BitPay customers were encouraged to switch to other processings amid the introduction of mandatory verification by the service. This is stated in a message on the r / Bitcoin subreddit.
On January 12, BitPay representatives said they had introduced registration with the mandatory provision of an email address for security reasons.
For payments of $ 3000 or more or more than $ 1000 returns, users must receive a BitPay ID. The service requires a photo of an ID, a passport number and a selfie. For US residents, the list also includes a social security number.
The changes have angered some BitPay customers. The author of the Reddit post suggested that in this way the company is increasing its user base. In his opinion, verification contradicts the principles laid down in the first cryptocurrency.
“We were supposed to be free to send bitcoin without the need to register anywhere,” the user noted.
He urged customers to boycott BitPay and send a letter to online stores that cooperate with the service, demanding to switch to other processors.
“Let’s kick them out of this community forever. The last thing we want is for the company to complicate the use of bitcoin, ”the message says.
Some users supported the rejection of BitPay. Others have noticed that integrating cryptocurrencies into the current financial system is the only option for their development.
Previously, BitPay required verification from corporate clients who used the BitPay Send platform for massive payments in cryptocurrency.
As a reminder, in December 2020, the BitMEX cryptocurrency derivatives exchange stopped serving unverified users.
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.