Electroneum Wallet - KYC levels and the withdraw restrictions

#1

As per the Electroneum “|Identity Verification and Account Limits” page, it says that at Account Level 3, you can withdraw “€10,000 per 3 month period

I’d not noticed that before… and I confess that is slightly worrying… since at the current ETN price, I have in the region of €25K in my wallet at the moment… and if I wanted to withdraw my ETN now, It would take me over half a year!.. and given that we’re all hoping the price is going “to the moon” - if it does, it is likely to take me years to withdraw my stash… Not that I particularly want to right now, but limiting it to €10K every 3 months seems particularly restrictive… unless I’m misunderstanding something fundamental…

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#2

I hit a wall trying to withdraw more than 50k etn and had to do it in lots of 49999

not sure if this is the exchange or the blockchain restriction though

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#3

After level 3 it’s unlimited, not max 10k per 3 months

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#4

Read the FAQs please. It clearly explains the levels…as well as other questions you may have.

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#5

Thanks for the link - had missed looking there… and the FAQ answers it perfectly… though I would argue that the profile web page where it tells you what your level is could be worded better to reflect that the value quoted is the upper limit of the level below… definitely not intuitive!

For others benefit I have copied the relevant FAQ below:

_“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.”_

Regards,

Matthew Fenn

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#6

Was it Cryptopia? They’ve always limited to 49,999.

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#7

yes. As of now that won’t be a problem again haha - never using them again after this debacle

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