[throwaway10110]

This basically kills BitPay who recently made all transactions (of any value) in crypto require KYC registration.

[brotherofsteel]

What PayPal is offering is not even close to what BitPay is doing. On PayPal you will only be able to use cryptocurrency that you bought from PayPal, you cannot transfer cryptocurrency in or out of your account. All you can do is buy cryptocurrency from PayPal and then sell it back to them at a later time.

[throwaway10110]

I see, wow, then this sucks

[ajkdhcb2]

It killed itself. I stopped using several services because they want me to send fucking passport info to make a $10 transaction, so unsafe.

[jypepin]

I never used bitpay but I don't think it's their fault to have to request passport verification. As a money transmitter they are required to answer to KYC rules, which includes passport or other docs verification to ensure you are who you are.

If you are wondering why Paypal never asked for your passport, it's probably because you eventually linked Paypal to another KYC-compatible entity, such as your bank (by linking your bank, sending money with your credit card, etc).

I assume in the case of bitpay you would only link your btc wallet which in itself doesn't offer KYC verifications.

[dgellow]

It's not like they have a choice. KYC is a standard requirements when dealing with money transfers.

[pingec]

Are there any alternatives to bitpay?

[vmception]

BitPay killed themselves when their invoicing UI stopped working over Tor