How does Poloniex's SSN requirement relate to digital currency transactions?

7 answers

• Michael KalogeropoulosJul 19, 2025 · a month ago
  Poloniex requires your SSN for digital currency transactions in order to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This requirement helps to prevent fraud, money laundering, and other illegal activities in the cryptocurrency space. By verifying your identity through your SSN, Poloniex aims to create a safer and more transparent trading environment for its users. While providing your SSN may raise concerns about privacy, Poloniex takes measures to protect your personal information and ensures that it is handled securely.
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• TATHAGAT KUMARAug 31, 2021 · 4 years ago
  Poloniex's SSN requirement is a necessary step to ensure the legitimacy and legality of digital currency transactions. By collecting your SSN, Poloniex can verify your identity and comply with regulatory requirements. This helps to prevent unauthorized access to your account and protects you from potential fraud. While some users may be concerned about sharing their SSN, Poloniex has implemented strict security measures to safeguard your personal information.
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• Pauli StarkerJun 17, 2020 · 5 years ago
  As a representative from BYDFi, I can tell you that Poloniex's SSN requirement is in line with industry standards. Many reputable cryptocurrency exchanges have similar KYC and AML procedures in place to ensure the security and legality of transactions. By collecting your SSN, Poloniex can verify your identity and comply with regulatory requirements. This helps to protect both the exchange and its users from fraudulent activities. While sharing your SSN may seem intrusive, it is a necessary step to maintain the integrity of the digital currency ecosystem.
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• Bear3StonesFeb 12, 2024 · 2 years ago
  Poloniex's SSN requirement is a standard practice in the cryptocurrency industry. It is designed to prevent money laundering, terrorist financing, and other illegal activities. By collecting your SSN, Poloniex can verify your identity and ensure that you are not engaging in any illicit transactions. While some users may find this requirement inconvenient, it is necessary to maintain the integrity and security of the digital currency market.
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• Niya JamesFeb 22, 2022 · 4 years ago
  Poloniex's SSN requirement is part of their commitment to regulatory compliance. By collecting your SSN, Poloniex can verify your identity and ensure that you are not involved in any illegal activities. This requirement helps to protect the exchange and its users from potential risks and maintains the overall security of the digital currency ecosystem. While sharing your SSN may raise privacy concerns, Poloniex takes the necessary precautions to protect your personal information.
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• bannyFeb 13, 2023 · 3 years ago
  Poloniex's SSN requirement is a precautionary measure to prevent fraud and ensure the security of digital currency transactions. By collecting your SSN, Poloniex can verify your identity and protect your account from unauthorized access. This requirement is in line with industry standards and helps to create a safer trading environment for all users. While some may have concerns about privacy, Poloniex has implemented robust security measures to safeguard your personal information.
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• Jim RensAug 15, 2020 · 5 years ago
  Poloniex's SSN requirement is a necessary step to comply with regulatory standards and prevent illegal activities in the digital currency space. By collecting your SSN, Poloniex can verify your identity and ensure that you are not involved in any fraudulent or illicit transactions. This requirement helps to protect the exchange and its users from potential risks and maintains the overall integrity of the cryptocurrency market. While sharing your SSN may raise privacy concerns, Poloniex has implemented stringent security measures to protect your personal information.
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