KYC (Know Your Customer)
Identity verification required by regulated crypto exchanges before you can trade.
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Explained Simply
KYC is the process where exchanges verify your identity — typically requiring a government ID, selfie, and proof of address. It's required by financial regulations in most countries. Completing KYC usually unlocks higher deposit/withdrawal limits and fiat trading. While KYC reduces privacy, it also means the exchange is more likely to be legitimate and compliant. DEXes generally don't require KYC.
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This content is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult a qualified professional for advice specific to your situation.