Buying XRP from Thailand now BX is closed?

[Batty]

Hi there.  I would like to buy some XRP, any idea where to go?  I just signed up to coins.co.th but they only trade in BTC.  I need to buy using my Thai bank account as I dont have an account in my native country (U.K).  I do have a current account in the US and could probably use one of the main exchanges for XRP using my US debit card, but I have no current address over there and Im guessing it will be hard getting the account verified without required I.D.

 

Any ideas?  Obviously I have a Thai account, Thai address with all the ID's needed so idealy need a Thai based exchange?

[twig]

Looks like bitkub has XRP/THB market:
https://www.bitkub.com/market/XRP

[Conno]

Batty, second twigs recommendation.....only downside is all the AML/KYC but par for the course currently. 

Edited October 28, 2019 by Conno

[matador007]

15 hours ago, twig said:

Looks like bitkub has XRP/THB market:
https://www.bitkub.com/market/XRP

Hey could you PM me your BK referral code ?  I may sign up, so might as well make someone else some $.

Thanks.  I guess these guys are picking up where BX left off.

[sillyfool]

coinfield.com

 

i know it has service in thailand just not sure if you can use a thai account or baht. 

 

 

[Batty]

17 hours ago, twig said:

Looks like bitkub has XRP/THB market:
https://www.bitkub.com/market/XRP

Appreciate it Twig, thanks.  Just taking a gander now.

[Batty]

11 hours ago, Conno said:

Batty, second twigs recommendation.....only downside is all the AML/KYC but par for the course currently. 

Thanks mate.  Possibly a silly question - but what do you mean by 'AML/KYC'?

 

I feel like I am asking something painfully obvious with that question but cant for the life of me think what it might be ????

[matador007]

30 minutes ago, Batty said:

Thanks mate.  Possibly a silly question - but what do you mean by 'AML/KYC'?

 

I feel like I am asking something painfully obvious with that question but cant for the life of me think what it might be ????

Hi Batty, you definitely want to know these as every site is doing it.

AML = Anti-Money Laundering

KYC = Know Your Client (Selfies, Passport, etc..)

 

Also if in range of BKK we might be able to do some IRL (In Real Life) exchanges for XRP/BTC/LTC, etc..

Take care.

[Conno]

Batty - Hey no worries bro we all have to start somewhere, luckily you are still miles ahead of most if just starting out now. Good luck.

Check out my AML/KYC rant that I posted a few weeks ago.

Matador007 - I'd give you my ref code for Bitkub but a bit cheeky as it was Twig that you directed your request towards first. Honor between gentlemen and all that ????

 

Hey Twig pull ya finger out the man wants to get started he he he.

Edited October 29, 2019 by Conno

[Batty]

21 hours ago, matador007 said:

Hi Batty, you definitely want to know these as every site is doing it.

AML = Anti-Money Laundering

KYC = Know Your Client (Selfies, Passport, etc..)

 

Also if in range of BKK we might be able to do some IRL (In Real Life) exchanges for XRP/BTC/LTC, etc..

Take care.

Right, gotcha that makes sense now.  Thanks.  Unfortunatley I live in north east, but thanks.

[Batty]

I have began the varification process with Bitkub but have just got to the part asking for 3 months bank statments.  I understand they want to be cautious about money laundering, but my personal bank statments are absolutley nothing to do with them, its irked me a bit that they have asked for them.  So now have to drive into town, line up at a bank, pay for the statments, probably be told they need to be posted to me and then scan/upload reems of A4.  The main exchanges dont ask for this - as far as I am aware - why are bitkub so typicaly Thai in going over the top like this?

 

 

 

[Batty]

2 hours ago, Batty said:

I have began the varification process with Bitkub but have just got to the part asking for 3 months bank statments.  I understand they want to be cautious about money laundering, but my personal bank statments are absolutley nothing to do with them, its irked me a bit that they have asked for them.  So now have to drive into town, line up at a bank, pay for the statments, probably be told they need to be posted to me and then scan/upload reems of A4.  The main exchanges dont ask for this - as far as I am aware - why are bitkub so typicaly Thai in going over the top like this?

 

 

 

Sorry, slight rant on my part there.  I have been at immigration all morning and brain is fried from red tape ????

[Conno]

Batty - Yea the 3 months bank statement requirement is a real invasion of your privacy I agree. You're not the only one feeling very uncomfortable about that. Unfortunately it isn't easy to on-ramp fiat to crypto without involving these AML/KYC exchanges. It is possible, i.e. doing a deal with strangers in a coffee shop or using a cash to crypto ATM [believe there's one or two in BK] But what a pain in the rear and not what you would call convenient. So they have us over a barrel at the moment.

 

The fact that we are also expats living in Thailand doesn't help in that I found it very difficult, if not impossible to open anything in my home country, so I gave up. Bitkub are even stricter in the KYC department than BX ever were. I was never asked for a 3 months bank statement from BX during my time with them. 

 

My experience with the Bitkub verification process went like this. Lvl 1 was easy and completed within 24 hours. Lvl 2 as you say involved uploading a 3 months bank statement showing a final balance greater than 100K baht. This was also completed for me in just about 24 hours. I immediately submitted the same bank statement again to apply for the Lvl 3 status as the only difference I could see from Lvl 2 was that the final balance needed to be not less than 200k baht this time. My final balance was already way above that on Lvl 2 so I thought why not, they know everything now anyway. That has been over a week with no confirmation or rejection received?  When logging in my status settings say "Lvl 3 verification submitted awaiting verification?". I'll leave it another week or so and see if it changes before I get in touch to ask what's the hold up. 

Edited October 30, 2019 by Conno

[Batty]

6 hours ago, Conno said:

Batty - Yea the 3 months bank statement requirement is a real invasion of your privacy I agree. You're not the only one feeling very uncomfortable about that. Unfortunately it isn't easy to on-ramp fiat to crypto without involving these AML/KYC exchanges. It is possible, i.e. doing a deal with strangers in a coffee shop or using a cash to crypto ATM [believe there's one or two in BK] But what a pain in the rear and not what you would call convenient. So they have us over a barrel at the moment.

 

The fact that we are also expats living in Thailand doesn't help in that I found it very difficult, if not impossible to open anything in my home country, so I gave up. Bitkub are even stricter in the KYC department than BX ever were. I was never asked for a 3 months bank statement from BX during my time with them. 

 

My experience with the Bitkub verification process went like this. Lvl 1 was easy and completed within 24 hours. Lvl 2 as you say involved uploading a 3 months bank statement showing a final balance greater than 100K baht. This was also completed for me in just about 24 hours. I immediately submitted the same bank statement again to apply for the Lvl 3 status as the only difference I could see from Lvl 2 was that the final balance needed to be not less than 200k baht this time. My final balance was already way above that on Lvl 2 so I thought why not, they know everything now anyway. That has been over a week with no confirmation or rejection received?  When logging in my status settings say "Lvl 3 verification submitted awaiting verification?". I'll leave it another week or so and see if it changes before I get in touch to ask what's the hold up. 

It is indeed way over the top.  I cant grasp what information they can glean from looking at your bank statments, can you?  Crypto is supposed to be free, under the radar, buy and sell without big brother snooping.  I dont like having to submit identification - but can just about understand it, to a degree (even though i dont like it).  But bank statments <deleted>?  Thats SO personal!  And who decides, when viewing your statments, if you are a pottential money luanderer anyway?  Lets say I had a million baht going in and out of my account every day - would that be deemed as dodgy in some way?  And then would you have to go to great effort in showing further proof that the money is legitimate?

 

It seems quite arbitrary to me and I hate to say it, but typical Thai logic.  You can almost imagine them looking at a ferang statment with a high turnover of cash in and out and immediatley ariving at the conclusion that this is 'ferang mafia'.  

 

If I can rant just a little more, so what if I WAS laundering money lol?  I mean I am not, but why would they even care anyway?

 

Rant over!

 

Do any of the main exchanges accept U.S debit card as payment, together with a Thai address that you know of?  I am guessing not, but no harm in asking.  

[sillyfool]

19 minutes ago, Batty said:

Crypto is supposed to be free, under the radar, buy and sell without big brother snooping. 

not xrp.

 

if you dig into xrp you will notice some very familiar names and organizations on board.

 

xrp - on demand liquidity for cross border payments made by institutions etc. 

 

you want hush hush try monero. 

[Conno]

Batty. Do any of the main exchanges accept U.S debit card as payment, together with a Thai address that you know of?  I am guessing not, but no harm in asking. I very much doubt it, AML/KYC has pretty much stitched that up for you. I've had no end of problems linking home country accounts to Thai addresses. Almost impossible to tick all the required boxes.

 

IMO AML/KYC, it's not so much about money laundering from the classical reasons given i.e. drug dealing, terrorist activity etc, that's the propaganda the elite/politicians always drag out to legitimize the real reason.....tax evasion. You are more likely to suffer a heart attack or be in a plane crash or even slip on a bar of soap in the shower and crack your skull open than be a victim of any of the aforementioned reasons for such privacy destroying regulations. We are all very aware and it is common sense to understand that personal privacy is an essential part of being a free human being, financial freedom especially. You don't have to be involved in any nefarious activity to still desire your privacy and unless you lived in Nazi Germany, Soviet Russia or a few other regimes that have popped up here and there over the years, in general we have mostly retained our privacy, until now. As a side note are you familiar with what's going on in China and their social credit score system, <deleted> scary. I've read stories of the authorities even being able to control your mobile phones ringtone if you are classed as a troublesome citizen. Basically they override your chosen ringtone with a wailing police siren sound followed by a shaming message asking bystanders to be aware and help the person correct their ways ???? 

 

The problem today is the advancement of technology and the digital age. Crypto has TPTB scared to death from a tax evasion perspective and they are just cottoning on. Lose control of the income from the tax farm and you lose your power over the tax cows. I worked in the heart of the Middle East for over 26 years and legally was never required to pay tax. I lived and walked around towns right out of the Lawrence of Arabia movie where I knew for certain ISIS sympathizers were active behind the scenes, but nothing ever happened to me. [Maybe I was lucky?] My point being there's not much chance of you being the victim of a terrorist act sitting in some town in the USA or UK or Pattaya or Samui or BK. No, to me it is all about tax evasion where in the eyes of the authorities everyone has the potential to be categorised as a criminal. 

 

sillyfool - Yea I agree XRP is most certainly in bed with the same people as the above problem. I'm hoping the devs put a nice big helping of Monero style code into BTC one day. You know when BTCs market cap is so large it rivals or beats the mkt cap of Gold.......then it will be a case of too late suckers lol.

[how241]

Good post, Conno ....As a USA citizen,  I can agree with a lot of what you've posted. Now, it has become a negative to have a USA passport as Thai banks really don't want you  and most crypto exchanges are also making it hard to register. The lawmakers use the terrorist and money laundering as a way to try to track and tax the hell out of everyone. The biggest banks are the major money laundering people.  Good luck to us all. 

[Batty]

On 10/31/2019 at 10:10 AM, sillyfool said:

not xrp.

 

if you dig into xrp you will notice some very familiar names and organizations on board.

 

xrp - on demand liquidity for cross border payments made by institutions etc. 

 

you want hush hush try monero. 

 

Yes I have been dabbling in XRP for a couple of years on and off.  I think it might take off in a year or two but for now, its worth an additional punt with the SWELL conf in Singapore coming up.  They usualy use this conf to roll out partnership news.  If they unleash major news such as, I dont know, Moneygram are due to roll out in full, the price will go up considerably. Its unlikely, but there is a chance something like that will happen, however slim.  Its worth a punt, because something like that is a possibility.  

 

By the way Im not looking for anything hush hush.... I just dont like the idea of handing over bank statments etc.  Its the notion of a third party deciding if you may or may not use there exchange to buy/sell crypto that irks me.  

[Conno]

Yea Batty, what you are describing is what Andreas Antonopoulos calls the Golden Cage. You have to ask for permission to imprison yourself into their Golden Cage. They view your admission as a privileged not a right. Conform and surrender your privacy is a requirement for entry, don't fancy doing that? Live in a tent on some waste ground then. The day might come when Hush Hush is the only option left. 

Edited November 3, 2019 by Conno

[Conno]

Here's one more perfect example of why privacy is paramount to fundamental human rights. This example is related to personal freedoms rather than financial freedom specifically, but the example is interchangeable.

 

In North Korea come election time apparently you do have the choice to vote for whichever political candidate you wish to vote for. All you need to do is take your voting form and a pen over to the voting table and tick the box of your choice. Problem is there's no curtain around you when doing so and on the opposite side of the table is a loyal government official. Hush hush isn't about hiding something criminal....it's about retaining your basic human right and freedom of choice without interference. 

Edited November 3, 2019 by Conno

[ed strong]

Hopefully the kyc headache actually did you a favour and stopped you investing in ripple....

 

 

[rwill]

I asked them if US citizens can use their service and got this reply:

 

We regret to announce that, in accordance with US SEC regulations, non-registered tokens are temporarily disabled for our US clients. Unfortunately, we do not have the function to restrict an account on trading any specific cryptocurrency. We will announce it via our website and social media channels once we enabled the services again.

 

Being a newbie I don't know what registered and non-registered tokens are.

Edited May 3, 2020 by rwill