Coinbase, one of world’s largest and most popular cryptocurrency exchanges, has announced it is launching machine learning for ID verification.
This way the client verification procedure will reportedly take seconds, rather than hours, as it is now, and will make Coinbase users happier. Furthermore, the exchange has integrated an additional ID verification vendor to help with increased loads during periods of peak demand.
As a result, Coinbase now successfully verifies 90% of the applications. The remaining 10%, are rejected due to cropped or blurry photos. This is why Coinbase has published new clear guidelines on how to take a good photo of the documents needed for verification. If the verification fails, Coinbase will send an e-mail to the client to explain why and how to remedy the situation.
The same features will be rolled out on the mobile app of Coinbase in the next weeks.
Coinbase is a major New York-regulated cryptocurrency exchange that offers its services in 32 countries across the world. A major convenience in using Coinbase is indeed the possibility to buy cryptocurrencies almost instantly with a credit or debit card.