In Pictures: Adventures in the world of bitcoins

Here are the lessons learned after spending 6 months experimenting with multiple bitcoin services

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Proof of identity All of the services take great care to observe both U.S. and host country antilaundering regulations. As such they require extensive identity proofs, especially for businesses. This image shows the process at Kraken, but each exchange has a similar approach. The more detailed approval levels involve manual processing; expect to wait several days before you can trade at the levels gated on such approval.

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In Pictures: Adventures in the world of bitcoins

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