Why do I have to verify myself?

Many people think that bitcoin is completely anonymous, and they don’t agree with the verification requirements on our page. Despite popular belief, bitcoin is not anonymous! Bitcoin transactions are public, anyone with the given bitcoin address or transaction number can see them. The monetary transactions themselves, that is to say the different amounts moving between any given bitcoin address, are all public, but you can’t see who is moving money between bitcoin addresses. However, if a bitcoin address is linked to a person’s identity, then all transactions related to that address are completely trackable. That’s why we call bitcoin a ‘pseudonym.’

Our verification requirements are not there to make it harder for you to use our service, but rather to prevent, in as much as possible, - in accordance with legal regulations and the authorities - any form of money laundering or financing of terrorists. By doing this, we ensure that we have done everything we can to protect our customers. In fact, if your account has been illegally hacked, then our AML and KYC requirements make it impossible, or at least incredibly difficult, to steal or launder anyone’s money using our service.