Post
Topic
Board Beginners & Help
Re: Exchange won't release bitcoins unless I verify identity. Advice appreciated.
by
Rengga Jati
on 20/07/2021, 23:20:52 UTC
Hey mods, if I'm posting at the wrong place, please move this to the right section. Thanks.

Anyway, I deposited about $1000 worth of bitcoins on Paxful when ID verification wasn't required, but now Paxful won't let me withdraw unless I go through ID verification. Because I don't want to hand over my ID, my bitcoins are stuck.
Most centralized exchanges will require KYC/AML.
This also happens in all regulated crypto exchanges in my country, the withdrawal can be only executed if we have done our KYC requirements and approved. Without KYC approval, we cannot get our funds. That is why before transferring money or assets to exchange, it is better to check the T&C, especially about the KYC requirements.

And in Paxful, it is stated required for that KYC:
https://paxful.com/support/en-us/sections/360003848973-Account-Verification
https://paxful.com/support/en-us/articles/360009324259-How-to-Do-KYC-On-Paxful

Or, if you have tried to do KYC and still not approved, try to contact their CS support and explain your case in details with the proves.