Localbitcoin Not allowing the Withdraw

[virasog]

I got the below reply from their support and it is not very encouraging. What should i do now  

What they said. You have two options:

1. Withdrawal now and close account.
2. Wait until they introduce the new verification for people of your country to be able to keep using them.

It all comes to: Do you need your money now? Do you mind having your coins stuck with them? Would you verify your account and keep using them? etc...

If OP has a business at localbitcoin of buy/sell and have good reputation, he may wait but I am interested to know how much BTC is stuck at localbitcoins, as if there is a small amount it might worth be waiting and not closing the account.

On the other hand, if OP is an occasional trader at lbc, it is better if he can close the account and get his btc back. Once localbbitcoins announces new terms, he may make a new account. 

[UmerIdrees]

They have finally suggested me to delete the account and get the bitcoins back.
Also they have given me the link from where i can delete my account.

[UmerIdrees]

They have finally suggested me to delete the account and get the bitcoins back.
Also they have given me the link from where i can delete my account.

Luckily i did not delete my account and waited. Today i got his email from them and got some hope.

Does this means that the ban is being lifted ?

[logfiles]

They have finally suggested me to delete the account and get the bitcoins back.
Also they have given me the link from where i can delete my account.

Luckily i did not delete my account and waited. Today i got his email from them and got some hope.

Does this means that the ban is being lifted ?

https://talkimg.com/images/2023/07/19/nUVLP.png

No,  as far as i know it hasn't been lifted mate. It is instead an additional verification form you have to fill up by answering a bunch of stupid questions like your source of income,  how much you earn etc. After answering all that crap,  you still have to go through the old KYC verification procedure.

[ChuckBuck]

No,  as far as i know it hasn't been lifted mate. It is instead an additional verification form you have to fill up by answering a bunch of stupid questions like your source of income,  how much you earn etc. After answering all that crap,  you still have to go through the old KYC verification procedure.

Why not? According to the content that he receives (images), some countries will be activating, it means the ban will be removed. It could be some stupid questions or verification method, it doesn't matter, as long as we need it, we have to complete it to continue using our service.
But if we still have to do the old KYC procedure, nothing is luck, it's like creating a new account. UmerIdrees, have you tried verification again?

[stompix]

No,  as far as i know it hasn't been lifted mate. It is instead an additional verification form you have to fill up by answering a bunch of stupid questions like your source of income,  how much you earn etc. After answering all that crap,  you still have to go through the old KYC verification procedure.

Yeah, so what, do the KYC, the problem was that before that you were banned from trading on LB if you were from those countries, no matter what verifications you provided, you were completely cut off, even if you have been a member for years with no dispute.

It seems like indeed some are getting accepted as I see traders from different countries on that list with offers, from Pakistan to Yemen.
Either way, that list makes no sense, why is Bosnia there? It's a country that is an acknowledged candidate for both NATO and EU, there is now ar going on there...how can you put them on the same level as Yemen or Afghanistan?

Dunno what is going over at LB but they seem to have no plan whatsoever...

[BitSat19]

This is really shit policy by localbitcoins.com as they are asking for extra verification with many shit questions which are not related to them now I am feeling its going to be more worst for users from countries which are listed on screen I am not going to clear this all and now want to stay away as its very poor decision from them they need to think about this and have some better way for this verification.

[TryNinja]

This is really shit policy by localbitcoins.com as they are asking for extra verification with many shit questions which are not related to them now I am feeling its going to be more worst for users from countries which are listed on screen I am not going to clear this all and now want to stay away as its very poor decision from them they need to think about this and have some better way for this verification.

What kind of question, if I may ask?

Maybe their data tells them that these countries have more cases of fraud, terrorism, or something and they want to let only the "good" users come in.

[BitSat19]

This is really shit policy by localbitcoins.com as they are asking for extra verification with many shit questions which are not related to them now I am feeling its going to be more worst for users from countries which are listed on screen I am not going to clear this all and now want to stay away as its very poor decision from them they need to think about this and have some better way for this verification.

What kind of question, if I may ask?

Maybe their data tells them that these countries have more cases of fraud, terrorism, or something and they want to let only the "good" users come in.

They are asking about
What is your occupation?
What is your estimated annual net income in Euros?
What is your estimated net worth in Euros?
Employment income
Annual income*
Start of employment*          End of employment
Please provide appropriate supporting documentation*
When have you invested in bitcoin for the first time?
How much have you invested in bitcoins?
Where do the funds (fiat and/or bitcoins) that you intend to use/have used in LocalBitcoins come from? In other words, which part of your total wealth provides the funds that you intend to use/have used in LocalBitcoins? Select as many options as relevant.*

Please inform an estimate of the total volume in fiat you intend to trade per month*

Please inform an estimate of the total amount of received Bitcoin transactions into your LocalBitcoins wallet (excluding buy trades in LocalBitcoins) per month*

Which payment methods you intend to use while trading in LocalBitcoins? Select as many options as relevant.**



 

[malevolent]

Either way, that list makes no sense, why is Bosnia there? It's a country that is an acknowledged candidate for both NATO and EU, there is now ar going on there...how can you put them on the same level as Yemen or Afghanistan?

Dunno what is going over at LB but they seem to have no plan whatsoever...

https://www.knowyourcountry.com/bosnia1111

Bosnia isn't joining the NATO or the EU anytime soon. It's safe it probably made the list due to corruption or money laundering, politically it's still a mess, the country largely relies on remittances. Another reason why in the past it frequently made similar list due to having EU/USA/UN sanctioned individuals living there and Bosnia not doing enough about them.

[stompix]

Bosnia isn't joining the NATO or the EU anytime soon. It's safe it probably made the list due to corruption or money laundering, politically it's still a mess, the country largely relies on remittances.

You realize that even the link you posted mentioned:

Bosnia and Herzegovina is no longer on FATF’s list of AML deficient countries

That is the only thing that should matter to LB.

Secon, yeah they might not be accepted but they are recognized as a candidate.
And if we talk about deficient countries, why is Bosnia on the list and not Moldova or Belarus or Turkmenistan or god how many countries in Africa?
Rusia and Ukraine have hundreds of people on the sanctioned list and look, LB is operating there perfectly.
Common, there is no serious reason to have them on that list and not a hundred others.

[malevolent]

I don't know, but there must be a reason why this country made the list. Maybe it's more expensive to KYC users from Bosnia and remain compliant, maybe they block a lot of accounts from Crimea without explicitly blocking the entire region.

[ChuckBuck]

skip

Damn it, they're all bullshit questions  I don't understand why they made such a silly KYC policy. I remember another question of yours, are you a political person? It doesn't even work if someone wants to lie  The need to use it makes us accept and answer those damn questions, it's the worst KYC policy I've ever known.

I don't know, but there must be a reason why this country made the list. Maybe it's more expensive to KYC users from Bosnia and remain compliant, maybe they block a lot of accounts from Crimea without explicitly blocking the entire region.

It is possible that due to the laws of the government, if the government bans cryptocurrency trading, localbitcoin will do the same to the citizens of this country. Does the government ban it?

[UmerIdrees]

No,  as far as i know it hasn't been lifted mate. It is instead an additional verification form you have to fill up by answering a bunch of stupid questions like your source of income,  how much you earn etc. After answering all that crap,  you still have to go through the old KYC verification procedure.

Why not? According to the content that he receives (images), some countries will be activating, it means the ban will be removed. It could be some stupid questions or verification method, it doesn't matter, as long as we need it, we have to complete it to continue using our service.
But if we still have to do the old KYC procedure, nothing is luck, it's like creating a new account. UmerIdrees, have you tried verification again?

I want to do the verification but they are asking for my income source and a document proof of it. Since i do a day job, what should i do ?  I should request my company to issue me a Experience certificate which i should attach at local bitcoins  ? 

[logfiles]

I want to do the verification but they are asking for my income source and a document proof of it. Since i do a day job, what should i do ?  I should request my company to issue me a Experience certificate which i should attach at local bitcoins  ? 

You certainly have no choice but get the required verification documents if you want to continue using them but if i were you, i would delete my account and get my bitcoins back and move on. They aren't the only P2P bitcoin trading platform after all and it isn't worth the hustle

[BitSat19]

I want to do the verification but they are asking for my income source and a document proof of it. Since i do a day job, what should i do ?  I should request my company to issue me a Experience certificate which i should attach at local bitcoins  ? 

You certainly have no choice but get the required verification documents if you want to continue using them but if i were you, i would delete my account and get my bitcoins back and move on. They aren't the only P2P bitcoin trading platform after all and it isn't worth the hustle

I already do this same and now looking for my other options because these rules are really nothing as they are facing some serious problems in last few months specially in liquidity and now creating more problems for many others.

[ChuckBuck]

In case you need to find another P2P trading platform, you can look here: A list of LocalBitcoin alternatives (P2P marketplaces). Just withdraw all your money there and delete your account, we don't need to try to make bullshit verifications from them. We have many options, whichever is easier should be a priority.

Good luck!