Why is selfie verification important for Coinbase users?

3 answers

• Nov 23, 2021 · 3 years ago
  Selfie verification is important for Coinbase users because it helps ensure the security and integrity of the platform. By requiring users to take a selfie and match it with their identification documents, Coinbase can verify the identity of its users and prevent fraudulent activities such as identity theft and account hacking. This additional layer of security helps protect users' funds and personal information.
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• Nov 23, 2021 · 3 years ago
  Coinbase users need to go through selfie verification to comply with regulatory requirements. As a regulated cryptocurrency exchange, Coinbase is obligated to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. Selfie verification is part of the KYC process and helps Coinbase fulfill its legal obligations by confirming the identity of its users.
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• Nov 23, 2021 · 3 years ago
  At BYDFi, we understand the importance of selfie verification for Coinbase users. It not only enhances the security of the platform but also builds trust among users. By verifying the identity of its users, Coinbase can create a safer environment for trading and reduce the risk of fraudulent activities. Selfie verification is a necessary step to ensure the integrity of the cryptocurrency ecosystem.
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