cryptocurrency

[AzzarTheGod]

Originally Posted by Izmael [You must be logged in to view images. Log in or Register.]

I'm not sure how hard it is to do it if you're in the USA. I suppose it's harder than in other countries. I know some exchanges require additional paperwork if you're from the USA and making bank transfers to/from USA accounts isn't easy if at all possible.

Since 9/11 any type of banking transfer is pretty extreme in the USA and requires a lot of extra paperwork for the bank and making sure that you are fully identified via date of birth and Social-security number, your citizen identification number. Anyone who can't fully identify themselves won't be able to receive anything. the overseas bank then has to confirm this information through a request to the US government.

Its a waiting period and most foreign banks dont want to request the US to approve every single customer and report to the US every single transaction, its a hassle. Sometimes the bank won't get a reply from the US government, and they have to request authentication again. Lack of reply or unspecified holds on a customer that are never specified so they cannot tell the US customer what the problem is, are major reasons why Euro banks don't deal with US customers.

The paperwork piles up fast when dealing with a US citizen. The bank ends up feeling like its asking US permission for every single dealing. Its definitely not the best country to live in for bitcoin exchange.