I have observed with the exchanges and payment companies related to these there is extreme amounts of ID requirements. Consider that google pay and paypal dont need any photo id checks. A typical bank is happy to just see a utility bill and thats it. Whilst e.g. I have had to send 2 photos of my passport to moneypolo, a bank statement, and now they want to do a video interview, absolute insanity. All the exchanges I have registered on also want photos of passport and government documents. One exchange wants me to hold my passport next to my face. Another payment processor wants 2 photo id's a government document and a utility bill and details of my tax status and income.
All this just to cash out my coins.
I expect in a few years we will find out about all these photos etc. been used for identity fraud.
Submitted August 28, 2017 at 08:34PM by needchr http://bit.ly/2wVLqlm
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