Has anyone tested the sending limits on ETN


#1

Has anyone tried to send more than €150 with only KYC level 1? What happens to the transaction? I am using the website wallet not the smartphone wallet.

Many of the poor un-banked people in the developing world use cell phones and SMS not smart phones. They are not going to be able to use the smart phone app from YOTI.


#2

Statically you may be wrong cos in ghana most people are using smartphones and in Africa generally if not half then half plus one of the continent are using smartphones


#3

https://www.internetworldstats.com/africa.htm
Check here it could help


#4

Few points to note:

  • Smartphone and web are the same wallet…just different interfaces for using it.
  • Its use or hold for the threshold limits. (less then €150 | up to €10,000 | Over €10,000 etc)

#5

Then what happens if a pool owner tries to pay a miner their payout but he/she is not sufficient KYC level?
Do they have a refund system in place to return it if it’s the online wallet? I guess we are going to find out.
If it’s a paper wallet there is nothing they can do to block it.


#6

Funds would hit that persons wallet and they would be required to do Lvl 2/3 before being able to use them.


#7

Even completing level one you can receive any amount of electroneum

But let’s experts answer it


#8

They are working on other means of verification for said people. I think the project will evolve over the years.


#9

Electroneum now is fully centralized by its issuers, but if make this coin more decentralized than the future will be brighter! Nobody likes 100 verifications and stuff like that, dozens of proofs for exchanges, dozens of proofs for wallet, it is not what personally i wanted from etn. More mobile wallets for etn without kind of limits. If it will stay like this, this is actually taking away couple of old guys in crypto to invest. I want to keep huge amounts in paper or cold hardware to hodl, and also i want use them by my own when i want and how mutch i want :wink:
meh, this is only my opinion…