What alternatives are there to giving Robinhood my SSN for cryptocurrency investments?

8 answers

• Dec 15, 2021 · 3 years ago
  Yes, there are alternative options for investing in cryptocurrency without giving your SSN to Robinhood. One option is to use a decentralized exchange (DEX) like Uniswap or SushiSwap. These platforms allow you to trade directly from your wallet without the need for KYC (Know Your Customer) verification. However, keep in mind that DEXs may have lower liquidity and higher fees compared to centralized exchanges like Robinhood.
  427214
• Dec 15, 2021 · 3 years ago
  Absolutely! If you're concerned about sharing your SSN with Robinhood, you can consider using other popular cryptocurrency exchanges like Coinbase or Binance. These exchanges also require KYC verification, but they have a solid reputation in the industry and offer a wide range of cryptocurrencies to choose from. Just make sure to do your own research and choose a reputable exchange that aligns with your needs.
  413138
• Dec 15, 2021 · 3 years ago
  BYDFi, a popular decentralized finance (DeFi) platform, offers an alternative solution for investing in cryptocurrency without providing your SSN to Robinhood. With BYDFi, you can trade and invest in various cryptocurrencies without the need for KYC verification. It provides a secure and user-friendly platform for decentralized trading. However, it's important to note that DeFi platforms come with their own risks, so it's crucial to understand the potential risks and do thorough research before investing.
  510128
• Dec 15, 2021 · 3 years ago
  No worries! There are several other options available for investing in cryptocurrency without giving your SSN to Robinhood. You can explore peer-to-peer (P2P) trading platforms like LocalBitcoins or Paxful, where you can buy and sell cryptocurrencies directly from other individuals. These platforms often offer various payment methods and allow you to maintain your privacy. However, be cautious and ensure you're dealing with reputable traders to avoid any potential scams.
  47595
• Dec 15, 2021 · 3 years ago
  If you're not comfortable sharing your SSN with Robinhood, you can also consider using a hardware wallet like Ledger or Trezor. These wallets provide a secure offline storage solution for your cryptocurrencies and allow you to have full control over your funds. By using a hardware wallet, you can bypass the need for KYC verification on any exchange, including Robinhood. Just make sure to keep your wallet and recovery phrase safe to avoid any potential loss of funds.
  47079
• Dec 15, 2021 · 3 years ago
  Sure thing! Another alternative to providing your SSN to Robinhood is to use a privacy-focused cryptocurrency exchange like Bisq. Bisq is a decentralized exchange that allows you to trade cryptocurrencies without the need for KYC verification. It uses a peer-to-peer network and offers a high level of privacy and security. However, keep in mind that the liquidity on Bisq may be lower compared to centralized exchanges.
  42060
• Dec 15, 2021 · 3 years ago
  Looking for alternatives to giving your SSN to Robinhood for cryptocurrency investments? Well, you can try using a peer-to-peer lending platform like Celsius Network or BlockFi. These platforms allow you to earn interest on your cryptocurrencies and also provide options for borrowing against your crypto holdings. They typically require KYC verification but offer additional benefits like earning passive income on your investments.
  43355
• Dec 15, 2021 · 3 years ago
  Worried about sharing your SSN with Robinhood? No problem! You can explore the world of decentralized finance (DeFi) and invest in cryptocurrencies without KYC verification. Platforms like Compound or Aave offer lending and borrowing services, allowing you to earn interest on your crypto holdings or borrow against them. Just keep in mind that DeFi platforms are still relatively new and come with their own risks, so it's essential to do thorough research and understand the protocols before investing.
  50456