What are the differences between traditional w-9 forms and digital w-9 in the context of cryptocurrency?

3 answers

• Nov 23, 2021 · 3 years ago
  Traditional W-9 forms and digital W-9 forms differ in the way they are filled out and submitted. Traditional W-9 forms are typically physical paper forms that require manual completion and signature. They are then mailed or faxed to the relevant party. On the other hand, digital W-9 forms can be completed electronically using online platforms or software. The information is entered digitally and can be submitted via email or through an online portal. This digital process offers convenience and efficiency, especially in the fast-paced world of cryptocurrency.
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• Nov 23, 2021 · 3 years ago
  When it comes to security, digital W-9 forms offer advantages over their traditional counterparts. Digital forms can be encrypted and password-protected, ensuring that sensitive information remains secure. Additionally, digital forms can be stored electronically, reducing the risk of physical loss or damage. However, it is important to choose a reputable platform or software provider to ensure the security of the digital submission.
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• Nov 23, 2021 · 3 years ago
  At BYDFi, a leading cryptocurrency exchange, we have implemented a digital W-9 form submission process. Our users can easily complete the form online, providing the necessary information for tax purposes. This digital approach streamlines the onboarding process and allows for efficient compliance with regulatory requirements. It's just one of the ways we strive to provide a user-friendly experience for our customers.
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