Do you need ID to get a crypto wallet?

When using certain wallet applications, users may encounter a mandatory identity verification process. This process is essential for ensuring the security and integrity of the platform, as well as adhering to regulatory requirements.

To proceed with identity verification, users are typically required to submit a government-issued ID, such as a passport or driver's license. This serves as a means of confirming the user's identity and reducing the risk of fraud or money laundering.

Additionally, users may be asked to provide a selfie, which is then compared to the photo on the government-issued ID. This step adds an extra layer of security by ensuring that the person submitting the ID is indeed the one who is using the wallet.

Once the identity verification process is completed successfully, users can proceed to the next step of setting up their software crypto wallet. This involves creating a unique username and password, as well as enabling any additional security features offered by the platform.

With the wallet account set up, the next crucial step is to transfer assets into the wallet. This can include various types of cryptocurrencies, depending on the wallet's compatibility and the user's preferences.