WEX.nz

[erk]

guys hows going on with WEX?
is it trusted? it need forced verification ?

I'm still trading on WEX and everything is fine. It is one of the reliable exchange sites. I do not draw fiat directly so I do not understand about verification, I often use wex code.

WEX code is a unique (doubtless it is also WEX most useful) feature on the market but it's also the one that raises most concerns, because what it does gives any law enforcement enough grounds to suspend exchange's operations. Practically WEX codes are means to launder money via exchange (you can transfer codes without any KYC between users). Those codes will be shut down at some point - that's for sure.

People in Russia often easily exchange WEX codes for cash in 1:1 proportions despite its being blatantly illegal.

It's not unique, CEX.io has a similar code thing which I have used to consolidate funds between my CEX.io accounts.

The money laundering laws are interested primarily in fiat withdrawals from the exchange, even then the fiat is not held by the exchange instead it's a 3rd. party affiliated with a bank that is meant to know where money came from and ended up regardless of the steps in between. When you buy and sell coins on any exchange, the coins are changing hands, and the withdrawal can be reasonably anonymous if it's only crypto.

[mejim]

now bitcoin withdraws not showing up on blockchain someone?

[erk]

now bitcoin withdraws not showing up on blockchain someone?

When you send from WEX it will give you the the transaction ID under the Transaction History button, if it's there then the problem is not on WEX. Check a few block explores for that ID.

I have transactions this week from the wallets on my PC that don't show up on block explorers until after the 1st. confirmation.
The BTC network is not going so well, 250,000 transaction backlog.

https://bitcointalk.org/index.php?topic=2542462.0

[St. Michael the Archangel]

My recommendation for US customers with coins stuck on Wex:

Open an account on Wex using a VPN service that sets your IP address to a non-US country and pretend to be a non-US customer. Use a fake name. Set your account up so you don't have to go through verification. Put very little money into the account, since you will likely lose this money. Do not setup 2FA.

Now send Wex support a request from a different email address (one that was not used to open your Wex account) asking them to lock the account since your email was hacked.

Now you will be required to go through the verification process to regain access to the disposable test account you created. This is where your overseas friend uses your VPN account to try to pass verification.

If you are interested in leveraging a non-US individual, this is also a great way to test their commitment and loyalty. They can own two accounts on Wex so test their honesty using the test account scenario, and then if they pass the test, use them for the real deal.
It is time consuming to test this but I know there are people who have a lot of money at stake. This is worth trying. Please post back to this thread and let us know the results of this zero-risk test.

Thank you.

[Grabow]

Looking for advice on what to do with my tokens on WEX.

I am wanting to get all my accounts withdrawn.

Curious to know what others are doing with those tokens?

[erk]

Looking for advice on what to do with my tokens on WEX.

I am wanting to get all my accounts withdrawn.

Curious to know what others are doing with those tokens?

You have two options, hold them or sell them.

Others have either been holding them or selling them.

[Grabow]

Looking for advice on what to do with my tokens on WEX.

I am wanting to get all my accounts withdrawn.

Curious to know what others are doing with those tokens?

You have two options, hold them or sell them.

Others have either been holding them or selling them.

I traded my tokens for the real thing. Only losing about 6 coins over all.

[Ravihash]

Looking for advice on what to do with my tokens on WEX.

I am wanting to get all my accounts withdrawn.

Curious to know what others are doing with those tokens?

You have two options, hold them or sell them.

Others have either been holding them or selling them.

I traded my tokens for the real thing. Only losing about 6 coins over all.

And if we buy tokens at the actual rate 0,6. Will they redeem at the final redemption these tokens at the ratio of 1: 1
Thank you for your advise.

[Colorblind]

guys hows going on with WEX?
is it trusted? it need forced verification ?

I'm still trading on WEX and everything is fine. It is one of the reliable exchange sites. I do not draw fiat directly so I do not understand about verification, I often use wex code.

WEX code is a unique (doubtless it is also WEX most useful) feature on the market but it's also the one that raises most concerns, because what it does gives any law enforcement enough grounds to suspend exchange's operations. Practically WEX codes are means to launder money via exchange (you can transfer codes without any KYC between users). Those codes will be shut down at some point - that's for sure.

People in Russia often easily exchange WEX codes for cash in 1:1 proportions despite its being blatantly illegal.

It's not unique, CEX.io has a similar code thing which I have used to consolidate funds between my CEX.io accounts.

The money laundering laws are interested primarily in fiat withdrawals from the exchange, even then the fiat is not held by the exchange instead it's a 3rd. party affiliated with a bank that is meant to know where money came from and ended up regardless of the steps in between. When you buy and sell coins on any exchange, the coins are changing hands, and the withdrawal can be reasonably anonymous if it's only crypto.

My bad. Never used CEX.io before. Thanks for an update!

[rapidleech]

perfect money withdrawal need verification ?

[Error 522]

Has anyone sent btc direct from wex to another exchange?

Or would you recommend sending it to my private wallet first, then the other exchange?

[cupsdolphin]

Looking for advice on what to do with my tokens on WEX.

I am wanting to get all my accounts withdrawn.

Curious to know what others are doing with those tokens?

You have two options, hold them or sell them.

Others have either been holding them or selling them.

I traded my tokens for the real thing. Only losing about 6 coins over all.

I traded all my LTC for LTCET and hope they will be worth 1:1 LTC at some point in time during the next two years. Ratio is only 54,2% at the moment. If they indeed does redeem all the coins 1:1 I will have gained quite a lot from this. But it is also a bit risky. LTCET: 14.04% has been bought back sofar. The overall exchange volume is +$150 million daily right now, so should happen fast.

[squatter]

I traded all my LTC for LTCET and hope they will be worth 1:1 LTC at some point in time during the next two years. Ratio is only 54,2% at the moment. If they indeed does redeem all the coins 1:1 I will have gained quite a lot from this. But it is also a bit risky. LTCET: 14.04% has been bought back sofar. The overall exchange volume is +$150 million daily right now, so should happen fast.

That's a very ballsy move. I hope it works out. I think it probably will; WEX is performing better than many expected, and it's new structure seems to be holding up to scrutiny from affiliation with BTC-e. If I had to guess, the exchange has been accumulating the tokens at a discount. They said at the outset to expect 1-2 years for full repayment. I think one year is a reasonable guess at this point.

Unfortunately, it doesn't get the free advertisement of being listed at the top of Bitcoinwisdom anymore (in fact, they still list BTC-e there). Exchange Wars lists WEX at #17 right now.

It's not unique, CEX.io has a similar code thing which I have used to consolidate funds between my CEX.io accounts.

The money laundering laws are interested primarily in fiat withdrawals from the exchange

Not sure, given the SEC's recent ruling. They said that cryptocurrency payments should be treated like cash with regard to AML/KYC. I'm guessing that means that inter-account codes are problematic above a certain dollar amount. Doesn't apply to WEX anymore since they don't serve US residents, but it would apply to CEX.io. I had no idea CEX.io had codes like that.

[erk]

Not sure, given the SEC's recent ruling. They said that cryptocurrency payments should be treated like cash with regard to AML/KYC. I'm guessing that means that inter-account codes are problematic above a certain dollar amount. Doesn't apply to WEX anymore since they don't serve US residents, but it would apply to CEX.io. I had no idea CEX.io had codes like that.

SEC ruling is of no concern to WEX because they explicitly refuse to trade with people in the US as per their Terms of service.

[Error 522]

Has anyone sent btc direct from wex to another exchange?

Or would you recommend sending it to my private wallet first, then the other exchange?

Nvrmind I answered my own question.

Sent it direct to another exchange.

Was worried the exchange might flag it as tainted coin but there were no problems.

[c4c4c4]

https://bitcointalk.org/index.php?topic=2594521.msg26406679#msg26406679

please respond to accusation

[goodcointrader]

I seen people have withdraw issues. I have seen people with other altcoin (then ETH) with the same issues.
Ive also read that wez.nz says that the transaction is completed, but does not exist on blockchain. Even an unconfirmed transaction (slow transaction) should exist on blockchain.
Can anyone confirm that this exchange is safe to use or not?

[kewpie]

People using Wex cause there is no other good options to buy BTC or ETH with roubles without big comission. But I still cant add roubles to my wex wallet

[rasdaniil]

Hi

Does anyone know if in case of swift/sepa deposit to wex the sender and receiver names should match?

I want someone else to deposit money into my account via swift/sepa

Thanks

[vmcrown]

Goodday!
My withdraval of ZEC doesnt have transaction ID. Many new blocks in explorer. But no transaction for me?
Need help!
Ticket id 27937