Bitpay $3000 limit without ID verification

[Tanquen256]

Yesterday I needed to place a Newegg order that was over $3000 and Bitpay stopped and asked that I complete the ID verification process through Onfido. It did not say why but I found the information about the $3000 limit, so I changed the order to be less then $3000 and everything worked.

Today I tried to place another order under $3000 and Bitpay is again stopping me and wanting to do the ID verification.

So, I can only make one purchase under $3000 ever without ID verification or do I need to wait 24 hours or a week?


“When making a purchase over 3000 USD or receiving a refund over 1000 USD (or equivalent in other currencies), buyers must complete the BitPay ID verification process through Onfido.”


I tried to ask support but they act like they don't know.

To clarify, there is no limit to the invoice amount that you can purchase. You would have to verify if the amount is over 3000 USD, however there is no limit to what you can purchase.

Then after asking again:

To clarify, we require shoppers to go through the BitPay ID verification process if they generate more than 3000 USD worth of invoices.

Then after asking again:

We could recommend waiting 24 hours from the last purchase that you made via BitPay to see if you are able to make another payment.

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[jackg]

That means their support probably doesn't know.

I'm assuming it's tracking your IP like you'd track someone in person. Trading more than €16000/£15000 cash in one transaction in Europe requires kyc/aml be done. Doing that in multiple trades also requires kyc/aml if the company recognises it, I'm not sure what time period is suggested for that though (I'd assume monthly or weekly).

The laws on btc go off a similar thing as the international recommendation was $3000 for a transfer should require kyc. I don't think they want to publicise how often this can be done as that might violate regulations (on the case of bitpay).

[pedrog]

Only time I've used Bitpay was to deposit 800 euros worth of bitcoin to Skrill and I had to pass KYC.

[yahoo62278]

With Bitpay being located in the USA they have to abide by the USA laws. FINCEN and the IRS make them report large transactions for anti money laundering purposes. Even if you didn't have KYC on all your transactions under 3k, they are legally required to give your info to the government if you spend 20k in a year with them.

[o_e_l_e_o]

I'm assuming it's tracking your IP like you'd track someone in person.

They could be tracking anything. IP address, browser fingerprint, personal details you gave to the vendor, even physical delivery address. I'm quite surprised OP was able to make the initial purchase at all, as I was under the impression that BitPay were now starting to request blanket KYC for every user on every purchase.

I would suggest that a better option than trying to evade BitPay's requirements would be to email Newegg and inform them you will not be buying from them until they swap to a payment processor which does not invade your privacy and risk your security, and find a different vendor to buy from in the meantime.

https://debitpay.directory/anti-bitcoin/

[Bitcoin_Arena]

According to this article It seems that once you hit the $3K mark on a total of a transaction volume, you may need to verify before using the account again.

Why is Additional Verification Required?
Payments ≥ 3000 USD or refunds ≥ 1000 USD require users to provide additional verification (verification requirements may differ by region and/or amount) by obtaining a BitPay ID.

[hugeblack]

Do not try to bypass the verification by deleting the cookies and others, because they will track and record everything, so the $3,000 limit will be applied to you.
The limits are for the user but the question is how long they will keep your data.
Mostly they keep it for a month and then you may be able to come back again but I'm not sure (some cases have similar limits after the amount of transactions during the month exceeded 3000 dollars)

Generally, as long as you want to use this service, you must verify identity.

[shasan]

You may get 3000$ limit for next month. But those site which ask for verification you should verify your kyc to avoid any time of problems. Because many a times they may not ask verification and anytime they can hold your fund for verification. In this case if you provide wrong/ misinformation then they may lock your fund and you may lose that fund.

[PrimeNumber7]

I'm assuming it's tracking your IP like you'd track someone in person.

They could be tracking anything. IP address, browser fingerprint, personal details you gave to the vendor, even physical delivery address. I'm quite surprised OP was able to make the initial purchase at all, as I was under the impression that BitPay were now starting to request blanket KYC for every user on every purchase.

According to the BitPay API documentation for creating an invoice for a customer to pay, the merchant has to give Bitpay the customer's name, address, email and phone number. If you are buying digital goods, you could potentially provide made-up information that changes, but if you need whatever you are buying to be shipped to you, there is a limit as to how much of this you can change.

As others have noted, BitPay only requires KYC verification if a "transaction" is above $3000, or $1000 for refunds. The OP said he placed an order "yesterday" and was asked to perform KYC verification "today" when he tried to place an additional order. It is possible the order the OP placed "yesterday" was actually placed "today" according to whatever timezone BitPay is using to track transactions. I would suggest to the OP that he make sure 24 hours have passed since he placed his prior order and try placing his order again.

Placing many $2990 orders within a short time frame may be frowned upon by BitPay, and doing so might cause them to force you to complete KYC verification on the next order you place, regardless of amount.