Carlene Schmeiser G39K
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What does KYC mean? Or identity verification
What is #KYC ?
(KYC) Identity Verification, or Know Your Customer,
It is a procedure by which financial institutions, including cryptocurrency trading platforms, are required to verify the identity of their customers before allowing them to open accounts or conduct transactions.
The purpose of KYC:
1. Preventing money laundering: Identity verification helps reduce illegal activities, such as money laundering.
(KYC) Identity Verification, or Know Your Customer,
It is a procedure by which financial institutions, including cryptocurrency trading platforms, are required to verify the identity of their customers before allowing them to open accounts or conduct transactions.
The purpose of KYC:
1. Preventing money laundering: Identity verification helps reduce illegal activities, such as money laundering.