KYC

KYC (Know Your Customer) is a verification process in the cryptocurrency industry to confirm users' identities and prevent fraud, money laundering, and other illegal activities. Users need to provide personal information and documents, like a passport or ID card, to use cryptocurrency exchanges or participate in ICOs.

Completing KYC is necessary for users who want to open an account on a cryptocurrency exchange. They must submit identity documents and undergo verification to confirm their personal details. Once KYC is done, users gain full access to the exchange's features, including cryptocurrency trading and fund withdrawals.