why does coinbase ask for driver's license

Coinbase, a digital wallet company, has been making a few controversial moves in recent years. One of the most recent ones was its decision to ask users to prove their age by showing a driver's license. This move has sparked debate about the benefits of using digital wallets and whether or not it is a good idea for people to rely on them for their personal information. Coinbase's move was initially met with criticism, as many people found it inconvenient to prove their age through a driver's license. However, the company's response was that they wanted to ensure that users were secure and protected from fraud and cyber threats. By requiring drivers to provide proof of age, Coinbase was able to strengthen their user security measures and protect their users' personal information. It is important to consider the potential benefits of using digital wallets, such as Coinbase. One of the key benefits is that they can be used to store and manage your personal information, such as your address, credit card numbers, and social security numbers. This can be particularly helpful if you are a tech-savvy individual or someone who values privacy and security. However, it is also important to consider the potential drawbacks of relying on digital wallets. One of the biggest concerns is that they can be a target for cyber threats. While Coinbase has taken steps to protect users from fraud and cyber threats, there is always a possibility that something could go wrong. In conclusion, Coinbase's decision to ask users to show a driver's license to prove their age was not the best move. While it was necessary to ensure user security and protect personal information, it was not a good idea for many people. It would be better to require users to provide other proof of age, such as a passport or birth certificate, to ensure that they are secure and protected from fraud and cyber threats.