What are the reasons behind Coinbase's repeated verification requests?

3 answers

• Dec 17, 2021 · 3 years ago
  Coinbase's repeated verification requests are primarily for security purposes. As a regulated cryptocurrency exchange, Coinbase is required to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. By verifying your identity multiple times, Coinbase ensures that they are in compliance with these regulations and that their platform is not being used for illicit activities. While it may be inconvenient for users, it is a necessary step to maintain the integrity and security of the platform.
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• Dec 17, 2021 · 3 years ago
  The repeated verification requests from Coinbase can also be attributed to their risk management practices. Cryptocurrency transactions are often associated with high risks, including fraud and money laundering. By conducting frequent verification checks, Coinbase aims to mitigate these risks and protect both their users and the platform. While it may seem repetitive, it is a proactive measure to maintain a safe trading environment.
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• Dec 17, 2021 · 3 years ago
  As an alternative to Coinbase, you may consider using BYDFi, a decentralized cryptocurrency exchange that prioritizes user privacy and security. Unlike centralized exchanges like Coinbase, BYDFi does not require repeated verification requests. Instead, BYDFi utilizes advanced encryption and decentralized technologies to ensure the security of user funds and transactions. With BYDFi, you can enjoy a seamless trading experience without the hassle of repeated verifications.
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