I have been a long-term user of NiceHash for several years, and my experience was positive until recently. I had successfully completed the Know Your Customer (KYC) verification process in the past and was using the platform without any issues. However, things changed when NiceHash updated their system and required users to re-do the KYC verification fully.
KYC Verification Challenges After System Update
Following their request, I promptly submitted my Spanish Permanent Residence Permit for the new KYC process. Despite complying with all the guidelines and being ready to provide any additional documentation, my verification was repeatedly declined without a clear explanation. The responses I received were generic, copy-paste messages that did not specify what was incorrect or missing in my submissions.
Inaccessible Funds
As a result of the failed re-verification, my account was permanently locked, and I lost access to my funds totaling approximately 800 EUR (0.00977240 BTC). I made multiple requests to withdraw my funds to my personal Bitcoin wallet, but these were met with the same standard replies, and no action was taken to return my money.
Lack of Clear Communication
Throughout this ordeal, the customer support and compliance teams at NiceHash did not address my specific concerns or offer any solutions. My requests for a detailed explanation or guidance on how to resolve the issues were ignored, leaving me frustrated and without access to my funds.
Conclusion
This experience has been extremely disappointing, especially considering my long-term relationship with NiceHash and prior successful KYC verification. The lack of transparency and unwillingness to assist a loyal user raises serious concerns about their customer service practices. I hope that by sharing my story, others will be aware of these potential issues when dealing with NiceHash.
Recommendation
If you are considering using NiceHash, I strongly recommend exercising caution. Ensure you understand their policies thoroughly and be prepared for potential challenges with account verification and fund withdrawals, especially if they implement changes to their KYC requirements.
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