BitPay users outraged by mandatory verification

BitPay customers have been urged to switch to other processors amid the service’s introduction of mandatory verification. This is stated in в сообщении on the r/Bitcoin subreddit.

On January 12, BitPay representatives stated that, for security reasons, they had introduced registration requiring the provision of an email address.

For payments of $3,000 or refunds exceeding $1,000, users must obtain a BitPay ID. The service requires a photo 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 Reddit post author suggested that the company is aiming to grow its user base in this way. In his view, the verification runs counter to the principles underlying the first cryptocurrency.

“It was supposed that we would be able to send Bitcoin freely without needing to register anywhere,” noted a user.

He urged customers to boycott BitPay and to send letters to online retailers that partner with the service demanding they switch to other processors.

“Let’s throw them out of this community for good. The last thing we want is for the company to make it harder to use Bitcoin,” the message says.

Some users backed avoiding BitPay. Others noted that integrating cryptocurrency into the current financial system is the only way forward.

Earlier BitPay required verification from corporate clients who used the BitPay Send platform for bulk cryptocurrency payouts.

In December 2020, the cryptocurrency derivatives exchange BitMEX ceased serving unverified users.

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