Why is my SSN required to sell?
Coinme is required by law to collect the Social Security Number (SSN) from customers who sell cryptocurrency. This is a federal tax reporting requirement — your SSN is used to issue tax documents and report transactions to the IRS.
Your SSN is encrypted and stored securely.
Note: Submitting your SSN for selling does not upgrade your account or increase your transaction limits. To unlock higher limits, tap the profile icon on the top right, select Transaction Limits, then tap the Upgrade Your Account Today! banner to get started.
Step 1: Start a sell transaction
Open the Coinme app and tap Sell. If your SSN has not been submitted yet, you will be taken to the Tax Information screen before your transaction can proceed.
Step 2: Review and confirm your tax information
You will be taken to the Tax Information screen, which displays a W-9 tax certification. Review the certifications carefully. By checking the box, you are certifying under penalties of perjury that:
The SSN you provided is your correct taxpayer identification number
You are not subject to backup withholding
You are a U.S. citizen or U.S. person for federal tax purposes
Once you have reviewed the certifications, check the box to apply your electronic signature and tap Continue.
Step 3: Enter your Social Security Number
On the Social Security Number screen:
Enter your SSN in the field provided.
Tap Continue.
Your information is protected. Your SSN is encrypted as soon as it is entered and is never stored in plain text.
Step 4: Wait for verification to complete
After submitting your SSN and tax certification, Coinme will verify the information. This process may take some time.
Sell transactions temporarily disabled: If you attempt to sell before verification is complete, you will see a notice that sell transactions have been temporarily disabled for your account while verification is in progress. You'll be able to sell again once verification is complete — no action is required on your part.
Frequently asked questions
Why wasn't I asked for my SSN when I verified my ID?
Why wasn't I asked for my SSN when I verified my ID?
Photo ID and selfie verification and SSN verification are separate requirements. SSN is specifically required for selling crypto.
Is my SSN safe?
Is my SSN safe?
Yes. Your SSN is encrypted as soon as it is entered and is used only for tax reporting purposes as required by federal law.
How long does verification take?
How long does verification take?
Verification times can vary. If your sell transactions are temporarily disabled, it means your information is still being reviewed. Check back shortly — you do not need to re-submit anything.
Will submitting my SSN increase my account limits?
Will submitting my SSN increase my account limits?
No. Providing your SSN is required to sell crypto but does not upgrade your account. To unlock higher limits, tap the Upgrade Your Account Today! banner on the Coinme home screen.
What if I don't have a Social Security Number?
What if I don't have a Social Security Number?
At this time, selling cryptocurrency through Coinme requires a valid U.S. SSN. If you have questions about your account, please contact Coinme Support.