Why is Coinbase asking for verification?

3 answers

• Nov 26, 2021 · 3 years ago
  Coinbase asks for verification to comply with regulations and ensure the security of its platform. By verifying users' identities, Coinbase can prevent fraud, money laundering, and other illegal activities. Additionally, verification helps Coinbase build trust with its users and maintain a safe environment for trading cryptocurrencies.
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• Nov 26, 2021 · 3 years ago
  Coinbase requires verification because it operates as a regulated financial institution. Just like traditional banks, Coinbase must adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These regulations help prevent illegal activities and protect both Coinbase and its users from potential risks.
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• Nov 26, 2021 · 3 years ago
  As a user, you may wonder why Coinbase asks for verification. Well, the reason is simple. Coinbase wants to ensure the security and integrity of its platform. By verifying users' identities, Coinbase can create a safer environment for trading cryptocurrencies. So, don't worry, it's a necessary step to protect your funds and prevent any unauthorized access to your account.
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