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Author Topic: Is it true that you can't withdraw more than $1000 per day from MtGox?  (Read 1808 times)
Neyo
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June 09, 2011, 07:15:37 PM
 #1

Is it true?
1531914001
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wareen
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June 09, 2011, 07:25:57 PM
 #2

Is it true?
Indeed!
The limits are 1000$/day and 10000$/month unless you provide some official identification to MagicalTux (email him for details).
Note that the limits also account for BTC withdrawals (at their current USD equivalent)!

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Neyo
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June 09, 2011, 07:30:26 PM
 #3

What kind of personal identification would he need? Why does he need personal identification, is it becauseof US legislation? If I gave it to him, would I be able to withdraw any amount?
wareen
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June 09, 2011, 07:37:20 PM
 #4

What kind of personal identification would he need? Why does he need personal identification, is it becauseof US legislation? If I gave it to him, would I be able to withdraw any amount?
Driver's license, passports or similar will do.
To my knowledge, your limits will be increased (not removed) based on some evaluation of your personal risk-profile.

As for the details I suggest you contact them directly: info@mtgox.com

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Jack of Diamonds
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June 09, 2011, 09:26:01 PM
 #5

I increased the limit by a few thousand after sending in passport scans.

Not that I use that option often, but running costs on a mining farm are a bitch. It comes handy when you need to sell off some BTC now & not on a 5 day spread.

Don't even see why people would use darkpools for selling if their limit was so low, I'm betting at least a few % of Mt.Gox customers have limits in the higher 4 or low 5 digits.

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Stephen Gornick
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June 12, 2011, 06:32:48 AM
 #6

is it becauseof US legislation?

The exchange is based out of Japan.  Businesses there too have anti-money laundering restrictions in which this Know Your Customer requirement applies.
JellyfishRancher
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June 12, 2011, 04:36:33 PM
 #7

Does TradeHill have a similar limit?

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See this thread (http://forum.bitcoin.org/index.php?topic=13650.0) for more info.
tymothy
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June 12, 2011, 07:29:10 PM
 #8

I got my limit upped to $10000 after I emailed a copy of my DL.
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June 13, 2011, 04:54:16 AM
 #9

what possible fraud is there if you want your BTC's.

I mean the BTCs are yours . (period)

there is no middle ground as each transaction is perminent and irreversible.

unless they are doing something nefarious and really dont have 100% of reserves on hand in case there is a run on the exchange.

"... He is no fool who parts with that which he cannot keep, when he is sure to be recompensed with that which he cannot lose ..."

"... history disseminated to the masses is written by those who win battles and wars and murder their heroes ..."


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