Why does Coinbase require your social security number?

3 answers

• Gaurav GuptaDec 06, 2021 · 4 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.
  282

  141
• Jonalyn PillonarNov 29, 2024 · 9 months 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.
  297

  99
• Elina AlbaresOct 15, 2023 · 2 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.
  337

  85