The Offer
- Cryptocurrency platform ShortHop is offering $25 in BTC when you validate your identity with the site
The Fine Print
- Available in the following states: California, Indiana, Illinois, Massachusetts, Montana, Nevada, New Jersey, Rhode Island, Utah, and Washington
- Following completion of successful Level 1 identity verification, ShortHop will deposit $25 USD equivalent of Bitcoin into your Bitcoin (BTC) wallet.
- Following your successful verification at Level 1, your BTC credit will be immediately available to use for trading on the ShortHop platform. This BTC credit will only be available for transfer to an external wallet following: (i) your successful completion of a new order on the ShortHop platform, and (ii) a waiting period of thirty (30) days following your successful Level 1 verification.
- Please note that your available balance will not reflect the BTC credit until the aforementioned qualifications have been met. If you do not successfully complete a new order within thirty (30) days from your successful Level 1 verification, you understand that you forfeit any right to transact using the BTC credit. Notwithstanding the foregoing, upon successful Level 2 verification, your BTC credit will be promptly made available to you for withdrawal to an external wallet.
Our Verdict
Looks like level 1 verification requires your name, contact information, address, and the last four digits of social security number and level 2 verification (required to cash out the BTC) scan or photo image of a driver’s license of government-issued ID. Looks like Short Hop is an off shoot of Velocity Markets. I’ve never heard of either of these sites/services before but I don’t really follow crypto closely. Personally I’ll be giving this deal a miss as I don’t feel comfortable sharing that sort of data with them but others might.
Hat tip to reader iconartisan
I was now able to withdraw my funds with just a level 1 verification since it has been 30 days. I converted the Bitcoin to ETH and sent to my coinbase wallet.
How were you able to withdraw with Level 1?
Because it has been 30 days. You can’t do so before that period if you’re just on a level 1 verification. You also need to make a “new order” to withdraw funds. I converted BTC to ETH and this seems to have counted as a new order.
Is this a scam? I see a few concerned comments about how this company is a scam. Would like to know more before signing up.
I have completed both level 1 and 2 verification, received my $25 bonus and have converted it to usd successfully. However, I have linked my bank account and am getting error messages when trying to withdraw. I don’t want to withdraw the bitcoin directly because the site wants to charge me almost $5 for doing so. Any ideas on how I can get around this? Maybe you can’t withdraw for 30 days even if you have level 2 verification?
Update, I was able to withdraw my $25 after being registered for 30 days, even though I had completed level 2 verification. Will see if I get the deposit into my bank account after the 5 business days they say.
$24.88 is pending in my Chase bank account today from this offer, so not a scam after all.
shorthop is a scam just trying to hold on to your crypto. Terrible company do not use them.
how come? curious
How long did everyone had to wait to complete level 2 verification?
1 minute, maybe 2.
bullshit it took a fucking day after about 20 attempts
2 minutes for me.
dont listen to this shit shorthops a scam
So you have to complete a transaction in order to transfer the funds offsite. In order to complete a USD transaction, you have to do level 2 ID verification which includes giving your full social. But I was able to buy Ethereum with the Bitcoin they gave me.
Hoping they count this as a transaction so that I can later transfer the Ethereum off their platform.
Thanks for the deets! I did the same. Lets see if that’s enough to transfer out.
I did the same (traded for ETH) which I just transferred to another wallet. I don’t think the transaction is even necessary. It looks like you could probably just send the BTC to another wallet and cash it out or even sell for cash on ShortHop. I sent to Coinbase and cashed it out for $23.03 in my PayPal account.
Have you complete LV2 KYC or just LV1, im at LV1 and cant withdrawn my btc.
I completed level 2.
Their terms are confusing, but with this data point it makes sense. If you do the Level 2 verification, you can withdraw the bonus BTC immediately. If you don’t do Level 2, you need to do one trade and wait 30 days after Level 1 verification.
Thanks for reply Kyle.
How long does it take to receive ur coin after request a withdrawn?
It’s pretty much instant. I had money in paypal in about 30 minutes from sign up.
your full of shit kyle you cant withdraw no matter what until you deposit
Sounds like you had some issues? Feel free to give us specifics so others can learn from them.
dont listen to that bullshit hes lying and probably works for shorthop you cant withdraw until you deposit
getting the error (after first successful account set up) Emails are limited to a private beta list
Not available in UT
What is the meaning of Cryptocurrency if you have to disclose who you are?
Defeats the purpose of making it anonymous, yes, but I think that’s the point. Bad actors and all that.
Smart, little hurdle they added to make you do one new order before you get the freebie… I guess I could buy $0.25 in BTC?
Nope, minimum purchase looks to be just over $15.
Tony, the disclosure of personal information (KYC – know your customers) is required by the US government. So, if you are trying to shift the blame, the blame should fall squarely on the government, who fears the disruptive technology of Bitcoin. It will expose all the bad actors in the Fed and their incessant printing press, robbing the middle-class of future wealth.