How Long Does Coinbase Verification Take?
Coinbase offers to all their users a safe cryptocurrency space to sell, trade, and purchase cryptocurrency in a secure way.
Nonetheless, the platform states that each account holder should properly verify their account on the Coinbase website in order to protect them all.
Identity verification ensures that all users that create a new Coinbase account can have a safe experience within the limits of the platform.
So, understanding how long the verification process takes is crucial for both parties.
In this article, we’ll be covering all the information you need to know about the following topics:
- How long does Coinbase verification take?;
- Why is verifying your account on Coinbase necessary;
- How to adequately verify your profile on Coinbase.
What is The Coinbase Verification Process?
During the Coinbase signup process, users must provide quick information in order to create an account.
Nonetheless, since the Coinbase app is a centralized exchange, it must comply with additional verification measures.
Why Does Coinbase Need My ID?
Know Your Customer and Anti Money-Laundering legislation are followed by Coinbase in order to be one of the best exchanges out there.
Thus, it’s worth noting that all safety measures look to prevent identity theft, debit card cloning, and illegal local currency withdrawals.
In any case, all Coinbase document verification options are there for a good reason that offers clear benefits both for users and the platform.
Pro Tip: Other exchanges, such as Binance, also have verification processes that must be followed.
Binance KYC Verification Process creates an efficient environment where each digital currency (such as Bitcoin Cash) and all crypto assets can be managed without the old same issues mentioned before.
Why Should You Verify Your Coinbase Account?
At this point, you might be wondering if completing this process is necessary.
Well, there are a few reasons why you should verify your Coinbase account ASAP.
Basically, there are three verification levels on Coinbase with a varying degree of benefits:
- Level 1: Consists on verifying your ID document with photo verification and it grants you access to adding payment methods and making purchases with small limitations;
- Level 2: This level allows you to select limits in trades and withdraw funds at your will, as long as two feature upgrades available in the account;
- Level 3: The highest verification level possible is aimed at Coinbase Pro or active Coinbase users and requires a verification of a government-issued photo ID.
On top of that, your Coinbase Account might get Restricted if you fail to complete KYC verification and continue using the platform relentlessly.
How to Complete Coinbase Identity Verification
Verifying your identity is a must, but how do you do it? Just follow these steps, and you’ll complete the process within just a few minutes.
Step 1: Log Into Your Account in the Mobile App
The easiest method for verifying your identity is by doing so on the Coinbase app on your mobile device.
On the app’s home page, tap “Limits and Features” and then go to the document verification page.
Step 2: Complete Photo ID Verification
In the account settings menu, you first need to start the ID verification stage.
Your identification card must be uploaded by taking a picture with your smartphone camera in a well-lit place with natural light.
If you have two forms of documents, pick the most recent document type you have.
You can only submit state-issued IDs if you live in the US, such as your driver license.
- Select the ID type and follow on-screen instructions;
- The app will automatically let you take a picture ID from both sides. Do so on a plain background and turn on the glare-free setting so the entire ID can be properly seen;
- Make sure to make the ID number visible in the picture, else you will have to start over the process once again.
Pro Tip: Enabling Google Authenticator on your Coinbase profile will allow you to add a next layer of protection to your account.
Google Authenticator displays a QR code that protects your private keys and personal data efficiently. You can activate this feature on Coinbase’s settings button.
Step 3: Complete Personal Identifying Information
If you want to fully verify your profile, go to settings again and follow instructions on the app.
The next stage of the process consists of giving full details of your personal information to the platform.
This includes your phone number, residential address, date of birth, legal name, and so on.
Coinbase might also ask you for other required documents depending on your goals with the platform.
If you are having trouble completing this stage, contact Coinbase support by clicking here.
How Long Does Coinbase Verification Take?
So, now the million-dollar question: how long will this take?
Considering that you might take up to 15 minutes to submit the documents, and the approval process of the first stage (ID) takes only 3 minutes, your account will be verified within just 18 minutes.
Nonetheless, the second verification level might take up to 2 business days, but this rarely happens - normally, the account is verified the same day you upload all the required information.
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Coinbase Verification FAQ
Can I Withdraw Funds from Coinbase to a Bank Account Without Completing Verification?
No, you can’t withdraw money from Coinbase to your bank account without adequately completing the verification process.
Can I Verify My Account Using a United States Passport?
Coinbase does not accept United States Passports as a valid document to verify accounts on their platform.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.