BTC $67 534.00 ▼ 5.03% ETH $1 922.06 ▼ 2.39% USDT $0.9984 ▼ 0.01% BNB $666.22 ▼ 2.33% XRP $1.2300 ▼ 4.02% USDC $0.9996 ▼ 0.00% SOL $76.9600 ▼ 3.43% TRX $0.3372 ▼ 2.63% FIGR_HELOC $1.0310 ▼ 1.28% HYPE $72.2500 ▲ 0.60% BTC $67 534.00 ▼ 5.03% ETH $1 922.06 ▼ 2.39% USDT $0.9984 ▼ 0.01% BNB $666.22 ▼ 2.33% XRP $1.2300 ▼ 4.02% USDC $0.9996 ▼ 0.00% SOL $76.9600 ▼ 3.43% TRX $0.3372 ▼ 2.63% FIGR_HELOC $1.0310 ▼ 1.28% HYPE $72.2500 ▲ 0.60%
[rucmc]
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Home›Wiki›KYC
Term

KYC

"Know Your Customer" — the identity verification procedure on an exchange or service.

KYC (Know Your Customer) requires you to confirm your identity with documents. Exchanges use it to comply with anti-money-laundering laws. Without KYC, withdrawal limits often apply.

See also

CEX (centralized exchange)
An exchange operated by a company that holds users' funds (Binance, Bybit, OKX).
P2P trading
Direct exchange of cryptocurrency between users, where the exchange acts as a guarantor of the deal (escrow).
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