There is no investment without risks, so is the case with cryptocurrencies. If you are interested in cryptocurrencies, you must know about this Coinbase, a cryptocurrency exchange where you can buy popular coins like Bitcoin, Ethereum, and Solana.
Though the exchange does not support every coin, you may still find more than 120 different types of cryptocurrencies on the platform. Meanwhile, there are thousands of different cryptocurrencies available worldwide. Still, the decentralized exchange lets you trade the most popular types of crypto, so it works well for most purposes.
Considering its wide acceptance, to eliminate the potency of risks for its millions of users, Coinbase has launched an ID verification system. The exchange has added this step to provide a security layer to your assets. However, many wish to avoid this process and access or view their cryptocurrencies. For that, a lot of people look for ways to bypass ID verification.
Well, a lot of people may attempt different ways to know how to bypass Coinbase ID verification. But, is there really a way to do so? Is it really worth it? Let’s find out in this article! But before jumping into this, you must abreast yourself with the know-how of this exchange.
What is Coinbase?
It is an online exchange that allows people to buy, sell and trade numerous types of cryptocurrencies. Founded in 2012, this exchange did for crypto trading what Ford did for automobiles: it didn’t invent its products, but rather made them accessible to the general public. Besides offering its trading platform, the company bears services that include crypto wallets, moneylending, staking, earn-by-learning promotions, a pro platform with sophisticated metrics and graphing, and crypto tax forms that the IRS requires.
How To Get Started With Coinbase?
Opening an account is easy, it’s the ID verification that can demand patience. But before reaching that phase, you must know what’s needed to get started with the exchange. Here are the requirements to create an account:
- You must be at least 18 years old
- A government-issued photo ID, such as a driver’s license or state ID
- A computer or smartphone with internet access
- A phone number for SMS verification
- The latest version of your internet browser
If none of this is a problem, you’re ready to create an account. To do so, enter your first and last name, email, state of residence, and create a password. You’ll also have to check the box confirming you are at least 18 years old. The only thing left to do after that is to set a password. Be sure to set a strong, unique password to keep your account safe.
How Do I Bypass Coinbase ID Verification?
You cannot bypass ID verification because it adds a layer of safety to your account and prevents any fraudulent activity. If you have doubts about whether it is safe to share your ID with the
platform, or it pops into your mind, ‘why does Coinbase need my ID’ then be assured, because it is known as a secure and trusted exchange platform. The exchange does not share your details with any third party.
It may be possible that the platform locks your account to complete ID verification. So, unfortunately, there is no way to bypass the Coinbase ID verification restriction so you might have to wait for 24 hours and try again. You must be aware that It is not possible to enjoy the services of the trading platform without ID verification.
How To Verify Coinbase Account?
To prevent fraud and to make any account-related changes, the trading platform will ask you to verify your identity more often. The crypto platform uses Identity Verification in order to comply with KYC (Know Your Customer) regulations. KYC is a way of identifying and confirming the authenticity of the customer. It’s a multi-step process that helps to prevent the creation and use of fraudulent accounts. It is also important to verify your identity to ensure no one but you change and have access to your payment information.
If you wonder, ‘how to verify Coinbase account’, you must follow the following criteria:
Accepted Identity Documents
- In the United States, you must have State-issued IDs such as a Driver License or Identification Card
- Outside of United States, you must have
- Government-issued photo ID
- National Identity Card
Unaccepted identity documents
- United States Passports
- United States Permanent Resident Card (Green Card)
- School IDs
- Medical IDs
- Temporary (paper) IDs
- Residence Permit
- Public Services Card
- Military IDs
While we are discussing this issue, you must know that Coinbase Pro (previously known as gdax) has a similar process, hence it is not possible to bypass its verification as well. So if your gdax identity verification failed, you might have to find similar solutions.
Why Is Coinbase Asking To Verify Identity Again?
The crypto exchange generally asks you to verify your identity again when you have provided the wrong information. You may consider it the part of preventing fraudulent activities from your account. In order to exceed the steady ID verification, please make sure that your personal information is entered exactly as it appears on your government-issued ID.
If you have made changes to your personal information, then your ID document must also reflect these changes. Suppose you have changed your legal name and changed it on your account, then it must reflect on your government-issued ID as well. If the provided personal information on your ID and account match, however, Coinbase can’t verify the information, please contact the help center. It will review your account and find the solution so that we can complete an account review.
Why Coinbase Keeps Asking To Verify Identity?
The trading platform is where customers trade cryptocurrencies. Therefore, to maintain your security, the platform keeps asking to verify your identity. It’s a mandatory step of the process and no one can skip this. So, your account requires KYC’s verification and AML. Let’s discuss why ID verification is important.
- Know Your Customer (KYC)
In the digital world, investors have to verify their identity before investing in stocks. It helps the digital platform to know and verify the identity of a customer. Moreover, it helps the exchange platform verify your information with your ID proof.
- Fraud Prevention
Why Coinbase keeps asking to verify identity? Fraud prevention is your answer. Hackers or scammers can whip your digital assets through illegal practices. All users’ ID verification is a very important process to prevent these fraud activities. This is another reason why you cannot bypass ID verification.
Prevention Of Multiple Accounts
Sometimes, neither users are able to verify their identity on the platform nor to use the exchange platform to trade in cryptos. Even in these scenarios, you cannot bypass the verification, though we can help you to troubleshoot the ID verification-related issues.
If you wonder why Coinbase won’t verify my ID? Here are your answers! Your only task is to make sure you enter the correct details during the signing up process. Keep the following guidelines in mind while you create an account and apply for ID verification.
- When you upload your ID to verify your information, sometimes the system is unable to upload your ID due to connection or server problems. In this case, you should wait for around 15-20 minutes and then upload your ID to verify.
- If you try to upload your ID, but your account is blocked for 24 hours. However you still can’t access your account after 24 hours. Why does that happen? As mentioned earlier as well, you might have provided the information that doesn’t match with details printed on your ID. You can try again after 24 hours and make sure the details you entered manually and mentioned on your ID are the same.
Coinbase is one of the oldest and most famous exchanges allowing customers to trade in cryptos. Hence, for customers’ assets security and its own market reputation, identity verification is crucial but an important part of the process. Though you can create an account and visit the marketplace, bypassing the ID verification is impossible.
The crypto exchange does not compromise on these regulations for many other reasons mentioned in this article. So, if you do not verify your identity, you will not be able to enjoy the services on its exchange platform. Furthermore, your account will get restricted, you will not be able to trade, buy or sell cryptocurrencies on the platform. Hence, ‘how to bypass the Coinbase ID verification’ is the question that you must throw out of the window.