Does Kraken require full SSN?

Kraken is a U.S.-based crypto exchange that was founded in 2011 and offers 50+ tokens. Except for Starter accounts, employment information and SSN for U.S. customers are also required.

Is it safe to give Coinbase last 4 digits of SSN?

In my opinion, yes, it is safe to give Coinbase your social security number. You must consider that opening an account at Coinbase actually is no different than opening a bank account. They must have your tax id for the purpose of reporting to the IRS.

Does Coinbase require full Social Security number?

Coinbase is easy to set up but requires some information, including your legal name, home address, date of birth, last four digits of your Social Security number and how you plan to use Coinbase. That’s to comply with federal regulations.

Why does Coinbase want ID?

Coinbase uses Identity Verification in order to comply with 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.

Is it safe to give Gemini my SSN?

As a New York trust company, Gemini is required by law to collect your SSN/SIN to comply with the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations. To learn more about how we safely and securely store this information, please refer to our Security page.

Why does Gemini need SSN?

Is Kraken as safe as Coinbase?

Kraken stores 95\% of its assets in guarded air-gapped cold storage and has strict surveillance across the entire platform and multiple checkpoints throughout the signup process. Coinbase keeps 98\% of deposits in offline, geographically distributed cold storage.

Why is Coinbase asking for the last 4 digits of my social?

The reason Coinbase is asking for the last 4 digits of your social, and likely a photo ID, is because they want to confirm your identity in compliance with something called Know Your Customer or KYC laws, which are a part of Anti Money Laundering laws.

Does Coinbase need Your Social Security number to open an account?

Coinbase does require that you provide your Social Security number to them when opening an account on their platform. They use your SS# for several reasons such as checking your background information, tax reporting purposes as well as to comply with anti- money laundering laws of the United States.

What do I need to register a Kraken account?

In order to be eligible to register a Kraken account and use our services, you must: To get started trading, we only ask a few things for the Starter or Express verification level. The Intermediate and Pro levels are like opening a bank account and require supporting documents. Click here to find out what you can do with each verification level.

Is Kraken a good cryptocurrency exchange?

Today with 20 cryptocurrencies and 76 crypto-crypto/fiat pairs currently traded, Kraken has grown into a full-fledged cryptocurrency exchange. Investors now have many more exchanges to choose from, though, including regulated exchanges. But Kraken can make a claim few others can – the exchange has never been hacked.

https://www.youtube.com/watch?v=baf2dK3IZJ4