Why does Webull require my SSN for cryptocurrency trading?

3 answers

• Dec 16, 2021 · 3 years ago
  The reason why Webull requires your SSN for cryptocurrency trading is to comply with Know Your Customer (KYC) regulations. These regulations are in place to prevent money laundering, fraud, and other illegal activities. By collecting your SSN, Webull can verify your identity and ensure that you are a legitimate user. This helps protect both you and the platform from potential risks.
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• Dec 16, 2021 · 3 years ago
  Webull asks for your SSN for cryptocurrency trading because it is a standard practice in the financial industry. Many other reputable exchanges and trading platforms also require users to provide their SSN for the same reason - to comply with KYC regulations. It's important to note that your personal information is kept secure and confidential by Webull, and is only used for verification purposes.
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• Dec 16, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that Webull is not the only platform that requires your SSN for cryptocurrency trading. This is a common requirement among regulated exchanges and trading platforms. The reason is simple: KYC regulations. These regulations are in place to ensure that all users are properly identified and to prevent illegal activities such as money laundering. So, while it may seem like an inconvenience, providing your SSN is necessary to comply with these regulations and to protect the integrity of the platform.
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