Cryptomus now requires KYC

[DerangedWolf]

I have been using Cryptomus to accept payments from my site and also as a personal wallet to accept payments from clients manually.

I chose it because it allows free cross-chain transfers. Exchanges have that feature as well but then you have to do KYC and deal with insane taxes, especially if you're from India (flat 30% with no deductions).

I checked today, and now Cryptomus requires KYC as well. Previously, they required it for P2P and trading only. I confirmed with my account manager, and now Cryptomus requires KYC for these things as well:

• Receiving funds
• Withdrawing funds
• Creating a merchant

I mean, what's the point of this? We are just using their platform like a wallet basically. So disappointed with this change and I will have to start looking for alternatives.

 

[PetraAnn]

I mean, what's the point of this? We are just using their platform like a wallet basically. So disappointed with this change and I will have to start looking for alternatives.

The effect of crypto becoming more mainstream unfortunately. Governments want to know who's attached to the wallets.

 

[Antonio Holmes]

crypto are getting harder with restrictions

 

[SMMSHIBA]

Hello! Thank you for waiting. Unfortunately, your KYC verification application has been rejected due to internal company regulations. Unfortunately, we cannot disclose the specific reasons for this decision, as it pertains to security service confidentiality. This refusal is final, and re-application for verification is not possible.

Thank you for contacting us. If you have any additional questions, please contact us again.

This is what we got from Cryptomus today. What is this ??
Anyone got the same problem?

 

[purecode]

Sooner or later, all wallets will need KYC. This is how the government wants to regulate crypto.

 

[MR.Spuf]

I have been using Cryptomus to accept payments from my site and also as a personal wallet to accept payments from clients manually.

I chose it because it allows free cross-chain transfers. Exchanges have that feature as well but then you have to do KYC and deal with insane taxes, especially if you're from India (flat 30% with no deductions).

I checked today, and now Cryptomus requires KYC as well. Previously, they required it for P2P and trading only. I confirmed with my account manager, and now Cryptomus requires KYC for these things as well:

• Receiving funds
• Withdrawing funds
• Creating a merchant

I mean, what's the point of this? We are just using their platform like a wallet basically. So disappointed with this change and I will have to start looking for alternatives.

They are accpetimg payments for businesess as well so they got new sets of reglementations maybe.

 

[Venusaur]

It worth it in my experience, good service...KYC is basic nowadays

 

[kamizu]

Bound to happen, sellix has also been closed down which is a bummer. Regulations are being enforced, which in the grand scheme of things isn’t necessarily a bad thing.

 

[Lastchance55]

The effect of crypto becoming more mainstream unfortunately. Governments want to know who's attached to the wallets.

Did you find any alternative?

 

[Rick Ad Master]

Do not forget that any exchange which does not require KYC may have a higher chance at scamming users.

 

[lotsofmoney]

They might have got a notice from government.

 

[Permitri]

Did you find any alternative?

There are not many good alternatives now.

 

[dluffy]

There are not many good alternatives now.

try payid19 its good altenative.

 

[Permitri]

try payid19 its good altenative.

Never heard about them. I will check it out.

 

[Sister Spam]

There are not many good alternatives now.

How difficult is it to accept crypto payments yourself? Very easy.

These "crypto payment gateways" are exactly the opposite of what you should use.

 

[Permitri]

How difficult is it to accept crypto payments yourself? Very easy.

These "crypto payment gateways" are exactly the opposite of what you should use.

I don't understand what you mean. They are the opposite of what we should use, how?

 

[Alertproxies]

Probably got some kind of notice, but they said to do it before march 1st and its 2nd and i still haven't gotten anything

 

[BPName]

Did you find any alternative?

litepay
nowpayments
plisio.net
this are good altenative

 

[Sister Spam]

I don't understand what you mean. They are the opposite of what we should use, how?

Did you know you can receive crypto without a 3rd party in between?

You can just use your own wallet/addresses.

Ask ChatGPT to make the code or pay $200 for a coder.

Or use available scripts like https://wordpress.org/plugins/cryptocurrency-payment-gateway/

 

[koxokot890]

It worth it in my experience, good service...KYC is basic nowadays