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Coinbase now requires me to provide proof of income, bank statements, source of wealth, etc... (alien.top)

submitted 11 months ago by viisi@alien.top to c/ethereum@blockchained.world

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What other exchanges are there that I can use to deposit ETH, exchange for USD, and then withdraw to a US bank account? Possibly, even a wire transfer.

I've been trading NFTs since the end of 2021. I made all of my ETH and income doing only that. I only use coinbase to exchange some ETH into USD once a month for bills and mortgage. All of it was properly reported to the IRS and the taxes are paid on it.

They're asking for a letter from my HR department, payslips, loan agreements... wtf

I don't have any of that, lol

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[–] Efficient-Hat5546@alien.top 1 points 11 months ago

Whatever other exchange or fiat offramp you use, the requirements for those information will be similar. KYC is mandatory for you to continue using CEXs, they need to update the information you provided when opening the account (or they never asked for it in the beginning and are just asking you for it now).

Provide your ETH address(es) that you used for the NFT transactions, as well as onchain transactions (link, pdf, etc) that makes it easy for them to verify you buy/sell NFTs and then cash out using coinbase. Bank statements to show you cashed out from coinbase to your own account and not funneling money, source of wealth like paystubs and tax statements you filed over the years to prove that you used money you had (and not gotten through hacks, scams, etc) to build up your gains.

Feel free to DM me any questions