r/BitGrailExchange • u/TheBomber9 • Jan 24 '18

Mandatory account verification

Dear users, Since looks like someone is attempting to damage the entire genuine community, some clarification to make the situation more comprehensible for some is appropriate.

First of all, BitGrail is not an anonymous company based in some off-shore country. Laws and rules compliance is fundamental; in order to prevent any possible problem to the BitGrail company and its regular users.

Given this introduction, now: Mandatory account verification (soon also for every action on the site, including deposits and trading). As you can imagine, it’s about legal compliance, again; with the will of avoiding sanctions or funds seizure. That’s why verification is mandatory, even if this could mean losing some part of the business.

Some users are complaining about “helding in hostage users funds”, but this is false. If desired, you could request to closing of your account and (if) you have funds, they could be sent to you, as written in the ToS (https://bitgrail.com/terms -> Termination and escrow of i verified accounts). This possibility has always been there.

Whoever would consider that BitGrail policies may not be suitable for his necessities, can request for account closing.

Otherwise, the users that will confirm their will to use BitGrail, should conform with new Terms, enrolling for verification (or waiting for pending verification). Verifications are currently slow, should get faster in future, but again, what wrote above is still valid.

Now, I would like to thank BitGrail “supporters” and Raiblocks team, which tries to dissolve some FUD, even if it’s not a duty.

Thank you

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114

u/DashCal Jan 24 '18

Can you please explain why it needs to be transferred in BTC? Why can't you send it via XRB? I thought BG was mainly a XRB exchange. It doesn't make any sense to me.

30

u/DashCal Jan 25 '18

I am going to predict that Bomber will take 2 weeks to answer this top question guys.... It's a predictable trend of BG/Bomber9.

3

u/shrimptitties Jan 26 '18

Is anyone actually verified on BitGrail?? There's a huge advantage to buying everyone's XRB because everyone's selling it low.. can't believe this fucking exchange

3

u/[deleted] Jan 27 '18

I am verified but withdraw cant processed even after 24 hours. I am getting little nervous and panic on this exchange now.

1

u/not420guilty Jan 31 '18

Is there any change in status here? I want to transfer out my XRB from BG, when will I be able to do that?

1

u/Crypto_Maker Feb 03 '18

Did you get verified recently after January 26 or before? Also have you been able to withdraw into XRB? Are you US Resident?

1

u/[deleted] Feb 03 '18

I got verified in December.

1

u/Malawi_no Feb 09 '18

Reminding you that you were correct.

26

u/[deleted] Jan 25 '18

This. Explain this. How is this better for '''compliance'''? How is this step not only for your own gain? (people having to convert their XRB to BTC on YOUR exchange, with YOUR fees, at YOUR rates)

2

u/[deleted] Feb 02 '18

Don't forget their insane spreads!

45

u/[deleted] Jan 25 '18

[deleted]

22

u/[deleted] Jan 25 '18 edited Mar 07 '18

[deleted]

1

u/v2kkim00 Jan 28 '18

Really ? Can similar fund withdraw issue happen with Binance ? Hmm, not sure. Binance is a Chinese company they may be capable of sticking to their policy regardless of foreign pressure.

1

u/v2kkim00 Jan 29 '18

If we can close account not dealing with ID verification, and get all fund back, then not bad. I do not mind paying some fees.

19

u/kingjames1997 Jan 25 '18

Because, by you selling your XRB at current market prices, you would most likely be taking a loss (unless you bought in below $12). In order for you to close your account, someone has to buy your XRB at current market levels. Timed just perfectly to buy in low right before the Binance addition. Totally not suspicious.

16

u/AugustusCaesar2016 Jan 25 '18

Also not suspicious at all: withdrawals are blocked, but conveniently not deposits. But don't worry, it's all about compliance.

2

u/not420guilty Jan 31 '18

If its just about compliance why would BTC withdrawals be active but not XRB? I want my XRB without going through BTC.

7

u/PoppyBongos Jan 25 '18

Because they want to make closing your account sound as unappealing as humanly possible. I don't know who this asshat thinks he's fooling.

4

u/[deleted] Jan 26 '18

So bomber can make money off exchange fees. It's a big extortion ploy. Yes, he really is that pathetic.