SauRoNZA
Honorary Master
You know there is a reputable exchange with a round blue icon you can use instead right…
One day when the regulation comes knocking and Binance isn’t compliant how stuck do you think your crypto will be?
-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: Have you ever been to an airshow?
Bitcoin Thread
- Thread starter Dan C
- Start date
- Status
You know there is a reputable exchange with a round blue icon you can use instead right…
One day when the regulation comes knocking and Binance isn’t compliant how stuck do you think your crypto will be?
Sorry, I am very slow tonight - been a bad day; what round blue icon? That is exactly why I tried Binance because of all CZ's protestations of how they were cleaning up their act all over the world.
Fulcrum29
Honorary Master
He means Luno.
Concerning Binance. Have you tried with your driver's license? I know exchanges can be stubborn with the green book, but I guess it is to mitigate risk.
L0gic B0mb
Active Member
- Joined
- Jun 4, 2018
- Messages
- 54
- Reaction score
- 72
Last purchase I made was via coinbase but the value stays the same.
Any recommendations on how I can purchase crypto, hold on to it and watch the value go up and down over time?
I understand the risks.
Any recommendations on how I can purchase crypto, hold on to it and watch the value go up and down over time?
I understand the risks.
Sensorei
Executive Member
Bitcoin is up over 70% this year. Anyone who bought any time this year before the last few days has made money. What are you buying on Coinbase that you are not making money?
I did try with the driver;s license, but was told that it wasn't an acceptable document.
Sensorei
Executive Member
I used my passport for Binance.
What crypto were you buying? ETH and BTC have been doing a lovely dance recently - lots of small moves and some quite nice ones all on Coinbase. I have actually pulled off some of the charts as examples of patterns and relationships.
Unfortunately mine has expired and I haven't been able to renew it since things loosened up after lockdown.
IMO they shouldn't present an option that is not even implemented and then not state WHY the ID is rejected. That would be all that a competent system would do. "Sorry, you seem to have entered a South African ID number. Binance does not recognise RSA ID documents. Please use an alternative method."
NarrowBandFtw
Honorary Master
ran into the exact same issue with eToro months ago fwiw
the problem is basically the 3rd party service many of these guys use e.g. Onfido, Jumio etc has varying results and / or policies when it comes to different document types
they typically don't recommend accepting drivers licenses as those are faked more often than anything else, the greenbook ID is also deemed less secure so it is not accepted
your only choice really is to get ZA's smart ID card or renew your passport, either of those should work fine
Slowestclock
Senior Member
- Joined
- Oct 14, 2022
- Messages
- 610
- Reaction score
- 380
Or draw cash and hit up a BTC atm?
Both of which involve visiting Home Affairs! I guess I will have to finally do it, but in the words of GBS: "I'd rather have a dentist to be drilling --- "
Slowestclock
Senior Member
- Joined
- Oct 14, 2022
- Messages
- 610
- Reaction score
- 380
I bought btc at the Sandton atm when it was 10k to btc, cash limit was 15k for deposits. Transferred instantly to my wallet no ID/fica nonsense needed.
backstreetboy
Honorary Master
- Joined
- Jun 15, 2011
- Messages
- 49,397
- Reaction score
- 56,416
NarrowBandFtw
Honorary Master
yup, I know, I went through that with eToro and would never have bothered unless I had money stuck there
at least if you go via eHome affairs it can be less painful than in the past (IF the f-ing website works on the day you try) and you can do the smart ID and passport renewal at the same time
question for you though, my Binance stuff also expired, didn't care because I don't need it much and don't have money there, but going through the verification process there's an option to be verified without supplying a document (it failed on my first try, can't retry yet) ... did you give that a try?
that one that says "ID Number: No Document Required":
PS: note also the ID Card option specifically uses the word "card", that might be a hint that they don't accept the ID book, or it could just be generic given that most countries have an ID card
Hi,
After a whole day of trying to get somewhere, I was told that I could try the ID Book in the option for ID Card. The trouble here was that my laptop camera doesn't photograph the laminated pages well enough. [I can't use the app because my iPhone6 can't install the app.]. Then I was told by Customer support to try my drivers license - not accepted as someone else above said would be the case.
FINALLY at around 9pm, I manged to get an answer from the Support Team that the option to use ID Numbers without need for documentation is not applicable to South Africa! This is what sparked off my rants about websites, coding and Telegram groups.
The arguments around CBDCs, and especially extrapolations from Ron DeSantis' desire to prevent a Federal CBDC being used in Florida again raise the primary reason for existence of BTC and similar decentralised currencies.
The logical outcome of the the development of CBDCs would be each state, and perhaps even larger cities having, its own currency. Without any standard to back these (personally, Donald Trumps NFTs doesn't strike me as quite the thing!), such local cryptos will be economic disaster. Exactly like what I see as the fate of alt coins becoming blockchain based store cards. The dollar-standard vacuum will give a Chinese CBDC clear power. Such a scenario will really turn the fears of Big Brother much, much less of a conspiracy narrative into a reality.
If CBDCs gain ascendancy, this should be the defining moment for BTC or some similar coin to become the standard of exchange. I don't believe BTC can achieve this purely because of the way bitcoinists have driven the "going to the moon" narrative, which has turned BTC into a rampant speculative asset. The best thing that could happen for BTC is that prices stay fairly low, AND for some other coin to become the go-to speculative asset. That way, BTC (and its shadow, ETH}, would become less volatile and real stores of value.
Come on Elon, tweet more about your doggie.
The logical outcome of the the development of CBDCs would be each state, and perhaps even larger cities having, its own currency. Without any standard to back these (personally, Donald Trumps NFTs doesn't strike me as quite the thing!), such local cryptos will be economic disaster. Exactly like what I see as the fate of alt coins becoming blockchain based store cards. The dollar-standard vacuum will give a Chinese CBDC clear power. Such a scenario will really turn the fears of Big Brother much, much less of a conspiracy narrative into a reality.
If CBDCs gain ascendancy, this should be the defining moment for BTC or some similar coin to become the standard of exchange. I don't believe BTC can achieve this purely because of the way bitcoinists have driven the "going to the moon" narrative, which has turned BTC into a rampant speculative asset. The best thing that could happen for BTC is that prices stay fairly low, AND for some other coin to become the go-to speculative asset. That way, BTC (and its shadow, ETH}, would become less volatile and real stores of value.
Come on Elon, tweet more about your doggie.
I've got give it to the US govt/SEC, they are doing everything in their power to regulate the s**t out of crypto, I wonder what they fear so much lol
On a side note, I just don't see XRP/ripple coming out on top in their court case, no way will the powers that be allow it.
On a side note, I just don't see XRP/ripple coming out on top in their court case, no way will the powers that be allow it.
Get the rules such that any CBDC they develop benefits. Digital currencies of some sort are already here and will take over completely.
This and similar likely cases in the future are also part of the reason that the SEC is pursuing all sorts of highly publicised settlements.
- Status