LocalBitcoins and Tier verification's

[magneto]

As you know that local bitcoins is making it compulsory for thier users to get verified prior to October 1.
Details here : https://localbitcoins.com/blog/tier-verification-deadline-extended/

I want to know what is the minimum requirement to be able to buy / sell bitcoins from the site. If i am verified at Tier 0 only, do i still need to complete the tier 1 and tier 2 verification ?

You don't need to go through tier 1 verification for as long as you stay under their prescribed limits, which IIRC is 1000 EUR.

If you want to go through to tier 1, then you get 20k EUR a year in limits which isn't a lot actually. It seems like that the lowest viable tier that you need to be in if you want to trade actively on LBC as an advertiser would be tier 2, which demands proof of address alongside the traditional proof of ID.

It's honestly pretty crappy for regular traders to have to go through this. Like me, I personally don't use LBC that much, just to cash out my coins occassionally for expenses and vice versa, but tier 0 is just impossible to use right now unless you create multiple accounts which goes against their ToS.

[zhekinsp]

As you know that local bitcoins is making it compulsory for thier users to get verified prior to October 1.
Details here : https://localbitcoins.com/blog/tier-verification-deadline-extended/

I want to know what is the minimum requirement to be able to buy / sell bitcoins from the site. If i am verified at Tier 0 only, do i still need to complete the tier 1 and tier 2 verification ?

You don't need to go through tier 1 verification for as long as you stay under their prescribed limits, which IIRC is 1000 EUR.

If you want to go through to tier 1, then you get 20k EUR a year in limits which isn't a lot actually. It seems like that the lowest viable tier that you need to be in if you want to trade actively on LBC as an advertiser would be tier 2, which demands proof of address alongside the traditional proof of ID.

It's honestly pretty crappy for regular traders to have to go through this. Like me, I personally don't use LBC that much, just to cash out my coins occassionally for expenses and vice versa, but tier 0 is just impossible to use right now unless you create multiple accounts which goes against their ToS.

In case if people open multiple accounts they will be banned? They have option to monitor the IP logs of every registration?

But 20K limit can be obtained by submitting our passport which is not a big deal if someone being legit with the source of bitcoin obtained.

[akamit]

This LBC verification is killing me... I tried to verify tier 2 for the two times and both of the times it got rejected because of the fu**ing selfie.
I think I can guess what was the problem. I didn't have any beard in my ID photo but now I got a long beard. It seems the person who is in charge of the verification can't match my face as me in both ID and selfie.

My tier 1 limit is over by 185% and now I'm having tier 2 verification issue - I'll just not cut out my beard for this verification. I'm angry

[zhekinsp]

This LBC verification is killing me... I tried to verify tier 2 for the two times and both of the times it got rejected because of the fu**ing selfie.
I think I can guess what was the problem. I didn't have any beard in my ID photo but now I got a long beard. It seems the person who is in charge of the verification can't match my face as me in both ID and selfie.

My tier 1 limit is over by 185% and now I'm having tier 2 verification issue - I'll just not cut out my beard for this verification. I'm angry

When did you tried the verification process,they have some issues in the verification process due to long queue to get verified in the last month so this might be the reason why you got rejected.Even myself got verified in the second attempt after a week from the first attempt to get verified for tier 2.So you may need few more attempts to get verified or you have to clean shave and try it.

[carlfebz2]

This LBC verification is killing me... I tried to verify tier 2 for the two times and both of the times it got rejected because of the fu**ing selfie.
I think I can guess what was the problem. I didn't have any beard in my ID photo but now I got a long beard. It seems the person who is in charge of the verification can't match my face as me in both ID and selfie.

My tier 1 limit is over by 185% and now I'm having tier 2 verification issue - I'll just not cut out my beard for this verification. I'm angry

When did you tried the verification process,they have some issues in the verification process due to long queue to get verified in the last month so this might be the reason why you got rejected.Even myself got verified in the second attempt after a week from the first attempt to get verified for tier 2.So you may need few more attempts to get verified or you have to clean shave and try it.

He already submitted for 2x and he wouldnt want to be striked with 3x rejection and as you had read that he wont cut that awesome beard of his just for that verification so this will just matter of decision if he would sacrifice it up. lol

So far i dont have any problems with their verification process yet ive been approved with one attempt.They are really just keen with face details but its impossible for that support cant able to determine a face with bear or without ? hahaha

[zhekinsp]

This LBC verification is killing me... I tried to verify tier 2 for the two times and both of the times it got rejected because of the fu**ing selfie.
I think I can guess what was the problem. I didn't have any beard in my ID photo but now I got a long beard. It seems the person who is in charge of the verification can't match my face as me in both ID and selfie.

My tier 1 limit is over by 185% and now I'm having tier 2 verification issue - I'll just not cut out my beard for this verification. I'm angry

When did you tried the verification process,they have some issues in the verification process due to long queue to get verified in the last month so this might be the reason why you got rejected.Even myself got verified in the second attempt after a week from the first attempt to get verified for tier 2.So you may need few more attempts to get verified or you have to clean shave and try it.

He already submitted for 2x and he wouldnt want to be striked with 3x rejection and as you had read that he wont cut that awesome beard of his just for that verification so this will just matter of decision if he would sacrifice it up. lol

So far i dont have any problems with their verification process yet ive been approved with one attempt.They are really just keen with face details but its impossible for that support cant able to determine a face with bear or without ? hahaha

Like I mentioned it depends on when he tried to get verified.If he done that in the past month then imagine situation of what I had mentioned.

If this is happened in this week then he is supposed to contact support team for further details about why he got rejected.

[akamit]

This LBC verification is killing me... I tried to verify tier 2 for the two times and both of the times it got rejected because of the fu**ing selfie.
I think I can guess what was the problem. I didn't have any beard in my ID photo but now I got a long beard. It seems the person who is in charge of the verification can't match my face as me in both ID and selfie.

My tier 1 limit is over by 185% and now I'm having tier 2 verification issue - I'll just not cut out my beard for this verification. I'm angry

When did you tried the verification process,they have some issues in the verification process due to long queue to get verified in the last month so this might be the reason why you got rejected.Even myself got verified in the second attempt after a week from the first attempt to get verified for tier 2.So you may need few more attempts to get verified or you have to clean shave and try it.

He already submitted for 2x and he wouldnt want to be striked with 3x rejection and as you had read that he wont cut that awesome beard of his just for that verification so this will just matter of decision if he would sacrifice it up. lol

So far i dont have any problems with their verification process yet ive been approved with one attempt.They are really just keen with face details but its impossible for that support cant able to determine a face with bear or without ? hahaha

Like I mentioned it depends on when he tried to get verified.If he done that in the past month then imagine situation of what I had mentioned.

If this is happened in this week then he is supposed to contact support team for further details about why he got rejected.

@zhekinsp
I tried to verify about 5 days ago and when I got rejected 2 times then I've contacted support. IIRC, then after 2 days, they replied with the same verification link I used before. But I haven't got the time to do the verification for the 3rd time.


@carlfebz2
You guessed it right. I won't be sacrificing my beard so soon for this verification process.
That's why I asked my younger brother for help to create a new account in his name (he didn't had an account before) so that I can do some transaction when I need it until I trim my beard at least.

[malevolent]

If you aren't obfuscating any details, you're risking closure of both your accounts, I think I'd keep this to myself.

[Findingnemo]

That's why I asked my younger brother for help to create a new account in his name (he didn't had an account before) so that I can do some transaction when I need it until I trim my beard at least.

Get yourself verified soon after creating the account with your brother's identity for tier1.Then you have chances of finding trades but newbie with no trade history is going to be tough to find trades.Better sacrifice your beard dude. (just for sarcasm)

[buwaytress]

Strange. I got verified all the way to Tier 2 in about the same time it took me to find out it was required, take new docs and trim them to submit. Tier 1 I got within minutes, and Tier 2 within the hour. And I was good to go as usual. In fact, I never have any problem verifying except when the platform doesn't support documents from my country. And I actually look quite different from most of my IDs, but I think face recognition probably ignored facial hair, for example.

@akamit You really don't want to get both accounts blocked. How old is your trading account?

@zhekinsp You don't need any amounts to reach any tier, you can verify any time, even a new account can.

[Findingnemo]

Strange. I got verified all the way to Tier 2 in about the same time it took me to find out it was required, take new docs and trim them to submit. Tier 1 I got within minutes, and Tier 2 within the hour.

Seems you are lucky,for me it takes 2 week to get their approval after submitting all the documents so it maybe based on queue,if there is no pending documents you will be approved straight away or it may take time.But never had issues with facial recognize.

[Docnaster]

Localbitcoins have changed their policies a number of times in all their years of existence. The fact that they have tried to enforce these compliance regulations is why they have been able to survive in so many countries without much of a hiccup. Despite what the centralized exchanges would have you believe, these p2p exchanges are the backbone of the crypto space.

Although, I will be moving away from them because of the heavy documentation..

[Indymoney]

Strange. I got verified all the way to Tier 2 in about the same time it took me to find out it was required, take new docs and trim them to submit. Tier 1 I got within minutes, and Tier 2 within the hour.

Seems you are lucky,for me it takes 2 week to get their approval after submitting all the documents so it maybe based on queue,if there is no pending documents you will be approved straight away or it may take time.But never had issues with facial recognize.

Same happen to me I submit documents and all cleared within few minutes because I also don't want to lost my account as its worth to me so if some one serious in his work then surely he need to complete these all because now many exchanges also doing these formalties as day by day authorties forcing them for this.

[Findingnemo]

Strange. I got verified all the way to Tier 2 in about the same time it took me to find out it was required, take new docs and trim them to submit. Tier 1 I got within minutes, and Tier 2 within the hour.

Seems you are lucky,for me it takes 2 week to get their approval after submitting all the documents so it maybe based on queue,if there is no pending documents you will be approved straight away or it may take time.But never had issues with facial recognize.

Same happen to me I submit documents and all cleared within few minutes because I also don't want to lost my account as its worth to me so if some one serious in his work then surely he need to complete these all because now many exchanges also doing these formalties as day by day authorties forcing them for this.

It depends on everyone's trading activity and their need of converting into fiat.For people like me it is important to have since I am doing trading on it but if someone rarely convert into fiat then it may not require to verified for Tier 2 or more.

[akamit]

@akamit You really don't want to get both accounts blocked. How old is your trading account?

I haven't done anything wrong that my account or my brother's account will get blocked. I have my account (almost 3 years old) and my brother created a new account (some days old)... That's it! Both accounts are Tier 1 verified with our own personal info and my account will be Tier 2 verified soon enough when I'll trim my beard I guess.

What I actually did is just asked my brother for a favor which is... "I'm sending you some satoshis and you make a local exchange for me; I'm having an issue with my account for now".

I hope, to ask for a favor to my own brother isn't a crime in the eyes of LBC.

[UmerIdrees]

Today i received an email from local bitcoins

In order to continue using our services, please, check and update your verification to Tier 2 before Nov, 1:

Why is that ? I am already verified at Tier 1. My trading volume does not exceed the limit of Tier 1. So why should i update to Tier 2 ?
Other people also got such emails ?

[akamit]

Today i received an email from local bitcoins

In order to continue using our services, please, check and update your verification to Tier 2 before Nov, 1:

Why is that ? I am already verified at Tier 1. My trading volume does not exceed the limit of Tier 1. So why should i update to Tier 2 ?
Other people also got such emails ?

Possibly LBC is sending emails selectively to its users because I haven't received such email yet while I need Tier 2 verification to use their service.

or maybe LBC is sending emails in batches and I may receive later; this can be a reason also why I haven't received yet.

[fratoshi]

Localbitcoin has been a reliable exchange for over the years, but nowdays is impossible to trust anything and i don't trust localbitcoins with my KYC documents, what if happens like Binance? and then my KYC end up on some chinese telegram group?
I recommend everyone to withdraw your coins immediately and storage on your wallet, not your keys not your coins

[stompix]

Today i received an email from local bitcoins

In order to continue using our services, please, check and update your verification to Tier 2 before Nov, 1:

Why is that ? I am already verified at Tier 1. My trading volume does not exceed the limit of Tier 1. So why should i update to Tier 2 ?
Other people also got such emails ?

Longshot here...
Is your transaction volume over the limit? Transactions, not trade!
There was a case like this on reddit and it might be possible but there was zero-confirmation or feedback it was caused by this!

Drop support an email, we can only guess here after all

[akamit]

Again my Tier 1 verification got rejected, still don't know the reason. It's really a pain now.
I trimmed my beard and then tried to verify and got rejected again - so now I don't know any possible reason(s).

Localbitcoin has been a reliable exchange for over the years, but nowdays is impossible to trust anything and i don't trust localbitcoins with my KYC documents, what if happens like Binance? and then my KYC end up on some chinese telegram group?

Believe me or not, whenever I do KYC in any exchange my heartbeat rises to the maximum by thinking only one thing "what may happen in the future with my ID? Am I safe?".

Authorities force platforms to comply with KYC thingy and the platforms force us to do so but authorities don't assure us that our docs will be safe... Do they?? I don't know about it.