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Author Topic: Verify, verify, verify  (Read 212 times)
Cementhead43
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July 31, 2017, 04:16:30 PM
 #1

Hello bitcoin talk. New member here. I've been researching crypto for a few weeks now and reading many posts on here in the last few days. I decided to invest and buy 1 BTC today. I am purchasing on bitstamp thru sin trex using my CC. I planned on moving to BTC .com wallet that is supposed to support BCC on the fork tomorrow.
 I have some comments to make. I verified thru bitstamp and it took a day or so. Then I have to verify again on sintrex to make a purchase. The verification process seems very time consuming and a little bit frustrating as a consumer. I am not a programmer but I am a constant user of electronic equipment and this process of verification is almost painful enough to deter people from buying and using crypto.
 Somebody needs to streamline this process to make it more user friendly if it is to become the new way of paying for things IMO.
 Anyways, looking forward to doing more research and trying some trading on the crypto market.
Have a nice day!
Cementhead43
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July 31, 2017, 07:12:30 PM
 #2

because too many scammers and hackers on cryptoworld. thats why those exchangers and websites need to confirm your identity.


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Velkro
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July 31, 2017, 09:14:07 PM
 #3

because too many scammers and hackers on cryptoworld. thats why those exchangers and websites need to confirm your identity.
Or they need to be safe, because goverments have regulations that if they not enforce it, they can go to prison.
Noone want to go there, so they ask to confirm identity. Thats it.

odolvlobo
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July 31, 2017, 09:16:15 PM
 #4

Hello bitcoin talk. New member here. I've been researching crypto for a few weeks now and reading many posts on here in the last few days. I decided to invest and buy 1 BTC today. I am purchasing on bitstamp thru sin trex using my CC. I planned on moving to BTC .com wallet that is supposed to support BCC on the fork tomorrow.
 I have some comments to make. I verified thru bitstamp and it took a day or so. Then I have to verify again on sintrex to make a purchase. The verification process seems very time consuming and a little bit frustrating as a consumer. I am not a programmer but I am a constant user of electronic equipment and this process of verification is almost painful enough to deter people from buying and using crypto.
 Somebody needs to streamline this process to make it more user friendly if it is to become the new way of paying for things IMO.
 Anyways, looking forward to doing more research and trying some trading on the crypto market.
Have a nice day!
Cementhead43

Unfortunately, it won't get better. The identification steps are necessary for two reasons:

1. The current financial system makes it very easy for a merchant accepting credit cards and electronic payments to get scammed.
2. Money services businesses with U.S. customers are required to monitor and report your activities to the U.S Government.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Join an anti-signature campaign: DannyHamilton's ignore list
Cementhead43
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July 31, 2017, 09:48:18 PM
 #5

I can understand going thru verification 1 time but shouldn't be necessary any more after 1 verification.
GreenProject
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August 01, 2017, 04:55:32 AM
 #6

Hey welcome to the community!

Various exchanges are looking into automating their verification process. It would make sense if exchanges shared this information but if anything was lost or stolen via transfer that would be a problem. Perhaps encryption via blockchain would solve this problem ironically enough.

That is a freebie for any programmer out there.

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