Is KYC required for crypto?
If you've ever used a cryptocurrency exchange or bought an NFT, it's likely that you will have had to perform a know-your-customer (KYC) check to verify your identity.
Is KYC safe in crypto?
Those identity procedures help protect the exchange and the financial system from money laundering, fraud and other financial crimes. Legal obligations and advanced security technology preserve account information. In summary, getting KYC for a crypto account is a normal, safe and easy process.
What does KYC stand for in crypto?
What Users Need to Complete Crypto Exchange KYC. To complete KYC exchange processes, users need to submit PII, which usually includes their full name, date of birth, address, social security number, and a phone number or email address. Users must also submit official supporting documents.