Can Brave Payout Directly to Coinbase?

I am struggling with the excessive amount of new CDD requirements for the custodial wallets such as Uphold. Does anyone know if the Brave rewards can be paid out directly to your Coinbase account since they also trade BAT? Unless Gemini isn’t requiring an excessive amount of CDD past the DL and linked bank account information.

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Next question: will Brave rewards go to the Brave wallet if you are not connected to Gemini or Uphold, and does that crypto wallet allow you to send to your Coinbase account?

@kenaustin3rd

At this time it is not possible to get paid directly to Coinbase. There are changes that are potentially coming in the future with Brave creating its own independent wallet. However most of what we know of as a brave wallet is an extension of Metamask And we have only been able to have a custodial wallet belonging to either Uphold or Gemini, with Gemini being a fairly recent addition.

If you want to move it over to Coinbase you would have to put it into a custodial wallet belonging to either uphold a Gemini but then you would be able to put that wallet address into your Coinbase account and be able to access it there. There is a decent article detailing all the steps required at https://www.dollarsince.com/transfer-brave-bat-to-coinbase/

———

Your other question in regards to whether it goes into your wallet, I guess the simple answer is yes it will go there even if not attached to Uphold or Gemini. However, based on the old wallet it would only sit in your browser until you connected to a verified wallet that it could be transferred to. There was no way to withdraw or spend the BAT beyond tipping creators until it was verified.

All of that said, Brave recently launched its own independent wallet. I know very little about it and I’m unsure if you could directly linked that to queen bees but I do believe that it’s still would end up being a transfer similar to how you would have had a custodial wallet on Uphold or Gemini now you would have the custodial wallet with Brave. Unfortunately I can’t find too many articles are bits of information on the new wallet. But the good starting point to where you can kind of start digging into some of the information might be at:

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Oh, and https://brave.com/wallet/

In terms of where they talk about it and have some sort of FAQ. I personally did not dive deep in the reading everything but from my quick skimming it doesn’t look like they talk about anything regarding Coinbase now. But I know they talk as far as the networks that they’re on and whatever. I’m ignorant when it comes to crypto, so I don’t wanna say too much. If you have a better understanding maybe you’ll be able to know what’s capable based on the link provided. At least wanted to respond and give you some sort of guidance until maybe someone with more knowledge pops in to give you better answers

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I just set up the crypto wallet attached to the browser so I am assuming that is the new Brave Wallet…guess we will see on payout day if I will get rewards, still have not gotten December, but I am in the process of closing Uphold down, they want wayyyyy too much personal info…like 3 pay stubs for starters LOL, it is none of their business where I work and how much I earn in my opinion. I quit reading the list of required docs after that, they can track someone else.

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Oh wow. I don’t remember having to provide anything like that when I joined Uphold. Yet I wasn’t working and was homeless at the time either. Brave was a godsend to me on getting a little extra money for food and all. Combining that with apps like Wendy’s for free food, it was amazing.

I’m actually on disability now with a very limited income. That $2-6 earned each month feels a lot more petty now compared to what it used to, but I’ve still stay broke enough that I value all the money I can get my hands on :slightly_smiling_face:

I’ll tag @steeven and @Mattches to see if they can provide more information on how the new wallet works compared to the old AND if it can directly link to Coinbase and all.

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I have been verified for a year and receiving BAT payouts the whole time until Jan from December earnings. Now suddenly Uphold wants all of this additional personal info just to receive BAT. It is kind of ridiculous, way more than a legit bank would ask for. SO I am closing that account. I am just looking for another way to obtain my BAT. Gemini responded that they require similar data so I am requesting a list before I consider them and it is more than a picture ID, SSN, and linked bank account number then I am passing on them too.

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@kenaustin3rd I’m guessing part of the reason for that is because the government has been stepping in and trying to regulate Cryptocurrency. They are trying to follow any profits and want to tax people on it. If you look at places like Gemini they are actually FDIC insured and forced to follow certain regulations and reporting (here in the United States anyway).

When asking you for all this information I’m guessing that’s because they are legally mandated otherwise they will face a lot of fines or even legal consequences. I’m not sure if you ever looked into some of the government requirements on cryptocurrency now,but if you haven’t, check out the article below. You might find it a little interesting

edit

I’ve been getting lazy and using a lot of speech to text in order to write things instead of trying to swipe on my phone. I just realized that it twisted some of what I said so I just edited to correct everything.

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I am making an inquiry with Gemini now…but here is the deal, a bank will never ask you for pay stubs unless you are attempting to apply for a loan…which is what Uphold just sent my way just to conduct some new customer due diligence even though I’ve been verified with the usual documentation nearly a year ago. Their CDD goes way beyond anything a normal bank would ask for in my opinion and you can’t really hide behind regulation or fraud because let’s be real, what could you really do with a monthly transaction of $2 - $4 in BATT tokens that would constitute a red flag?

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As for the question about Rewards going into your Brave wallet — this is not an option at this time. In order to withdraw/deposit BAT, it needs to first be set to a valid and verified custodial wallet such as Uphold or Gemini.

Note that we do plan on having additional options for custodial providers in the future.

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If I chose not to have one of the two custodial wallets that are an option now what happens to the BAT I earn

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I believe the BAT will stay in your browser, able to claim each payout when it arrives, but NOT able to withdraw, or send to another address or wallet until verified. Kind of concerned about the Uphold one asking for that information. I have been with them for over two years, and have never had to provide paystubs, or anything beyond the documents they NEED to verify who I am. I too, would not use Uphold if they requested stuff like that.

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I’m starting to wonder if it is part of their fraud investigation too, and I wonder if it was triggered by Brave flagging your account…not really sure but I do think it is an absurd ask…I think I had a whole whopping $60 in that account literally from just Brave rewards from the last year, and I may have funded the account with $5 or $10 can’t remember. So it is extremely irritating to be prompted for that. And Uphold is trying to be stern and enforce that ask…but as soon as they transfer my money to my bank account I’m closing that account, don’t really care where the rewards go if there is not an alternative.

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If anyone else has been prompted for this and has not checked into it yet here is what they are requesting at Uphold just to receive your $4 a month in Brave rewards…

Uphold

Sign in

  1. Uphold Help Center

Proof of funds - why we may need it and what you should provide

At Uphold we need to keep our community safe, which is why at some point we may need you to take a few minutes to verify your source of wealth and source of funds.

Below we list what docs you’ll need to provide to help us do this. If we require this information, you’ll be notified in the app to upload relevant files via Sendsafely .

There are two parts to the process:

  1. Source of wealth

Choose the relevant category and upload one of the required document sets:

  • Salary

    • 3 most recent payslips, or
    • 3 most recent bank statements, or
    • Bonus notification from employer, or
    • Annual Tax Return
  • Profits from owned business

    • 12 months bank statements, or
    • Most recent audited accounts, or
    • Latest Tax filing, or
    • Letter from Accountant
  • Loan

    • Loan agreement letter/contract
  • Inheritance

    • Copy of will or estate documentation including value and beneficiaries, or
    • Letter from a solicitor
  • Other

    • Lottery win - confirmation from awarding entity, or
    • Divorce Settlement - letter from Solicitor or Court, or
    • Sale of asset - invoice/bank statement evidencing deposit, or
    • House sale - conveyancing paperwork/ completion statement, or
    • Gift - written evidence of receipt, or
    • Pension statement
  1. Source of funds

Choose your funding source and upload the required doc(s):

  • Bank accounts
    • Bank statement showing your name, address and account details
  • Crypto wallets
    • Here is what we need for wallets on major Exchanges
  • Debit cards:
    • A copy of your most recent bank statements

Please note that we are required to collect this information for regulatory and compliance purposes. If this information is not provided, we may not be able to offer you services, and may suspend or restrict your account

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To be completely honest, that seems like a huge overstep on Upholds part. I’ve moved major funds on Exchanges, and the only verification is the “normal” compliance info, name, SSN, address. I have never seen any crypto company, exchange, stock, or investment that required that kind of personal info. That’s asking a bit much. Maybe if one were moving hundreds of thousands in trading then I could completely understand that.

I hope I don’t get hit with that kind of requirement. Quick call to business lawyer, and I’d shut my account down too. Sorry that happened. :roll_eyes:

edit: spelling fix

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I agree…and if I were moving hundreds of thousands of dollars I probably wouldn’t mind the extra due diligence, but for $4 a month this is absurd

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I could be wrong but I do believe that you guys are misunderstanding what that means.

verify your source of wealth and source of funds.

This is for those who plan to use their accounts to invest in cryptocurrency. So if you’re using your real world cash to buy BAT, BTC, or whatever else then they need to see where that money is coming from. This is to prevent money laundering, theft, etc

However

In this case, the source of funds and wealth is not the bank or any other part listed. The source of wealth would be Brave. They would be seeking screenshots of our Brave Wallet and all. And that’s only if they end up asking you for it.

They don’t particularly show Brave but to give an example using other locations, check out https://support.uphold.com/hc/en-us/articles/4407259457563-How-to-verify-your-source-of-funds-for-major-Exchanges

That said

They will require identification. If you’re in the United States, they’ll also require your social security number. This is because of government regulations. Check out the link below for what you need

In short, I think there’s just been a misunderstanding and a complete fear on the information needed. I would highly recommend you reach out to customer support at Uphold to clear up any concerns.

And again, when you look back at the requirements it kind of clears itself up. So if you’re spending $10,000 they want to know where that $10,000 came from. So was it from a loan, inheritance, or what? Then they want proof of it, to make sure it’s legit.

Then to further prove it, they want to know where the money is coming from. So that’s the bank accounts and all.

Why?

Well, I might have proof of a settlement or something but then could steal your bank account and use YOUR money, claiming it’s mine. Maybe I could BS my way through the first part but then the second would force me to show a paper trail. It would be their due diligence to say it seemed legitimate and came from where you I said it did.


So yeah, they are looking for SOURCE of wealth and funds. For us, the source is Brave so the rest wouldn’t be needed. In fact, they kind of tell you that.

  • Crypto wallets
    • Here is what we need for wallets on major Exchanges

As far as source of wealth, it would fall over Other and you’d dictate Brave. It isn’t a salary, profit from business, or anything else so you wouldn’t have to show those.

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I call BS…they can see where the money is coming from…in my case it was literally only from Brave rewards…but normal banking procedures they’d flag anything over a specific large amount anyway…and the request asks for documents in two categories and if you don’t turn in documents from those categories you can’t receive funds until you do…problem in my situation is that literally nothing in the wealth category applies

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@kenaustin3rd you’d tell them Brave is your source. You wouldn’t provide them all the other things you’re talking about. You’re just showing that link and then making assumptions, right? Or did they specifically tell you that Brave as your source of wealth and funds doesn’t count?

So proof of wealth would be something like
BAT Balance
And yeah, it’s low because I had been blocking ads until like last Wednesday. Also hadn’t been using PC, but that’s a little off topic, just mentioning in case someone wanted to say something about low amount of ads and BAT

2nd proof would be Brave Wallet…which I’m not going to provide here as that’s obviously something we should keep privy overall. But since it would be linked to them, they’d see it. Or perhaps they’d need the 30 day thing. You’d have to submit it and talk to their customer service

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