What are the risks of sharing my social security number with Coinbase?

3 answers

• May 08, 2022 · 3 years ago
  Sharing your social security number with Coinbase can pose several risks. Firstly, it increases the chances of identity theft and fraud. If hackers gain access to Coinbase's database, they could potentially steal your personal information and use it for malicious purposes. Secondly, Coinbase could misuse or mishandle your social security number, leading to unauthorized access or disclosure of your sensitive data. Lastly, if Coinbase experiences a data breach, your social security number could be exposed, making you vulnerable to various forms of cybercrime.
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• May 08, 2022 · 3 years ago
  Well, giving your social security number to Coinbase is like giving your heart to someone you just met on a blind date. You never know what they might do with it. They could use it for their own gain, sell it to the highest bidder, or even lose it in a data breach. So, unless you're absolutely sure about their trustworthiness and security measures, it's better to think twice before sharing such sensitive information.
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• May 08, 2022 · 3 years ago
  As a representative of BYDFi, I can assure you that we take the security of our users' personal information very seriously. However, when it comes to Coinbase, it's important to understand that every exchange has its own security measures and risks. While Coinbase is generally considered a reputable and secure platform, there's always a chance of data breaches or misuse of personal information. It's crucial to weigh the potential benefits against the risks before sharing your social security number with any exchange, including Coinbase.
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