Why on earth would I provide you with an ID + selfie or even a selfie video (a video of myself! are you insane!) to buy coins via SEPA? Do those vendors not understand how this site works?
You don´t release the coins until after you have received the payment! So why on earth would I send you my ID, pictures or even a VIDEO of myself? And how stupid are people who go along with those insane requirements, giving complete strangers pictures of their ID! Identity theft here I come! I can only conclude that those people engage in just that and are scammers. After the transaction, when you provide them with ID and often phone number as they request, they know your:
Phone number
Address
Bank account details
Are you honestly kidding me? Wtf is this shit?
Still appreciate the rational people who just release coins after receiving money, but they are like a needle in a haystack.
Unfortunately, bank account theft and chargebacks are a real threat for sellers, so some traders opt for such requirements in order to deter scammers, even if it will also repel privacy-conscious users along the way. Not all traders require this, so if such requirements are unacceptable to you, you’re free not to engage with such traders. We’re a free market and we allow our users to enter whatever agreements they like.
There is something so deeply wrong with a seller of a crypto currency requesting a selfie video that nothing can justify it in my eyes, but of course you are right that I can (and will) ignore those sellers. However, it reeks of scam to me, even though they claim they do it to protect themselves against scammers. The amount of personal details you hand over to them is simply indiscussable.
The really great thing about a free market… if you identify a way to serve people better than anyone currently advertises or is willing, you have the opportunity to become the seller that you believe is missing from the market. Because if you looking for it, many others are too!
Maybe you don’t have time for that but I know there are those making $100k to $500k / year dealing in cryptos. If 500k/year is not worth your time, then this suggestion is not for you.
Here, I will even tell you how to do it step by step:
1: Advertise to sell XMR via PayPal / credit card / Venmo / personal check - whatever floats your boat. Ask for market-rate +20%. Advertise that you require zero KYC / ID. You will get more business than you know what to do with. There are many users who would be very interested in trading with you.
2: Buy XMR from dealers at market rate. Maybe keep around 100 XMR in your account to float things as you go. As you sell 1 XMR, buy 1 XMR. If you don’t have enough to buy 100 XMR, that’s okay. You can start with any amount. There will be someone interested in any amount you are willing to offer.
3: $$$$
I’d bet you could flip $100k in your first day. Make 20% minus expenses. It’s like free money. Work 3 days a month and spend 27 days a month sipping margaritas on a sandy beach somewhere.
I understand if you don’t have time for that nonsense. I don’t either.
Here’s a hint though: It’s like free money (just not for you).
oh yeah it was a nightmare at first to buy monero because of this silly ID nonsense. why would i buy an anonymous crypto… with ID? i swear some of these vendors are glow in the darks. probably feds putting you on a database.
check back at different times of the day though, when i discovered to do that i found one or two trustworthy guys i buy from regularly now
I had exactly the same thoughts when I first started here. Why the ID? Isn’t this supposed to be anonymous? And I still don’t like it.
But when I began selling XMR it took about 2 weeks before I was hit by a scammer. Sold £300 to someone in what seemed like a completely normal trade. Friendly guy, quick payment. Then 2 days later I wake up and try to log into my bank account and it was suspended. When I rang the bank they told me someone has claimed a fraudulent transaction of £300 has left their account and it’s been sent to my account.
I was very lucky because I argued hard for a whole week while my account was locked and refused to return the money. My bank eventually returned 1/3 of the money (without telling me) and then unlocked my account. Afterwards I spoke to a few other sellers here and found that they had all had the same thing happen to them. Except their accounts were closed permanently.
Banks offer no protection against this for vendors unless you have ID from the buyer. It’s a real shame.
It’s unfair to be angry at the vendors. We really do just want to sell XMR as quickly and easily as possible. We wouldn’t ask for ID if we didn’t need to.
I know it’s a pain in the ass but be angry at the scammers who cause this
Lol if you think its so easy you should do it. I was a seller who accepted paypal and Venmo. It was going great for about a whole week and then both of them freeze my accounts. I lost about $4k from paypal and $2k from venmo. I was able to get $2.5k back from paypal but the rest was gone. I was also charging 20% plus. I don’t ask people for id but I stopped accepting those forms of payment where I could get chargedback.
It fucking sucks getting you accounts frozen. I am still trying to recover $3k
As someone who has been targeted by scammers and had my bank account frozen twice in 14 trades, I currently only required users to have verified email addresses. 3 of my trades are under investigation and I’m not sure whether all the information I’ve provided will be enough for me to keep my money. I’m going to be increasing my requirements because of this. It might seem shit for the people buying XMR but look at it from our point of view.
