New on LowEndTalk? Please Register and read our Community Rules.
All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
BitPay is now forcing EVERY user to both register and identify themselves when paying with Bitcoin.
https://old.reddit.com/r/CryptoCurrency/comments/kxo1zt/warning_bitpay_is_now_forcing_every_user_to_both/
https://old.reddit.com/r/Bitcoin/comments/kxhxv7/warning_bitpay_is_now_forcing_every_user_to_both/
BitPay is now forcing EVERY user to both register and identify themselves when paying with Bitcoin.
I urge all providers to dump BitPay ASAP. I would never scan my passport to BitPay just to buy hosting via Crypto.
Scummy move by BitPay.
Comments
Welcome to KYC.
There are two crypto ATMs near me. Originally you could just walk up and wam-bam, cash to BTC (though fees were high). Then one added a requirement to text you a code. Then the other started requiring you to take a picture. Etc.
The problem is that companies want to get into the BitCoin action but they run into financial rules that hold banks accountable. These rules exist largely to stop crime and tax evasion. I think it's practically impossible to offer a BitCoin app, ease of use, etc. without requiring some KYC because at that point you're big enough to be regulated.
Great, of course all the hosts I use, use bitpay. Looks like I won’t be able to pay my bills now, lmao.
Get your illegal deals done before they all require ID! You don't want to be stuck with $100 million in bitcoin you can't cash without the DEA taking notice.
I am kinda supporting this, however I also don't like my identity to be stolen due to hacking or a scummy employee of Bitpay or the KYC service provider.
And what's wrong with them implementing KYC to actually be a long term legitimate payment solution? You also have to register and identify yourself (ie: test-transaction) for papal,...
Time to look into adding bit-pay in the next week or two.
If/when you're planning to use it, please just disclose in your payment methods that you'll using bitpay and add some lines in TOS in regards to crypto payments requiring ID verification...
so I can dodge the hell out of it!
the Payment Page will most likely say: Coin Payments via Bitpay
Odd, I don't get IDed when I buy things with cash. I guess cash can't be used for criminal activities...
But the problem is that most of the customers who pay with bitcoin are tend to avoid KYC for financial privacy.
I remember that few months ago, most of the people were negative when we talked about an anti-piracy group that promoting a mandatory KYC for EU hosting purchases. I think this is not a positive news for the seller...
You do when you want to put the cash through the banking system.
Inevitable move. I think soon we will see more payment gateways following suit.
I have contacted several providers on this matter. Received positive responses from some of them about changing payment processors or paying to a private wallet like BTCpay.
Namesilo has said this will be discussed, I hope they will make a positive decision.
Not everywhere. In Spain for example you can pay anonymously via many ATMs, no ID required. You literally can put an envelope with cash inside the ATM.
I assume most countries have similar payment methods.
AFAIK the Bitpay KYC registration is only for payments above $3000, so that's one hell of a expensive pizza.
Do you need to insert a card first ?
No card, no SMS verification, photo verification, nothing. You just deposit an envelope with cash and are good to go.
This is quite common in Asia and actually in US too. At least in US it's commonly used by kids for online games that don't have bank cards, you create an order (like $10 Fortnite money) and they will give you a barcode or QR code. You bring this QR code to a store, often something like a 7-11 and pay in cash, it's marked paid. They're always for small amounts and don't ask KYC.
That being said, I appreciate being able to pay BTC for some stuff (like maybe a seedbox or VPS in exotic location). Not a dangerous criminal, just don't appreciate the fact that the last time I try ordering from a RU VPS provider due to a great deal here my bank reissued and closed my card and asked WTF - no 3D Secure - just rejected, was not prompted for any additional code or login. Had same thing happen in Gandi.net.
I find it hard to believe they don't photograph the users. It's literally a box full of cash for the taking. Putting so much money into a highly secure box would likely eat too much profit.
Note to NSA/FBI/CIA: invest in bitcoin ATM companies
They record video of every person using the ATM, but of course this is not good enough to identify a cautious criminal. Bills are deposited using a secure mechanical system, user does not have access to a box full of cash from customers lol
Yeah but like 5 people live in Spain so
No this has now changed to all payments of any size.
"We wanted to inform you that we are updating our minimum know your customer (KYC) conditions for all your customers who want to pay using BitPay. This change is necessary to comply with recent changes in the regulatory environment. Effective 06/01/21, customers paying with BitPay must first obtain a BitPay ID, a one-time KYC verification process that collects basic customer information."
--
We are moving away from BitPay now.
Pretty much like other online payments do for some higher risk areas. I would also expect most legitimate coin gateways to follow suit sometime in the near future.
So the only option is probably to run a "self hosted" setup for coin payments if you want to prevent external KYC processes taking place.
Coinbase Commerce requires no KYC.
That is correct, they do not. But if you verify your business account with them, and get a few large purchases, they will restrict your account, lock your ability to convert to fiat and not answer emails for weeks.
Are there any viable alternatives to bitpay for providers to accept BTC? We can't seem to find anything with a proper WHMCS module.
If you are ok with dealing with fiat conversion yourself, BTCPAYSERVER is open source project that lets you self-host a full node that also implements the bitpay api (so you can just edit the plugin's hostname and that's all)
Coinbase commerce whmcs module works great.
I only have experience with them as the final customer, but Coinpayments is widely used and has a module. No idea how good or bad it is.
Not realistic to run and maintain a full node for most providers who just want to get paid.
Does there any difference than before ?
I thought all provider here need you to provide real name,details upon using their service, or they have the rights to terminate your service.
I don't see any difference if you use real account details but pay with bitcoin.
Now BitPay (payment processor) wants your information too, not only the provider.