In recent years, cryptocurrencies have become a growing part of the global financial system, and with this expansion has come a growing need to regulate their trading, especially in regions with emerging financial laws, such as Arab countries. One of the most important of these regulatory measures is the Know-How (KYC) process.

First: What is KYC?

KYC, short for "Know Your Customer," is a mandatory process followed by financial institutions, including cryptocurrency trading platforms, to verify the identity of customers before allowing them to use the platform's services.

This process includes collecting personal information such as:
Full name, date of birth, nationality, proof of identity (such as passport or ID card), proof of address (electricity bill or bank statement), sometimes a live selfie for face verification

A step-by-step guide to completing the KYC process on Binance in the Middle East and North Africa:

Step 1: Create a Binance account

  • Go to the Binance website or download the official app, select "Register," then enter your email and password, or use your phone number depending on your country.

  • Binance registration link: https://www.binance.com

Step 2: Enter the verification page

After registering and logging into your account, go to the "Verification" section by clicking on your profile picture, then select "Verification."

Step 3: Select country

You will be asked to select your country of residence. Choose your country in the Middle East or North Africa, such as Morocco, Egypt, Saudi Arabia, the UAE, etc.
Step 4: Enter personal information

Enter your personal information as it appears on your official documents.

Step 5: Upload identity documents

Select the type of document (national ID card, passport, driving license).

Scan the document from both sides and upload the images.

Step 6: Face Verification

You will be asked to take a live selfie or record a short video of your face.

Step 7: Wait for review

Your verification request will be reviewed within minutes to hours. Once approved, you'll be eligible to use all platform services.

Why is the KYC process necessary in Arab countries?

1. Anti-money laundering

By verifying users' identities, trading platforms can identify suspicious activity and identify accounts that use cryptocurrencies to transfer illegal funds.

2. Combating the financing of terrorism

Cryptocurrencies are sometimes used as a means of anonymously transferring money across borders. KYC helps prevent platforms from being used for this purpose.

3. Compliance with local and international regulations

In Arab countries, banks and central banks have begun imposing strict regulations on cryptocurrency transactions. Completing KYC helps platforms comply with these regulations to avoid fines or bans.

4. Protecting users and investors

KYC reduces the risk of fraud and identity theft. If your account is hacked, having identity verification makes it easier to recover it and makes it more difficult for attackers to access your funds.

5. Access to expanded services

On Binance, for example, users who complete the KYC process are given higher withdrawal limits, access to features like peer-to-peer (P2P) trading, and the opportunity to take advantage of offers and giveaways.

Is there privacy in KYC?

Yes. Binance and other well-known platforms process KYC data according to the highest security and privacy standards, and use encryption to secure sensitive documents and information.

Conclusion:

The KYC process is no longer just a formality; it has become the first line of defense to protect investors and prevent illegal activities. In Arab countries, where the regulatory environment is rapidly evolving, identity verification on platforms like Binance is a necessary step for compliance and protecting yourself as an investor.

If you're serious about entering the world of cryptocurrencies, get started today by completing verification — it's your gateway to safe and reliable trading.