Why is it necessary to verify identity on Coinbase?

3 answers

• Claes NorreenOct 15, 2024 · 10 months ago
  Identity verification is necessary on Coinbase to comply with regulatory requirements and ensure the security of the platform. By verifying the identity of users, Coinbase can prevent fraud, money laundering, and other illegal activities. It also helps to create a trusted environment for users to buy, sell, and store cryptocurrencies.
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• Mendez LancasterJul 28, 2023 · 2 years ago
  Coinbase requires identity verification to protect its users and maintain the integrity of the platform. Verifying identity helps to prevent unauthorized access to accounts and ensures that only legitimate users can transact on the platform. It adds an extra layer of security and reduces the risk of account hacking or theft.
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• Siddharth YellurFeb 27, 2022 · 4 years ago
  At BYDFi, we understand the importance of identity verification in the cryptocurrency industry. It helps to establish trust between users and the platform, and ensures compliance with regulatory standards. By verifying identity, we can provide a secure and reliable trading environment for our users, protecting them from potential risks and fraudulent activities.
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