Coinbase is an excellent place to buy or sell digital currencies and has been gaining popularity as more people become interested in digital currencies.
Although Coinbase is an excellent way for new traders to start, it can often be overwhelming. With so many wallets and accounts needed, it may feel like your verification process will take forever if you're not familiar with it. This post will share information on how long coin base verification will take. Read on!
Why Should You Verify Your Coinbase Account?
You should add a verified account to your Coinbase experience for several reasons.
- Verifying your account gives you extra security. It makes it more difficult for hackers to break into your account and steal your money.
- Use the same account across multiple platforms (i.e., computer, phone, tablet).
- Receive instant deposits or funds sent directly from another user.
- You can link your bank account with Coinbase. This will allow you to deposit money into your Coinbase account using a bank transfer or debit card.
- It allows you to buy cryptocurrency with cash from various countries worldwide. You can also use it for credit cards if you don't want to link up with a bank account or debit card (although it's not required).
- Verification will allow you to access certain features on the site, such as buying and selling cryptocurrency, withdrawing funds, sending and receiving money, purchasing digital gift cards, and more.
- The verification process will allow you to use the exchange without worrying about being banned or having your account suspended. You can also be sure you cannot lose any funds using this service.
Levels Of Verification
There are three levels of verification on Coinbase, with benefits
Level 1: It involves verification of the customer's I.D. and photo. After this, they will add payment methods and make purchases with few limitations.
Level 2: Here, you can select restrictions in trades. Also, you will withdraw funds from your account, provided your account has two feature upgrades available.
Level 3: This is the highest verification level possible. It mainly targets coinbase pro or active users. Here, there is the verification of a government-issued photo I.D.
Your coinbase account might be restricted if you continue using the platform relentlessly without verification.
How To Complete Coinbase Identity Verification
Step 1: Log Into Your Account In The Mobile App
Logging into your account is easy. First, download the Coinbase app and log in with your existing email or username/password.
Click on the Limits and Features on the Home Page, then navigate to the document verification page.
Step 2: Complete Photo Id Verification
To complete this step, you must provide a government-issued photo I.D. and proof of address. If you don't have any documents proving your identity, you can use a passport or driver's license as an alternative.
- Start the I.D. verification stage in the account setting menu
- Upload a photo taken from a well-lit place with natural light.
The state-issued Id can only be submitted by those who live in the U.S. To do so,
- On your screen, Choose the I.D. type and follow the instruction.
- You will be apple to take a picture Id from both sides of the app by default.
- Th ID number in the picture must be visible
Step 3: Complete Personal Identifying Information
The next step is to complete the personal identifying information. To thoroughly verify your profile, Click on settings again and follow the instructions. The information needed includes your name, address, and other information that will verify your identity. You can submit this information via text or upload it directly into our system.
You will need to provide two forms of ID:
- A government-issued I.D. (like a driver's license or passport)
- A utility bill showing your current address
You might have to provide other documents depending on the platform's goal.
How Long Does Coinbase Verification Take?
Coinbase verification takes a few days to complete. You will receive an email notification when your account is verified, and you can use the same email address to log in to your account.
The verification process comprises several levels.
The first stage will take 15 minutes to submit the documentation, and the process will only take 3 minutes. Therefore, the total verification time will be 18 minutes. Once you have submitted your documents, receive an email from Coinbase confirming that your account has been verified.
The second verification takes about 1-2 business days. You can complete this separate process manually or by using the Coinbase mobile app. You can also check your verification status on your account page under “Verified.”
What Is The Coinbase Verification Process
Coinbase verification is a process that allows Coinbase users to use a verified account. Verified accounts are required to post on the platform and will buy and sell crypto, besides being able to trade crypto for fiat currency. In addition, the verification requires users to submit government-issued identification and proof of residence. This documentation is used to identify a user's identity, which is then verified through the public blockchain.
Why Does Coinbase Need My ID?
Coinbase needs your I.D. because it's a business. A business must comply with regulatory requirements, such as Know Your Customer (KYC) and Anti-Money Laundering (AML). As a result, Coinbase must verify people's identities to comply with these laws.
The verification process doesn't impact how you use the platform, so there's no need to worry about losing access to your funds or being declined for a transaction. However, you must also verify your identity using one of our digital wallets.
Q. Can I Withdraw Funds From Coinbase To A Bank Account Without Completing Verification?
The answer is no; you cannot withdraw funds from Coinbase to a bank account without completing verification. This is because the verification process is part of the security measures that Coinbase uses to protect its users. If you do not complete your verification, then you cannot use the platform in the future.
Q. Can I Upload A Passport Image?
You can upload two passport images in one file using the ‘Upload 2 Passports' option. This will allow you to upload each image separately or as a single file with both images in one file.
Q. Can I Verify My Account Using A United States Passport?
No. You can only verify your account using a passport from the country where you are currently living. The exception is if you are an American citizen living overseas and have applied for an extension of your non-American passport. In these cases, you may add a U.S. address book to your account even if the address does not match the address on your passport.
Q. Is Coinbase Verification Safe?
Yes, Coinbase verification is safe and secure. Every time you log into the Coinbase platform, you will be required to enter a password and two-factor authentication code that is sent via SMS or email (if enabled). The system will only allow access if these confirmations are received, so there is no risk of losing access to your funds by not following our instructions properly.
You can expect Coinbase to take at least one to two days for the company to verify and clear your payment. The timeframe depends on various factors, including the current backlog of requests submitted to the company by its customers.