Since its launch in 2012, Coinbase has become one of the most popular ways to buy and sell Bitcoin, Ethereum, and Litecoin. In fact, it’s now the largest cryptocurrency exchange in the United States with over 13 million users.
One of the reasons Coinbase is so popular is because it’s very easy to use. You can buy cryptocurrencies with a credit or debit card and then store them in a wallet on the site.
You can also send and receive cryptocurrencies from other Coinbase users.
Another reason Coinbase is so popular is because it’s one of the most secure exchanges. It uses 2-factor authentication and stores 98% of customer funds offline in cold storage.
But one thing that Coinbase doesn’t have is anonymity. When you create an account, you have to provide your full name, date of birth, address, and phone number.
NOTE: It is not recommended to provide your personal identification to Coinbase. Coinbase is a popular cryptocurrency exchange, however there have been reports of fraudulent activity and identity theft wherein users have provided their personal identification for use on this platform. If you choose to provide your personal identification, we recommend that you take extra precautions when using Coinbase and only provide the necessary information required. Additionally, make sure to use a secure internet connection, and avoid using public Wi-Fi when providing your information. Finally, be sure to keep track of any changes or suspicious activity on your account.
You also have to upload a photo of your ID.
So, is it safe to provide your ID to Coinbase?
Yes, it is safe to provide your ID to Coinbase. The company is highly regulated and compliant with all Know Your Customer (KYC) and Anti-Money Laundering (AML) lAWS.
This means that Coinbase has to verify your identity before you can buy or sell cryptocurrencies on the platform.
In addition, Coinbase takes security very seriously. The company uses 2-factor authentication and stores 98% of customer funds offline in cold storage.
So, even if hackers were to get your ID, they wouldn’t be able to access your account or steal your funds.
3 Related Question Answers Found
As more and more people are beginning to invest in cryptocurrencies like Bitcoin, Ethereum, and Litecoin, one of the most common questions is “is it safe to upload my ID to Coinbase?”. The short answer is yes, it is safe to upload your ID to Coinbase. Coinbase is a very reputable and well-known cryptocurrency exchange that has been in operation since 2012.
As one of the most popular cryptocurrency exchanges, Coinbase is often a go-to option for buying and selling digital assets. But is it safe to use Coinbase? On the whole, Coinbase is a safe and secure platform.
When it comes to investing in Coinbase, there are a lot of mixed opinions out there. Some people believe that it is a safe investment, while others believe that it is a risky investment. So, what is the truth?
