this post was submitted on 22 Nov 2023
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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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[–] kiiiiing@alien.top 1 points 11 months ago

i feel for you. i went through this process about a year and a half ago and the 3rd party team performing these KYC checks is extremely incompetent. it was super invasive. as long as you paid all your taxes youll be fine.

if the requests are not reasonable or the documents they want just dont exist tell them and push back.

i gave them everything they asked for and more. they made me contact my former employer to get the HR letter and then they asked me to go back to my former employer MULTIPLE times for edits to that HR letter. once for a missing middle name, another time for a missing home address, and another because the letter wasn't from the "HR department" (my former company had like 10 employees).

At one point they even accused me of tampering with the HR letter. I threatened to complain to coinbase at that point and then they approved me and it was over with.

I also use Kraken. i have zero complaints using them.