WHY DO I NEED I.D. AND PROOF OF ADDRESS ??

[canah17]

WHY DO I NEED I.D. AND PROOF OF ADDRESS TO BUY BITCOIN ??

tried to but bitcoin at several hubs/sites
they all asked for goverment issued id and proof of address

what gives ? i thought bitcoin was anonymous ?

any suggestions ?

Well its because bitcoin is one powerful thing on the internet its very popular to many countries the government wants your info because they need to assure your not a criminal that use bitcoins for bad things but surely if they have your info it would be easy for you to cash out bitcoins in the real world and then you have easily buy bitcoin with all you want but to me its very scary if you try to give your information in the government for just bitcoin because its that i don't really trust the government maybe i don't know but its a private thing for me that my info i have bitcoin in my wallet i just buy in the internet for somethings or games and bitcoin is not anonymous anymore its getting bigger and much larger than before i suggest you to work in this site and have bitcoin by working its not easy but its fun

[1715691618]

1715691618

[gredisgold88]

WHY DO I NEED I.D. AND PROOF OF ADDRESS TO BUY BITCOIN ??

tried to but bitcoin at several hubs/sites
they all asked for goverment issued id and proof of address

what gives ? i thought bitcoin was anonymous ?

any suggestions ?

yes , btc not anounymous , hehe , i dont know a bout this .

[audaciousbeing]

WHY DO I NEED I.D. AND PROOF OF ADDRESS TO BUY BITCOIN ??

tried to but bitcoin at several hubs/sites
they all asked for goverment issued id and proof of address

what gives ? i thought bitcoin was anonymous ?

any suggestions ?

Being anonymous is gradually turning into a myth with current events happening from over the world especially USA with the IRS going after Coinbase Users for investigation which under the law, Coinbase is to comply by providing details of their users all else they will be the one to bear the liability and that his why all other exchange sites trading sites will want to know even your family background as a result of KYC.

[The Sceptical Chymist]

HUH ?
what ?

"Companies have to comply with 'know your customer' and 'anti money laundering' laws to be able to conduct business."

last time i checked, its mainly banks that have to do that... so is bitcoin a banking product ?

i went to my local pawnshop and bought some items (including silver) and they didnt ask for i.d. .

i just dont get it ..... anybody else got input on this topic ?

I had to provide all that stuff for Circle and Coinbase.  It's to be expected--the gov't requires it, as has been pointed out. 

As far as your local pawn shop goes, just try to sell something there.  You will most likely be asked for ID.  Why?  To prevent shenanigans.  Or at least to catch shenanigan-doers.  They have to comply with laws too.  You could still buy bitcoin anonymously, but it takes a lot more effort.

[cpfreeplz]

HUH ?
what ?

"Companies have to comply with 'know your customer' and 'anti money laundering' laws to be able to conduct business."

last time i checked, its mainly banks that have to do that... so is bitcoin a banking product ?

i went to my local pawnshop and bought some items (including silver) and they didnt ask for i.d. .

i just dont get it ..... anybody else got input on this topic ?

I had to provide all that stuff for Circle and Coinbase.  It's to be expected--the gov't requires it, as has been pointed out. 

As far as your local pawn shop goes, just try to sell something there.  You will most likely be asked for ID.  Why?  To prevent shenanigans.  Or at least to catch shenanigan-doers.  They have to comply with laws too.  You could still buy bitcoin anonymously, but it takes a lot more effort.

Everything is regulated by your own county so trying to buy them anonymousLy means you'd better have some cash and be able to find someone near you that wants to offload some bitcoins.

Aml/kyc is the reason why you have to give them ID. And bitcoins aren't anonymous, they're pseudonymous. Now educate everyone around you with that info too.

[tradesup]

 Hasn't anyone heard of Alcurex remote markets?   

No AML/KYC required, and open to everyone around the world and no ID required.  In fact, all you need is an email address and you can trade direct to high volume markets on Polo and Bittrex.

Can't believe this isn't going viral with all the problems people are having....

FYI:  Only American exchanges are impacted by the AML/KYC requirements, and then only certain areas in USA since California and Texas are huge advocates and developers of the industry, especially in silicon valley, so if it is such a big deal, then move to Texas or Cali, or register on Alcurex and trade anonymously.

 

[Slipknot79]

Generally, an ID or proof of address is only required if there is an airdrop taking place. However, in certain countries there are quite a bit of illegal things taking place which is equivalent to bribery, corruption and so forth. I have purchased bitcoin under my full name and surname I did not however provide an ID document but rather my banking details in order to exchange/purchase BTC

[marielbeckham]

It's just the so-called means of preventing any possible risk.

[goaldigger]

Bitcoin is anonymous as same as your identity here in the forum. Exchanges are not the same as what we have in the forum. They are those what we called the third party where they need your identity as KYC "know your customer" policy means. I find it just normal because things were just happen that way. No need to worry.

[dunfida]

Bitcoin is anonymous as same as your identity here in the forum. Exchanges are not the same as what we have in the forum. They are those what we called the third party where they need your identity as KYC "know your customer" policy means. I find it just normal because things were just happen that way. No need to worry.

Generally, an ID or proof of address is only required if there is an airdrop taking place. However, in certain countries there are quite a bit of illegal things taking place which is equivalent to bribery, corruption and so forth. I have purchased bitcoin under my full name and surname I did not however provide an ID document but rather my banking details in order to exchange/purchase BTC

It's just the so-called means of preventing any possible risk.

Why you guys trying to bump out an almost 2 year old thread?

Going back on topic, You would really need to pass up KYC when you do make use exchangers that do follow with regulation with the government to prevent possible frauds and money laundering. 2 years ago is totally different on what we are experiencing as of now where verifications becoming already too strict when purchasing up bitcoins but somehow there are other ways which do oppose verification.

[chadrs]

it is for identification and verification.

[Proton2233]

Bitcoin is anonymous as same as your identity here in the forum. Exchanges are not the same as what we have in the forum. They are those what we called the third party where they need your identity as KYC "know your customer" policy means. I find it just normal because things were just happen that way. No need to worry.

Generally, an ID or proof of address is only required if there is an airdrop taking place. However, in certain countries there are quite a bit of illegal things taking place which is equivalent to bribery, corruption and so forth. I have purchased bitcoin under my full name and surname I did not however provide an ID document but rather my banking details in order to exchange/purchase BTC

It's just the so-called means of preventing any possible risk.

Why you guys trying to bump out an almost 2 year old thread?

Going back on topic, You would really need to pass up KYC when you do make use exchangers that do follow with regulation with the government to prevent possible frauds and money laundering. 2 years ago is totally different on what we are experiencing as of now where verifications becoming already too strict when purchasing up bitcoins but somehow there are other ways which do oppose verification.

I was attracted to that old thread too! Let's see how things have changed! Now the verification of documents no one raises questions. It's become commonplace! Why then all complain about the fact that the price of bitcoin has decreased? I think that's the reason. Excessive regulation of cryptocurrencies has led to a drop in popularity and outflow of capital.

[hySyn17]

In many jurisdictions, it's not only "banks" but those that are in the business of transmitting money. So for example, brokers/exchanges that take your USD in exchange for Bitcoin, or wire you out USD need to hold certain licenses. Being a money transmitter entails certain AML and KYC policies. Different sites interpret the extent to which you must identify yourself differently. Basically, if fiat money is involved, you need to provide documents. If it is all crypto -- deposit, withdrawal, trading -- there are many sites which will not require documents.

[evescrypto]

One point on providing ID/proof of address, once fulfilled, it will eventually cause less hassle when dealing with different cashout methods because of complying with KYC initially.

[lokanot0]

Bitcoin has been very popular this past few year ever since it was made. This also means that it has attracted people who do scams, fraud, etc.. This type of method is for our protection. It is not like your giving the original copy of your detail, we are just giving them a picture of it.

[Immakillya]

WHY DO I NEED I.D. AND PROOF OF ADDRESS TO BUY BITCOIN ??

tried to but bitcoin at several hubs/sites
they all asked for goverment issued id and proof of address

what gives ? i thought bitcoin was anonymous ?

any suggestions ?

Bitcoin itself considered as anonimous my friend. But you need to understand that government is against this kind of thing. That's why they are implementing Anti-Money Laundering and Know Your Customer (AML/KYC) policy. For that, we don't have much choice but to follow their regulations or be labelled as criminal for violating such law. Anyway, if you really need to stay anonimous, your last resort must be peer to peer trading. You can use localbitcoins as a way of finding a person who are willing to transact with you and trade bitcoin to fiat. I that's your only way to stay anonymous. If that service is not available in your country. Then you don't have choice but to abide at government's regulations. Just check it for yourself. It's nothing to worry about these policy as long as you're not doing anything wrong or against this policy. You're doing just fine. Also you're gonna get much privilege when you follow it. More cash out options and you can use better crypto exchange. So, for me it's not that bad at all.

[marcbitcoins]

WHY DO I NEED I.D. AND PROOF OF ADDRESS TO BUY BITCOIN ??

tried to but bitcoin at several hubs/sites
they all asked for goverment issued id and proof of address

what gives ? i thought bitcoin was anonymous ?

any suggestions ?

This is necessary due to regulations to ensure that Bitcoin can't be use in illegal activities like money laundering and terrorist funding. There is nothing to worry about this as long as you have nothing to hide and ensure that the establishments are legal too so that your data could not be steal. Anyway, its your choice to comply or not to join this investments anymore if you really think it is hard for you to give your data.

[avikz]

WHY DO I NEED I.D. AND PROOF OF ADDRESS TO BUY BITCOIN ??

tried to but bitcoin at several hubs/sites
they all asked for goverment issued id and proof of address

what gives ? i thought bitcoin was anonymous ?

any suggestions ?

Bitcoin is pseudo anonymous! However, governments have made such rules to provide ID details to ensure that these bitcoins are not used for illegal activities. But there are ways to avoid such incidents. Try platforms like localbitcoins or paxful. If you are not buying and selling a very high amount, no one will bother you for your ID proof. Avoid using centralized exchanges and try peer to peer exchanges to get what you need without having to provide any ID proof. 

[Bharat24]

I think if there is trust of seal the then we don't hesitate to provide ID & Proof of address for cash out methods.

[Bitknick]

But after all, the biticon is not a banking product, and when it was supposed to be anonymous, then why prove the address?