Tradesatoshi Scam Users Via KYC?

Diego Chua Jr.
Nov 6 · 4 min read

KYC or Know Your Customer : is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship.

KYC is already practice and applied on Cryptocurrency Exchanges.

Today this article is about “If Tradesatoshi really scam users by applying KYC”
Some users says that Tradesatoshi Scam their funds via KYC verification, so I check it hows the process of this exchange runs.

I uploaded two document they required which is:
1. Scanned ID (A scan of your photo ID)
2. Verification Photo (A selfie of you holding the Photo ID)

After a day, one of their Verification Team notify me on my account profile page that can be located at this link:
https://tradesatoshi.com/User

They stated that my ID submitted is kind of blur, so it’s hard for them to review my details on the ID and suggest my to re upload my Id in a better resolution.

That First submitted attempt, I just take a photo of my ID using my mobile phone that’s why it’s kind of a blur, so this time I go and scan it directly so that it will turnout to be clear as possible at my second attempt.

I send a Support Ticket and notify their support that I have already re uploaded my documents with a high definition images.

It didn’t even take an hour for the verification team notify me again at my Account Profile Page that my account was successfully verified in KYC or Lv 2.

I can now be able to Withdraw Daily withdrawl limit $50,000 equivalent on Tradesatoshi.

It was fast and very strict, as you see my first attempt did not succeed due to some document issue, and I know that strict security means secured area, that’s why I am also confident that Tradesatoshi is a very secure when it comes to users accounts as they also provide 2FA on 3 areas such as Login/Transfer/Withdrawal.

Back on the Process Verification Team Verifies if the users ID submitted was perfectly match on the registered details of the account which uploaded this documents.
First Name:
Last Name:
Birth Date:
Address:

I think Address can be considerable as some people always move places, but those 3 areas must be correct and same as on the account registered details.

Once account details is not match they will reject users documents instantly to secure users account and the account will remain frozen 🔒 until the users cooperate again and upload the correct documents correspond to it’s registered details.

So I figure out that rejected users that cannot be able provide correct identification match to their account registration as they did not registered their real name on the account, So they back fires and throw negative article that says Tradesatoshi Scam them via KYC verification.

I read carefully Tradesatoshi “Terms and Condition” and I see that TS already warn users to use their own personal detail under their account and it stated under the Registration and Verification section.

Tradesatoshi “Terms and Condition” Link:https://tradesatoshi.com/Home/Terms

I also see other users share their experience and thoughts regarding this issue on Tradesatoshi KYC and other issue involving Tradesatoshi.
https://www.reddit.com/r/Tradesatoshi/comments/dsbgpj/tradesatoshi_is_scam/

https://medium.com/@StarLordCrypto1/tradesatoshi-cryptocurrency-exchange-2cf046b77abe

https://forum.tradesatoshi.com/index.php/topic,157.0.html

📎 Like them I also think that there is an community or people attacking Tradesatoshi by making fake news to destroy the image of this exchange.

Tradesatoshi is not SCAM!

D. Chua

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