BitKub verification mess

[Jenkins9039]

40 minutes ago, Yumthai said:

Are you saying that you're willing to pay up to 35% personal income tax on all crypto payments/transfers you do?

 

It seems to me that the most reasonable and legal solution (unless of course you declare nothing) is, as @Jenkins9039 mentioned, to keep and cash out crypto abroad (broker and bank accounts outside of Thailand) then remit fiat money tax free the next year(s) into your Thai bank... am I missing something here?

 

Pretty much what i was doing with USDT-> THB. 

But if they want to play funny games, then ok, funds now deal with outside of Thailand.

[Neeranam]

1 hour ago, JeffersLos said:

The 100,000thb I bought of SAND is now showing as 27,893thb.

 

The 100,000thb of ENJ I bought is now showing as 15,975thb in my Bitkub wallet.

Whatever you do, don't sell. Btc is going to increase 58% in the next month and these low cap coins much more. 

 

[Yumthai]

4 hours ago, Jenkins9039 said:

Pretty much what i was doing with USDT-> THB. 

But if they want to play funny games, then ok, funds now deal with outside of Thailand.

Indeed! Why bother taking the risk to make crypto payments or directly cash out into a Thai bank account without declaring it, as legal and tax free options exist abroad?

 

Even if Thai taxman can't or doesn't want to enforce laws now, the issue with blockchain is traceability and transactions history being engraved within the chain. Hence, they could easily investigate people transactions at any time in the future, then retroactively fine them.

[Sigma6]

On 6/26/2023 at 11:47 AM, Neeranam said:

Seems that Thais can verify with chip drop next month. 

Certainly looks like they intend to push foreigners out with this.

 

TBH I havent touched the app, or crypto for ages, but I still have 200k+thb on BitKub.

 

How is the requirement to verify communicated? I may have deleted the email, if it came that way, but it seems I could trade and sell in the app currently

If I do need to verify is it still possible to withdraw?

Has anybody tried the support chat to ask directly what the story is?

 

[Neeranam]

12 hours ago, Sigma6 said:

How is the requirement to verify communicated? I may have deleted the email, if it came that way, but it seems I could trade and sell in the app currently

If I do need to verify is it still possible to withdraw?

Has anybody tried the support chat to ask directly what the story is?

Email and when you log into the website or app it tells you what you need to do. 

 

I had a hassle as they insisted on my Visa for living in Thailand, which I don't have as I became a Thai citizen. They really didn't want to change everything, saying that I am still a foreigner. I persisted and they did change it, however then still assumed I am a foreigner from time to time. 

 

You can still withdraw when verify still needs to be done. 

[richard_smith237]

13 hours ago, Sigma6 said:

Has anybody tried the support chat to ask directly what the story is?

Yes...  there was an automatic response that they were extremely busy and I'd receive an e-mail. 

A couple of days later I received an e-mail asking if my query had been responded to and if not follow up with an e-mail.

I followed up with an e-mail.....   no response yet.

[richard_smith237]

BitKub confirmed...

 

- No changes for Foreigners (the Chip&Dip) is for Thai's only, foreigners will re-verify using the same methods as before. This does not explain why some foreigners are facing re-verification issues. 

 

- Another point - The App (For Apple) is also offline today while they run some sort of update (online via laptop is still available) - pretty annoying if you primarily use your phone or don't have quick access to your personal laptop. 

[Sigma6]

Thanks for the info both @richard_smith237 and @Neeranam

 

 

[richard_smith237]

On 6/28/2023 at 12:12 PM, richard_smith237 said:

- Another point - The App (For Apple) is also offline today while they run some sort of update (online via laptop is still available) - pretty annoying if you primarily use your phone or don't have quick access to your personal laptop. 

BitKub app is back online....  

Delete the old version from your iOS device... download from App store, log in again, go through the two factor authentication etc then set up the usual biometric login (if you want)....  

 

 

 

 

[Neeranam]

I got a phone call from Bitkub yesterday, telling me I failed verification but to go ahead and do what is required to get a QR code, which I then take to 7/11 for them to do something called a dip chip.

For foreigners, it might be doable as an email said - "Since the document uploading method for account verification is unavailable"

[ChipButty]

My wifes account yesterday was ok on her phone but could not login on the laptop, now I see they are insisting you use the 2 step authentication whether you like it or not, 

 

[piewarmer]

Im hoping Bitkub alerts it foreign nationals about this change very soon, the silence is worrying

[Neeranam]

FYI, I just withdrew funds from Bitkub and had to receive an SMS to my phone, then ADD my Thai ID card number. 

 

[Neeranam]

52 minutes ago, Neeranam said:

FYI, I just withdrew funds from Bitkub and had to receive an SMS to my phone, then ADD my Thai ID card number. 

 

However, not successful yet, even after doing the dip chip thing at 7/11. There is som new 'persona system' which made me take photos of ID, selfie looking left and right, etc

[piewarmer]

Yesterday I got a Bitkub email to start doing verification

Hooray, I logged in and saw the same message, no document uploading

I raised a ticket asking what foreigners can do

They replied today that I can dip-chip if I am Thai, no mention of foreigners again

I clicked I am not satisfied with the response

ther next email

Dear Valued Customer,

 

We sincerely apologize for the inconvenience that you have experienced. Our team did not refrain from taking action on the matter. We will have the relevant organization follow up on the case and inform you as soon as the process is completed.

 

Your suggestion/feedback is highly appreciated. We will surely use it to improve our services and hope that you will receive a better experience next time.

 

Should you have any questions or need further assistance, please do not hesitate to contact us anytime. We are here 24/7.

Thank you for your trust and for choosing Bitkub Exchange.

___________________________________________________

So they said a lot of meaningless drivel, sigh

[ukrules]

Are foreigners banned from using it or what?

 

Also what the <deleted> is a 'dip chip' ?

[Neeranam]

On 7/26/2023 at 4:44 PM, ukrules said:

Are foreigners banned from using it or what?

 

Also what the <deleted> is a 'dip chip' ?

https://www.bitkub.com/th/blog/what-is-dip-chip-674e22b5cfe7

[piewarmer]

My accout was suspended today, i'll have to wait for Bikub to work out their workaround.

Seems a bit <removed> of them.

[Neeranam]

On 7/30/2023 at 10:03 AM, piewarmer said:

My accout was suspended today, i'll have to wait for Bikub to work out their workaround.

Seems a bit <removed> of them.

Hardly if this white guy wasn't suspended. 

Does anyone know if they are closed today? Been waiting for over a day for a deposit. 

[Jenkins9039]

On 6/27/2023 at 7:11 PM, Yumthai said:

Indeed! Why bother taking the risk to make crypto payments or directly cash out into a Thai bank account without declaring it, as legal and tax free options exist abroad?

 

Even if Thai taxman can't or doesn't want to enforce laws now, the issue with blockchain is traceability and transactions history being engraved within the chain. Hence, they could easily investigate people transactions at any time in the future, then retroactively fine them.

Only applies to people that didn't establish operational entities overseas and matured the funds for the next tax year as a tax free dividend/income.

[Neeranam]

They are now asking for utility bills. 

They say my Thai ID and housebook are not enough 5555

[ukrules]

4 hours ago, Neeranam said:

They are now asking for utility bills. 

They say my Thai ID and housebook are not enough 5555

Ever get the feeling that they simply don't want to have anything to do with you?

 

It's odd behaviour from a financial company.

[CharlieKo]

On 6/27/2023 at 2:04 PM, Yumthai said:

Are you saying that you're willing to pay up to 35% personal income tax on all crypto payments/transfers you do?

 

Do you have a link? Because from what I read the tax is around 15% for crypto. I suggest you are totally wrong! 

[Neeranam]

1 hour ago, ukrules said:

Ever get the feeling that they simply don't want to have anything to do with you?

 

It's odd behaviour from a financial company.

Yes and no. They say they will stop my 30 million baht a  day withdrawal limit and make it 2 million if I don't send documents within 7 days but then send me new emails saying I am a valued customer etc and to send the docs. 

[FruitPudding]

On 6/27/2023 at 1:59 PM, richard_smith237 said:

This one is about the possibility of BitKub not permitting non-Thai's to continue trading in the platform. 

Truly a blessing in disguise.

 

Take this as a sign from the gods:  grow up and quit swapping footie cards 

[JeffersLos]

6 hours ago, Neeranam said:

They are now asking for utility bills. 

They say my Thai ID and housebook are not enough 5555

It sounds like they are stopping people from withdrawing the money they have stored on BK.

 

ie, they are keeping the customer's money.

[FruitPudding]

7 hours ago, Neeranam said:

They are now asking for utility bills. 

They say my Thai ID and housebook are not enough 5555

My stock broker in Luxembourg was also very specific when updating their KYC record for me. 

 

They wanted utility bills too. It's just to prove you currently reside there. 

 

Your housebook doesn't prove you currently live at that address. You could just be registered there or own the place, but not actually be living there now.

 

[FruitPudding]

2 hours ago, ukrules said:

Ever get the feeling that they simply don't want to have anything to do with you?

 

It's odd behaviour from a financial company.

Ever heard of KYC regulations that financial companies have to adhere to?

 

[ukrules]

Just now, FruitPudding said:

Ever heard of KYC regulations that financial companies have to adhere to?

 

Yes, and I've done it many times, not once was a utility bill required as well as some other superior form of address like a bank statement.

[FruitPudding]

2 minutes ago, ukrules said:

Yes, and I've done it many times, not once was a utility bill required as well as some other superior form of address like a bank statement.

Yeah, my broker wouldn't accept bank statement. 

 

Just utility bill or state issued document