What is Identity Verification?
Coinbase uses Identity Verification in order to comply with US KYC (Know Your Customer) regulations. KYC is a way of identifying and confirming that a customer is who they say they are. It’s a multi-step process that helps to prevent the creation and use of fraudulent accounts.
What if I’m having trouble verifying my identity?
When filling out your information, make sure that your name matches your legal name on your ID and the information you provide is free of typos. Contact us if the information entered is accurate, but you still cannot pass verification.
Why am I being asked to go through Identity Verification?
As a regulated financial services company, Coinbase is required to identify the users on our platform. 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. This means any customer who signs up for Coinbase, as well as any customer who is currently on our platform who never verified their identity in the past, needs to verify their identity in order to continue using Coinbase.
How do I get started with Identity Verification?
To get started with verification, sign in to your Coinbase account and go to our verification page.
What if I don’t complete Identity Verification?
If you don’t verify your identity, your account will be restricted. Coinbase will help you in any way that we can to ensure you can verify your identity, but if you’re unwilling to complete the verifications we need, you are welcome to withdraw your funds from the platform and delete your account.
What does Coinbase do with my information?
We collect necessary information to allow our customers to use our products and services. This primarily includes data collection that is mandated by law—such as when we must comply with anti money laundering laws, or to verify your identity and protect you from potential fraudulent activity. We may also collect your data to enable certain services, improve our products, and keep you notified of new developments (based on your preferences). We do not, and will not, sell your data to third parties without your consent.
Read more about Data Privacy at Coinbase here.