Sure, here's a simplified version:
1. **Safety**: KYC helps keep Binance safe from scams and illegal activities by checking who users are.
2. **Following the Rules**: Binance has to follow the law, which means checking who users are to stop money laundering and other illegal activities.
3. **Protecting Money**: KYC makes sure users' money is safe and stops hackers from stealing it.
4. **No Limits**: When users verify their identity, they can access more features and withdraw more money.
5. **Trust**: KYC helps Binance and users trust each other, making trading safer.
6. **Stopping Scams**: KYC stops scams like fake websites and stealing identities.
7. **Obeying the Law**: KYC helps Binance keep its licenses and follow the rules.
By checking who users are, Binance makes trading safer and more trustworthy.
