Over a year ago I decided to open a free Xapo account because I thought it would be the safest place for me to store my bitcoin. Wences Casares seemed like a reputable Silicon Valley hotshot with a proven record for success. The idea that my coins would be secured in deep cold storage vaults on 3 continents also gave me peace of mind. Setting up my Xapo account was easy. I just provided my name and my passport number and that was it. Within minutes I had my bitcoin securely deposited in the Xapo Vaults.
Everything was fine until a couple of months ago when I wanted to sell some coins to pay some Xmas expenses. When I tried to withdraw my BTC, Xapo told them I needed to go through a KYC/AML procedure and send them a copy of my ID and a utility bill. The problem is I live in shared accommodation so I don't have access to a utility bill in my name.
I don't have a problem with Xapo requesting this information but they should have done it before I deposited my bitcoin. Now it feels like they've stolen my coins and I'm worried that they might be a scam.
Everything was fine until a couple of months ago when I wanted to sell some coins to pay some Xmas expenses. When I tried to withdraw my BTC, Xapo told them I needed to go through a KYC/AML procedure and send them a copy of my ID and a utility bill. The problem is I live in shared accommodation so I don't have access to a utility bill in my name.
I don't have a problem with Xapo requesting this information but they should have done it before I deposited my bitcoin. Now it feels like they've stolen my coins and I'm worried that they might be a scam.