I was just sitting there, minding my own business, taking stock of my assets when I decided to boot up the ol cryptsy account – I used to be much more active on trading alt-coins but lately I’ve been more focused on learning Python and Ethereum for both trading bots and also to play around with the concept of DACs.
When clicking on my dashboard there is now a prominent – VERIFY ACCOUNT section posted at the top. Clicking this link brings to you an unfriendly page requesting everything from your first born son to a social security number (no but they are requesting a drivers licence, a photo of you holding your drivers licence, a utility bill, whether or not you are actively mining, and how much expected monthly volume is to be. While I understand the importance of following protocols involving KYC and AML rules from Fincen, what I don’t understand is why they felt compelled to be sly and throw the following little gotcha onto my account:
On the one hand – $30K USD per month for withdrawal of bitcoin using an unverified account makes sense, its a nice, healthy amount that could be used to cover 95% of user needs – but how does ‘slapping a limit’ – effectively preventing me from pulling out all my money in an efficient manner (I wouldn’t be able to withdraw more than 1.53 BTC to a cold storage address without being verified as it now stands) make any sort of sense?
