How does GDAX use Social Security Numbers for cryptocurrency trading?
KAVI SHANTHINI G CSEDec 25, 2021 · 3 years ago3 answers
Can you explain how GDAX utilizes Social Security Numbers (SSNs) for cryptocurrency trading? What is the purpose of collecting SSNs and how are they used in the trading process?
3 answers
- Dec 25, 2021 · 3 years agoGDAX requires users to provide their Social Security Numbers (SSNs) as part of the account verification process. This is done to comply with anti-money laundering (AML) and know your customer (KYC) regulations. SSNs are used to verify the identity of the user and ensure that they are not involved in any illegal activities. GDAX takes user privacy and security seriously and has strict measures in place to protect sensitive information.
- Dec 25, 2021 · 3 years agoWhen you sign up for a GDAX account, you'll be asked to provide your Social Security Number (SSN). This is a standard procedure for most cryptocurrency exchanges, as they are required to comply with regulations aimed at preventing money laundering and other illegal activities. Your SSN is used to verify your identity and ensure that you are not engaging in any illicit activities. Rest assured that GDAX has implemented robust security measures to protect your personal information.
- Dec 25, 2021 · 3 years agoGDAX, like many other cryptocurrency exchanges, collects Social Security Numbers (SSNs) to comply with regulatory requirements. SSNs are used to verify the identity of users and prevent fraud and illegal activities. It's important to note that GDAX takes user privacy seriously and has implemented strong security measures to safeguard sensitive information. If you have any concerns about providing your SSN, you can reach out to GDAX's customer support for further clarification.
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