Steps to withdraw RYO from Exrates.me
I wanted to test out Exrates for myself so I deposited some $RYO to see what the deal would be with KYC upon withdraw. Let it be noted deposits were confirmed very quickly so that was a nice start to the experience.
It is noted in the Verification section of your profile that “to deposit or withdraw US dollars or other fiat currencies” you need to go through KYC procedures.
The verification requirements are pretty comprehensive and not information I’d be eager to disclose.
Anyhow, I’m not interested in withdrawing fiat. After this stuff the big thing that jumped out at me was, yikes, painfully high withdraw fees.
- 50 fee on RYO withdraws (~$4 at the time)
- 0.0005 fee on BTC withdraws (~$27 at the time)
Minimum with amount of 300 RYO to execute a withdraw. After filling out the form and clicking Request Withdraw you get an interesting validation step to type in the number displayed.
Finish up with your 2FA token.
Then you’re notified you need to confirm via an email link.
Status of the transaction shows as “Emailed”
After approving via the email link there is a prompt for a “confirmation step” and the withdraw request goes into a “moderation process”? 🤔
After “confirming” for the confirmation step the transaction shows as in moderation status.
Now it’s a waiting game…this step sure does give one pause. Wouldn’t want to be transacting in any sort of high volume if you would be unable or unwilling to submit to the verification requirements on the off chance they decide to do require it on a whim during this step in the process.
For my piddly withdraw I had no issues though.
RYO: RYoKst8kjoNEZ2D2X8rmyoCEfZQ5U5BT8VqRvVQkkXaThhL9PNyibc2
