Gate.io Now requires KYC for Deposit ?

[JeevanjotSingh]

Hello Everyone,

I was depositing some tokens to Gate.io but after several confirmations, the gate.io deposit records stopped on the wrong number (less than required) of confirmations for my transaction to pass (I thought it was some bug but...), Even After 3 days, I checked that the original amount of confirmations have been passed their requirement to deposit funds but the record stays on wrong number. When I asked the customer support of gate.io they said to wait for some more time.

I contacted Gate.io Again (After way more confirmations than required), They said they are holding my funds to complete my KYC. Even after several contacts to their support, they are forcing me to add KYC so they may add the transaction to my account.

With their un-informative approach and nil-support like this, I want a refund of my money now (I want them to send back the same amount of tokens to my wallet from where I sent them to their wallet assigned to my account) But they said they can't (Which definitely doesn't make any sense If they can't withdraw from Contracts and perform transfer then what are they gonna do if a customer KYC got rejected always or a KYC approved customer wants to withdraw or don't they have any transfer function in their exchange ?)

I just want my money back in my wallet, I don't want to give them KYC anymore (that's my personal information and I can't give them this in any way now even if they credit it to my account, especially after this kind of treatment),

- Why there are addresses available to deposit if they can't make funds available on gate.io and required KYC for this, Why not ask KYC before generating addresses. That doesn't seem ethical.
- They didn't credit my money on my dashboard
- I haven't used their exchange operations at all with my account
- My money is on hold (in their contracts) for more than a week.

No page or anything tells us about deposit holds for KYC. That is just bad, because what if someone wants to catch a moment in market?

https://i.ibb.co/x7hGf0k/image.png

https://www.gate.io/article/17399

I just want a straight-up 100% of my tokens back to my original wallet from where I sent them to their wallet assigned to me, No matter what they have in mind now. I want to perform other operations that I have planned after that much wait, I asked them politely every time for my request so we can have better customer relations in the future, but they keep forcing me for my personal details even after telling them several times I don't want to submit to them for some personal reasons. Can someone please give some suggestions, what should I do now, I do not want to give them KYC?

[JeevanjotSingh]

Not just trading but even crediting them on dashboard require KYC, then why make addresses for deposit available and keep money on hold? I am not going on the second option other than having my tokens back in my own wallet.

[cryptoaddictchie]

Wt**** for real? I didn't know even for depositing they will require KYC that's BS. Most of the exchange requires KYC with above minimum trade of 2btc daily, now they are adding requirements that is totally not necessary here. I have an account for gate but never used it for a very long time so if ever I will trade there and there is something like this then I definitely pass.

[JeevanjotSingh]

Wt**** for real? I didn't know even for depositing they will require KYC that's BS. Most of the exchange requires KYC with above minimum trade of 2btc daily, now they are adding requirements that is totally not necessary here. I have an account for gate but never used it for a very long time so if ever I will trade there and there is something like this then I definitely pass.

you are 100% correct.

[JeromeTash]

Weird how some exchanges really operate. If someone must verify with them then I guess the best approach would be to request for KYC right after one signs up. No KYC, no deposit address instead of just holding onto someone's funds. I don't know if they have any rep around the forum, but this should be a valid scam accusation. At least they should be able to send back the money to the owner if he's not willing to accept their KYC ambush.

[Quidat]

Weird how some exchanges really operate. If someone must verify with them then I guess the best approach would be to request for KYC right after one signs up. No KYC, no deposit address instead of just holding onto someone's funds. I don't know if they have any rep around the forum, but this should be a valid scam accusation. At least they should be able to send back the money to the owner if he's not willing to accept their KYC ambush.

If its firstly stated on their ToS that theres a KYC for deposit and the user had failed to read it after taking such action then i can say that he do still have some mistake on this one
but overall which it is really surprising that platforms do really end up on having this kind of set-up? Gate.io is bit known but not really that popular.
I agree into your point that if they do intend to impose KYC for deposit then they should apply it directly when someone is making out an account so that
every new user would really be aware that they would needed to make some KYC first before proceeding  any further actions.

[JeevanjotSingh]

Weird how some exchanges really operate. If someone must verify with them then I guess the best approach would be to request for KYC right after one signs up. No KYC, no deposit address instead of just holding onto someone's funds. I don't know if they have any rep around the forum, but this should be a valid scam accusation. At least they should be able to send back the money to the owner if he's not willing to accept their KYC ambush.

I feel exactly the same after this experience.

[JeevanjotSingh]

Weird how some exchanges really operate. If someone must verify with them then I guess the best approach would be to request for KYC right after one signs up. No KYC, no deposit address instead of just holding onto someone's funds. I don't know if they have any rep around the forum, but this should be a valid scam accusation. At least they should be able to send back the money to the owner if he's not willing to accept their KYC ambush.

If its firstly stated on their ToS that theres a KYC for deposit and the user had failed to read it after taking such action then i can say that he do still have some mistake on this one
but overall which it is really surprising that platforms do really end up on having this kind of set-up? Gate.io is bit known but not really that popular.
I agree into your point that if they do intend to impose KYC for deposit then they should apply it directly when someone is making out an account so that
every new user would really be aware that they would needed to make some KYC first before proceeding  any further actions.

Very true, They should have written clearly instead of saying "You can deposit while preparing for Identity verification, but please make sure you have finished it before withdrawing."  Also, you can find another line saying "Once your account is verified, you can ask to raise withdrawal limit for a specific coin" but what withdrawal limits are they referring to is not clear either and you cannot find any table on gate.io till now that tells you what limits you have in different verification levels. Quite disappointed, I don't want them to deposit, Just want them to send my tokens back.

[JeromeTash]

If its firstly stated on their ToS that theres a KYC for deposit and the user had failed to read it after taking such action then i can say that he do still have some mistake on this one

I don't know which ToS you read, but I read the user agreement, and they talk about not permitting deposits if there's no KYC. Not first waiting for someone to deposit their funds and then block them.

XII Know Your Customer (KYC)
Gate.io may, in its discretion, require you going through identity
verification and other screening procedures to protect itself from
involvement in any money laundering or other criminal activities. You
may be required to provide certain personal information, including but
not limited to, your name, address, phone number, photographic proof
of your identity, and information regarding source of fund. You agree
and authorize Gate.io to require information from you directly or
through a third party and you understand and agree Gate.io has right to
not permit any deposits, trades and withdrawals until proof satisfactory
to Gate.io in its sole discretion is received and reviewed

[malcovi2]

oh well time to find other exchangers.. I guess its probably because they are accepting US customers. They dont want to get in trouble with the SEC just like bitmex

[JeevanjotSingh]

Hey guys,
Update:
They seem to understand my issue and after some confirmations and proof of tokens. They helped me.

[joniboini]

They seem to understand my issue and after some confirmations and proof of tokens. They helped me.

Did they clarify about the KYC issue though? Do users need to KYC first before they can use the platform at all, or there is a limit on withdrawal/deposit before you get the KYC flag? The faq is quite confusing.

I don't remember when but the last time I used them I don't get this mandatory KYC, albeit I only trade for $100 or so.