So I have been going through my steps for KYC when suddenly a thought occurred to me. I believe a great many people have a large amount of ETN (into the hundreds of thousands if not more). Level 3 KYC states you can unload 10,000 euros in a three month period. once ETN hits a buck or two and I am convinced it will or much higher and people want to cash out (example) it would take someone for ever to unload their cash. If I want to buy a new house for example with my earnings, how do I do that?. Right now 100 000 ETN is 150 dollars Canadian (yes I am Canadian) will there ever be an option to unload all my coins at some point at the same time to buy that house or go vacationing etc etc etc. What am I missing here?
Level 3 is more than 10,000 Euros.
Level 2 is up to 10,00 Euros
From the KYC FAQs …
What levels of KYC do I need to do?
Everyone must complete level 1 of KYC. This enables you to use/hold up to 150€ of ETN within a 3 month period.
Level 2 is required if you wish to use/hold over 150€ in a 3 month period (but up to a maximum of 10,000€).
Level 3 is for those using/holding above 10,000€ (unlimited €) worth of ETN within a 3 month period.
So once you meet the threshold of 10,000 euro… you are required to do Level 3… which entitles you to hold/use unlimited ETN in your account.
Lvl 3 allows you to buy your house using the app if that ever becomes a reality
Just tell them you’ll be paying for this house in ETN!!! Problem solved!!!
Level 3 is 10000 Euros and above
I like this solution the best! The paying for the house in ETN
Thanks everyone I was missing the up to 10000 euros in level 2 that makes more sense
I hope to see this day of having my own house esp if it’s from ETN long long waiting profit with all that ups and downs, it would be finally paid off.