Why is Poloniex asking for my social security number?

3 answers

• jewelrugsApr 24, 2024 · a year ago
  Poloniex asks for your social security number as part of their Know Your Customer (KYC) process. This is a standard procedure followed by many cryptocurrency exchanges to verify the identity of their users and comply with anti-money laundering (AML) regulations. Providing your social security number helps Poloniex ensure that you are a legitimate user and not involved in any illegal activities.
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• Sajal SharmaJul 27, 2024 · a year ago
  Poloniex requires your social security number to enhance the security of their platform. By collecting this information, they can better protect your account from unauthorized access and potential fraud. It also helps them prevent the creation of multiple accounts by the same individual, which can be used for malicious purposes.
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• Naidu GiirdharFeb 23, 2025 · 6 months ago
  As a third-party cryptocurrency exchange, BYDFi is not directly involved in the decision of Poloniex to ask for your social security number. However, it is common for exchanges to request this information as part of their compliance with regulatory requirements. Providing your social security number helps ensure a safer and more secure trading environment for all users.
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