Cryptocurrency Q&A
Why does Binance request a social security number?
Why does Binance request a social security number?
Tommaso
Tue Dec 24 2024
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6 answers
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I'm trying to understand why Binance is asking for my social security number. Is this a common practice for cryptocurrency exchanges? I'm concerned about the security of my personal information.
6 answers
Chiara
Thu Dec 26 2024
Along with identification details, contact information is also collected during the KYC process.
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SakuraDance
Thu Dec 26 2024
KYC stands for Know Your Customer, a crucial process employed by banks and various financial institutions.
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CryptoTitan
Thu Dec 26 2024
This procedure involves gathering identification data from both current and potential customers.
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SolitudeSeeker
Wed Dec 25 2024
The primary objective of KYC is to safeguard against fraudulent activities.
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KimchiQueenCharm
Wed Dec 25 2024
It also aims to prevent money laundering and other forms of illicit financial behavior.
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