KYC: definition and meaning
KYC, or know your customer, is the identity check that regulated platforms perform before allowing deposits, trading or withdrawals.
Why it matters
It helps prevent fraud and money laundering and is required by many exchanges.
Related terms
- Two-factor authentication
Two-factor authentication (2FA) adds a second proof of identity, such as a code, on top of…
Guides that explain more
- How to Buy Bitcoin: A Step-by-Step Beginner Guide
- What Is KYC in Crypto and Why Do Platforms Require It?
Educational content only, not financial advice.