๐งพ ๐ช๐ต๐ฎ๐ ๐ถ๐ ๐๐ฌ๐ & ๐ช๐ต๐ ๐๐ ๐ ๐ฎ๐๐๐ฒ๐ฟ๐ ๐ณ๐ผ๐ฟ ๐๐ฟ๐๐ฝ๐๐ผ ๐จ๐๐ฒ๐ฟ๐ ๐ถ๐ป ๐๐ป๐ฑ๐ถ๐ฎ
โค KYC (Know Your Customer) is a user identity verification process required by Indian crypto exchanges.
โค In India, KYC is enforced by FIU-IND under the Prevention of Money Laundering Act (PMLA) 2002.
โค It's designed to fight crimes like money laundering and terror financing.
โ Why KYC Is So Important
โค Stops Money Laundering
Criminals can try to hide illegal funds using crypto. KYC helps trace users and detect shady transactions.
โค Prevents Terror Financing
By identifying users, exchanges can spot and block suspicious funding linked to illegal activity.
โค Protects Real Investors
If your account ever gets hacked, your verified KYC info helps recover it faster and prevents fraud.
๐ก How To Complete KYC on Binance (India)
โ Step 1: Sign up using your email or phone. Set a strong password and enable 2FA.
โ Step 2: Start verification in your profile section.
โ Step 3: Enter personal details (name, DOB, address, etc.).
โ Step 4: Upload documents (PAN, Aadhaar, Passport).
โ Step 5: Do live face scan (follow instructions clearly).
โ Step 6: If asked, provide address proof (like utility bill or bank statement).
โ Step 7: Wait for approval โ usually takes a few minutes to a few hours.
๐ Final Thought: KYC Isnโt Just a Rule โ Itโs Smart Protection
โ It unlocks full access to exchanges like Binance
โ It protects your funds
โ It keeps the Indian crypto space safe and legal
If you're trading in India, doing your KYC is the first smart step toward secure and successful investing!