etc. However, if it comes to fiat-crypto trading, you'll likely need to send your ID, proof of residence, photograph and so on.

If you can't fill all the requirements, P2P trading should be your alternative. Aside from what has been mentioned above, make sure to use an escrow when you're trading with somewhat less trusted users.

hd49728

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Not your keys, not your coins!

Quote from: 20kevin20 on June 08, 2020, 09:41:42 AM

And then, no KYC doesn't mean you should trust them. Always keep your money off any website. Keep the money in your wallet, not in others'. The fastest & best way you might be able to get some BTC without proof of identity could be ATMs. I absolutely love them. Visit https://www.coinatmradar.com/ and look for one nearby - just make sure you check whether they have KYC (could be KYC from a certain sum and above, say >$1k) or not.

With Bitcoin ATM, users still have to provide their phone numbers in order to get codes and print Private key, public key before they buy their bitcoin. Fortunately, disclosing phone numbers is far away from doing a full KYC so Bitcoin ATMs are great alternatives for people who scare about and don't want to do KYCs on exchanges or marketplaces.

People probably fall in to the loopholes of fake DEXes and believe such fake DEXes allow them using services without KYCs. The fact is sometimes they can use those exchanges safely, without KYCs, but sometimes they will be mandatorily required doing KYCs, and there are not real DEXes in crypto. They are all centralized.

masulum

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hmph..

The use of KYC depends on where you use the service. On some services, you are allowed to keep withdrawing money/crypto without having to send your identity (KYC). However, to withdraw money without KYC from the exchange will usually be given a certain limit, where the limit also varies from each service. Or as mentioned by @ Pffrt, you can still buy crypto by using services provided by members in this forum. However, you also have to understand that not all service providers in this forum are legit, you can pay attention to the trust feedback from the user as one factor, but remember this is not a guarantee of all going well. DWYOR

Upgrade00

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Quote from: beltran834 on June 08, 2020, 08:40:28 AM

It seems that exchanges like Coinbase are where a beginner like me would buy a small amount to start with

A heads up, coinbase has been under fire recently as it was discovered they were attempting to sell blockchain analytics to federal agencies. Link
Such data can be used to monitor, track and regulate bitcoin holders on the site along with their assets.
Read the terms and conditions of any website you wish to exchange with, as well as the user [privacy] policy information.

Quote from: beltran834 on June 08, 2020, 08:40:28 AM

Bearing all that in mind could someone tell me about the current ID requirements for buying bitcoin on exchanges?

It's dependent on your means of payment, amount to be purchased and also varies on different sites. Legality of cryptocurrency in your region is also a factor.

20kevin20

legendary

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More and more exchanges and service providers are going to ask their users for proof of identity. This is the path we've been heading for for years now.

Take precaution even when it comes to non-KYC exchanges. First of all, they could be either a scam (I'd personally advise you not to ever deposit any money on YoBit for example) or they could offer very bad prices compared to spot (instant exchanges usually do that).

And then, no KYC doesn't mean you should trust them. Always keep your money off any website. Keep the money in your wallet, not in others'. The fastest & best way you might be able to get some BTC without proof of identity could be ATMs. I absolutely love them. Visit https://www.coinatmradar.com/ and look for one nearby - just make sure you check whether they have KYC (could be KYC from a certain sum and above, say >$1k) or not.

coupable

hero member

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There is no commun standards for all exchanges. Some requires you to verify your identity + your address of residence. While some others just ask for a copy of your id card if you just want to purchase and withdraw small amounts (according to a previously limit set of withdrawals).

I suggest you to avoid using centralised exchanges like Coinbase and Binance where you have to submit your personal docs. There are some other good alternatives but i need you to tell how you aim to buy bitcoin, means using what paiement method .

Pffrt

sr. member

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Almost all the centralized exchanges more or less require same sort of KYC to buy BTC with cards. You would rather try localcryptos, it doesn't require any KYC. Or you can try with purchasing BTC with Paypal, PM and some other options from Bestchange. However, it also requires KYC sometimes.
If you have balance with paypal, PM etc, you can try the currency exchange subboard of this forum.

beltran834

newbie

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Hi I'm completely new to this and have been looking into cold storage hardware and how to buy btc. It seems that exchanges like Coinbase are where a beginner like me would buy a small amount to start with

Just been looking at a couple of instructional vids today on buying and it seems, you need to upload various forms of ID to the exchange and also link your mobile phone to it. I don't have or want a smartphone or printer or scanner, my mobile is just a little 2g payg thing which doesn't connect online but I suppose it would be ok to link that but apparently they're also looking for other forms of ID like utility bills which would have to be scanned and I can't do that. I have a face pic (not straight to camera but quite clear) uploaded to folder a while back so could use that but have no means of scanning anything or otherwise transferring images online.

Bearing all that in mind could someone tell me about the current ID requirements for buying bitcoin on exchanges?

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