As a company operating in the United States, Coinbase is required to comply with U.S. They have also received investments from Bank of Tokyo, Blockchain Capital, Alexis Ohanian (Reddit Co-Founder), and various other trusted investors. Since their launch, they’ve served over 8 million customers (currently users from 32 countries can use their services, including the United States) and helped users exchange over $20 Billion worth of digital currency. This requires them to meet capitalization, consumer protection, anti-money laundering, compliance, and cyber security requirements set by the NYSDFS.Ĭoinbasewas launched in 2012 in San Francisco, California. As a New York based cryptocurrency exchange, Gemini is fully regulated by the New York State Department of Financial Services (NYSDFS). Despite launching more recently than most of their competitors, they’ve quickly built a great reputation in the community and they consistently have some of the largest daily Bitcoin trading volume of all exchanges. Gemini was founded by Tyler and Cameron Winklevoss (Co-Creators of Facebook) in 2015. customers, which means that both companies are regulated by various U.S. Keep in mind that, when creating a traditional stock brokerage account, similar verification would also be required.īoth companies are based out of the U.S. The verification is required in order to comply with regulatory bodies and laws where these sites operate. *Verification – Reputable sites that allow you to purchase cryptocurrencies in exchange for FIAT currencies require you to verify your identity. This process allows you to lock in your price faster than on traditional exchanges.
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