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In the US you must do this on every transaction. This is due to Know Your Customer KYC laws which require exchanges to record the real world identity of their clients. LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. All Bitcoin transactions are public but it is not always known the real identity behind any give Bitcoin address. Chapter 4 Frequently Asked Questions.

We may receive compensation when you use CEX. CEX is only available in some US states; please see this page for details. Coinbase and other exchanges are required to ask for this information in order to comply with government regulations. We have created simple step-by-step instructions to buy Bitcoin Cash quickly. Please visit Coinbase for its exact pricing terms.

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