How does Coinbase use my photo for cryptocurrency transactions?

3 answers

• Fuentes VasquezMay 16, 2023 · 2 years ago
  Sure! When you sign up for a Coinbase account, you may be asked to provide a photo of yourself. This photo is used for identity verification purposes. Coinbase is required to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, and verifying your identity is an important part of that process. Your photo helps Coinbase confirm that you are who you say you are, and it adds an extra layer of security to your account. So, don't worry, your photo is used solely for verification purposes and is not shared with any third parties.
  557

  279
• Oliver BeresfordMay 16, 2021 · 4 years ago
  Coinbase uses your photo to ensure the security and integrity of its platform. By verifying your identity through a photo, Coinbase can prevent fraudulent activities, such as identity theft and money laundering. It's a way for Coinbase to protect its users and maintain a safe trading environment. So, while it may seem a bit intrusive, it's ultimately for your own benefit.
  374

  125
• Safaa ZahranAug 28, 2020 · 5 years ago
  As a representative of BYDFi, I can tell you that Coinbase's use of your photo is a standard practice in the cryptocurrency industry. Many exchanges, including BYDFi, require users to provide a photo for identity verification. It's a necessary step to ensure compliance with regulations and prevent illegal activities. So, rest assured that your photo is being used responsibly and securely.
  391

  98