Why does Poloniex need my SSN for crypto trading purposes?

7 answers

• Prince FowzanAug 22, 2023 · 2 years ago
  Poloniex requires your SSN for crypto trading purposes to comply with regulatory requirements. As a cryptocurrency exchange, Poloniex is subject to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These regulations aim to prevent illegal activities such as money laundering and terrorist financing. By collecting your SSN, Poloniex can verify your identity and ensure that you are not involved in any illicit activities. It is generally safe to provide your SSN to reputable exchanges like Poloniex, as they have security measures in place to protect your personal information.
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• LION ALZEERApr 18, 2025 · 4 months ago
  Poloniex needs your SSN for crypto trading purposes because they are required to comply with government regulations. Cryptocurrency exchanges are under increasing scrutiny from regulators, and providing your SSN helps Poloniex meet their legal obligations. While it may seem intrusive, this requirement is designed to protect both the exchange and its users from fraudulent activities. Poloniex has implemented security measures to safeguard your personal information, so you can feel confident in providing your SSN.
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• Athanasios DolmatzisAug 26, 2022 · 3 years ago
  As a third-party, I cannot speak for Poloniex's specific policies or practices. However, it is common for cryptocurrency exchanges to request personal information, such as your SSN, to comply with regulatory requirements. These regulations are in place to prevent money laundering, fraud, and other illegal activities. It is important to research and choose reputable exchanges that prioritize the security and privacy of their users' information. If you have concerns about providing your SSN, you can reach out to Poloniex's customer support for more information.
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• Abhinandan ChoudharyJun 08, 2022 · 3 years ago
  Providing your SSN to Poloniex for crypto trading purposes is a standard practice in the industry. Many reputable exchanges, including Poloniex, require this information to comply with regulatory requirements and ensure the safety of their platform. By collecting your SSN, Poloniex can verify your identity and prevent unauthorized access to your account. It is important to remember that Poloniex has security measures in place to protect your personal information. If you have any concerns, you can reach out to Poloniex's support team for clarification.
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• Uday KiranAug 06, 2025 · 19 days ago
  Poloniex's request for your SSN is part of their effort to comply with regulatory requirements and ensure the security of their platform. While it may seem intrusive, providing your SSN is a common practice in the cryptocurrency industry. By verifying your identity, Poloniex can prevent fraudulent activities and protect their users. It is important to choose reputable exchanges like Poloniex that prioritize the privacy and security of their users' information. If you have any concerns, you can reach out to Poloniex's customer support for further clarification.
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• LsqtestNov 18, 2023 · 2 years ago
  Poloniex's requirement for your SSN is in line with industry standards and regulatory compliance. Providing your SSN helps Poloniex verify your identity and prevent fraudulent activities on their platform. While it may seem inconvenient, this measure is in place to protect the integrity of the cryptocurrency market and ensure the safety of all users. Poloniex has implemented security measures to safeguard your personal information, so you can trust that your SSN will be handled securely.
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• Uday KiranMay 22, 2023 · 2 years ago
  Poloniex's request for your SSN is a standard procedure in the cryptocurrency industry. By collecting your SSN, Poloniex can comply with regulatory requirements and prevent fraudulent activities. It is important to choose exchanges that prioritize the security and privacy of their users' information. Poloniex has implemented measures to protect your personal data, so you can feel confident in providing your SSN for crypto trading purposes.
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