--snip-- and no one would get access to my coins.
THEY have access to your coins...
YOU don't have access to your coins...
When you use their app and you're withdrawing funds, all you're doing is asking them if they pretty please (with a cherry on top) want to create a transaction using your funds (which you don't controll) if it's not to much trouble... This is not a wallet, it's an exchange (as said before), an exchange with over-the-top KYC procedures that selectively lock accounts based on factors they do not want to disclose.
If you want to give all controll away and no longer be your own banks, that's up to you... Just don't come crying if they lock your account again and ask access to your social media accounts to unlock your account (and if you're like me, you don't have any active social media accounts with your real identity, so you're pretty much f*cked)
Their KYC procedure can ask for following things... I suppose that if you fail to provide a single one, they can keep your funds?
?
- screenshots of any incoming transactions or deposits to Freewallet from the INITIAL SOURCE. They have a bunch of extra requirements for these screenshots
- Provide information about the origin of funds. They have a bunch of extra requirements for these screenshots
- A clear closeup photo of your identification document in English. What if you don't live in an english speaking country? Grounds to rob you i guess?
- A photo of yourself in front of the image “Attention” (an image they provide) open on your app or your monitor
- A recent copy of a bank card statement, an excerpt from a household register, a tax bill or tax return or a utility bill payment receipt. If these documents aren't in English, you need a NOTARIZED translation... Woooooop, these things cost a lot of money.... If they're not stealing several hundred bucks from you, you might aswell forfeit your funds...
- Links to active profiles in any social network
source:
https://support.freewallet.org/support/solutions/articles/9000184127-how-to-pass-kyc-procedure-On top of this, i've heared they're asking video proof aswell...
This is not a service where i'd keep my funds... like, ever... But bitcoin is about the freedom of choice... If you chose this service, it's up to you... We will not stop you (we couldn't if we tried).