Why does Coinbase require your social security number?

3 answers

• Gaurav GuptaOct 18, 2022 · 3 years ago
  Coinbase requires your social security number for identity verification purposes. This is to ensure that you are who you say you are and to prevent fraud and money laundering. It is a standard practice in the financial industry to collect this information for regulatory compliance.
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• Jonalyn PillonarApr 12, 2024 · a year ago
  The social security number requirement is part of Coinbase's Know Your Customer (KYC) process. By collecting this information, Coinbase can confirm your identity and comply with anti-money laundering (AML) regulations. This helps protect both the exchange and its users from fraudulent activities.
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• Elina AlbaresMay 02, 2022 · 3 years ago
  As a leading cryptocurrency exchange, Coinbase prioritizes security and regulatory compliance. By requiring your social security number, Coinbase can verify your identity and ensure that you are not engaging in any illegal activities. This is in line with industry standards and helps maintain a safe and trustworthy trading environment.
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