Bull Bitcoin to Require KYC for Canada Post Cash Deposits \ stacker news ~bitcoin

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Bull Bitcoin to Require KYC for Canada Post Cash Deposits bullbitcoin.com/announcements#about-faq--762336928

3442 sats \ 14 comments \ @gnilma 1 Apr bitcoin

I got an email about this in the morning. I then went to check it on their site and saw the announcement. At first, I thought it was an April fools joke, but my friend who is still on Twitter said that Francis Pouliot confirmed the announcement on Twitter.

Ever since they released the no KYC Canada Post cash deposits, Bull Bitcoin had been my place to stack sats. It was fast, smooth, and works like a charm. It's a shame that it did not even make it to the 1 year anniversary. Fucking governments.

Thanks again to Bull Bitcoin for providing an excellent service that helped many Canadians, including myself, to stack non-KYC sats for the past 11ish months. I guess it's back to Bisq and Robosats, dealing with e-transfers...

The following is the announcement on their site.

Starting April 15 2024, Bull Bitcoin customers using the “In-person payments at Canada Post” account funding option to buy Bitcoin will have to perform identity verification before they can complete a transaction.

When making the payment at Canada Post, the Canada Post clerk will ask to see a government-issued identity document and match it with the information in your Bull Bitcoin account to make sure it’s you.

This decision is entirely out of our hands and was mandated to us as a condition to continue offering the account funding service at Canada Post.

We understand that this adds a level of friction to the previously flawless user experience that Bull Bitcoin was offering. We apologize for any inconvenience this may cause.

Sun Mar 31 2024

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369 sats \ 1 reply \ @siggy47 1 Apr

I'm surprised it took so long. It was a pleasant anomaly

86 sats \ 0 replies \ @gnilma OP 1 Apr

They are pretty small, so I guess that helped them fly under the radar. But all good things come to an end when you have to be under the mercy of the government.

173 sats \ 1 reply \ @BlokchainB 1 Apr

Fought the good fight

50 sats \ 0 replies \ @gnilma OP 1 Apr

They tried. Kudos to the Bull Bitcoin team.

113 sats \ 1 reply \ @fixthemoneyfixtheworld 1 Apr

So Hodl Hodl is probably the closest alternative to this option for Canadians now, I guess?

57 sats \ 0 replies \ @gnilma OP 1 Apr

I've never uses Hodl Hodl, but I was a heavy user of Bisq, and a moderate user of Robosats before switching to Bull Bitcoin no KYC buying last May. The problems with the online no KYC exchanges, at least on the CAD market, are that most orders still settle using interact e-transfer on the fiat side, and the order books are thin as paper. That causes most sell orders to be relatively higher than market. I had a notification set on Bisq where I used to sweep up any sell order that is within 3% market price...

41 sats \ 0 replies \ @0xbitcoiner 1 Apr

F******

31 sats \ 1 reply \ @grayruby 1 Apr

It was such an elegantly simple solution. What a shame.

60 sats \ 0 replies \ @gnilma OP 1 Apr

Really sad to see it go. I fell in love with the service on my first use. Now I have to deal with sending etransfers to strangers again, which sucks.

21 sats \ 1 reply \ @RdioActiv 2 Apr

Did you really expect a crown corporation to launder money for you? 😄

90 sats \ 0 replies \ @gnilma OP 2 Apr

Haha, that's the best part of the whole setup though. Use a crown corporation and its service to handle the fiat for people to exit from the fiat system.

21 sats \ 0 replies \ @Deleted10000 2 Apr

End of an era.

21 sats \ 0 replies \ @duvel 2 Apr

Another alternative could be having a community of people willing to buy/sell Bitcoin where you could trade in cash.

21 sats \ 0 replies \ @BitcoinIsTheFuture 1 Apr

Keep fighting all!