Question about buying gold? OSRS

[HitMyBlunt]

hopefully you guys can make sense of this...for me because i am confused

so i find myself buying gold in small quantities like 3-4 times a week all from
different sellers...now why would i do that one would ask?

well simply because once i go over like 10-20m depending on the website/seller

they want me to send a picture of my face and a picture of my government ID?

I am probably just not knowledgeable on the situation but to me that seems sketchy as fuck? like identity theft sketchy and when i asked paypal if this is a safe practice they also say that is probably not a safe idea and a common identity theft practice from foreign countries selling online goods (they may also just be giving me the safest option for protection of themselves)

so ultimately i just wanna know more about this...

Is it safe?
Would you do it?
explain to me a little bit more why this is the only option lmfao because its a little absurd especially when i am paying THEM first and they don't even tell me about this shit then i got to wait over a week to get refunded , and even though I AM NOT A SCAMMER i certainly feel like one when i go site to site asking "how much gold can i buy without needing gov ID" lmfao

 

[Sept]

They're asking you this because you're untrusted. It helps prevent them against paypal chargebacks. A lot of fraud is committed on paypal, people claim the payment as unauthorized. The ID helps them from getting scammed.

Edit:
You shouldn't buy from Chinese gold sites anyways. They're very flagged in RS. Also you never know, their security might be terrible and then your ID could really get stolen.

 

[Xier0]

Several options here.

-I've never heard of any incidents on Sythe where customer IDs were misused. The reason that sellers require this is to make sure that you aren't paying from a stolen Paypal.

-Become a regular customer of one seller so he becomes familiar with you and trusts you enough to sell you larger amounts of gold.

-You can buy much more without ID from most gold sellers if you buy gold that frequently and get vouches for it, since you will have completed transactions successfully without scamming.

I suggest the third option.

 

[HitMyBlunt]

that's where i had went wrong with a few sites (and mainly why i am confused) not going to mention any of them because they are very legit and refunded me afterwards so don't wanna cast them in a dark light what so ever but here is where it just blew my mind lol

one site in particular i had bought like 5-30m every couple days (some for me some for my friends) then one day i do a 13m order and out of nowhere are demanding photo ID lmfao i guess i can't sit here and cry about it, they did refund me it's unfortunate that there are scammers out there making the process that much more inconvenient for others.

anyhow thanks for the input, if anyone else has anything else to say feel free



p.s - ya i heard asian gold sites are super unreliable so i don't even fuck with them..

is there any method of payment where u cant do an unauthorized charge back? so that they wouldn't need ID

even though i believe they are legit something just doesn't feel right sending a picture of my drivers license to someone over the internet over some virtual coins
so unless i can find a way around that i guess ill be buying 5m every single day for a year from 20 different people LMFAO

 

Yes, its normal for them to ask and I don't consider it sketchy. In fact, its pretty common policy.

As a merchant accepting Paypal payments you're going to be dealing with a pretty high fraud rate. With the gold margins being so bad, taking a single chargeback can be a huge loss in profit.

Here is a hypothetical scenario. A site purchases 30M RS07 for $1.25/M. They sell you 30M RS07 at $1.55/M. From the sale, the site earns $7.5. That's not factoring in PP fees, time spent, website cost and upkeep, account bans, etc.

If the payment is charged back, they lose $37.5. A $30 risk, for a $7.5 profit.

The only logical thing for them is to take measures to reduce the fraud rate as much as possible. An ID is one solid way to do this. If the buyer can provide an ID that matches the billing information, that at least ensures the Paypal account isn't compromised. Although the person can still charge back, the risk is substantially less. And if they do charge back as an authorized payment, they can provide that information to Paypal to help fight that claim.

There isn't a ton you can do with just an ID anyway. Unless its paired with something like a SSN, bank account, etc.

There are a few things you could do.

1) Obviously just provide ID

OR

2) Find a more secure payment method. Bitcoin, paypal my cash with a receipt, etc. If you have a secure payment method, they won't ask you for an ID.

OR

3) Find a site you feel comfortable providing it to. Bigger sites have handled hundreds or thousands of peoples payment information. If they were in the business of releasing it, then they'd be out of business pretty damn quickly.

 

[HitMyBlunt]

i'm fine with the receipt, in fact some people who have asked me for ID had previously done the receipt i would much rather do that and yeah i understand what you are saying actually until this thread i didnt even know charge backs were a thing haha so shows what i know

 

[VladBots]

These websites need to collect ID for larger transactions to win big chargebacks if they occur. RuneScape is full of scummy people who buy GP and chargeback and re-sell it for a profit, essentially scamming the website(s) they bought it from. Gold sites have to take precautions against these chargebacks so that they don't get robbed. They have thousands of IDs and credit cards (Unless they are new) so you don't really have anything to worry about.

If you don't use PayPal and use something nonchargebackable you do not need ID in most circumstances. At BoglaGold, I don't think we ever require ID for bitcoin or PayPal MyCash cards for example.

 

I always felt a little weird about sending all that stuff to the gold sites but now it's just protocal. Send em some selfies of you with your shirt off holding your ID lol.

 

[Lowbeat]

Yeah, this happened to me once aswell. A few days before it happened I bought 35M, and all they asked me to do is to forward the receipt to their email, which I was OK with. Then, a few days later, I tried purchasing 15M to find them asking me for my ID. Uploading your ID for strangers that usually have no business with you just feels too weird imo, so I tend to turn to sellers that don't require this. I do understand why some sellers would require this, though, don't get me wrong.