Question about moving all ETN out of my wallet


#1

Let’s say I want to move all of my ETN out the Electroneum wallet over to an exchange to sell. Can I do that?

Some people are saying I can’t move anything out until I am Level 3 KYC confirmed. Even then they are saying I am limited to moving only certain amounts within a set period of time.

I want to be able to send out as much ETN as I want, whenever I want to, over to an exchange to sell. Can I still do that?


#2

Right now, there is no limit but that is soon to change. After that, you could use the CLI if you really want to avoid Level 3 KYC.


#3

Thanks for the reply.

I think I will pursue the CLI route and move all of my ETN over to a paper wallet. I was currently in the middle of going through the KYC process but was unable to complete level 2 because nothing happens when I click submit.That was a HUGE turn off for me because I am willingly providing sensitive information but the intake process just isn’t working as expected.

And to your point about impending limitations, I can’t waste anymore time trying to become fully KYC only to cripple my ability to sell as much ETN as I want to when the time is right.


#4

i don’t see it as a big problem, i mean ETN isn’t looking far from a bank, could be in their vision, not sure, so just take it as speculation, ETN is holding our coins if we want, we use the ETN app to make transactions, we need to complete KYC so they know who we are, in the future if we need to move a lot of ETN worth a lot of money i cant see it being any different from a bank, increasing our limit to send. Im keeping my coins in the wallet.


#5

Yeah sadly you need level 3 KYC in order to transfer big amounts if you want to sell whenever you want its best to either keep it on an exchange (not recommended of course) or in a paper wallet then you could send them at any time or sell them instantly if already on exchange :wink: I agree with @a46d780ca9c84529fd78 also ETN starts to look a lot like a bank that will hold your coins for you if you want but its not needed if you don’t want to use it :sunglasses:


#6

i dunno man i cant seem to change my name lol. do i need to do kyc or something?


#7

Appreciate the responses here…

Yeah, KYC is fine if folks want to use ETN for eCommerce. Now, until there’s a comparable number of vendors out there that accept ETN like Paypal, for example, then I would definitely be more inclined to actually use ETN in that manner. Personally, I really like the duality KYC affords Electroneum and the fact that it’s currently exclusive to ETN makes it that much better.

However, I’m beyond convinced that there’s a silent majority of people who, at this stage of fruition, are primarily just holding to turn a profit. I’m no exception to that school of thought.

That said I’ve managed to successfully move all my ETN over to a paper wallet.

I literally spent the entire day waiting for my wallet to sync so I could verify all of the funds made it over okay.