I was about to open an account with them, but I am hesitant after reading the accusations. I hope you guys can help me clarify my doubts .... for better or worse.
If I understood correctly ..... they allow you to put BTC in your account, but require ID verification to move/use your BTC?
Would'n it be easier for Spectrocoin to require your verification before they allowe you to use your account?
They way it is been done now, leaves too much margin in Spectrocoin's hands to retain and block your BTC on their side.
Case example:
1) You open an account in Spectrocoin and fund it with 2.0 BTC.
2) After a few days you need some BTC, let's say .... to buy some hash power.
3) They ask for ID verification.
4) You send ID verification.
5) They reject ID verification.
6) You resend ID verification.
The rejection and request for new ID verification can go on forever.
Conclusion: Your account gets blocked and you lost your 2.0 BTC.
Could someone please comment about my analysis or tell me about other alternatives to Spectrocoin?
Hi,
The issue is that a large number of our services do not require verification such as using of bitcoin wallet, loading card in small amounts etc, that's why we do not require verification from all our clients initially as verification is required for risky payment options such as deposits by credit or debit cards, bank wire transfers etc.
You should have no worries to use our services, as all authors of these accusations have disappeared.