In order to begin buying and trading cryptocurrency I need to set up an account with an exchange like Kraken. The signup requires several forms of identification including your SSN. Is this normal or safe, if not, what are some better alternatives?

Before signing in a crypto-exchange please check if it services US based customers - some exchanges refuse to register US residents or citizens.

Some exchanges require upfront extensive ID info - passport page, driver’s license, national id card, and a high resolution picture taken at the time of registration.

But then some exchanges allow authentication only by e-mail / phone , and offer the extensive ID option as a second step - to get lower trading commission and/or to make larger trades.

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