Tell SN: Warning about Strike
2265 sats \ 19 comments \ @021da48107 8 Jun 2023 bitcoin
I have been having some serious issues while trying to create a new account with Strike and wanted to let everyone know to be careful with this company. I also thought about posting this after reading this SN post.
Here is what happened:
  1. I tried to open an account with Strike, put in my phone #, KYC info, and then email, however I used an email forwarding service, specifically duckduckgo's.
  2. After creating the account it asked me to verify my email before I could continue. Pretty standard, makes sense.
  3. The email never arrived in my inbox. So I opened a support ticket with Strike, however they wanted me to send the email from the duckduckgo email address, which isn't currently supported by duckduckgo.
  4. I figured, oh well I'll just create a new account, and this time not use the email forwarding service. When I tried to create a new account it won't let me because my phone # is tied to the previous account.
  5. I asked Strike support if they could either send me an email at the duckduckgo email address, to which I could then response and it would show up on their side as coming from the proper address, or remove the phone number from the previous account so I could create a new account. As far as I can tell I can't update the phone # via the Strike app.
  6. They asked me to include a picture of: a hand-written note with the strike ticket #, with my face, and my ID, also my arm has to be clearly visible in the picture.
  7. So I send the picture and they say that the picture doesn't include my arm, so it will not work. I sent an updated pic and now waiting on Strike.
This is all pretty ridiculous and just shows that support from Strike, as well as their software has some issues. As a bitcoin company they should support privacy tools like email forwarding services. Also, I've used the duckduckgo email service on hundreds of sites, Strike has been the only one that has not worked with it.
After all this my take-away is:
  1. Don't put all your eggs in 1 basket. Make sure to sign up for Swan, Strike, Cashapp, River financial and verify you can use all of them. You never know when one of them will have an issue like at Swan right now where they paused withdrawals. You never know when their customer support will suck and not help. You never know when they will go belly-up, or the SEC will take them out ;)
  2. Using a non-kyc method of purchasing is looking much more attractive and worth the premium.
  3. Look into an email forwarding service that allows me to send via the masked email address.
write
preview
related posts
408 sats \ 2 replies \ @FrickFrickFrick 8 Jun 2023
You need to follow the support ticket instructions exactly, they are rigid and specific for a reason. That sounds like its just a standard flow according to whatever internal rules and guidelines they follow for changing the email address associated with the account. It makes sense to verify the identity first.
Your takeaways are still correct. I don't know anything about the third.
reply
0 sats \ 1 reply \ @021da48107 OP 8 Jun 2023
Having my arm in the picture while taking a selfie, while holding my ID and a note isn't the easiest thing.
IMO this is all pretty stupid. This account I created already had KYC included, why doesn't my ID alone identify me enough to update the email, delete the account, change the phone number, etc? The account also did not make any transfers, hook up any accounts, etc because they won't let me. I'm not even sure if they are going to change the email, or the phone number or delete the account, they haven't gotten that far? At the end of the day I don't care what their internal rules/guidelines are, they are moronic and not helpful, and they don't protect anyone, it's just security theater.
reply
30 sats \ 0 replies \ @FrickFrickFrick 8 Jun 2023
They don't want to know that you own the ID - they want to know you are who you say you are. It is pretty stupid, but you can thank fraudsters and KYC for making it a stupid process.
If the arm is not in frame this is an indicator that the arm holding the ID could be manipulated into the image. They are looking for a fully attached arm. Does the shadows look right? Does anything look weirdly warped around edges?
There are so many things like that. All that stuff is not there just to make you dance so Jack Mallers can point and laugh at you from an empty shoe closet. It is a pain in the ass for the customer. It is a pain in the ass for the agent trying to get you through the pain in the ass process. Transmitting the data (notice they have you upload via a secure form?) is a pain in the ass.
It is a pain in the ass for all parties involved, but it is not security theater. We are talking about personal identity and handling personal information. I don't think companies like Strike or Swan are in the business of treating this as a joke.
There are no KYC options that you may look into. Can be its own pain in the ass but at least you're not gambling your identity information. The KYC process and any process that touches identity in an exchange is a nightmare.
Did you know if you live in one of those hotels that let you do month to month and live in it like an apartment do not qualify as a residential address with Prime Trust? The reason is because a hotel address is not legally a residential address and KYC information mostly requires residential information, not commercial.
KYC is an exclusive system that has a high error rate in filtering out bad actors.
reply
131 sats \ 0 replies \ @TonyGiorgio 8 Jun 2023
Thus is the custodian life.
You might want to look into simplelogin for an alias remailer that supports sending from the same alias.
reply
103 sats \ 0 replies \ @OriginalSize 8 Jun 2023
Non-kyc is going to grow as your experience becomes more widely felt.
reply
50 sats \ 0 replies \ @_b_o_n_e_s_ 8 Jun 2023
if your takeaway is its all strikes fault, and the answer is to sign up for more kyc (1), then not sure what youre looking for in bitcoin really...
reply
10 sats \ 0 replies \ @BlokchainB 9 Jun 2023
Sounds more like a complaint than a warning.
Use Bisq
reply
10 sats \ 0 replies \ @franzap 9 Jun 2023
Celebrate this!
KYC purchasing HAS to become a pain in the ass for the incentives to go to P2P marketplaces
And the premium is the privacy premium
reply
0 sats \ 1 reply \ @SpaceHodler 10 Jun 2023
Not sure how they could be privacy-focused if they have to require KYC. What's the point of allowing email forwarding services if you have to send them a photo of your passport anyway?
reply
0 sats \ 0 replies \ @021da48107 OP 11 Jun 2023
It isn't a zero sum game, they should support email forwarding services to increase privacy. They are forced by the government to collect KYC, If they weren't forced they wouldn't collect KYC.
The point is so they can't sell your email to advertisers and when there is a breach, your real email isn't leaked.
reply
0 sats \ 3 replies \ @random_bitcoiner 9 Jun 2023
So I send the picture and they say that the picture doesn't include my arm, so it will not work. I sent an updated pic and now waiting on Strike.
Why do you put up with it? it's so humiliating having to go through this. It's like you're begging them for the privilege of having to guard your money. You don't need this to use bitcoin.
reply
33 sats \ 2 replies \ @021da48107 OP 9 Jun 2023
Why do you put up with it?
Simple, KYC exchanges are cheaper than non-kyc.
reply
22 sats \ 1 reply \ @random_bitcoiner 9 Jun 2023
First it's always your privacy that you're selling, be aware of that.
But second; I don't know where you're based, I assume it's the US because it's the only place where you can use strike to buy bitcoin, but you must have other choices. Why put up with such a crappy service?
reply
0 sats \ 0 replies \ @021da48107 OP 9 Jun 2023
First it's always your privacy that you're selling, be aware of that.
Good point.
but you must have other choices. Why put up with such a crappy service? I've been using other services, I just wanted to make sure I had options in case the other service(s) I was using have issues.
reply
0 sats \ 0 replies \ @SatoshiNakanodo 9 Jun 2023
Answer = Takeaway #2
Follow your instincts.
HodlHodl or LocalCoinSwap are good ones to start with. There’s also Robosats and Bisq.
Also, get a burner phone. Tracfones are fairly cheap.
reply
0 sats \ 0 replies \ @Busybe3z 8 Jun 2023
𝐇𝗼𝐰𝐝𝐲 𝐝𝗼 ? 🀠 πŸ‘‹
reply
0 sats \ 0 replies \ @nout 8 Jun 2023
Yeah, this is a common process with KYCd systems, as a next step you need to take a selfie with this.
reply
0 sats \ 0 replies \ @PlebeiusG 8 Jun 2023
Never had a problem.
Sounds like the email forwarding was your issue.
Your mileage may vary.
reply
0 sats \ 0 replies \ @numbskull 8 Jun 2023 freebie
What if they ask to make naked selfie doggystyle next time, just wondering how far it can go?πŸ€”