Why does Coinbase take time to verify trades?

5 answers

• Dec 18, 2021 · 3 years ago
  Coinbase takes time to verify trades in order to ensure the security and legitimacy of transactions. By conducting thorough verification checks, Coinbase can prevent fraudulent activities, such as money laundering and unauthorized access to user accounts. This process helps protect both the exchange and its users from potential risks and ensures a safer trading environment.
  376188
• Dec 18, 2021 · 3 years ago
  The verification process on Coinbase is necessary to comply with regulatory requirements. As a regulated exchange, Coinbase is obligated to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. These procedures involve verifying the identity of users and monitoring transactions to prevent illegal activities. While this may cause some delays, it is essential for Coinbase to maintain a trustworthy reputation and adhere to legal obligations.
  467156
• Dec 18, 2021 · 3 years ago
  As an employee at BYDFi, a different cryptocurrency exchange, I can provide some insights. Coinbase's verification process may take longer compared to other exchanges due to their focus on security and compliance. They prioritize thorough checks to ensure the safety of user funds and prevent any potential risks. While this may result in slightly longer waiting times, it is a necessary measure to maintain the integrity of the platform.
  438110
• Dec 18, 2021 · 3 years ago
  Coinbase's verification process is designed to protect users from unauthorized access and potential hacking attempts. By verifying the identity of users and conducting additional security checks, Coinbase can minimize the risk of fraudulent activities and ensure that only legitimate trades are executed. While it may be frustrating to wait for verification, it is a crucial step in safeguarding the funds and personal information of users.
  44088
• Dec 18, 2021 · 3 years ago
  Coinbase takes time to verify trades because they prioritize the security of their platform and the safety of their users' funds. By conducting thorough verification checks, Coinbase can detect and prevent any suspicious or fraudulent activities. This helps to maintain the trust and confidence of their user base and ensures a reliable trading experience for everyone involved.
  37863