Why is identification required to raise my limits on Coinbase?

4 answers

• Nov 23, 2021 · 3 years ago
  Coinbase requires identification to raise trading limits in order to comply with regulatory requirements. By verifying the identity of users, Coinbase can ensure that it is operating within the legal framework and preventing fraudulent activities. This requirement also helps to create a safer and more secure trading environment for all users.
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• Nov 23, 2021 · 3 years ago
  The identification requirement is necessary for Coinbase to establish trust and maintain the integrity of its platform. By confirming the identity of users, Coinbase can reduce the risk of money laundering, fraud, and other illegal activities. This ultimately benefits all users by fostering a more transparent and trustworthy trading ecosystem.
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• Nov 23, 2021 · 3 years ago
  Identification is a standard practice in the cryptocurrency industry, and Coinbase is no exception. By requiring identification, Coinbase aligns itself with industry best practices and regulatory guidelines. This ensures that Coinbase remains compliant with anti-money laundering (AML) and know your customer (KYC) regulations, which are designed to prevent illicit activities and protect users.
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• Nov 23, 2021 · 3 years ago
  As a leading cryptocurrency exchange, Coinbase prioritizes the security and safety of its users. Requiring identification helps to prevent unauthorized access to accounts and protects against identity theft. By implementing this measure, Coinbase aims to provide a trustworthy and reliable platform for users to trade cryptocurrencies.
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