BlockTrades users must now create an account to trade with us
In response to upcoming regulatory changes around the world, BlockTrades is now requiring users to create an account before they are allowed to trade with us. This means that you won’t see the “Get Deposit Address” button until you login to your account. One benefit of this change is that you will be guaranteed that all your transactions will be linked to your account, so you can’t lose a record of any of your transactions.
New account trading limits
New accounts will initially have a daily trading limit of $1750 USD, but you can increase this limit by submitting identification information via the Authorization section on your profile page. After being authorized, you will initially have a daily limit of $20,000 USD (which can be increased per an approved support request for a larger amount). An authorization request will generally be approved or rejected within 48 hours of the request.
What will happen to legacy deposit addresses from unregistered users?
For the next three months, we will still process transactions to existing deposit addresses, to avoid issues for anyone who has setup a periodic automatic transfer to such an address. Note, however, that transactions on such addresses will be limited to a $200 daily limit. If a larger amount is sent, the user will need to create an account and contact us to link the deposit address to their account in order for the transaction to be processed.
What if I’m a partner/affiliate of BlockTrades that directly uses the BlockTrades API?
For the next three months, we will still process transactions generated via our API without requiring a user login, but the amounts sent to such deposit address will be limited to $200 daily. After that period, your site will need to integrate support for our upcoming API function that allows a user to login to his BlockTrades account via OAUTH2.
just now I try login into my created blocktrade Account but it not going through, what could be the problem or is the site on maintenance? please respond to me on this....png)
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... that is what I get when I try to sign_in and if I click on Accept it return me to this...
Hi, we have done a major upgrade to the web site, so it's probably related to the upgrade. Does this happen every time you login, or is it just occasionally? If you can duplicate it, can you show me what action you do that takes you to the consent page? Are you starting from https://blocktrade.us or some other site? Also, before you test, please press F5 as we've already made one fix to the site (but I don't think it will affect this problem you found).
Thanks,
Its has been rectified ...
Also, can you check the clock time is accurate on the computer you are using?
i am facing same issue . after refresh also.
I got through half of the verification process but it is even more extreme than most exchanges, and only allowing $1,750 per day without it? Any chance that number goes up?
Anything is possible and we haven't engaged with regulators yet to know if these limits are for sure too extreme. We're being conservative based on our readings of the rules until we have definitive answers. We'll know more in a bit.
Ok thanks. Are we talking weeks, months?
weeks
Blockchain: Restoring freedom to humanitywOOOAH HOLD UP THERE IT'S TIMEEE TO GET REGULATED
yah
Fortunately making an account is very easy and painless process. I have had an account for a while, and never had any problems. @blocktrades has superior customer service and an easy to use interface on their website. Makes it easy for me to trust that my money is passing through safe and secure hands.
I've loved blocktrades for its no login requirement for as long as I can remember. I shared it to others on that very premise. I know that you were basically forced to do this, so nothing we can do other than create an account. Very easy to do so and I've had one for quite some time already. Still the easiest exchange around.
What do we need to sign up
Basic signup just requires an email account.
HEy it is not just E-mail... :( ... if you want take out more then 1750 $ then you must give all your ID info from them.
Sounds good guys. Keep innovating and progressing and improving the platform as we head towards early adoption. A gateway too and from steem is going to be the key for bringing on new users and enabling the early adopters to profit from the hard work in their steem business.
Thanks for all that you do and your ongoing support for the community.
Posted using Partiko iOS
I understand the regulatory reason for this change, but this will probably mean that our BuildTeam integration of the Blocktrades api will have to migrate to another solution (or maybe use a transparent pool of acounts? Is that legal? Allowed?). Users that want to one click power up on our platform don't want to register yet another account and this might be a dealbreaker here.
I think the two solutions for us here would be to either circumvent these limitations (which would be a pretty bad solution) or having to ditch blocktrades :/ both are not what we would want to do.
Hi,
is there any chance that you could provide access to your new API in advance so that we can update our own integration?
Regards
Steem.Ninja
We'll publish it as soon as it is designed. Our current API should still work fine temporarily, as long as trades don't exceed the new limits, but getting our API updated is one of highest priorities at the moment.
HEy @blocktrades ... this is not good :(( that means.... a government which in any case abuses power and laws, can start here this users now to tax on each transaction, and it is not good.
And also limit of $1750 USD Are you joke ???? I feel like I'm being jailed here in prison... and I not joke.
First ... this is my steem and SBD... and I must have right to decide for myself how much I want to take out, the fact that one authority can tell how much a user can take out is very bad. I thought here were people who dared to fight back the system, but no... it looks no.
And sorry I say this.
that's what I say
This is grave news.
People who saw benefits of having an account with BlockTrades, already have one, therefore there is no point in discussing those.
There are however people who used your services because it was possible without leaving definite trace and with pretty much no limits.
You can't leak what you don't know. Now with mandatory account all the problems show up:
It is not that I don't want to give you my identity. You know who I am, so it wouldn't affect me, but other customers are not in the same situation.
On top of above mentioned problems new daily limit is atrocious, especially considering the limit so far was the size of your hot wallets. I haven't used them in a while (because for the last year I was using BlockTrades for most of my trades) so maybe something changed but back in the day Binance had no deposit nor trading limit and 2BTC daily withdrawal limit for unverified accounts. If that still holds the new $1750 USD barrier looks bleak in comparison.
Damn, it was such a good exchange...
The answers to your questions are mostly publicly available on fincen.gov web site (with the exception of our own security procedures), but I'll summarize relevant answers as it might take you some time to read there.
Regarding the limits, I believe they are necessary to meet FINCEN reporting requirements outlined above if the business is a crypto exchange. I suppose it's quite possible that many crytpo exchanges outside the US are ignoring these requirements, since their principals probably reside in other countries. But generally, when you file a Currency Transaction Report, you are expected to provide basic identity information, not just an email. And 2 BTC is more than 10K USD now.
As to remaining question about the security of customer information, we are maintaining it at a highly privileged level (same as we have always maintained customer information). The data is stored on the same servers where we keep our crypto wallets and it is only accessed by 3 highly trusted and trained personnel here.
bring unregulated decentralized platforms......regulated and centralized authority deciding the rules...
anti-cryptocurrency philosophy in my opinion