Coinbase, Exchanges

Is It Safe to Provide ID to Coinbase?

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.

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.

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