So, as I was about to withdraw some BAT, I get redirected to this Uphold site.
I don’t understand this.
The browser has a built in wallet, why don’t the BAT just go there instead of going through this third party Uphold?
There I need to verify my identity, and the whole thing about the Brave browser should be privacy.
Indeed, cryptocurrency in general is about privacy.
Why do I need to verify my identity?
I don’t want my wallet to be traced to my identity, there is no need to.
Why should it?
So, I’m very discontent about this.
There it goes, I have like, 25 tokens that I can’t move around.
What a waste.
@peterparkour,
Note that you don’t have to use Uphold in order to earn BAT and use it to support content creators online (which is the tokens intended purpose). If you want to withdraw your tokens in order to exchange them to fiat or move them outside of the ecosystem then yes, KYC with Uphold is required by law. You can read more here:
Yeah, but the token itself can be passed by person to person, no need to exchange.
This KYC is ratter problematic, at least the way I see it.
Let me illustrate with an example.
Lets say I’m a content creator in China, perhaps an independent Journalist.
I use a VPN to pass the Great Firewall and own a website in which I publish stuff about the atrocities the government does.
People send me BAT for my great content and exceptional altruistic journalism skills.
Cool, much grateful, much moneys.
I use Uphold to withdraw the moneys, much smart.
The Chinese Comunist Party knocks on my door and I vanish.
Much dead.
The hypothetical example case laid out is understandable.
The operational reality is that in order for Brave as a business and organization to operate within the rule of law, while also providing features that allow for people to add, remove or convert BAT to crypto and USD, or remove BAT earned through rewards off the platform, that it requires using a custodial partner that’s licensed and regulatory compliant. Uphold is our partner that handles this, and in order for them to operate with regulatory compliance, they are required to have compliance checks as part of their process to ensure that people are not defrauding the system, and/or using the system in a way that could support money laundering, violates sanctions, etc.
This is not a situation that’s unique to Brave. Nearly every major exchange requires similar measures, and in this case it’s handled through Uphold directly. We’re working on making more options available, and have our Crypto Wallets feature natively integrated into the product for fully decentralized blockchain transactions and functionality.
When we’re talking about operations within Brave Rewards, which has publishers and creators spanning from the Washington Post to first-time YouTube Creators, we want to have a platform that makes it easy for people to take BAT revenue as an alternative to other models in-market, protects the organization from fraud risk as much as possible, and also operates with compliance to ensure we can remain in business and operate within the rule of law.
then why do upload refuse me an account and refuse to say why when all thee right documentation was sent(have used to open all my other accounts that require KYC verification) Uphold Support February 28, 2020 18:22
Hi there,
Thank you for your interest in opening an account with Uphold. During a review and assessment of the information provided during the verification process, it was determined that we are not able to offer you access to an Uphold account. We understand this can be frustrating, however, this not eligible for further review.
We appreciate your understanding and sincerely apologize for the inconvenience.