So i wanted to payout some of my BAT but i cant create a account on Geminin or Uphold because both dont provide Service in Germany. Is there any other way we can withdraw our tokens?
Sorry to say, but its a NO. You can only do that if you connect to a custodial wallet. As of now, due to rules & regulations it seems Uphold and Gemini have stopped creation of new accounts in Germany.
Brave is working to get stuff sorted but They say Germany is in a weird situation right now, but they’ll talk to Uphold/Gemini about it.
Also, just so you know, Brave is in talks with a new provider for verification. Nothing is known about which firm it is or when they’ll be added… Brave says it will make users tremendously happy. Not sure if that would change the situation for Germans
I don’t get it. Kraken, Binance, Coinbase, FTX…all big exchanges are available in Germany. Why there should it be a problem with regulations? And why is Brave not making an arangement with one of these? Or even better, with a dex.
It could be because you get BATs for doing nothing if you actually see, you just need to keep using brave like any other browser you would normally. You keep earning doing so. (Not sure, but this is my guess).
It’s not easy as you think. There needs to be agreements.
Also the brave BATs works like this →
Let’s first clarify one little thing that might be confusing to people. When we see Brave Rewards, what we are earning isn’t actually BAT. Instead we’re getting what is called vBAT, where the “v” stands for virtual. It is nothing but customer points with no particular cash value or anything. The only place you can use it is with Brave, to tip content creators (and in the future for other features like special privileges you can get with BAT).
When we have our “payout” each month, Users with
Verified Wallets such as Uphold or Gemini will have their vBAT converted to BAT by those places. Once this conversion occurs, your BAT will be stored with them in their wallet. So basically, Gemini and Uphold are letting you exchange your customer rewards points for real currency. Without them taking part in this step, then you’d not be able to convert BAT from Brave Rewards into money.
For those who don’t have a
Verified Wallet, your BAT is stored as data between your device and Brave’s servers.
So the exchanges whom you think should be added, need to agree to converting vBAT to BAT and a lot of other things and vice versa with Brave.
-.- … I thought Brave was a crypto browser based on an ERC 20 token. Why was such a cumbersome way of offsetting chosen?
Blame the governments
No, there’s not.
To quote people from Brave:
The process in having a business relationship with exchanges is more difficult than Users may realize. There are a lot of fees and other arrangements that need to be set up to happen.
That said, we are in talks with multiple and hoping to reach new deals to expand offerings. In fact, we can’t give details, but we have a major deal we’re hoping to reach soon that would make Users very happy. We are also always reaching out and trying to do business with other companies, but it takes time.
Because this isn’t just buying/swapping/mining tokens. This is an American company that is working internationally and has to abide by policies and regulations by many different governments. In the case of Germany, the two existing partners that Brave has do not want to allow new accounts for Germany. Brave had been allowing people with existing accounts to link Rewards to it, but it was rolled back along with half the world in recent months as they are trying to get some issues resolved.
As to why Uphold and Gemini aren’t offering new accounts to Germany, I really don’t know. You’d have to try to get the answers from them, if they’d be willing to explain.
As to making arrangements, it’s like I showed in the quote a bit prior to this, it takes both people being interested. So those places must also desire to contract with each other. At this point, that just hasn’t happened.
I’m not even quite sure anymore, to be blunt. Some of these topics get people jumping down the rabbit hole. If I had to try to answer, all I could do is speculate as a person with limited knowledge of how it all works. I do know part of why Brave hasn’t been paying directly into places like Brave Wallet is because they would have to get licenses for it and then have to worry about compliance with each country themselves. The other aspect is each government has different requirements and limitations regarding what types of crypto and crypto exchanges are permitted.
The other part of it then also would be that this is operating as a business. So Brave has to also be compliant with US laws and make sure they are doing proper reporting for the IRS. Add in things like the Bank Secrecy Act which requires record keeping and imposes what we now know as KYC/AML, it opens up another range of issues. If going to DEX which doesn’t do any of that, it can open the door for lawsuits or criminal charges, especially if it was used for terrorism or money laundering.
Believe it or not, governments are already looking to regulate DEX. You might want to read at https://cointelegraph.com/news/identity-is-the-antidote-for-dexs-regulation-problem and https://www.wsgr.com/en/insights/sec-proposes-changes-to-the-definition-of-exchange-under-the-securities-exchange-act.html
You also have the EU’s MiCA that will be regulating and making changes. https://cointelegraph.com/news/report-europe-s-new-crypto-regulations-pose-existential-questions-for-defi
It’s a giant headache, especially if you’re an international business that’s moving around millions of dollars. That’s money that government’s want their hands on, so do you really think they’ll leave it be while it sits in “unregulated” and decentralized locations?
I am Brave User since the first day. Menawhile I have more than 700 euros in BAT on my Uphold account, which I can no longer access. What a mess! They should at least unlock crypto withdrawals again! That is like stealing my money! I really feel cheated by Uphold and Brave!
UPDATE: I just did the verification process again and I was able to withdraw all my funds without problems.
That shouldn’t be true (and I see isn’t true based on your update). Uphold still allows existing Users to use Uphold freely. The only limitation from Uphold is that new accounts can no longer be created.
As to linking Brave to Uphold, that was stopped by Brave. So anything that was not sent over to Uphold prior to the limitation will remain in your Brave browser unless/until Brave allows Germany to be added once again.
Just for clarity sake, you mean you verified info with Uphold again, right? You shouldn’t be able to link Brave to Uphold to my knowledge. Hence why I’m wanting to make sure we all understand what it is you’re saying.
What a joke, I have an Uphold account linked to my mobile and it works without problem. Just got a new device and wanted to link my existing Uphold account to it, but suddenly the Region is unsupported. This renders the whole idea of this “Crypto Browser” useless! So what should I and many others do? Continue to see ads but not able to pay out the earned tokens? I might aswell use Firefox then. You better sort this issue out asap because there is always some problems with Brave, last time it was the Device limit, now the most important feature is gone for millions of people. Find a solution with a different provider then or allow us to link existing accounts to Brave! Or simply allow withdrawals by circumventing a provider (how it should be done in the first place) using the built-in wallet function. But I guess then the Brave organisation wouldnt get commission for referring its users to some third-party website. How about you start thinking about your users first…?
That is because when you connect to Uphold/Gemini. It says connected for 90/120 days or till you manually disconnect it. The region unsuported only pops up when you try to verify/re-veify
You still get paid. The only difference is you aren’t able to get them out of the Brave browser (kinda stuck there). Those BATs can be used to tip creators and hoping in the near future can be used in the BAT store
There’s also some websites providing gift cards for BAT. You do need to see if that one is legit tho, cause many seem to be a hoax
Notices have gone out on that for several months now. I understand you may not use Brave Community, their social media accounts, or their Help articles and might have missed it. But it has been plastered all over…Some of those you can see below. (not counting Twitter, Reddit, etc)
Not really. It still serves its initial purpose which was that Users are supposed to tip Creators. I know many people have been “greedy” and just used Brave for “free money” and never cared to actually support anyone, but that’s a whole separate discussion. Also, it’s not like support is permanently gone. This is a temporary situation and you still earn BAT. Eventually they’ll allow whichever region you’re in to be able to connect to a custodial account and to withdraw the BAT.
Be patient and save up BAT. Or if you don’t want to participate in Rewards, you can turn off Brave Ads and use the browser without it, where you’ll get all the excellent features and performance.
Not accurate. First off, Brave Rewards is opt in and you can always turn it off. Second thing is they ARE paying. You just can’t withdraw it and convert to cash.
Sure, and go use Google. I know Firefox is a good competitor but Brave is still better in terms of privacy and performance. This is especially the case as you begin to look into the future when Manifest V3 and all come into play.
Unfortunately there are regulations and policies which prevent that. You’re right that Brave could get licensed, invest a lot of money, and then KYC/AML all Users but that would be kind of heavy just to use a browser. It also would begin to have way too much information accumulated in one place, which would really be a giant target for hackers. It’s not like Brave isn’t considering it and not working on it for a goal in the future, but there’s a lot of things that needs to happen first. In the meanwhile, having things separated as they are is helping to keep us and them safe from issues and to make sure all laws & regulations are followed.
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