I am new to the cryptocurrency market. I like the idea of a decentralized financial option. I recently started acquiring about the debit cards that you can link to your wallets. Or pre paid. My question is, i noticed that all the debit card companies give you 2 options of being verified or unverified. Unverified i noticed that your lifetime limit is 2500 dollars, so obviously it would be better to verified. Now being verified, I'm not sure why you would have to? Does that mean that you would have to pay taxes? Where does the transaction info go to, who uses them? Would i even need to worry about it? I honestly dont know much, if someone could explain the pros and cons of beong verified
United States
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