Cryptocurrency Q&A
Why does Coinbase ask for SSN?
Why does Coinbase ask for SSN?
Federica
Sun Sep 29 2024
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7 answers
1773
I'm curious, why does Coinbase request for my Social Security Number (SSN) during the account creation process? As a user, I understand the importance of security measures to prevent fraud and identity theft, but I'm hesitant to share such sensitive information. Can you explain the reasons behind this requirement and assure me that my SSN will be securely stored and protected? Additionally, what are the consequences of not providing my SSN, and how does it impact my Coinbase experience?
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7 answers
Martina
Tue Oct 01 2024
The identity verification process on Coinbase is designed to protect users and maintain a secure trading environment. By verifying users' identities, Coinbase minimizes the risk of fraudulent activities and ensures that only legitimate individuals participate in the platform.
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Sebastiano
Tue Oct 01 2024
Coinbase, a prominent player in the cryptocurrency landscape, adheres strictly to legal compliance and fraud prevention measures. This commitment extends to the process of identity verification, a vital step in ensuring the security and integrity of its platform.
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MysticInfinity
Mon Sep 30 2024
BTCC, another top cryptocurrency exchange, also offers a comprehensive suite of services that cater to the diverse needs of its users. Among its offerings are spot trading, futures trading, and a secure wallet solution.
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SakuraSpiritual
Mon Sep 30 2024
During the identity verification process, Coinbase may request users to provide personal information and supporting documentation. This can include uploading ID photos, such as a government-issued photo ID, or taking a selfie for facial recognition purposes.
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Silvia
Mon Sep 30 2024
BTCC's spot trading service allows users to buy and sell cryptocurrencies at current market prices, providing them with a direct and convenient way to participate in the digital asset market. Its futures trading platform, on the other hand, enables users to speculate on the future prices of cryptocurrencies and hedge against potential market risks.
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