Crypto Bridge is asking for KYC suddenly

[Consignee 2395]

Crypto Bridge is a decentralized exchange which means there is no sense of asking for KYC verification. But now they suddenly asking for KYC has been implemented from 1st of October, a lot of users will be in trouble I think since there's no time to withdraw the fund. This is not fair, they must announce it before implementation.

[hexwin 4931]

Yes, I posted this on our Daily News section with more information

There are other Bitsdhares alternatives people can use, and they dont aks for KYC.

I think that CryptoBridge will soon die for low volume

 

Edited October 3, 2019 by hexwin

[DIY Tube Video 239]

From what I understand, the US Gov is behind this. They are pushing for all exchanges to have KYC and also to attach a customer's ID along with each transaction. Its disgusting and goes against what crypto was all about in the beginning.

[xBDT Script 4371]

12 minutes ago, DIY Tube Video said:

From what I understand, the US Gov is behind this. They are pushing for all exchanges to have KYC and also to attach a customer's ID along with each transaction. Its disgusting and goes against what crypto was all about in the beginning.

I have a question, If a site or company is outside the USA territory then can US government push them? The common sense will be no but I am not sure if I am right with common sense here.

4 hours ago, Consignee said:

Crypto Bridge is a decentralized exchange which means there is no sense of asking for KYC verification.

Not making sense, how a decentralized exchange control such thing? What is the point of decentralization then if there is a central authority to monitor?

Edited October 2, 2019 by xBDT Script

[DIY Tube Video 239]

1 minute ago, xBDT Script said:

I have a question, If a site or company is outside the USA territory then can US government push them? The common sense will be no but I am not sure if I am right with common sense here.

Its easy. They block US citizens from using their site. The US has a lot of power. They can pursue a company in a foreign country legally by pressuring the country first, then the company second.

 

A newer coin I have been mining and watching finally got listed on an exchange. Sadly I cannot participate on the exchange because I am in the US. They wont let me. The exchange does not meet the qualifications for KYC for US citizens.

 

Its even worse. In the socialist governed State of NY, you cant even deal in crypto at all, last I heard. My friend cant even get a coinbase account there unless he moves to a different state.

[xBDT Script 4371]

1 minute ago, DIY Tube Video said:

Its easy. They block US citizens from using their site. The US has a lot of power. They can pursue a company in a foreign country legally by pressuring the country first, then the company second.

Well this meant to happen if their currency is backed by US dollar LOL

This s**t is funny to me. US dollar backed buy nothing (well actually debt) and all other currency is backed by US 😆

Stupid game.

[hexwin 4931]

If they want exchanges can make compromise and make tiers with no mandatory KYC.

CryptoBridge could do this, but no, they did not.

They will soon die anyway....

[Consignee 2395]

2 hours ago, DIY Tube Video said:

A newer coin I have been mining and watching finally got listed on an exchange. Sadly I cannot participate on the exchange because I am in the US. They wont let me. The exchange does not meet the qualifications for KYC for US citizens.

You can try bitcointalk marketplace, I believe you will find a buyer certainly or you can share which coin it is. I may use escrow and will buy if I find it worthy. 

[DIY Tube Video 239]

22 minutes ago, Consignee said:

You can try bitcointalk marketplace, I believe you will find a buyer certainly or you can share which coin it is. I may use escrow and will buy if I find it worthy. 

I mined GRIMM for a while. I shut it down to wait and see what happens with the coin but I have followed it since day one.

 

I am not ready to sell them off yet but I want to follow the market and price. If it spikes suddenly and starts to drop, I will take that as a possible indicator of scam and dump my coins. But if not, I will wait and see.

[cryptokram 102]

Dex excahnge are for free users who wants freedom from KYC.

Sell or transfer your tokens to your wallet or other exchange which has no kyc! if you have a choice!

hold on, do you need to do KYC right away before withdrawal? or you can continue using it without KYC but with a withdrawal limit daily?

[Consignee 2395]

32 minutes ago, DIY Tube Video said:

I mined GRIMM for a while. I shut it down to wait and see what happens with the coin but I have followed it since day one.

 

I am not ready to sell them off yet but I want to follow the market and price. If it spikes suddenly and starts to drop, I will take that as a possible indicator of scam and dump my coins. But if not, I will wait and see.

I see, I think you are not in profit now and you must hold it. I can't see a good exchange though. There's no much volume as well. Good luck with you coins.

[DIY Tube Video 239]

20 minutes ago, Consignee said:

I see, I think you are not in profit now and you must hold it. I can't see a good exchange though. There's no much volume as well. Good luck with you coins.

Thank you. I am always looking for a new coin, mining it and waiting to see. All I need is one like Ethereum or Bitcoin 🙂

[1millionClub 494]

This is some bad news. If that's the case then the next best dex is bisq probably. Thanks god they don't operate on a domain name and it is impossible to ban bisq.

Use bisq instead.

[Consignee 2395]

26 minutes ago, 1millionClub said:

This is some bad news. If that's the case then the next best dex is bisq probably. Thanks god they don't operate on a domain name and it is impossible to ban bisq.

Use bisq instead.

There's some other good dex as well, problem is whoever had balance on crypto bridge they have to fill KYC to withdraw their balance, this is a clear shit step and I count it as scam.

28 minutes ago, DIY Tube Video said:

Thank you. I am always looking for a new coin, mining it and waiting to see. All I need is one like Ethereum or Bitcoin 🙂

Got it. Stay around, you will get one certainly. I invite you to have a study on epic Cash if you haven't done yet. Will love it.

[dentolas 551]

14 hours ago, Consignee said:

There's some other good dex as well, problem is whoever had balance on crypto bridge they have to fill KYC to withdraw their balance, this is a clear shit step and I count it as scam.

 

Same think happened to me with Bittrex international... the exchanges just knidnapp your funds until you go through KYC... on Bittrex case, they've sent me an e-mail (which I didn't see in time), and 1 week after my account was blocked for withdrawals

As for Crypto bridge, just tried yesterday and they say the KYC is only necessary for US customers, but in the end I'm non US and still have my funds locked waiting for KYC

So, this is not a decentralized vs centralized... this is just proof that sometimes we think crypto is so hard to control or ban, and in the end, the same guys keep holding the leach...

If they do not allow the user to withdraw the funds if it chooses not to go through KYC, for me it is stealing, as the funds are yours, not theirs

[Paranoxxx 228]

9 hours ago, dentolas said:

Same think happened to me with Bittrex international... the exchanges just knidnapp your funds until you go through KYC... on Bittrex case, they've sent me an e-mail (which I didn't see in time), and 1 week after my account was blocked for withdrawals

As for Crypto bridge, just tried yesterday and they say the KYC is only necessary for US customers, but in the end I'm non US and still have my funds locked waiting for KYC

So, this is not a decentralized vs centralized... this is just proof that sometimes we think crypto is so hard to control or ban, and in the end, the same guys keep holding the leach...

If they do not allow the user to withdraw the funds if it chooses not to go through KYC, for me it is stealing, as the funds are yours, not theirs

I'm also not in the US and my funds are locked too. KYC is necessary to withdraw my coins. Support didn't answer. I hope to get my coins without the KYC procedure.

[Consignee 2395]

1 hour ago, Paranoxxx said:

I hope to get my coins without the KYC procedure.

Forget about that, you are not allowed to withdraw fund without KYC, I don't know whether they will come with new update and allow people to withdraw their fund or not, but you must have given some times to people to withdraw. It's a clear attempt to steal users.

[dentolas 551]

12 hours ago, SalmanKhan said:

I am afraid of this KYC demands. There has been info of misuse or hacking in some exchanges. I hope I have to give up. Bad news.

I also don't do KYC unless I need to due to this type of scam. Spreading personal/sensitive info around the web is not a good policy, especially for a handfull of tokens/coins

As to Cryptobridge, I don't have much hope to be allowed to withdraw my funds without KYC... on my Bittrex case, I was in contact with support and they just told me bluntly that without KYC, no funds...

I'll wait and see what happens, not sure if I'll go through KYC

[Consignee 2395]

21 minutes ago, dentolas said:

I also don't do KYC unless I need to due to this type of scam. Spreading personal/sensitive info around the web is not a good policy, especially for a handfull of tokens/coins

As to Cryptobridge, I don't have much hope to be allowed to withdraw my funds without KYC... on my Bittrex case, I was in contact with support and they just told me bluntly that without KYC, no funds...

I'll wait and see what happens, not sure if I'll go through KYC

If you have much funds, you have no way but to go through the KYC process because you will not let them scam our thousands of dollar. This is why it's advised to people not to hold a lot of money in exchange. Hopefully you didn't have much there.

[dentolas 551]

40 minutes ago, Consignee said:

If you have much funds, you have no way but to go through the KYC process because you will not let them scam our thousands of dollar. This is why it's advised to people not to hold a lot of money in exchange. Hopefully you didn't have much there.

Not much, this is why I am thinking if it will be worth to go through KYC... I had put a small amount in BCO and left it staking, the reward was much lower than expected and BCO has lost a lot of value lately... so, to withdraw BTC I would have to exchange it and will surely loose money... more reasons not to go through KYC.

I always try to leave the minimum possible in any exchange, centralized or decentralized, nevertheless if you want to have some orders open there is no choice but to leave some amount on the exchange. I try to diversify in order not to put all the eggs on the same basket,, but the one I trust the most is Binance

[Consignee 2395]

2 minutes ago, dentolas said:

Not much, this is why I am thinking if it will be worth to go through KYC... I had put a small amount in BCO and left it staking, the reward was much lower than expected and BCO has lost a lot of value lately... so, to withdraw BTC I would have to exchange it and will surely loose money... more reasons not to go through KYC.

I always try to leave the minimum possible in any exchange, centralized or decentralized, nevertheless if you want to have some orders open there is no choice but to leave some amount on the exchange. I try to diversify in order not to put all the eggs on the same basket,, but the one I trust the most is Binance

If it's not a huge amount, I suggest you not to going through KYC, let them scam you the amount. Binance is trusted but still I think it's not good to practice holding fund in any exchange.

[mX4² 94]

Seems starting from 1st Oct, CryptoBridge can't catogorized as decentralized exchange anymore because of their new rules of KYC verification.

[dentolas 551]

1 minute ago, Consignee said:

If it's not a huge amount, I suggest you not to going through KYC, let them scam you the amount. Binance is trusted but still I think it's not good to practice holding fund in any exchange.

I agree, but what to do if you want to sell some of your coins and can't be watching the prices all the time? there are apps that send alerts, but in my line of work I usually can't carry my phone...

what do you do?

[Consignee 2395]

2 minutes ago, dentolas said:

I agree, but what to do if you want to sell some of your coins and can't be watching the prices all the time? there are apps that send alerts, but in my line of work I usually can't carry my phone...

what do you do?

You can create a topic on this. We can discuss this there. You will get more response certainly, and will find a way to get it done. Hope you don't mind it.

[dentolas 551]

11 minutes ago, Consignee said:

You can create a topic on this. We can discuss this there. You will get more response certainly, and will find a way to get it done. Hope you don't mind it.

Done, good idea 😉