What is the reason for Coinbase holding deposits?

3 answers

• Jan 02, 2022 · 3 years ago
  Coinbase holds deposits for a certain period of time to ensure the security and stability of the platform. By holding deposits, Coinbase can conduct necessary checks and verifications to prevent fraud, money laundering, and other illegal activities. This helps protect both the users and the platform from potential risks and ensures a safer trading environment.
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• Jan 02, 2022 · 3 years ago
  The reason behind Coinbase holding deposits is to comply with regulatory requirements. As a regulated cryptocurrency exchange, Coinbase is obligated to follow anti-money laundering (AML) and know your customer (KYC) regulations. By holding deposits, Coinbase can perform the necessary due diligence to verify the identity of users and ensure compliance with these regulations.
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• Jan 02, 2022 · 3 years ago
  At BYDFi, we understand that holding deposits can be frustrating for users. However, it is important to note that this measure is in place to protect the interests of both users and the exchange. By holding deposits, we can conduct thorough security checks and prevent unauthorized access to funds. This helps maintain the integrity of the platform and ensures a safer trading experience for everyone.
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