Why does Coinbase require my bank login for cryptocurrency transactions?

3 answers

• Josua RamirezJun 14, 2021 · 5 years ago
  Coinbase requires your bank login for cryptocurrency transactions in order to comply with anti-money laundering (AML) and know your customer (KYC) regulations. By linking your bank account, Coinbase can verify your identity and ensure that you are not using the platform for illicit activities. This helps to maintain the integrity of the cryptocurrency market and protect users from fraudulent transactions.
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• Muhammad Ahmad WasimJul 14, 2024 · 2 years ago
  Coinbase asks for your bank login information to establish a secure connection with your bank and facilitate the transfer of funds between your bank account and your Coinbase account. This allows you to easily deposit and withdraw funds from Coinbase without the need for additional verification steps. It also helps Coinbase to monitor and prevent fraudulent activities, ensuring the safety of your transactions.
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• Ján KupeckýOct 07, 2024 · a year ago
  When it comes to cryptocurrency transactions, security is of utmost importance. Coinbase requires your bank login information as an extra layer of security to protect your account from unauthorized access and potential fraud. By verifying your bank account, Coinbase can ensure that only you have access to your funds and prevent any unauthorized transactions. This helps to safeguard your assets and maintain the trust of users in the platform.
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