How Do I Get My ETH Out?

[Error 504]

is it possible to get it out? i don't want to scan my photo id and send it to coinbase.

maybe coinbase is a big trusted company, but it still feels weird to give them my id's.

 

 

thanks.

[Slottr]

Any economic institution will require ID to process transactions.

[Error 504]

Just now, Slottr said:

Any economic institution will require ID to process transactions.

it's about $800 CAD, but it just doesn't feel safe. i know everybody says it is, and it's a must nowadays, but still, it feels weird. i wouldn't feel as weird if i could walk into a bank with a physical building, and sit down with a live person.....

[AnonymousGuy]

There's some ATMs that give you cash but they seem super janky.  Every YT video I've seen of people trying to use them seems to find many don't work.

 

BTW in the US you owe income tax on that money, I'd assume it's the same in CA.  Coinbase has started reporting this to tax agencies for enforcement because they had no choice.

[tikker]

As others have said, you'll have to. They are obligated by law to complete the "Know Your Customer" (KYC) process to combat the fraud and illicit activity that crypto is prone to, just like any other bank. Stopping you from committing tax fraud by secretly having lots of cash is also one of those goals

 

Honestly at this point in time I'd feel more uncomfortable giving payment information to a back-alley site claiming to pay out anonymously...

 

You can get the ETH out to a personal wallet just fine most of the time btw. Withdrawing fiat is where the verification becomes an issue.

 

TL;DR you'll have to suck it up and get verified if you want to see your money

[Error 504]

9 minutes ago, AnonymousGuy said:

There's some ATMs that give you cash but they seem super janky.  Every YT video I've seen of people trying to use them seems to find many don't work.

 

BTW in the US you owe income tax on that money, I'd assume it's the same in CA.  Coinbase has started reporting this to tax agencies for enforcement because they had no choice.

i understand the taxable income part, but i'm just curious what steps coinbase takes to protect user's real id, and what steps they will take if there is a breach in their security. will they be responsible for anything.... etc.

[tikker]

4 minutes ago, Error 504 said:

i understand the taxable income part, but i'm just curious what steps coinbase takes to protect user's real id, and what steps they will take if there is a breach in their security. will they be responsible for anything.... etc.

Out of all the exchanges I'd trust Coinbase the most to be honest (coming from someone who doesn't use them). Their customer service can be... less than desirable though if stories are anything to go by.

[Error 504]

29 minutes ago, tikker said:

Out of all the exchanges I'd trust Coinbase the most to be honest (coming from someone who doesn't use them). Their customer service can be... less than desirable though if stories are anything to go by.

ya, i also have read about their customer service, and i think i read it somewhere that if coinbase accidentally got hacked, and user info got stolen, they wouldn't be responsible..... and that's why i'm being unsure about giving them my id.

[tikker]

11 hours ago, Error 504 said:

ya, i also have read about their customer service, and i think i read it somewhere that if coinbase accidentally got hacked, and user info got stolen, they wouldn't be responsible..... and that's why i'm being unsure about giving them my id.

I'm not sure if that's true. They are one of if not the most registered crypto exchange out of all of them. If any of them will be held responsible it's Coinbase. Given all the slaps Binance is getting for breaking local rules and regulations at every street corner I'd say authorities are pretty on top of them nowadays.