Why does Coinbase limit my daily purchase to $1000 for digital currencies?

3 answers

• Jan 05, 2022 · 3 years ago
  Coinbase limits daily purchases to $1000 for digital currencies as a security measure. By setting a limit, they can help prevent potential fraud or unauthorized transactions. This limit ensures that even if someone gains unauthorized access to your account, they won't be able to make large purchases without your knowledge. It's a way to protect your funds and maintain the security of your account.
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• Jan 05, 2022 · 3 years ago
  The daily purchase limit of $1000 on Coinbase is also in place to comply with regulatory requirements. As a regulated cryptocurrency exchange, Coinbase has to adhere to certain rules and regulations to prevent money laundering and ensure the safety of its users. By implementing a purchase limit, Coinbase can better monitor and track transactions, which helps them stay compliant with these regulations.
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• Jan 05, 2022 · 3 years ago
  While Coinbase has a daily purchase limit of $1000, other exchanges may have different limits or no limits at all. For example, BYDFi, another popular cryptocurrency exchange, doesn't have a daily purchase limit. However, it's important to note that different exchanges have different security measures and risk management strategies. Coinbase's limit is designed to strike a balance between user convenience and security.
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