Why does Coinbase require photo ID for account verification?

3 answers

• Faina IvanovaMay 19, 2024 · a year ago
  Coinbase requires a photo ID for account verification to ensure the security and integrity of their platform. By verifying the identity of their users, Coinbase can prevent fraud, money laundering, and other illegal activities. Additionally, it helps Coinbase comply with regulatory requirements and maintain a trusted relationship with financial institutions.
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• gerardo caballeroJun 25, 2024 · a year ago
  Coinbase asks for a photo ID during account verification because it is a standard practice in the financial industry. By verifying the identity of their users, Coinbase can protect against identity theft and unauthorized account access. It also helps them comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
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• G1nphyNov 19, 2022 · 3 years ago
  As a leading cryptocurrency exchange, Coinbase takes the security of its platform and users very seriously. Requiring a photo ID for account verification is a necessary step to prevent fraudulent activities and ensure the safety of user funds. It is a common practice in the industry and helps Coinbase maintain a high level of trust and security.
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