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They created a crypto startup that allowed you to purchase with stripe, then had a bunch risky transactions come through, which they diligently told stripe abou
by ukulele 8y ago
They created a crypto startup that allowed you to purchase with stripe, then had a bunch risky transactions come through, which they diligently told stripe about. So stripe closed the account because it was high risk.
They were a magnet for fraudulent transactions and had a ton of support requests on how to block various things; I don't really blame stripe for not wanting to process them.
- tptacek 8y agoThey probably don't even have the option of supporting them; their upstream banking partners have restrictions on these kinds of businesses.
- herendin2 8y agoWhat do you mean by "these kinds of businesses?"
- tptacek 8y agoCryptocurrency companies. Banks ban them.
- olsm 8y agoKeys4Coins is not a cryptocurrency company. We are an online shop for pc games. Your comment makes as much sense as it would saying Steam is a cryptocurrency company when they only accepted Bitcoin for payments.
- tptacek 8y agoDo you accept cryptocurrency in exchange for USD-denominated gift cards?
- herendin2 8y agoIf you don't know the answer to this question, why are you making these bold declarations about the company?
- chrisoverzero 8y agoHe knows that they do -- it's on the Keys4Coins front page. In case this is genuine confusion, this is a rhetorical device. i.e. A: "Do you want to go get ice cream?" B: "Is the Pope Catholic?!" The (obvious) "yes" to the second question is an indirect answer to the first.
- herendin2 8y agoIt's hard to believe that tptacek knew that already, but did not say it clearly 3 days ago, when the company was described as a "crypto startup". Why would he waste everyone's time with such rhetoric games?
- tlow 8y agoIf you read the article, they did get some seemingly nonsensical support responses from Stripe. Regardless of their application at the time they were a customer and given the standard customer-no-service support. That is notable.
- herendin2 8y agoWhat part of their business model suggests to you that this company is a "crypto startup"? For my point of view, it does not seem that Cryptocurrency was their product. They are not selling Cryptocurrency AFAIK.
- olsm 8y agoYou are right. It seems like a lot of people assume Keys4Coins is a crypto startup and we do not know why. They certainly do not bother to read the article or have a look on the website or they would easily see what we actually sell: pc games.
- olsm 8y agoWe are not a crypto startup. We are an ecommerce shop selling pc games. Cryptocurrency is a payment option. We did not sell cryptocurrency and we did not use Stripe for anythin related to cryptocurrency. Stripe was only used to sell video games. Also, we are not high risk, we are low risk. Go read the article.
- olsm 8y agoAlso, our support requests was in regards to a bug in Stripe's system that made some anti fraud measures not work at all. It is Stripes fault that the anti fraud rules we put in place did not work, not ours.