Is it necessary to go through an identity verification process on Coinbase to trade cryptocurrencies?

3 answers

• Dec 16, 2021 · 3 years ago
  Coinbase requires users to go through an identity verification process in order to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This helps ensure the legitimacy of transactions and prevents illegal activities such as money laundering and fraud. By verifying the identity of users, Coinbase aims to create a safe and secure trading environment for its customers.
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• Dec 16, 2021 · 3 years ago
  Yes, it is necessary to go through an identity verification process on Coinbase. This is a standard practice in the cryptocurrency industry to prevent fraud, money laundering, and other illegal activities. By verifying the identity of users, Coinbase can ensure the security of its platform and protect its users from potential risks.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we understand the importance of identity verification in the cryptocurrency industry. It is necessary for users to go through this process on Coinbase to comply with regulatory requirements and maintain a secure trading environment. Identity verification helps prevent unauthorized access to user accounts and protects against fraudulent activities. It is a crucial step in ensuring the safety of both the platform and its users.
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