Coinbase is one of the most popular and user-friendly ways to buy and sell cryptocurrencies, so it’s important that users take all the necessary measures to ensure their safety on the exchange platform. Since getting verified is a crucial part of that, how long does it take for Coinbase to verify an ID?
Coinbase takes about 2-3 minutes to verify an ID, after which it sends out an email confirmation to notify the user whether their request was successful. If the account is verified, the email will direct the user to the “Your Document” page.
While Coinbase can still be useful even without verifying your ID, getting verified is the only way you can use all of the exchange platform’s features. This will allow you to deposit and withdraw funds and trade in cryptocurrencies.
Coinbase Takes About Two to Three Minutes to Verify an ID
The Coinbase exchange platform takes only 2-3 minutes to verify an ID, after which they will send you an email notification, notifying you whether your request has been approved or not.
If the process is successful, you’ll be directed to the platform’s “Your Document” page. In case the verification is unsuccessful, the exchange will prompt you to retry the process, which can be done as soon as thirty minutes after the last verification attempt.
Why Are You Being Asked to Verify Your Identity?
Coinbase will periodically ask you toverify your identity to avoid fraud and make account-related adjustments. They will also require you to authenticate your identity to ensure that your payment information is not changed by anybody other than you.
All Identification Documents must be confirmed through the mobile app or website. That is a part of the process that keeps Coinbase on top of the most trustworthy bitcoin platforms. Also, know that the platform does not accept emailed copies of identification documents for verification purposes.
What Documents Are Needed to Complete the Coinbase ID Verification?
Depending on where you are in the world, the type of documents needed for a Coinbase identity verification will vary. If you are in the United States, you’ll only need a state-issued ID (for example Driver’s license or an Identification Card).
However, if you are located somewhere outside the US, you’ll either need a passport, a National Identity Card, or a government-issued photo ID. Keep in mind that all the documents have to be valid, as Coinbase won’t accept any expired IDs.
What Are Unaccepted Identity Documents?
When verifying your Coinbase account, you can submit different documents and wait for verification to pass. If that takes a long time, there is a chance you presented the wrong type of identification. To avoid that back and forth process, know which documents are not accepted on the Coinbase platform:
- US passports,
- Green Card (US permanent resident card) or a residence permit,
- Military IDs or Public Service cards,
- Medical IDs,
- School IDs.
What Levels of Verification Does Coinbase Have?
Coinbase offers three levels of verification to all of its users. Each of them comes with different sets of restrictions and privileges. Verifying your identity also allows you to access additional features on Coinbase, like higher purchasing limits and the ability to buy cryptocurrencies using a credit card. Overall, verifying your identity on Coinbase is a crucial step in ensuring your safety when using this platform.
|Level 1||Allows weekly sales and purchases across different payment methods|
|Level 2||Allows unlimited investments and wire transfer in and out of your account|
|Level 3||Allows you to send and receive Cryptocurrencies on the blockchain|
What Will Coinbase Do With All the Info You Give Them?
You might wonder why Coinbase needs all of your info? You don’t have to worry, though, as all that data you provided will be used for your benefit. Coinbase collects the information they need to provide their consumers with the products and services they want.
This usually refers to data collecting required by law, like when they need to comply with anti-money laundering regulations or to authenticate your identity and safeguard you from potential fraud.
What Are Some Reasons Why Verification May Take Longer Than Expected?
If you are not using Coinbase mobile app, there is a chance that you may encounter a problem verifying your account. If this happens, the simple solution is to install the app and verify by using the camera on your phone. Go to Settings > Identity Verification, and it is pretty straightforward from thereon.
On the other hand, if you have already used the app but still haven’t received a response from customer support, check the info you typed in. Ensure that the details match your ID, as all the info you provide must be free of typos. If everything is okay there and you still can’t pass the verification, it is best to contact Coinbase support.
What Can You Do to Speed up the Process of Having Your ID Verified by Coinbase?
The biggest problem people encounter when trying to verify their Coinbase account is submitting a photo of their identity document. To do it on the first try, you should ensure that the photo you submit is clear and all the data is visible.
Ensure there is no glare on your photo by using natural light. Also, you should use a plain background to put your ID on, instead of holding it with your fingers. Finally, wait at least thirty minutes between attempts (if the first one fails).
Is It Worth It to Verify Your Identity on Coinbase?
When you verify your identity, you’re providing Coinbase with additional information that can help them protect you from fraud and theft. So, yes, it is worth uploading your info because not only will you increase the safety of your funds, but you’ll also be allowed to make transactions and invest.
This verification also ensures that Coinbase remains compliant with KYC/AML requirements, which guarantees that the platform conforms with global security and safety standards. On top of that, the process is pretty straightforward, and it will take you no more than 15 minutes to finish it.