Dan.com

DAN.COM refuse to send $11k payment by BTC

NameSilo

Sky2

New Member
Impact
8
Hello,

I sold a domain for $11k and I agreed with the buyer to use DAN because they can pay me by bitcoin payment. I contacted Dan support before the buyer sent the funds to make sure they allow bitcoin payout and they confirmed they can pay me by bitcoin. The buyer sent the funds and I transfered the domain to DAN.

DAN escrow manager Simon told me: it's my first transaction on DAN and I can't get paid by bitcoin. They can only send the money by wire transfer.
I told him this is not acceptable for me, the reason I used dan for Escrow because they allow bitcoin payout.

They told me they can send the payment by bitcoin before the buyer sent the funds and It's not written in their FAQ for first transaction payment by wire only. Now they refuse to pay me by bitcoin.

They have the domain and funds since September 16, 2021.
 
I do not understand what the problem is with being paid by wire?

Are Dan.com offering full payment less their commission (i.e. $11k - commission)? If so what is wrong with that? Or is it that you think that the Bitcoin paid has suddenly increased in value since the transaction took place?

As it is, if I were you and I particularly wanted payment in Bitcoin then I would this time accept the wire payment but clarify that in future transactions can be dealt with via Bitcoin. That way you have not lost out and clarified with Dan.com the future trading payment method to be adopted and had it okayed.

EDIT

I see Dan.com have replied immediately beneath this post. :xf.smile: Hope that has sorted it for you. (y)
 
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DAN.COM

Domain Marketplace
Dan.com Staff
Impact
4,020
Hi Sky,

We take compliance seriously. No company is allowed to send BTC payouts without performing KYC checks for example. Getting your account verified is easy. Simply follow our instructions and if you send us the requested documents now, before the end of the day you'll likely have your BTC payout secured.

Kind regards,

Dan
 

Sky2

New Member
Impact
8
Hi Sky,

We take compliance seriously. No company is allowed to send BTC payouts without performing KYC checks for example. Getting your account verified is easy. Simply follow our instructions and if you send us the requested documents now, before the end of the day you'll likely have your BTC payout secured.

Kind regards,

Dan


I sent you the requested documents on Sept 17.
 

Sky2

New Member
Impact
8
I do not understand what the problem is with being paid by wire?

Are Dan.com offering full payment less their commission (i.e. $11k - commission)? If so what is wrong with that? Or is it that you think that the Bitcoin paid has suddenly increased in value since the transaction took place?

As it is, if I were you and I particularly wanted payment in Bitcoin then I would this time accept the wire payment but clarify that in future transactions can be dealt with via Bitcoin. That way you have not lost out and clarified with Dan.com the future trading payment method to be adopted and had it okayed.

EDIT

I see Dan.com have replied immediately beneath this post. :xf.smile: Hope that has sorted it for you. (y)


If they told me from the beginning they can't send bitcoin payout for first sale, I would have used another escrow company. I made it clear from the beginning that I want to get paid by bitcoin and they said YES, we can pay bitcoin. Then they changed what they told me and now their escrow manager Simon want to send thr payment by wire transfer only. Why they didn't say this from the beginning?
 

boker

Top Contributor
Impact
2,831
If they told me from the beginning they can't send bitcoin payout for first sale, I would have used another escrow company. I made it clear from the beginning that I want to get paid by bitcoin and they said YES, we can pay bitcoin. Then they changed what they told me and now their escrow manager Simon want to send thr payment by wire transfer only. Why they didn't say this from the beginning?
Probably because the customer service guy didn't knew that it will be your first transaction with them, didn't knew the country of the seller and buyer, didn't knew the ip's and other things.
 

ntjedge

Established Member
Impact
345
I do not understand what the problem is with being paid by wire?

For certain countries incoming wire charges are huge and sometimes, the recipient banks hold back the deposits to the bank accounts when they are non-local currency. Considering the amount as $11K, the OP might end up losing a lot of it.
 

karmaco

Top Contributor
Impact
9,106
If they told me from the beginning they can't send bitcoin payout for first sale, I would have used another escrow company. I made it clear from the beginning that I want to get paid by bitcoin and they said YES, we can pay bitcoin. Then they changed what they told me and now their escrow manager Simon want to send thr payment by wire transfer only. Why they didn't say this from the beginning?

why are you bringing this here instead of accepting the money and moving on? Take your money and buy more crypto- easy.
 

karmaco

Top Contributor
Impact
9,106
For certain countries incoming wire charges are huge and sometimes, the recipient banks hold back the deposits to the bank accounts when they are non-local currency. Considering the amount as $11K, the OP might end up losing a lot of it.

That is not DAN’s issue thats a person’s issue to know how and what happens regarding payment and their chosen bank in their country. Everytime I see a thread like this it screams tax evasion.
 
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ntjedge

Established Member
Impact
345
That is not DAN’s issue thats a person’s issue to know how and what happens regarding payment and their chosen bank in their country. Everytime I see a thread like this it screams tax evasion.

Yes, I agree it is not DAN's issue. But the OP clearly enquired with DAN "before" initiating the transaction whether he can withdraw via crypto and DAN confirmed to him that he can. But then DAN refused to do it when the transaction was completed and the domain moved to DAN. That's the issue.

In this case, looks like DAN reverted back to the user for KYC compliance before the crypto payout, which is fine. They should've just mentioned in their FAQ that KYC is required for crypto payouts.
 

frank-germany

domainer since 2001 / musician
Impact
13,317
after having send BTC payout many times
DAN today asked me that (screenshot below)
( the "we will pay xxx amount of eur to you BTC adress xxx"
email was send the day before )

why did the BTC payment always go smoothly
but not today?

upload_2021-10-21_10-39-20.png
 

karmaco

Top Contributor
Impact
9,106
Yes, I agree it is not DAN's issue. But the OP clearly enquired with DAN "before" initiating the transaction whether he can withdraw via crypto and DAN confirmed to him that he can. But then DAN refused to do it when the transaction was completed and the domain moved to DAN. That's the issue.

In this case, looks like DAN reverted back to the user for KYC compliance before the crypto payout, which is fine. They should've just mentioned in their FAQ that KYC is required for crypto payouts.

who doesn’t know about KYC? Its been in effect for a very long time. The greater question is why isn’t someone willing to comply? Thats a red flag.
 

frank-germany

domainer since 2001 / musician
Impact
13,317
who doesn’t know about KYC? Its been in effect for a very long time. The greater question is why isn’t someone willing to comply? Thats a red flag.

I have never heard about KYC.
I thought it was fast food.

why does BTC payout work on oct 18th but not oct 20th?????


maybe because BTC is at all time high?

upload_2021-10-21_11-0-39.png
 
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frank-germany

domainer since 2001 / musician
Impact
13,317

Future Sensors

78% of human domainers will be replaced by robots
Impact
8,888
thank you

that still doesn't answer the question
why I got smooth BTC payment on 18th
but not on 20th of the current month

It may be because of an accumulation per time period. Just having too much sales, frankly ;)
 

frank-germany

domainer since 2001 / musician
Impact
13,317
The greater question is why isn’t someone willing to comply? Thats a red flag.


the answer is simple:

I want as little internet companies own this data as possible

upload_2021-10-21_11-16-54.png


and even more so
after the Epik desaster.

A picture of mine holding my passport ???
are you crazy?

I avoid pictures of mine on the internet to the amount more or less
ONLY that Avatar picture is stored on the net.



simple as that
 
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To be frank, it sounds like bs. Can you post this in dan thread, Frank? I want to know if this will be asked of everyone upon next sale who hasnt submitted documents. I went to sign up with instacart other day. Photo id and face pic. Not likely Epik nightmares
after having send BTC payout many times
DAN today asked me that (screenshot below)
( the "we will pay xxx amount of eur to you BTC adress xxx"
email was send the day before )

why did the BTC payment always go smoothly
but not today?

View attachment 202357
 
@DAN.COM Please confirm if holding ID/passport with written date is mandatory for payout via bank/PayPal ?
From their LiveChat:

Bank payouts usually don't require any ID documents, but depending on the decision of our compliance team, these documents may also be requested for high-valued bank payouts.
 
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