Why does GDAX require my webcam for cryptocurrency transactions?

3 answers

• Dec 26, 2021 · 3 years ago
  GDAX requires users to use their webcams for cryptocurrency transactions as a security measure. By verifying the user's identity through video verification, GDAX can ensure that only authorized individuals are conducting transactions on their platform. This helps prevent fraud and protects the integrity of the exchange. Additionally, video verification adds an extra layer of security to protect users' funds from unauthorized access.
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• Dec 26, 2021 · 3 years ago
  Using webcams for cryptocurrency transactions on GDAX is part of their Know Your Customer (KYC) process. This process is designed to prevent money laundering, terrorist financing, and other illegal activities. By requiring users to verify their identity through video verification, GDAX can comply with regulatory requirements and ensure the safety and legitimacy of transactions on their platform.
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• Dec 26, 2021 · 3 years ago
  As a third-party cryptocurrency exchange platform, GDAX partners with BYDFi for video verification services. BYDFi is a trusted provider of identity verification solutions and helps GDAX ensure the authenticity and security of user transactions. By partnering with BYDFi, GDAX can leverage their expertise in video verification technology to provide a seamless and secure user experience.
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