Bitstamp wants my social security number

Your information is collected and used for a number of purposes. To engage in and fulfill their contract, Bitstamp will need certain information from you, such as your contact and payment information.

Due to their anti-money laundering and anti-fraud screening duties, certain information processing is mandated by law. Step 1: Create and maintain your Bitstamp account, as Bitstamp as bookkeeping, invoicing, legal documents, and claim and dispute management in general. Related processing activities are required for the fulfillment of a contract with you or to take actions at your request prior to entering into a contract as Bitstamp as compliance with their legal requirements.

Step 2: Your Bitstamp transactions will be processed. Related processing procedures are required for the fulfillment of a contract with you as Bitstamp as compliance with their legal duties. Step 3: Preventing fraud and other financial crimes is one of the most important things you can do. Related processing procedures are required for them to comply with their legal duties and to pursue their legitimate interests i.

To preserve the confidentiality of your Personal Data and to safeguard it from loss, theft, unauthorized access, use, modification, or destruction, Bitstamp use a range of security measures. These safety precautions include, but are not limited to, the following:. Password-protected directories and databases; SSL technology to guarantee that your data is completely encrypted and transferred securely over the Internet; and PCI Scanning to actively defend their servers from hackers and other vulnerabilities.

Only approved Bitstamp employees have access to your Personal Data, and they are obligated to manage it with extreme care. In light of new and relevant legislative and technological developments, the security measures will be examined on a regular basis. In an e-mail, text, or another form of communication that Bitstamp use to contact you, Bitstamp does not ask for financial or payment information such as your credit card number, passcode, account number, or pin number.

Please double-check that any Bitstamp website where you are required to provide financial or payment information in connection with their bookings or Services is run by Bitstamp. If you get a strange request, do not respond and report it to one of their Service agents as instructed in their Privacy Policy.

Your Account password, membership numbers, and pin numbers are your responsibility to keep safe and secure. You can contact them as soon as possible if your information is used without your permission or if there is any other security breach.

The whole debate shows that sharing your SSN with Bitstamp is totally safe as it is providing you and your personal data extreme protections against fluctuations. I hope you are no more in doubts and become clear?

If this article adds information to your knowledge, then it deserves Kudos. I hope you like this interesting article! As an Amazon Associate we earn affiliate commissions from qualifying purchases. In his spare time, he loves to talk about new technologies and hosts monthly IT and Cyber Security meetings in the Houston area. Online Cloud Security is here to recommend you the most secure devices, from laptops to smartphones, we only want to provide you with products that we have tested and used ourselves for online security.

Every product that we recommend is heavily inspected and tested for security against hackers, viruses, malware, and any other intruders that may want to steal your information. Affiliate Disclosure.

Privacy Policy. Contact Us. Table of Contents. Brief Info of Bitstamp:. Here is what they gather: They gather the Private Information which you supply directly to them or which Bitstamp produce when you register a Bitstamp Account , execute any transactions on the Bitstamp Platform, or use any Bitstamp Services or their Bitstamp web page.

Citizens may be requested to supply their social security numbers; So, this is the basic information they need to proceed you through the Bitstamp. If yes, here is what they do: Your information is collected and used for a number of purposes. These safety precautions include, but are not limited to, the following: Password-protected directories and databases; SSL technology to guarantee that your data is completely encrypted and transferred securely over the Internet; and PCI Scanning to actively defend their servers from hackers and other vulnerabilities.

Dave Miller. Popular Reads:. Once an address has been hashed, it functions similarly to an international bank account number. It takes the form of an alphanumeric code that other users need if they want to send BTC to your address. An address looks something like this:.

The easiest way to manage an address is with a wallet пїЅ most often a software program though it could also be a hardware device or service that stores asymmetric key pairs and interacts with the blockchain, enabling the owner to send or receive cryptocurrencies, in this case BTC.

Unlike a public key, which is used to derive the address, a private key serves a different purpose. A wallet may be associated with more than one private key, and may require more than one signature to initiate a BTC transaction пїЅ such wallets are referred to as MultiSig wallets.

Private keys should always be stored securely, for a compromised key may result in stolen funds. Here is an example of a private key:. A private key is generated free of charge for any new BTC user.

There are a couple of ways you can go about obtaining a private key. The first option пїЅ which should be considered highly insecure, as it exposes your assets to risk пїЅ is to let one of the many purpose-built web services generate a key for you. The second option is to let a wallet client generate the private key on your behalf.

The third option is to come up with a private key yourself, but there are limitations and rules in terms of the minimum and maximum character count, valid characters and character sequences. Thus, in theory, each Bitcoin block can only hold as much as 4 MB of transaction data and block data, such as headers but usually much less, about 1. Due to the limited block size, not all transactions from the mempool can make it into the next block if the traffic is significant.

In order to incentivize miners to include your transaction in the blockchain, the fee you decide upon should at least come close to matching those set by the majority of transactors.

Transaction fees are expressed in satoshis Bitcoin's smallest subunit per byte of block data. If you check websites with BTC transaction fee charts, you will find that fees range from a few satoshis per byte to more than a satoshis per byte.

If you set a fee too low, your transaction might never make it into a block and could be dropped from the mempool altogether. But if you set it too high, you will be wasting your BTC, as your transaction would probably have made it into the next block, even if you had set the fee lower.

So, how is a trader supposed to know how high to set the mining fee for their transaction? It helps to use websites such as Bitcoin Fees , which keep track of how high the fee should be set to have a transaction finalized within a given number of blocks. Use this address when transferring BTC from your external wallet to your Bitstamp account.

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