Does Coinbase share your information?

For example, even if you do not reside in the United States (the “US”), your information may be shared with Coinbase, Inc. which provides global support for all Services including technical infrastructure, product development, security, compliance, fraud prevention, and customer support.

What does Coinbase do with my information?

What does Coinbase do with my information? We collect necessary information to allow our customers to use our products and services. We may also collect your data to enable certain services, improve our products, and keep you notified of new developments (based on your preferences).

Is Coinbase federally regulated?

Is Coinbase regulated? Yes. Coinbase complies with all applicable laws and regulations in each jurisdiction in which it operates. United States Coinbase, Inc., the company which operates Coinbase and GDAX in the U.S., is licensed to engage in money transmission in most U.S. jurisdictions.

Why does Coinbase require so much personal information?

The reason Coinbase and similar companies require ID verification is to comply with AML/KYC laws (Anti-Money Laundering/Know Your Customer). These laws are in place to prevent money laundering and terrorist financing, which IMO most people would support.

Is it safe to put your Social Security number on Coinbase?

It is as safe as you are smart with your security. Coinbase 2FA with Google Authenticator, with virus and malware free computer or phone and you are fine.

Who governs Coinbase?

the FCA
Coinbase Payments is an authorised electronic money institution authorised and regulated by the FCA with register number 900635.

Can the government regulate Bitcoin?

Currently, cryptocurrencies are regulated in the US by several institutions: CFTC, SEC, IRS, making it difficult to create overarching regulatory guidelines. In short, yes– Bitcoin can be regulated.

How many users does Coinbase have?

To illustrate just how big Coinbase has become, the platform claims to have signed up surplus of 30 million customers since it launched in 2012, with more than $150 billion worth of cryptocurrency assets traded along the way.

Does Coinbase use pooled funds for corporate purposes?

All custodial pooled amounts are held separate from Coinbase funds, and Coinbase will neither use these funds for its operating expenses or any other corporate purposes. To the extent U.S. customer funds are held as cash, they are maintained in pooled custodial accounts at one or more banks insured by the FDIC.

What happens if Coinbase fails?

If you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000. Even if Coinbase were to fail as a business, the funds held in the custodial bank accounts could not be claimed by Coinbase or its creditors.

Is my money insured with Coinbase?

All digital currency that Coinbase holds in its online hot storage is insured. If Coinbase were to suffer a breach of its online hot storage, the insurance policy would pay out to cover any customer funds lost as a result. This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account.