- Joined
- Oct 7, 2003
- Messages
- 2,635
How many of you guys have uploaded your ID to Coinbase / GDAX? I'm torn on if I trust them to keep my DL forever...But I really want to play with GDAX!
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Coinbase / GDAX ID requirement
- Thread starter Erebus
- Start date
I dunno. A few minutes ago, Coinbase verified my ID without any such upload.
Was asked several uncomfortable automated questions, but spared the glove.
Maybe its coming later, when I least expect it...
If you select your bank from menu, Coinbase will demand your bank account
password. Select "Other Bank", and just give them the routing numbers. May
be 2 days slower, but hell if I am giving them any more access than required.
Havn't gotten around to GDAX signup yet. But the fees on GDAX supposedly
less for similar service. Both are same company I heard, but have to setup on
Coinbase first. I didn't catch the full explanation of why it works like that...
I opened a CapitalOne 360 account to dump my minings. No experience yet
to say if that was a brilliant move or huge mistake. My reasons were no fees
or minimums for doing mostly nothing, and also no fee for incoming wire
transfer. I noticed others (Woodforest) charging upwards of $25 bucks???
Not that I plan to wire very often, but if I ever need to cash out in a hurry...
And I wanted Mastercard Debit, since I already hold a Visa Debit. Sucks
when you only hold one bank card and it gets hacked. Without plastic for
three days waiting on replacement. Now my eggs aren't all in one masher.
Was asked several uncomfortable automated questions, but spared the glove.
Maybe its coming later, when I least expect it...
If you select your bank from menu, Coinbase will demand your bank account
password. Select "Other Bank", and just give them the routing numbers. May
be 2 days slower, but hell if I am giving them any more access than required.
Havn't gotten around to GDAX signup yet. But the fees on GDAX supposedly
less for similar service. Both are same company I heard, but have to setup on
Coinbase first. I didn't catch the full explanation of why it works like that...
I opened a CapitalOne 360 account to dump my minings. No experience yet
to say if that was a brilliant move or huge mistake. My reasons were no fees
or minimums for doing mostly nothing, and also no fee for incoming wire
transfer. I noticed others (Woodforest) charging upwards of $25 bucks???
Not that I plan to wire very often, but if I ever need to cash out in a hurry...
And I wanted Mastercard Debit, since I already hold a Visa Debit. Sucks
when you only hold one bank card and it gets hacked. Without plastic for
three days waiting on replacement. Now my eggs aren't all in one masher.
Last edited:
Any exchange in the US (and many other countries) is required to verify the identity of those trading on it for compliance with anti-money laundering, know your customer and other laws. It's no different than opening a bank or brokerage account. So if you want to buy/sell/trade crypto that results in a conversion to fiat, you've got to give it up.
GDAX is owned by Coinbase and it's essentially a single sign on service between the two sides of the house. I believe just answer a few questions and agree to a few more things to gain access to the GDAX side. Fees are zero on GDAX if you're a market maker (meaning, you place limit orders), but still fairly low if you're a market taker....
GDAX is owned by Coinbase and it's essentially a single sign on service between the two sides of the house. I believe just answer a few questions and agree to a few more things to gain access to the GDAX side. Fees are zero on GDAX if you're a market maker (meaning, you place limit orders), but still fairly low if you're a market taker....
- Joined
- Oct 7, 2003
- Messages
- 2,635
I didn't have to upload my ID until I went to sign up for GDAX; CoinBase itself didn't ask for it unless I want to increase my limits further. I know they have to ask because of KYC/AML laws, but at the same time they state they will keep anything you give them "for at least 5 years" ie forever...so that means you have to trust them not to get hacked for the rest of your life...But I guess you have to do the same with banks