How can I buy cryptocurrencies on Coinbase without providing my social security number?

Raha bhMay 01, 2022 · 3 years ago4 answers

Is it possible to purchase cryptocurrencies on Coinbase without having to provide my social security number? I'm concerned about privacy and don't want to share such sensitive information.

Cryptocurrencies

Coinbase

Social Security Number

4 answers

May 01, 2022 · 3 years ago
Unfortunately, Coinbase requires users to provide their social security number as part of their verification process. This is to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. It is a standard practice in the cryptocurrency industry to ensure the legitimacy of users and prevent fraudulent activities. Your social security number is securely stored and not shared with third parties.
May 01, 2022 · 3 years ago
As of now, Coinbase does not offer an option to buy cryptocurrencies without providing your social security number. However, there are other cryptocurrency exchanges that may have different verification requirements. It's worth exploring alternative platforms if you're uncomfortable sharing your social security number.
May 01, 2022 · 3 years ago
At BYDFi, we understand the concerns about privacy and the need for alternative options. While we cannot speak for Coinbase, we recommend exploring decentralized exchanges (DEX) as they often provide more privacy-focused options. DEX platforms like Uniswap and SushiSwap allow users to trade cryptocurrencies without the need for extensive personal information.
May 01, 2022 · 3 years ago
I totally get your privacy concerns. Unfortunately, Coinbase is a regulated exchange and is required to follow strict KYC and AML regulations. This means providing your social security number is mandatory. However, there are peer-to-peer platforms where you can buy cryptocurrencies directly from individuals without the need for extensive verification. LocalBitcoins and Paxful are popular options for such trades.