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Heatedmeatballs
joined aug 2020
share Heatedmeatballs and generate bitcoin with reference codes.
3 topics on Heatedmeatballs
+1
Heatedmeatballs
Bitpanda enforcing travel rule
Morning all, bad news I'm afraid.

It would appear bitpanda has begun to fully enforce the travel rule which came into effect 30/12/24. Entering any name and wallet host appears to no longer work. Bitpanda is now fully reviewing transactions (maybe a proportion I don't know) and demanding the full legal name and date of birth of the transaction counterparty (recipient).

Here's the email I got from bitpanda support when I queried:

"We are contacting you regarding one of your recent crypto transactions on the Bitpanda platform.

To help us investigate and resolve this transaction as quickly as possible, please provide us with the full legal name of the transaction counterparty (recipient/sender). In accordance with the Travel Rule regulations, we are required to implement strict security measures for all crypto transfers. You can find more information about the Travel Rule and its requirements in our FAQ.

Please note that without the required information, we will not be able to proceed with the transfer. We kindly ask that you reply to us within 3 days, otherwise, the transaction will be cancelled.

We apologise for any inconvenience and thank you for your cooperation and understanding. If you have any further questions, please do not hesitate to contact us via our contact form.

Best regards,
Team Bitpanda"

Here's their faq on the travel rules:

https://support.bitpanda.com/hc/de/articles/17026452287260-FAQ-Travel-Rule

Looks like I need a new wallet or it's back to seeing my man Chin (he's alright to be fair).

Anyone got any wallet suggestions or work around? Cheers.
joedassinmosquito2
Ah that’s annoying mate - what I’m doing is just sending it to an anonymous Exodus wallet first (twice the sending fees but no scrutiny or hassle). And putting down the recipient as myself of course, “self-hosted wallet”. After that, no one checks - I can send to LB. Gives me peace of mind as all the Bitcoin platforms are getting twitchy these days ;). I’ve heard of people having their Coinbase accounts shut down for sending to LB.

Anyway, glad it finally went through for you! But I’d def recommend using a free wallet like Exodus from now on.

Oh and just one tip - I can’t seem to send Bitcoin on the mobile version of Exodus, only the desktop one.
joedassinmosquito2
Also remember to check the sending fees on Exodus, and buy a little extra bitcoin for sending from Exodus to LB - I only say that because I’ve been caught out by that more than once ;((
Heatedmeatballs
Nice mate appreciate the advice and I'll do exactly that. Yeah the whole extra security is a right pain but as long as you can work round it I suppose. Have a great day and take it easy.
Heatedmeatballs
Thanks again mate, you're a star.
+2
joedassinmosquito2
No problem, glad to help :)

Oh, and as I said in my post above, don’t forget to buy a little extra bitcoin for the second sending fee (Exodus>LB) - my stoned ass has forgotten that once or twice at least ;)

Have a great day!
+2
Heatedmeatballs
Just as an update for anyone who has similar, All went through in the end, I just gave bitpanda my own date of birth and name (which they must already have?) and they agreed to put it through. Fuck knows?
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