How Long Is Coinbase Verification? | HedgewithCrypto (2024)

With over 56 million customers worldwide, Coinbase requires users to undergo rigorous Know Your Customer (KYC) verification before purchasing cryptocurrencies like Bitcoin, Ethereum, and Bitcoin Cash on the platform. In this article, we'll answer the popular question “How long does Coinbase verification take” and discuss tips on how to verify your identity in a few minutes.

What to Do if Verification Is Taking too Long?

If all of the information and documents submitted are correct, they should receive a near-instant instant verification. However, if it takes longer than a few minutes, it could indicate there was a problem during the verification stage. It is recommended to contact Coinbase support or visit the Coinbase Status Page for the most recent information on similar technical difficulties and their resolutions.

Coinbase will also notify you of any errors. For example, if there is a problem connecting the user to Coinbase's ID verification service, the individual will receive the error message "Unable to upload your ID". If the first attempt was on a mobile device, try again after 15 minutes on the Coinbase website. If the individual repeatedly uploads different papers or provides false information when signing up, they will need to wait an additional 24 hours. For more information on why this is important, read our guide on what KYC means in crypto.

Can You Speed Up the Coinbase Verification Process?

Coinbase usually takes a few minutes to complete the verification process. However, verification may be delayed if the proper documents are not submitted. That is to say, the verification process will be completed quickly if the required paperwork and data are provided accurately. Here are some important tips to keep in mind to ensure rapid KYC approval:

• Enter correct personal information. One of the most essential pieces of information includes full name, bank information, email address, phone number, residential address, and identity documentation. Users should ensure the accuracy of documents submitted as they cannot be modified once the ID verification is completed. In addition, when a customer adds a withdrawal method, the receiving bank information must match what is on Coinbase. Failure to enter matching information can lead to Coinbase rejecting the withdrawal to a bank account.

• Activate 2-Factor Authentication (2FA). Coinbase recommends that customers set up 2FA for more security. For example, in addition to their username and password, a user will be required to enter a unique verification code sent to their phone. They can obtain the code via SMS/Text, a security key, Duo, or Google Authenticator (TOTP).

The Verification Levels on Coinbase

The verification procedure on Coinbase is to ensure its users are who they say they are. Individuals must therefore provide crucial credentials after opening their Coinbase accounts per the platform's anti-money laundering (AML) policy. Coinbase has three different verification levels with specific privileges:

1. Level 1. Individuals are required to verify their name, email address and accept the terms of service. This level allows users to make weekly purchases and add payment methods but do not have access to the benefits of higher-level users.
2. Level 2. Those who have confirmed their personal information must include a photo ID. With this verification level, users can access advanced trading features like setting trade limits, withdrawing funds at any time, and initiating wire transfers into and out of their accounts.
3. Level 3. The highest verification level available on Coinbase can take 2 days to complete. Verification level 3 is available to users who have submitted and fully verified a government-issued photo ID in addition to the other information listed above. They can send cryptocurrencies while also receiving the best service possible, such as access to Coinbase Pro.

How Long Does Each Verification Level Take?

Each verification level requires a different set of documents that affects the time for the individual to upload and for Coinbase to approve. The table below outlines the verification levels and the estimated times for ID approval:

Why Complete the Verification Process?

Performing the full ID verification process on Coinbase has several advantages. These include:

• Enhanced security. It is an industry best practice that service providers collate the real-world identity of users. Coinbase implements a KYC process primarily to safeguard consumers from fraud and money laundering issues. This protects against crypto exchange hacks and security breaches while ensuring they can checkmate any dubious transactions.
• Unrestricted features. Customers on Coinbase have varying levels of verification. Coinbase users who have completed the entire verification procedure have unlimited trading access. Unverified Coinbase users, however, will be restricted, as they would have limited access to features -limited trading options and funds withdrawal.

How to Complete the Coinbase Verification Process - Complete Guide

Once a new user profile has been created, the next step is to verify the account. Coinbase has a simple user interface, and verification can be completed within minutes on the Coinbase app by following this step-to-step process:

1. Step 1. Click the “Settings” menu in the bottom-right corner of the Coinbase home page and then select “Limits and Features” from the dropdown menu. Next, choose between the available feature upgrades by verifying a photo ID and confirming their personal information.
2. Step 2: To start the photo ID verification, upload a valid, up-to-date user ID. Simply click “Verify Photo ID” to upload. The ID must clearly show the customer’s first and last name, date of birth, and visible ID number. Remember that ID options for Coinbase customers outside the USA include Passport, National ID card, and government-issued photo ID, while USA customers need state-issued IDs like Driver’s License or another identification document.
3. Step 3: The user should use the smartphone camera to take a photo of the identity document. The picture must show the entire ID with no parts cut off.
4. Step 4: Coinbase will send an ID verification SMS to the provided phone number. Click the link in the message and follow the instructions needed to capture front and back pictures of the ID document. It’s best to do this on a plain background and in a well-lit environment.
5. Step 5: It’s time to update and verify personal information. After this, the ID verification process is complete, and the user must wait patiently for Coinbase to check and confirm all the information provided. It is important to research and seek investment advice before trading on Coinbase.

Frequently Asked Questions

Conclusion

Coinbase is one of the many leading crypto exchanges that require a compulsory ID verification process before buying and selling cryptocurrencies on its platform. This is to essentially increase the safety of the user's funds while unlocking more features and withdrawal limits. Following each of the verification steps and entering accurate information is the best way to ensure that the KYC approval is completed in a few minutes. To learn more about the Coinbase exchange, read our full review on Coinbase and Coinbase Pro.