Where is My 10 ETN? Yoti Has Them! lol


#1

Anyone else miss the good old days when every other question was: “Where is my 10 Etn?”

Now every other question is: “Yoti Can’t Verify My Address Help!” lol :wink:

Not to make lite of the issues people are having getting verified by Yoti for KYC but some of these question are priceless!

  1. I don’t have any address so I how do they verify where I live?

  2. I don’t have an ID, Don’t have a passport, don’t have tax id, don’t have phone number, don’t have an email, don’t have a computer, don’t have a printer and I live in country that it is not recognized by any other country help?

  3. I have never had to provide any proof of ID or address or name or phone number or email or country I live ever for anything! Why do I have to do that now with Electroneum?

  4. I don’t have a name, I don’t have an Address, I don’t have email, I don’t have a picture, I don’t have a camera, I don’t have smart phone and I don’t have a Gender but where is my 10etn I mined?

Ok, this is meant to be taken as more of a joke with a touch of truth in it. The bottom line is if you have trouble verifying who you are with even the most basic level of questions then you probably need to focus on getting things in order first in your life. If you hold any amount of ETN say over 1000 etn you may have many many thousands of euro’s/dollar’s worth of coins in the future and you will have to be verified at level 3. In the months to come it is so very important that you get your documents and information together if not you will own all these coins that will be worth lots of money and not be able to use/spend them. :wink:


#2

Really, its no joking matter though. How about if you have a drivers license but its not accepting it, even though its from a western world country?

Enough people are having trouble with the app for valid reasons to suggest that perhaps it sucks. Don’t get me wrong, its a good idea but translated into crap tech.


#3

I am sure in time they will correct the issues with certain ID’s not being accepted. Remember this is required by EU law so there will be many people who can’t come up required information to hold more than 50 euro worth of ETN. Etn will be able to get 99% of the world into the coin and the 50 euros and below level but many people will never be able to get over that 50 euro level not because of ETN but due to EU law. So people need to have a realistic view that this is what will be when you are going 100% legal route!


#4

One final thought is that is not ETN law but EU law! In order to get over 3333 euro level 3 you need the following: Photo ID, Email, Phone Number, Verifiable Address, Tax Number, Employer Information, Recent payslip (or recent accounts if self employed), Letter from employer indicating salary, Recent bank statement. Most people will never ever be able to qualify to hold 3333 euro worth of ETN because they can’t provide most of that information. This is the price we have to pay for going 100% legal regulated route. So if you can’t play by rules set forth by the EU required by law for everyone, then it will be time to keep your 50 euro or less of ETN or sell and move on. I personally think it is just a matter of time before all crypto is forced to go this route and this is what we need to go main stream!


#5

I understand the need for KYC. I worked in the Finance Industry for several years and a biannual refresher course is one of the requirements for maintaining certification.

Im apprehensive because I’ve never witnessed an organization outsource its KYC program ever. its considered to be high risk on many levels. A simple example in this instance is that investors know ETN. They don’t know YOTI.


#6

I think using a 3rd party is very smart, why would ETN team want to get bogged down with having to process all it own KYC. They need to focus on working on the instant payment system, block chain and getting new deals with partners for our coin. I hold well over 35 million coins and am completely fine with them using Yoti as it was extremely smooth and easy to use to get verified to a level 3.


#7

Yoti are in user acquisition mode the same as us, and have a cost per KYC that enables mass adoption.

We’ll make it all work, some in house, some with Yoti, and some with mobile operators on the ground.

:grin:


Oooooops disheartening
KYC and marketing {concern}
KYC/Yoti Issue & Concern Thread
#8

Speak for yourself…

ETN’s target market dont have many of the things you’ve listed, to you it may sound crazy, but for these people, they dont have an official registered address and the process is not as smooth for some as it is for others.

What you think may sound as being “lazy” is close to impossible for allot of the unbanked.

Sure, Level 1 is enough for most people and this is easy enough, but to get level 2 as an unbanked consumer, will NOT be a piece of cake.

Lets see how it goes… I guess thats what this forum is for, helping noobies get verified.


#9

Majority of people will never have to or will get to level 2 so it will be just fine for 100’s of million’s or billion’s of people to use ETN as intended.


#10

Are you the real Richard Ells? Legend.


#11

Yes that would be Sir Richard Ells! :wink: Make sure to ask him Where is my 10 etn? When Moon? When Lambo? I am sure he can’t get enough of those Questions! :wink:


#12

That sounds real good, YOTI isnt going to work perfectly for everybody, and to have different options available as you say, through cell opporators or through ETN, there will be other options available to get varified. Exciting stuff, Great job boss man! :slight_smile:


#13


#14

An official announcement regarding this will really be helpful for all those confused users out there.
Someone has an expired passport some have none at all , for some the app does nothing and for other the app is country restricted. Different countries have different systems.
I tried helping a lot in the community but this time I am stuck myself.


#15

This brings up a great point.

If you are purely a speculative investor, you should consider now whether it is more valuable to you to have your ETN on an exchange, or in your ETN wallet. On an exchange, you will be able to convert much larger numbers into another currency than you will if you leave your ETN in your wallet and do not supply Electroneum Team with the required information.

Summary:
Level 1 only lets you spend up to 50 Euros per month, and requires basic personal info
Level 2 only lets you spend up to 3333 Euros per month, and requires photo ID as well as Yoti profile, and address
Level 3 lets you spend a larger amount

Personally I leave a portion on an exchange, just for the sake of liquidity.


KYC AML Electroneum Future ? HELP!
#16

That is the good a point, the only concern is leaving ETN coins on any exchange as that does have a degree of risk. I personally leave no ETN coins on any exchange and store them in paper wallet / cli wallets and some on the online wallet. There are many ways to still hold etn without KYC and if you can not provide ID then an coins on an exchange would be the next easiest option for people.


#17

Cool, thanks for clarifying that.