Nearly every Bitcoin service available in the world today has terms of service policy preventing users from running multiple accounts on the same platform. These rules are especially needed for Bitcoin exchange platforms which impose financial restrictions on user accounts until they reach a certain “verification threshold”. Creating multiple accounts to use Circle Pay and bypass its limit will eventually get you banned, so don’t even try it.
Also read: Sports Betting with Bitcoin Bypassing Circle Pay Limit Will Not Work
While it may be annoying to be stuck behind artificial transaction limit walls when dealing with Bitcoin platforms, there is usually an excellent reason why this would be the case. Companies are the ones taking the responsibility for keeping consumer funds safe, and any illegal activities will have to be paid out of their own pocket.
Circle is one of the very few Bitcoin companies dealing with credit and debit card payments in exchange for Bitcoin. The mobile Circle app, called Circle Pay, lets anyone quickly and conveniently send Bitcoin payments to anyone else in the world, at no cost for doing so.
In a way, it would be theoretically possible for someone to buy Bitcoin with a stolen credit card, use the bitcoins through a mobile app and send them to a different address. Even though this type of event is a very rare occurrence, Circle Pay limits newer users as to how much funds they can send on a monthly basis.
That US$300 artificial ceiling can be a major annoyance for some people, but it is rather easy to build up more reputation and have the limits increased. All it takes is becoming an active Bitcoin user through this mobile app, as the number of significant transactions through one’s account is the key factor.
Some people are […]
