🧠 Crypto Glossary – Day 47
🕵️♂️ KYC (Know Your Customer)
It is the process by which a platform asks you to verify your identity.
💡 It usually includes name, document, and even a selfie.
📌 Why does it matter?
👉 It is required by law to prevent fraud, money laundering, and to protect users.
👉 Many platforms do not allow you to operate without completing the KYC.
📌 Practical example:
"To be able to withdraw my funds from Binance, I had to complete the KYC with my ID and a selfie."
📚 Did you know? Now you do.
Follow the series and learn crypto without smoke and mirrors.
One concept a day and getting less noob each time! 😎🚀
