KYC (Know Your Customer) is important on Binance for several reasons:

1. *Security*: KYC helps prevent fraud, money laundering, and terrorist financing by verifying the identity of users.

2. *Compliance*: Binance must comply with regulatory requirements and anti-money laundering laws, which require KYC verification.

3. *Protection of assets*: KYC ensures that users' assets are safe and reduces the risk of account hacking and theft.

4. *Account limitations*: KYC verification removes withdrawal limits, allowing users to access higher limits and enjoy full platform functionality.

5. *Trust and credibility*: KYC builds trust and credibility between Binance and its users, ensuring a secure and reliable trading environment.

6. *Prevention of fraudulent activities*: KYC helps prevent activities like phishing, identity theft, and other scams.

7. *Compliance with regulations*: KYC enables Binance to comply with regulatory requirements and maintain its operating licenses.

By implementing KYC, Binance creates a secure and trustworthy platform for users to trade and manage their cryptocurrencies.

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