Is it necessary to provide SSN to trade cryptocurrencies on Robinhood?

3 answers

• May 13, 2022 · 3 years ago
  Yes, it is necessary to provide your SSN when trading cryptocurrencies on Robinhood. This is because Robinhood is a regulated financial institution and is required to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Providing your SSN helps verify your identity and ensures compliance with these regulations.
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• May 13, 2022 · 3 years ago
  Absolutely! Robinhood, like other reputable cryptocurrency exchanges, requires users to provide their SSN for security and regulatory purposes. This helps prevent fraud, money laundering, and other illegal activities. Rest assured that Robinhood takes the privacy and security of its users very seriously.
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• May 13, 2022 · 3 years ago
  While it is true that providing your SSN is necessary to trade cryptocurrencies on Robinhood, there are alternative platforms that may not require this information. For example, BYDFi is a decentralized exchange that allows users to trade cryptocurrencies without the need for providing personal information like SSN. However, it's important to note that decentralized exchanges may have different risks and limitations compared to centralized exchanges like Robinhood.
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