When you receive a large amount of cryptocurrency in a single transaction, most exchanges will require you to provide some form of identification. This is because large transactions could be used to launder money or finance criminal activity. By requiring ID, exchanges can help to prevent these activities from taking place.
Other related questions:
Q: Does Blockchain require ID verification?
A: Most blockchain platforms will require some form of identification verification in order to create an account and transact on the network. This is to help prevent fraud and ensure the validity of transactions. However, there are some blockchain platforms that do not require ID verification, such as Bitcoin.
Q: Can I receive money on Blockchain without verification?
A: Yes, you can receive money on Blockchain without verification.
Q: Can I send bitcoin in Blockchain without ID verification?
A: Yes, you can send Bitcoin without ID verification on Blockchain. However, keep in mind that without ID verification, your transaction limits will be much lower than if you had verified your ID.
Q: Do you need ID to receive bitcoin?
A: No, you do not need ID to receive bitcoin.