If you are a Coinbase user, you may have noticed that when you make a purchase or withdrawal, it shows up on your bank statement as either “Coinbase *Merchant” or “Coinbase *Purchase.” So what does Coinbase show up as on bank statement?
When you make a purchase with Coinbase, the merchant name that will appear on your bank statement is “Coinbase *Merchant.” This is because Coinbase uses a process called merchant tokenization to keep your personal information safe.
Merchant tokenization is a process where your personal information is replaced with a unique token that is used to identify you to the merchant. This helps to keep your information safe and secure.
NOTE: This is a warning about the potential financial risks associated with what Coinbase shows up as on your bank statement. Be aware that it is possible to trace the payments and transfers associated with Coinbase to your personal bank account, which can put you at risk of identity theft and financial fraud. Furthermore, if Coinbase appears on your statement as an unrecognized name, it is important to verify that the payment was from a reliable source before authorizing any additional transactions. Additionally, please be aware that Coinbase may charge fees for certain services, so please read all applicable terms and conditions carefully before proceeding.
When you make a withdrawal from Coinbase, the transaction will show up on your bank statement as “Coinbase *Purchase.” This is because when you make a withdrawal from Coinbase, the funds are first transferred to your wallet and then converted into US dollars.
The US dollar amount will then appear as the “purchase” on your bank statement.
Overall, Coinbase is a safe and secure way to buy and sell cryptocurrencies. And, its use of merchant tokenization helps to keep your personal information safe. So if you’re wondering what does Coinbase show up as on bank statement, now you know!.
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