Conno

I haven't tried registering yet, probs early next year but from what AdvancedBooking has been saying I imagine the National Identification Card would be your Passport. As you say you are not Thai so why would you have one of those. illogical. I also don't believe your Oz driving license would be any good either as that is probably registered to an Oz address right? The info they need is to ID you in Thailand not your home country. So, if I were you I'd just try uploading your Passport data/picture page along with all your current Visa stamp pages. Good chance those instructions are just losing something in translation. If you notice they also ask in the first section for non-immigrant visa or Smart Visa [whatever one of those is?] According to posts above a Thai Elite visa [Privilege] is also acceptable even though it isn't listed as an option. If you get rejected get back to them and explain your circumstances. Other non-Thai's who are resident in Thailand have been accepted so obviously it is possible.

Ben Stark - You are still not getting it. It is 9x as the original poster stated. 10x not entirely accurate but under some circumstances it can be [as explained below] but if that's what you want to focus on then fair enough. However after saying that they can do as they like. As Mike Maloney states some use a reserve of ZERO not even 10% so now that looks like it's getting close to infinite currency creation to my mind. $100 deposit can and does create $1000 new credit because the cycle repeats and repeats. That $90 is the initial amount but then the cycle loops over and over again. Here it is in video format for you. Skip to the 06:45 timestamp. PS. Your investopedia link calls currency 'MONEY' it isn't. Currencies are credit, not money. Only Gold and Silver are money.....and possibly Bitcoin these days too some may argue. The digital Gold.

It's called fractional reserve banking my friend. He's 100% correct. Biggest scam on the planet and not 1 in 10,000 are aware of it.

I'd say you got it 100% right with one addition. Fiat is a bigger scam than crypto ever was and has been since fractional reserve currencies were dreamed up. But not 1 in 10,000 probably understand that my friend. Plus we have the new version to look forward to - CBDCs - If they are accepted globally then it's game over. Imagine getting free money then only being able to spend it in a 4km range of your cell lol. Later they'll say 'You've used your carbon allowance for the month no more travelling for you sunny Jim'. Or how about taxing you directly out of your wallet. Just think of the entertainment factor of watching your balance drop on autopilot 55555. Glad I'm an old git.

CARF is coming - Crypto Asset Reporting Framework. Be aware and plan accordingly. https://www.gov.uk/government/news/uk-leads-international-crackdown-on-crypto-tax-evaders https://www.gov.uk/government/publications/international-joint-statement-on-the-crypto-asset-reporting-framework/collective-engagement-to-implement-the-crypto-asset-reporting-framework

Thx for the update. Sounds like a breath of fresh air compared to Bitkub. Yea Asiannow had a DDOS attack on their server provider apparently but we are back now. I'm going to wait until the New Year [Upbit] as I will have some new funds in my bank account by then that will show a healthier balance if they request bank statements for lvl 3-4. Plus I'll apply for Gulf Binance too as soon as it is launched to the general public. It will be such a relief not having to deal with Bitkubs draconian business practices. Thx for all the info you have shared. Good luck in 2024 I think it's going to be a good year.

In which case it is pretty much futile trying to stay anonymous then. Given that, this may be another option for those looking to avoid Bitkub account verification headaches. Binance, in the form of Gulf Binance will be available to the majority in early 2024. https://cointelegraph.com/news/binance-launch-thai-exchange-joint-venture-with-local-energy-giant

Advancebooking. Can I ask again please. No Thai Baht transactions below Lvl 3? Do you know what is required for Lvl 3 verification?

One further point did you see this deposit/withdrawal table from UpBits website. https://th.upbit.com/service_center/guide You can deposit and withdraw crypto at Lvl2 but it is saying you can't deposit or withdraw THB on Lvl2? The table seems to be saying you can't do any deposit or withdrawals of THB transactions on any level other than Lvl 3? What is required for Lvl 3 do you know?

This is really good to hear about UpBit. Thx for taking the time to help all of us frustrated Bitkub users. My account is still active with them at the moment but it's probably only a matter of time before they do the same to me. Please keep us updated on how things go for you over the next few weeks and share your experiences with the depositing/withdrawing procedures over at UpBit etc. I'll get around to registering with them sometime soon.

Thx YaDongimproved. Got my girlfriend to translate this for me and it appears they are apologizing for not having the foreigner based KYC system in place. Plus it seems that this particular non-Thai's account currently has no restrictions applied to it if my GF has interpreted it accurately. Which appears to contradict JohnyBoy777's experience from the other thread on this same subject. You appear to have the right connections to keep us up to date. Please continue to share anything new that develops related to this story. It's important especially when crypto appears to be entering its 4th Bull run cycle. Big thanks.

Go over and look at the recent post on this issue on the other thread linked below. As I said earlier I believe what they are doing to you is illegal and against the constitution. I asked my GF to translate the case related correspondence and it appears Bitkub are apologizing for their failures. I still don't think we are getting the full story here but they do appear to be admitting they do not have a legal basis for restricting your account purely on the fact that they still don't have a non-Thai KYC system operational. It appears that the account of the non-Thai in the reproduced document shown, doesn't have any restrictions on his account. Could have lost something in translation from my GFs interpretation but good to know that at least the issues is now under the spot light. https://aseannow.com/topic/1311267-bitkub-is-asking-for-kyc-again-after-logging-in-kyc-is-disabled-for-foreigners/?do=findComment&comment=18492119

I think what JBChiangRai is saying is that any tokens you had on the exchange after your KYC has expired remain accessible, but only for selling for fiat and then transferring out to your nominated bank. Or withdrawing the same tokens back into your own self custody wallet. No more deposits of crypto or fiat post KYC expiry. It's absolutely mind blowing and unacceptable treatment of a customer who has held an account with them for 5 years. While they haven't made any official announcements that they no longer desire non-Thai accounts, it sure does appear as if this is what is unfolding behind the scenes. All the while hiding behind these announcements that the non-Thai KYC updating system is temporarily unavailable. They are either planning on making this an official policy in the near future or if not, it is just another example of their ineptitude. Either way not a good picture to behold.

JBChiangRai - Yes I can see that too in the short term, however outrageous such a rule change would be against honest gentlemen. Plus lets not forget also against the very ethos of crypto i.e. financial sovereignty. I have only ever bought crypto with baht. Baht that was remitted into the country from overseas with zero baht earned in the country. I'm on a tourist visa so not allowed to work so that's a given. If such a restriction were ever to be implemented someone such as myself would be basically screwed. How would a long term expat Hodler ever be able utilise the crypto they have diligently accumulated over the years if this change ever came about? It would be stranded crypto in other words. I understand we are only speculating at this point in time, but you have to be asleep to not see where this is heading. However I do feel there is hope. I say in the short term because I firmly believe in the medium to long term they are trying to hold back a tsunami here. ukrules Matrix meme once again. Basically the fractional reserve Matrix currency system is broken beyond repair. Virtually ALL governments are in $trillions of debt and as usual they either start wars or go after the peasants when attempting to bail themselves out of their self created mess. Therefore if you look back over history this same thing happens over and over again when the end of Empire moment approaches. We can all feel the noose tightening. Even when playing by the rules, it increasingly feels like we are viewed as some sort of criminal when just trying to safeguard our own financial survival. You don't need a crystal ball to see all of this is the foundations being formed for CBDCs, what I like to call Slave Coins. I believe ultimately they will fail, humanity does tend to sleep walk into one crisis after another, but eventually people see things for what they really are and then just start saying...... No, Enough. Never give up. Never surrender.

My advice would be to learn how to withdraw and self custody with a Ledger/Trezor and transfer back onto the platform whenever you wish to sell. It isn't that difficult to do and you are taking an unnecessary risk storing your coins on the exchange. I will endeavor to keep my account active for when or if the day ever arrives I decide to cash out. However like yourself I will not be using them again to buy. I will continue to look for an alternative approved route/exchange that accepts Baht transfers and will share if I discover one. Likewise, if anyone else finds an alternative I would appreciate if you could also share it on here. As mentioned previously, with luck Gulf Binance will launch in the not too distant future and that has to be a better option than Bitkub, or at least I don't believe they can be worse. Id also be interested in learning more details about this.

WOW $12 entry. I thought I was doing well around $4000 lol. I was a bit late with the penny dropping moment. Completely agree with the $12 to $1000 mindset. Exactly the same thing applies today. If or when it hits $1m per coin people will look back and say why didn't I see this coming when it was around $30k. I also feel people are going to feel good about themselves if they manage to accumulate 100,000 Sats never mind a whole coin. 8+ billion people on the planet, 21 million coins. The first and only truly deflationary financial commodity EVER in the history of civilization. People still just don't get it and by the time they do it will have left the majority behind. Thailand will have to eventually backtrack on the ruling that it can't be used as payment for goods and services or get left behind. Yea I think the first stages of the next Bull cycle has arrived. Watch the fireworks when the USA SEC concedes and approves that long list of Spot BTC ETF applications. It seems the odds are high for that to be announced in the next couple of months.

Do you get the impression crypto worries the powers that shouldn't be lol. No coiners may think I'm a nut job but I can see BTC hitting what some would call unrealistic high prices. Just ask Michael Saylor what he thinks the price may be around the 2028 time frame ;-) Micro Strategy hold over 150,000 BTC I believe these days and he is still buying. I can wait but I will need an approved local exchange to cash out with when we get there. Unless moving to Dubai for a few years becomes a viable alternative. I'm joking but if they continue to discriminate non Thai crypto holders like they appear to be doing right now, it might be the only solution left if and when we moon. Lets see how things unfold.

ukrules - My Bitkub account is still active currently as I only completed the re-verification palaver just before it all changed. Keep us all updated on how things go for you if you don't mind. Thailand being Thailand I just know the problem is eventually going to hit me too.

Thx ukrules. Not really what I am looking for but thx for sharing all the same. Personally I'm a Hodler, buy with fiat [Baht] and hold for the long term, waiting for the day prices potentially skyrocket [I have my price targets and can wait] Obviously Thailand have outlawed the use of crypto in Kingdom to pay for goods and services directly. So unless that changes one of these days it is going to be essential to have an approved Thai exchange for converting back into Baht so as to be able cash out, spend and enjoy it. This is what I find very worrisome when looking at the way Bitkub and Satang Pro have been treating long term expats in the country recently. The Gov are always banging on about wanting to attract foreign investment but then give the impression they don't actually mean it by making it so difficult to comply. It's a foolish approach and will just drive the profits offshore. I mean if we can't retain our Thai crypto exchange accounts what are we supposed to do? Just like these proposed new rules they are threatening us with and the taxing of foreign income remitted into the country. Sometimes Thai logic blows my brains. Suppose will just have to hope this Gulf Binance operation launches in the near future and it doesn't also get bogged down with the same mind boggling contradictions. PS Advancebooking - Looks as if we are going to be a bit stuck for the time being. The PayPal Wise solution doesn't look very safe or viable to me, especially if one day we are talking large amounts.

I spoke with Binance help desk asking them about Thai baht deposit/withdrawals etc not so long ago. They said currently it isn't an available currency option, so have you actually used Binance for Baht transactions recently or are you using them with GBP or another currency? When you say English address I'm assuming you mean your Thai address in English right. You know these things change like the wind, due to the state of flux that crypto regulation is currently in. Can you confirm if Thai Baht is an available currency with Kraken and Bitstamp? Edit : Sorry just reread your post above, Thai address on your Kasikorn bank statement. Word blindness.

I've been with BITKUB since the excellent BX exchange closed down several years ago. At first they didn't appear to be that bad, but as the months and years passed they have deteriorated to such an extent that they are completely incompetent and a joke of an exchange today. Their customer service staff seem to be clueless to what other departments are doing. The last KYC re-verification I did, with all the same documents as when I originally opened the account, were rejected several times. Eventually I managed to jump through all of the hoops, including receiving those infuriating banal scripted replies 'We hope to serve you better in the future. Thank you for being the best part of Bitkub'. I eventually received the your verification has been approved, we have awarded you 100 baht email..........but wait for it...... 48 hours later I get another email telling me my verification and documents have been rejected. Once again on the phone combined with return emails asking what on earth are they doing? I then get another email 24 hours later saying 'Please ignore the last email, Thank you for being the best part of Bitkub.' Absolutely infuriating outfit and I'm also looking for a workable alternative. https://www.trustpilot.com/review/bitkub.com This tells you all you need to know. I posted this on the Satang Pro thread in reply to jonnyboy777 but will post here again. I spoke to Binance's help desk a few days ago after I learned about their new Gulf Binance subsidiary receiving Thailand SEC approval in May 2023. They informed me that Gulf Binance should become live sometime in Q4 2023. It can't come fast enough for this CryptoKnight. https://www.kitco.com/news/2023-05-26/Binance-secures-operating-license-in-Thailand-its-first-in-Southeast-Asia.html Fingers crossed.

Just found another thread related to Bitkub......Yip it seems they are sending out update your KYC emails to non-Thais without a non-Thai verification system in place. Absolutely useless company.

This is on their website from just last week. Your account should not expire while a 'temporary suspension' is active. Unless as I posted above the left hand is clueless as to what the right hand is doing. For non-Thai nationals The verification system is temporarily suspended. However, we will announce the update immediately once the service is back in service. Sorry for the inconvenience.

Sorry maybe I'm not understanding something. So have they informed you that your KYC is due for renewal, or have they simply informed you that your account will soon expire? Or are you just assuming it will expire soon because it has been a while since your last KYC update? There is a world of difference here. On-going account KYC re-verification is a routine requirement, so how can they ask you to re-verify your account if as you say they still haven't implemented and updated the new KYC verification system for foreigners yet? The only messages I have ever received from them are emails advising me that it is time to once again re-verify my account by providing them with the required documents all over again. What I am trying to say here is, how can they inform you that your KYC will soon expire and requires updating without them having a system in place for you to renew it? This doesn't make sense? If this is what you are saying it means they are just basically sort of indirectly informing you they are closing your account and you are powerless to do anything about it? Can you clarify please as I want to be forearmed if this is also heading in my direction. My experience with them has left me with the impression that the left hand doesn't know what the right hand is doing half of the time. This might be the cause of what you are trying to explain?

Firstly are you not going to attempt to renew your KYC? I'd understand if you didn't want to as I dread it also, not a good experience at all. You could use the P2P service on Binance but I have never used it so not a recommendation. I personally don't know of any other sure fire way other than the approved in country exchanges . After saying that I have never sold a single Satoshi, I only buy and accumulate as I'm waiting for the $1m per coin price. Yea yea yea I'm either deluded or an insightful genius . I agree this is an increasingly worrisome situation to be in for long term expats. They want our tax money but yet they do seem to be making it increasingly difficult for us to retain an active exchange account in Kingdom due to the nightmare hoops we have to jump through. Check out Bitkub's TrustPilot reviews here. https://www.trustpilot.com/review/bitkub.com This pretty much sums up the situation for non Thais I would say, clearly we are not the only ones experiencing this. With a bit of luck this new Gulf Binance exchange will open soon in the next couple of months. We can live in hope that they offer a better service than is currently available. Wouldn't be a too difficult a task to achieve that right.