How does Coinbase handle SSN verification for cryptocurrency transactions?

3 answers

• Jan 07, 2022 · 3 years ago
  Coinbase uses SSN verification to ensure compliance with regulatory requirements and prevent fraud. When you sign up for an account, you'll be asked to provide your SSN. Coinbase then verifies your SSN by cross-referencing it with public records and databases. This helps them confirm your identity and comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Rest assured, Coinbase takes the security of your personal information seriously and has measures in place to protect it.
  506253
• Jan 07, 2022 · 3 years ago
  Coinbase's SSN verification process is a standard procedure used by many financial institutions. It helps them verify the identity of their users and prevent unauthorized access to accounts. By requiring SSN verification, Coinbase can ensure that only legitimate users are able to transact on their platform. This adds an extra layer of security and helps protect both the users and the platform from fraudulent activities.
  423141
• Jan 07, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that Coinbase's SSN verification process is an industry standard. It's a necessary step to comply with regulatory requirements and prevent money laundering and other illegal activities. By verifying your SSN, Coinbase can ensure that you are a real person and not a bot or a scammer. This helps protect the integrity of the platform and provides a safer environment for users to trade cryptocurrencies.
  462116