Post
Topic
Board Trading Discussion
Re: does ordering bitcoin debit cards expose us to the ID fraud?
by
xypos
on 02/07/2017, 07:30:34 UTC
this is general, not specific against any website. I included it alos in my signature... to remind people to avoid to give too much information about themselves.

bitcoin debit cards websites are companies registered in London by Lithuanians who demand from you your phone, ID and utility bill, that's enough for them to make offshore companies on your name without your knowledge and they can get a bank account and make financial crimes on your name, or they can simply sell IDs. don't give to anyone too much info.
why they need more than your ID when your local bank demands only ID?

what do you thin, does ordering bitcoin debit cards expose us to the ID fraud and financial criminality?
does the law in Britain really demands utility bill or just "know your customers" or ID and that's all.
anyone visited a bank and opened an account in the last period? did they ask for utility bill?
When I made a bank account in my country, my ID was all I need.

It is a real possibility if you are dealing with more shady companies, such as advcash which is a bitcoin accepting virtual and physical debit card provider. It is based in belize where laws regarding cybercrime is quite ambigious.

However, if you work with one of the regulated ones such as wirex, bitwala etc. etc. then the risk is significantly lessened. I'm pretty sure anyways that a lot of them use third party, trustworthy ID authenticators and don't do anything themselves.

Though if you're uncomfortable still to share your ID with anyone online, it's completely fine. I understand, it's not paranoia, privacy is a right. You can always get anonymous preloaded debit cards with IBAN for a small fee, or just use any of the services, cryptopay, wirex, bitwala without verifying although your lifetime and daily limits are going to be super low.