Coinbase is one of the most recognizable names in the crypto and digital asset space. It entered the market in 2012 and has grown immensely since then. In fact, Coinbase is the second-largest global crypto exchange in terms of the trading volume.
Suffice it to say, Coinbase is a massive digital finance platform, which is why it takes the security of its customers extremely seriously. New users have to verify their identity due to the “Know Your Customer” system used by Coinbase.
That’s good and all but how long does this verification process take? How long after signing up would you be able to begin your crypto journey on Coinbase?
Keep reading to find out.
Coinbase operates with a tier system for their verification process with levels 1, 2, and 3. Here are the key differences between each of these levels and how they affect the verification time.
Verification level 1
Level 1 is the most basic form of verification on Coinbase. All you need for this is a valid photo ID and a working phone number that you have access to. After entering this info, Coinbase will send you a verification code (OTP) on your phone number. Enter this code on Coinbase and your account will be activated.
After providing the required info, the level 1 verification process is usually instantaneous but should only take 10 minutes at max. By completing this step, you are free to start making investments and trading crypto assets.
Verification level 2
Level 2 verification requires you to prove the address of your residence. Any valid document with your address should work. These may include your driver’s license, utility bills, or rent receipts. Coinbase can take up to 48 hours to verify the authenticity of your provided documents and move your account over to level 2.
Once that’s done, you’ll be able to invest as much money as you want as well as withdraw your liquid funds through direct bank transfer.
Verification level 3
Level 3 is the highest level of verification on Coinbase and it requires you to submit a government-issued valid photo ID. Similar to level 2 verification, this process can also take up to two days.
After you’ve completed level 3 verification, you’ll get access to the complete Coinbase experience without any restrictions. Users with this level of verification can even receive and send various cryptocurrencies through the blockchain.
How to avoid delays
There can be a number of reasons why the verification process is taking longer than it should. It could be an issue from your end like incorrect information or invalid documentation. But, the problem could also lie at Coinbase’s end with things like increased verification load or other similar issues.
To expedite the verification process, ensure that all required documents are uploaded correctly and completely. Double-check that your personal information matches the information on your identification documents. Also, make sure that your documents are not expired and that they are clear and legible.
If you ever face any trouble with the verification process, you can contact Coinbase’s customer support and they’ll be happy to help. You can do this by one of the following methods:
- Email support: You can reach out to Coinbase customer support via email, which is available 24/7. To get the right email, visit the Coinbase “Contact us” page while your account is logged in. Next click on “Coinbase” from the “Choose your product” section and the site will guide you through the rest.
- Phone support: Phone support is available for users in certain countries like the US, UK, and India. You can find the right phone number for your country on Coinbase’s support page.
- Chat support: Live chat support is also available on Coinbase’s website and app. That said, the chat support is through a bot and is limited to specific commands.
Ideally, you’d want to use either the email or phone option so you can talk to a human and explain your verification issue to them.
To ensure that your support ticket is resolved as quickly as possible, make sure to include the following information with your query:
- The email address associated with your Coinbase account;
- A clear and detailed description of the issue you’re experiencing;
- Any relevant screenshots or documents that may help explain the issue;
- Previous communication you’ve had with Coinbase customer support regarding the same issue.
Why is verification necessary?
Coinbase operates on a Know Your Customer (KYC) system to comply with Anti-Money Laundering (AML) laws. Tying a Coinbase account to a government-issued ID also makes it easy to recover an account in case the user falls victim to a phishing attempt.
Is my identification safe with Coinbase?
Yes, Coinbase keeps your valuable information locked behind secure encryption. It also promises to never sell or rent your personal information to third parties.
How does Coinbase verify payment methods?
When you link a payment method with your account, Coinbase sends two small payments to that account/card. You’ll have to enter those amounts correctly on Coinbase’s verification page to add that payment method.
What can you do if you receive an “Unable to upload your ID” error message?
If you receive an “Unable to upload your ID” error message during verification, wait at least 15 minutes and try again. If you continue to experience this issue, contact customer support. Explain the situation to them and provide any information they require about your account or device.
Coinbase verification is a crucial step in ensuring the security of your account and complying with regulations. So, make sure to complete the verification process as soon as you can.
Level 1 verification is all you need to get started on this crypto platform. But, we recommend completing level 3 verification from the get-go if you’re serious about using Coinbase.
The verification process should be seamless for the most part. If you do encounter any issues, don’t hesitate to contact Coinbase’s customer support as they’ll be happy to resolve your issue.
Get started and sign up with Coinbase here.