This is an interesting line of thought, which I would love to explore and ask more questions, specifically, why do you think giving name and address details, which will be securely destroyed from our servers is the same as handing over passport, proof of address, selfies etc?

The utility value of a name and address compared to full KYC documents is night and day. For example full KYC documents can sell from 5-20 USD on the darknet and carding forums. Names and addresses maybe for 0.50 USD at the most - obviously there is some value as they are "crypto" Fullz

Surely the fact that in 99% of interactions, we do not ask for full KYC documents in order to purchase BTC, is a attractive proposition? Or are we missing something ?  - serious question.




The reason why we ask for names and addresses are:

1. In order to purchase anything, and I mean anything ( bitcoin or a toothbrush ) using Visa or Mastercard you need the names and addresses of the card holder. This is not our internal policy, nor Stripes, but rather the card schemes - Visa and Mastercard. This is how the card payment systems work - if no name or addresses are recorded it is impossible for the transaction to be settlement through these card schemes. Thus impossible for payments to be made and merchants to receive funds.

2. To combat card fraud  - addresses are checked by the merchant against the address and name linked to the card number ( BIN's )


Its great engaging with the community and please ask more questions/criticisms.