KYC blocking btc on Xapo | Bitcointalksearch.org

batang_bitcoin

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Quote from: Wolfman92 on February 23, 2018, 04:41:52 AM

Hi folks, few days ago i made some transaction on Xapo, and get a mail that i need to do KYC verification to get my btc liquid again. I send some of the requeriments i have here, but the rest im not agailabe to send soon because im not home.

Another reason why I don't have to return to xapo because of this.

Quote from: Wolfman92 on February 23, 2018, 04:41:52 AM

Did some1 have the same problem and got his btc stucked by Xapo?

I haven't experience their KYC requirement but you are on the situation where you have to obey if they are requiring it.

Quote from: Wolfman92 on February 23, 2018, 04:41:52 AM

If i refuse to do the KYC process did they release my btc so i could put them on some hardware wallet or?

No, if you refuse to fulfill all the certain requirements they are asking - they will hold your coins.

bitart

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Quote from: Wolfman92 on February 23, 2018, 06:06:41 AM

Well they request from me some hardware reciepts and electricity reciepts that i dont have or maybe i would not be able to get them.
So if i dont answer on all of their requests does it mean that i might loose my bitcoins?

Get someone to scan it for you (or to take a photo, nearly everyone has a smartphone, so it can't be a problem), and send it to you as soon as possible.
Last year, it has started with the identification of the card holders. After the XAPO app has been updated to ask for a 'security' selfie, mandatory (before it was optional)... You have to prove your identity (ID card, driving licence etc...) and your location (electricity, water, gas, etc... bill, they don't like phone or internet bills).
You will lose your bitcoins if you don't do what they say. This is a web wallet, people are always adviced to keep small amount on the web wallet, because of things like this one. You can decide if the amount of coins you have on XAPO wallet worth the price of identifying yourself at their system.

Reid

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First of all, is that really hard to complete the word "someone" instead of making it like a text message.

You need to provide the legitimate documents. It is happening now with almost all the website wallets and exchanges.
They need to obey the rules of one country and this is one.
If you stayed at a lowet level then you could just withdraw a little amount.

Wolfman92

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How is possible to seize your btc without a court permission?
I think it is a theft if they do it.

alyssa85

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Quote from: Wolfman92 on February 23, 2018, 04:41:52 AM

Hi folks, few days ago i made some transaction on Xapo, and get a mail that i need to do KYC verification to get my btc liquid again. I send some of the requeriments i have here, but the rest im not agailabe to send soon because im not home.
Did some1 have the same problem and got his btc stucked by Xapo?
If i refuse to do the KYC process did they release my btc so i could put them on some hardware wallet or?

If you refuse the KYC procedure, they will seize your coins, and you have no redress. This is an unregulated space.

That's why you should keep your coins in your own wallet rather than in an online wallet that can change it's rules on a whim.

Wolfman92

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Well they request from me some hardware reciepts and electricity reciepts that i dont have or maybe i would not be able to get them.
So if i dont answer on all of their requests does it mean that i might loose my bitcoins?

audaciousbeing

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Quote from: Wolfman92 on February 23, 2018, 04:41:52 AM

Hi folks, few days ago i made some transaction on Xapo, and get a mail that i need to do KYC verification to get my btc liquid again. I send some of the requeriments i have here, but the rest im not agailabe to send soon because im not home.
Did some1 have the same problem and got his btc stucked by Xapo?
If i refuse to do the KYC process did they release my btc so i could put them on some hardware wallet or?

No matter what anybody will go through in the hands of Xapo or what they have go through, its individualistic in that the situation is always different. In your own case, the only option you have to get your coins is to provide all of the documents they request for and the earlier the better because they might take days or even weeks to finish the verification process depending on the country you are providing your details from. On the bold part, don't even try it because if they would release it without verification, they would have done so without asking you and they don't mind you leaving it for them forever or keeping it for you till you are ready to provide what they need.

That is the disadvantage of using web wallets or any wallets you dont have the private key. If you have the private key, you just need to import it in another wallet and not be forced to meet with all of these strenuous conditions that they wake up one night and decide to implement.

Wolfman92

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Merit: 0

Hi folks, few days ago i made some transaction on Xapo, and get a mail that i need to do KYC verification to get my btc liquid again. I send some of the requeriments i have here, but the rest im not agailabe to send soon because im not home.
Did some1 have the same problem and got his btc stucked by Xapo?
If i refuse to do the KYC process did they release my btc so i could put them on some hardware wallet or?

Topic: KYC blocking btc on Xapo (Read 192 times)