Why is Coinbase asking for my Social Security number?

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TL;DR- the answer is threefold: anti-money laundering, account security, and tax purposes. Technically speaking, they’re only asking for the last four of your social security number. When registering with Coinbase in the US, the exchange will prompt you to hand over your personal information.

Table Of Contents:

  1. Does Coinbase charge to sell?
  2. Is Coinbase free to use?
  3. Why does Coinbase want my address?
  4. Why is Coinbase asking for my Social Security number?How do I get my money from Coinbase?
  5. How do I get my tax from Coinbase?
  6. Why is Coinbase asking for my Social Security number?Do I have to use real name on Coinbase?
  7. Can my money be stolen from Coinbase?
  8. Does Coinbase charge to deposit money?
  9. Learn about coinbase in this video:
  10. Can I do day trading on Coinbase?
  11. Can I use my debit card on Coinbase?
  12. Is it better to use bank account or debit card on Coinbase?

Does Coinbase charge to sell?

Coinbase charges a flat 1% transaction fee on all cryptocurrency transactions.

Is Coinbase free to use?

Coinbase offers our cash and Hosted Cryptocurrency balance service free of charge, allowing you to store your cash and supported cryptocurrency at no cost.

Why does Coinbase want my address?

Policy requires that we have your name, address, and date of birth on file before you can make large transactions with your Coinbase account. For new customers, when you make a large transaction you will be prompted to complete your personal information before your trade is made.

Why is Coinbase asking for my Social Security number?How do I get my money from Coinbase?

From a web browser: From a web browser, select your cash balance under Assets. On the Cash out tab, enter the amount you want to cash out and then click Continue. Choose your cash out destination and then click Continue. Click Cash out now to complete your transfer.

How do I get my tax from Coinbase?

To download your tax reports: Sign in to your Coinbase account. Click Taxes > Documents. Select Generate Report to choose the type of report you want to generate and the specific timeframe, or Download for one of the displayed reports.

Why is Coinbase asking for my Social Security number?Do I have to use real name on Coinbase?

Per the Coinbase User Terms, we require all customers to verify their identity to continue using our service. We didn’t always require Identity Verification to sign up for Coinbase, but we now require all customers to input their information.

Can my money be stolen from Coinbase?

Coinbase customers report suspicious activity like getting text messages for 2FA codes when they aren’t trying to sign on, followed by an unauthorized or incorrect transaction. Unauthorized transactions are what happen when hackers send your funds from your Coinbase account to theirs.

Does Coinbase charge to deposit money?

Deposit Method Fee
Wire Transfer $10 ($25 outgoing)

Learn about coinbase in this video:

Can I do day trading on Coinbase?

So those wishing to trade on the platform can either buy and hold particular coins, or actively trade by buying and selling (or speculating) on price movements. The market spreads are competitive at Coinbase, making day trading and speculation possible.

Can I use my debit card on Coinbase?

Visa and MasterCard debit cards can be used to buy on Coinbase. We’re unable to support prepaid cards or other cards without an associated billing address. To learn more about how to cash out funds using your debit card please see, Instant Card Cashouts.

Is it better to use bank account or debit card on Coinbase?

That’s because Coinbase itself incurs high costs for processing these transactions using services of so called payment providers. Coinbase for example, will charge you a 3.99% fee on your purchase if you use a credit card so you’re better off using your bank account.