I have to say for a relatively new account with little to no personal information about your self you sure want a lot of information from users like their real names and physical address. Im not sure why you would need either of these. If its for shipping you can calculate shipping pasted purely on a zip code.
Yes, I am having the similar concerns here.
It's kind of KYC policy.
But with a new user and a new website/company, I am not sure if anyone wants to provide all those sensitive personal information.
Btw, is this service only available in the US?