Why do cryptocurrency platforms require my SSN?

5 answers

• Jan 07, 2022 · 3 years ago
  Cryptocurrency platforms require your SSN for identity verification purposes. By collecting your SSN, they can ensure that you are a real person and comply with anti-money laundering (AML) and know your customer (KYC) regulations. This helps prevent fraud, money laundering, and other illegal activities on their platforms. Your SSN is kept securely and is not shared with third parties.
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• Jan 07, 2022 · 3 years ago
  Cryptocurrency platforms need your SSN to comply with government regulations. These regulations are in place to prevent illegal activities such as money laundering, terrorist financing, and fraud. By collecting your SSN, platforms can verify your identity and ensure that you are not engaging in any illegal activities. Your SSN is stored securely and is only used for verification purposes.
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• Jan 07, 2022 · 3 years ago
  Hey there! So, the reason why cryptocurrency platforms ask for your SSN is because they need to verify your identity. It's all about security, you know? They want to make sure that you're a real person and not some shady character trying to do illegal stuff. By collecting your SSN, they can comply with regulations and prevent fraud and money laundering. Don't worry, your SSN is kept safe and won't be shared with anyone else.
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• Jan 07, 2022 · 3 years ago
  Well, let me tell you why cryptocurrency platforms require your SSN. It's all about keeping things legit and preventing illegal activities. By collecting your SSN, they can verify your identity and make sure you're not involved in any shady business. It's like a background check, you know? They want to keep their platform safe and secure for everyone. Your SSN is stored securely and is only used for verification purposes.
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• Jan 07, 2022 · 3 years ago
  As a representative of BYDFi, I can tell you that cryptocurrency platforms require your SSN for identity verification purposes. It's all about ensuring the safety and security of the platform. By collecting your SSN, we can comply with regulations and prevent fraud and illegal activities. Rest assured, your SSN is kept securely and is not shared with anyone else.
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