Topic: My account on localbitcoins is on forced holiday half and hour after i opened it (Read 2149 times)

Despite all the pros and advantages of using bitcoin, this situation shows the difference between banks and exchanges. Banks are almost always consistent and will never put one on "forced holiday". (I wish my employer would do this often, I wouldn't mind at all!)

The uncertainty of being locked out and suspended from trading anytime, arbitrarily and randomly, is one of the risks associated with trading bitcoins on an exchange. This scenario will not work in a general economy where the public will be extremely inconvenienced and put in panic mode by such aggressive measures. Money is a basic and crucial need. Locking it without recourse to quick resolution from an effective and efficient support system is not constructive. It is a destructive payment system. People's lives are affected by such arbitrary blocking of accounts. "We're sorry for the inconvenience" will not cut it.

I have an account with a major bank in Germany and they KYC-verified me back in 2011. That was it. Fast forward to 2017 the account is still well and strong. Not one issue in the six years I have been with them. No forced holidays. No "Your account has been flagged for review".

Yes, bitcoin is still an evolving technology, I agree, but the ideal and best way forward for exchanges would be to set up accounts under strict and stringent KYC protocols. When those procedures are passed and completed, the customer should be considered identified and vetted with finality. Arbitrary locking of accounts on any random day in the future is a broken and mismanaged system.

They were super responsive whenever I had a query about something but since account went to forced holiday for no reason there has been no reply.

Been on there forum and many other people with same issue and have not heard back.

Very bad service as trusted the company and now they don't provide information especially when my account is verified and trusted with all ID's provided

Having been on LocalBitcoin for couple of months without any issues yesterday my account was put on Forced Holiday,  Checked there forum and some other large traders with the same problem.

Have sent support a ticket but no reply which is very bad as they were super responsive and now not replied.  Very poor service as unhappy how they have dealt with issue especially with the BTC price so volatile.

I am confused why all of a sudden when you have 100% Feedback and no issues be put on Forced Holiday and without any notification or anything.

Has any trader been put on Forced Vacation and for what reason and how long does support reply back.

Hahahaha, on weekend yeah they super lazy, thats for sure.

After weekend op will get attention he needs.
If IP didnt changed that means you must have so affiliation with other scammy account. Maybe on that campus/school IP someone scammed someone and thats why they flagged you.

Btc are safe and never gonna be lost. But make sure all verification is up to date when they ask you to do it/DO IT!

Have your tried their support ? They're super responsive .You can submit a support ticket with the screenshot or post the same issue on their actual forum.I'm sure you'll get more constructive replies there having more chances of getting you problem solved .Support is the first priority.

Its definitely the same ip because i have been using wifi in my student dorm.Bzt how can i proove that???In case i cant reinstate my account what will happen with my btc?

Not really, first wait for support. They will tell you why account is on force holiday. They will tell you what type of verification you must complete to get it working again.

That's new measures because of many scams and scammers using same ip for certain accounts. Might be completely random IP but if your is dynamic u basically been caught by mistake and flagged.

So you think if I verify my account id,phone number etc they will unblock it?

Most likely your IP was picked up by system and put you on force holiday automatically. Weekend times support is lazy and will answer probably on monday earliest.
Make sure your account is good standing order and id is provided. Otherwise they wont unlock you until you verify that with them.

Hope that helps.

ignore the conspiracy theorist above me and contact their support asking for explanation. it can happen because a lot of things like getting reported or suspicions of hacking.
you can't do anything but ask for support, I'm afraid.

I wouldn't be surprised at all if the localbitcoins site would be under a control of interpol, bankers or other related individuals.

But have fun

Like i said i have opened my account and half an hour later i saw the message that it is on forced holiday.Because of that i cant sell my bitcoins.Will i be able to get and save my bitcoins somehow because i have received 0,053 btc its around 20$?