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Author Topic: BITSTAMP HOLDING MY FUNDS!!!!  (Read 106 times)
BlockManiaaa
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August 06, 2019, 12:46:21 PM
 #1

Bitstamp asked for additional KYC Information which breaches my privacy. I requested Wire Transfer to my Bank and they do not want to do it. Those are MY Funds and they are holding it and do not want to give it back!

I saw a lot of people have the same problem!

Bitstamp return my FUNDS!!!!!!

https://www.reddit.com/r/Bitstamp/comments/cmq213/bitstamp_is_holding_my_funds/
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August 06, 2019, 01:59:34 PM
 #2

Bitstamp asked for additional KYC Information which breaches my privacy. I requested Wire Transfer to my Bank and they do not want to do it. Those are MY Funds and they are holding it and do not want to give it back!

I saw a lot of people have the same problem!

Bitstamp return my FUNDS!!!!!!

https://www.reddit.com/r/Bitstamp/comments/cmq213/bitstamp_is_holding_my_funds/

Hmmm, lets see you have not posted in over a year.
Unless I missed something every other one of your 68 posts is about safex coin.
You put money into Bitstamp an exchange that always wanted KYC information. And always said so.

https://www.bitstamp.net/article/new-form-simplifies-kyc-procedure/

And now you come here and complain.

Why do you think you are special and do not need to comply with the rules of a business that made them quite obvious?

-Dave




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August 06, 2019, 02:11:40 PM
 #3

Unfortunately, BlockManiaaa.
I agree with DaveF and I'm curious how come your topic belongs to "Economy > Marketplace > Service Discussion" section.

KYC may be not cool for everyone but still - it exist.

Best wishes.


 
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mjglqw
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August 06, 2019, 04:09:18 PM
 #4

KYC information are unfortunately a requirement for these services. If they don't require KYC, they might get shut down by the government; especially if the business is running in the US.

Well, at least you already successfully withdrawn your funds. If you don't want KYC next time, probably try Bisq[1]. Though the liquidity is bad, at least it doesn't have KYC. Also, hopefully you don't store your funds on exchanges if you don't trade them.


[1] https://bisq.network/

bitmover
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August 06, 2019, 06:54:21 PM
 #5

When dealing with fiat, kyc is almost always involved.

What did you think? That you would make an anonymous financial transaction to your bank account? Also, you gave them your banking information, they already know who you are. They just need documents for legal reasons.

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August 06, 2019, 07:41:18 PM
Merited by mjglqw (1)
 #6

KYC information are unfortunately a requirement for these services. If they don't require KYC, they might get shut down by the government; especially if the business is running in the US.

we take that as a given, but bitstamp is known for horribly invasive KYC that is difficult to comply with. they don't simply require an ID and proof residence like most exchanges. occupation, net worth, annual income, source of funds, etc including proof. good luck proving your mining, trading, or any other crypto-sourced income. Wink

even when people have complied with their KYC re fiat income, bitstamp has tied funds up for months and closed their accounts. they also have a history of imposing unfair fees/exchange rates when returning the customer's money.

i would not recommend bitstamp to anyone.

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August 06, 2019, 08:32:09 PM
 #7

i would not recommend bitstamp to anyone.

Seconded. There's KYC and then there's them probing the interior of your organs. They can suck my saggy butt. I'm fully signed up there. I ain't dipping in there ever again.

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August 06, 2019, 09:08:51 PM
 #8

Bitstamp asked for additional KYC Information which breaches my privacy. I requested Wire Transfer to my Bank and they do not want to do it. Those are MY Funds and they are holding it and do not want to give it back!

I saw a lot of people have the same problem!

Bitstamp return my FUNDS!!!!!!

https://www.reddit.com/r/Bitstamp/comments/cmq213/bitstamp_is_holding_my_funds/

Comply with the additional KYC. That is just your only choice.

Being a hot-headed will not help you even it's really frustrating at your part. They hold your funds so we need to cooperate on them. After successfully withdrawing your funds then start spreading bad things to them at various forums.

Just hope that after you comply with KYC, everything will go smoothyl from there.
timerland
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August 07, 2019, 04:26:50 AM
 #9

Bitstamp does have pretty ID verification from what I believe and isn't like regular exchanges that just require a passport/drivers license and a proof of address. I wouldn't really use them for anything, especially with so many exchanges out there that are very trusted and also don't require KYC unless you want to trade a lot of funds daily (Binance, Kucoin).

I've heard from friends that they ask for the source of your BTC (for a mining friend, he had to take photos of him next to miners, and showcase a lot of other privacy-breaching stuff just to withdraw his funds), as well as other things mentioned by figmentofmyass.

As much as it sucks, unless you are willing to give out a LOT of information about you, give up. Hopefully, it isn't a lot of money and you recover mate.

BlockManiaaa
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August 14, 2019, 11:21:24 AM
 #10

Bitstamp asked for additional KYC Information which breaches my privacy. I requested Wire Transfer to my Bank and they do not want to do it. Those are MY Funds and they are holding it and do not want to give it back!

I saw a lot of people have the same problem!

Bitstamp return my FUNDS!!!!!!

https://www.reddit.com/r/Bitstamp/comments/cmq213/bitstamp_is_holding_my_funds/

Hmmm, lets see you have not posted in over a year.
Unless I missed something every other one of your 68 posts is about safex coin.
You put money into Bitstamp an exchange that always wanted KYC information. And always said so.

https://www.bitstamp.net/article/new-form-simplifies-kyc-procedure/

And now you come here and complain.

Why do you think you are special and do not need to comply with the rules of a business that made them quite obvious?

-Dave

It isn't a problem to ask for proof of funds when you deposit your coins.
The problem is asking for it after 6 months when you want to withdrawal your funds and not giving you any information about the problem.
Also, Bitstamo is not a financial institution and they can not hold your funds(exceptional is when  the court tell them to hold it)
If you do not give KYC info to the bank they give your money back and close the account.
Btw, I did a KYC verification when I opened my account on Bitstamp.

Yes, I complain about bad stuff. What is the problem about posting post about the project that you support.

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August 14, 2019, 11:29:59 AM
 #11

I've heard from friends that they ask for the source of your BTC (for a mining friend, he had to take photos of him next to miners, and showcase a lot of other privacy-breaching stuff just to withdraw his funds), as well as other things mentioned by figmentofmyass.

That's bleedin' outrageous. I'd like to know what one's position is if you simply can't supply the info they're demanding. There are tons of dead exchanges and pools with no way of retrieving the information.

BlockManiaaa
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August 15, 2019, 09:24:06 AM
 #12

I've heard from friends that they ask for the source of your BTC (for a mining friend, he had to take photos of him next to miners, and showcase a lot of other privacy-breaching stuff just to withdraw his funds), as well as other things mentioned by figmentofmyass.

That's bleedin' outrageous. I'd like to know what one's position is if you simply can't supply the info they're demanding. There are tons of dead exchanges and pools with no way of retrieving the information.


That is a question that Bitstamp won't answer...
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