The LTB Network Forum

MELOTIC - now requires ID verification for ALL trades

Back to General

Comments

William

Offline
Posts: 308

Anyone else noticed that Melotic now requires ID verification for ALL trades? They state that this is for compliance issues. It is positioning itself to be a mainstream, play-by-the-rules, regulated exchange. That's a novelty in crypto. I suspect the trading volume will plummet. Will you provide your ID or withdrawal your coins?

Posted on October 15, 2014 at 11:12 AM
Last Edited: October 15, 2014 at 11:18 AM

1 like

• Alchemix

  

  Offline
  Posts: 175
  Location: Vegas

  Withdrawal without question. Looks like this will certainly increase trade volume on Polo no doubt. Lets be honest, Polo is far from the best exchange, but Melotic is horrible

  Posted on October 15, 2014 at 11:43 AM
  Permalink
  2 likes
• lovebitcoins

  

  Offline
  Posts: 103

  @william Anyone else noticed that Melotic now requires ID verification for ALL trades? They state that this is for compliance issues. It is positioning itself to be a mainstream, play-by-the-rules, regulated exchange. That's a novelty in crypto. I suspect the trading volume will plummet. Will you provide your ID or withdrawal your coins?

  I bet we will see a lot of withdraws today if people catch this soon enough before an ID is required to withdraw even.

  Posted on October 15, 2014 at 11:55 AM
  Permalink
  0 likes
• CoinAdd1ct

  

  Offline
  Posts: 130

  I for one certainly will not be sharing my ID.

  Posted on October 15, 2014 at 12:03 PM
  Last Edited: October 15, 2014 at 12:05 PM
  Permalink
  0 likes
• lovebitcoins

  

  Offline
  Posts: 103

  @coinadd1ct I for one certainly will not be sharing my ID.

  What alternatives exist for LTBc exchanges?

  Posted on October 15, 2014 at 12:16 PM
  Permalink
  0 likes
• William

  

  Offline
  Posts: 308

  @lovebitcoins

  @coinadd1ct I for one certainly will not be sharing my ID.

  What alternatives exist for LTBc exchanges?

  None, other than polo and the DEX

  Posted on October 15, 2014 at 12:16 PM
  Permalink
  0 likes
• CoinAdd1ct

  

  Offline
  Posts: 130

  @lovebitcoins

  @coinadd1ct I for one certainly will not be sharing my ID.

  What alternatives exist for LTBc exchanges?

  Poloniex - I imagine they will be seeing a lot more volume on ltbc now. They are a much better exchange anyway, so it's for the best.

  https://www.poloniex.com/exchange/btc_ltbc

  Posted on October 15, 2014 at 12:18 PM
  Permalink
  1 like
• William

  

  Offline
  Posts: 308

  @coinadd1ct

  @lovebitcoins

  @coinadd1ct I for one certainly will not be sharing my ID.

  What alternatives exist for LTBc exchanges?

  Poloniex - I imagine they will be seeing a lot more volume on ltbc now. They are a much better exchange anyway, so it's for the best.

  https://www.poloniex.com/exchange/btc_ltbc

  Maybe Polo and the other exchanges will follow Melotic's lead. If Melotic is doing this for compliance reasons, then Polo might too. After all, it is apparently based in the United States as well.

  Posted on October 15, 2014 at 12:37 PM
  Permalink
  0 likes
• asdolino

  

  Offline
  Posts: 690

  I have withdrawn all what I had on Melotic (few satoshis), let's trade on Poloniex...

  Posted on October 15, 2014 at 1:37 PM
  Permalink
  2 likes
• d415a

  

  Offline
  Posts: 153

  Well, no one will use melotic right now. I will keep my coins on counterwallet for a while.

  Posted on October 15, 2014 at 2:48 PM
  Permalink
  0 likes
• plus8bit

  

  Offline
  Posts: 106

  Poloniex is very convenient for the exchange,

  and who still want to provide id to identify it helps

  Posted on October 15, 2014 at 2:50 PM
  Last Edited: October 15, 2014 at 2:52 PM
  Permalink
  0 likes

Post Reply