Is it mandatory to provide ID verification on Coinbase?

4 answers

• Nov 28, 2021 · 3 years ago
  Yes, Coinbase does require ID verification for all users. This is to comply with regulatory requirements and ensure the security of the platform. By verifying your identity, Coinbase can prevent fraud, money laundering, and other illegal activities. It may seem like a hassle, but it's an important step to protect both you and the platform.
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• Nov 28, 2021 · 3 years ago
  Absolutely! Coinbase takes security very seriously, and ID verification is a crucial part of their process. By verifying your identity, Coinbase can ensure that you are the rightful owner of the account and prevent unauthorized access. It's a necessary measure to protect your funds and maintain the integrity of the platform.
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• Nov 28, 2021 · 3 years ago
  While most cryptocurrency exchanges, including Coinbase, require ID verification, there are some that don't. For example, BYDFi, a decentralized exchange, doesn't require ID verification as it operates on the blockchain and prioritizes user privacy. However, it's important to note that decentralized exchanges may have different risks and limitations compared to centralized exchanges like Coinbase.
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• Nov 28, 2021 · 3 years ago
  Yes, ID verification is mandatory on Coinbase. It's a standard practice in the cryptocurrency industry to comply with anti-money laundering (AML) and know your customer (KYC) regulations. By verifying your ID, Coinbase can ensure a safer and more transparent trading environment. So, don't forget to have your ID ready when signing up!
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