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Crypto - Specifically Bitcoin
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Easy indeed
I mean Coinbase is a trading platform, they will have to check on who you are before they un-restrict your account.
Get ready to provide your ID/Passport
Why are you finding it so difficult? Choose an exchange, do KYC, then just buy your bitcoin.
Does not even say where to do that.
Exchanges seem to want customers from US and nowhere else it seems.
I live in the UK and there is plenty of exchanges available to me.
List your top 5 exchanges maybe i would have more luck than the others I have tried.
Coinbase has my account restricted had has given no explanation or instructions on how to proceed.
I mean theres also LocalBitcoins where you can meet people and buy with cash, but I suggest you buy yourself a gun or a baseball bat if you wanna go down that route, as mofos can make things complicated over a few $
You will need to do KYC, and send them your driver's license. Even though this is a shame, it's there to prevent fraud.
This shit is too complicated.
I buy from many different vendors and never had this happen with any other product.
Not so many really care about it until it's start hurting them! Buffet also said sth about this, he refused offers from people promising him to double, x10 his wealth in a few weeks/months/years in the 60-70s when he was dealing with his greed version as it'd take one decision to lose everything. His partner (Charlie) also mentioned about these things on Youtube.
What are they afraid of when they're in top 1%?! They really don't know the values of blockchain? crypto? The short answer is Karma -> Case1 Case2 Case...
@trycatchthis
It depends on where you're from, but generally, an exchange will want as much incriminating info as it needs to verify your identity. It may take a few days to get verified; most American exchanges want your cc info and id.
coinbase does not even put a button anywhere saying verify your account. they dont give a fuck.
Very happy with Bitvavo ( https://bitvavo.com/en ) . I know, Coinbase, Binance and others may be cheaper, but I felt more "secure" with Bitvavo being a NL registered business. I also use Bison&BSDEX (made in Germany). At least with them I have the feeling I could do smth if my account gets frozen or something else happens as I am from Germany, myself. That being said, I should really order a Ledger already.
Fwiw, I first bought Bitcoin in 2013-ish. Spent it on some online game. Fml.
Read this
https://bitcoinbookmarks.com/#bitcoin-btc-vs-bitcoin-bch
Short: Bitcoin (BTC) is not what Bitcoin is designed to be. And it's the main problem.
Use any crypto that really usable and you don't need to suffer with spoiled BTC
Bitvavo request KYC?
Try not to over complicate:
If you are willing to buy (only) a crypto - buy the crypto.
Why to use all the Xchange stuff? (it will require withdrawal to your wallet with extra fees)
There are plenty of different companies who offer to purchase a crypto from them with traditional credit cards.
For example MoonPay.com is providing such a service (bitcoin.com use them for their https://buy.bitcoin.com/)
There are many more with different price rates, choice of currencies and service fees
(Simplex, Transak, Mercuryo and more)
You can get more details in:
https://community.trustwallet.com/t/list-of-cryptocurrency-providers/532
If KYC means you need to upload your ID, then yes, they do. Nothing surprising, though. In Germany I am pretty much used to having to verify myyelf to open a bank account or an account at a broker. It makes sense in case you want to restore your lost account and/or need to explain income to taxes. I am not trying to use crypto anonymously but just see it as a passive investment (HODL). I know that there are different things ppl want to achieve sith crypto, though. If you want to be anonymous, perhaps don't look at Bitvavo.
Kraken. You people keep saying this is easy... it isn't.
Binance after having to contact support to verify.
When it came to the credit and debit cards:
Unable to Process There was a problem processing your payment. Please try a different card or try again later.Finally I was able to get some. After days of effort.
So what now?
When does this thing go to the moon?
Look at different alt coins that could solve that problem for you.
@trycatchthis buy some VPS with crypto now!
There are many great offers that run on LET right now
Support crypto! buy some - spend some
Why when I could use FIAT. I have a few VPS from several providers already. If I see a legendary deal I might take it though.
By alt coins you mean shit coins?
One of THE big advantages of crypto-"currencies": anonymity.
Seems to work great! Just provide official ID documents ... and then enjoy the anonymity spree, Yay!
why not?
did i say alt coins anywhere?
Are you TROLL?
Umm sorry must have misread your comment.
KYC/AML crypto was never intended to provide any anonymity. It's actually reversed. Everything is in an open ledger. So it is and never was anonymous.
However your crypto wallet is pseudonymous and doesn't need personal details to setup. In theory you can send, receive and spend crypto from your wallet without never disclosing your personal data. As soon as you enter the fiat/exchange space you are greeted with regulations. But that will apply on every investment activity. It's good and bad at the same time.
The crypto itself is anonymous. Buying/selling currency at an exchange like Coinbase is not. It is Coinbase that requires those documents, not bitcoin.
If you understand it, it's easy to stay anonymous. If you don't understand it and need to use exchanges, then it's not.
I should add in case anyone is having the trouble I had, the exchange I used is coinmama.com. No other exchanges would allow my debit card or credit cards.
I use electrum.org wallet.