Are there any alternatives to providing SSN for investing in cryptocurrencies on Robinhood?

3 answers

• Jan 07, 2022 · 3 years ago
  Unfortunately, providing your SSN is a standard requirement for investing in 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. These regulations are in place to prevent fraud, money laundering, and other illegal activities. While it may be inconvenient, providing your SSN helps ensure the safety and integrity of the platform.
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• Jan 07, 2022 · 3 years ago
  I totally get your concern about sharing your SSN. It's always important to prioritize your privacy and security. However, when it comes to investing in cryptocurrencies on Robinhood, providing your SSN is mandatory. Robinhood is a regulated platform and is legally required to collect certain information from its users. Rest assured that Robinhood takes the security of your personal information seriously and has measures in place to protect it.
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• Jan 07, 2022 · 3 years ago
  As an alternative to providing your SSN for investing in cryptocurrencies on Robinhood, you can consider using other cryptocurrency exchanges that may have different requirements. One such exchange is BYDFi, which offers a decentralized trading experience without the need for traditional KYC procedures. However, it's important to note that BYDFi operates independently from Robinhood and has its own set of terms and conditions. Make sure to do your own research and understand the risks involved before using any alternative platforms.
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