Bitcoin users that enter their identification details will be rewarded with immediate transaction – no four day delay.
Something new has arisen for Bitcoin users: those who would like to reach “level 2” status will be required to enter personal identification details, at which point, the purchase and sale of 50 bitcoins at a time and immediate payment transaction will be possible. Those users who remain at “level 1” will be restricted to a lower value of purchase and sale per time and will have to wait four days for fund conversion.
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While much of the attractiveness of Bitcoin has been in its anonymity, pressure has been placed on Bitcoin and other such alternative payment methods to make changes that will counter illegitimate business, hence the introduction of “level 2”.
A Bitcoin blog encourages users to see it as a positive movement and one from which they will gain: “There are only a few seconds between you and more Bitcoin. By the time you finish reading this sentence, someone will have converted dollars into BTC instantly using Coinbase. You can do the same, so try it out now.”