KYC in crypto.
What NOBODY explained clearly (and you should know)
Many enter the crypto world and come across something that sounds strange (or annoying):
"Upload your ID", "verify yourself", "do the KYC".
But what is KYC and why does it matter?
I'll explain it simply and without complications 👇
KYC = Know Your Customer
It is the identity verification process that an exchange asks for to comply with international laws.
Full name.
Document.
Proof of address.
Sometimes, a selfie or video.
What is it for?
✅ Prevent fraud and money laundering.
✅ Help recover your account if it gets hacked.
✅ Enable higher withdrawal limits and advanced functions.
✅ Give legitimacy to the ecosystem.
⚠️ But… what about the risks?
You provide your data to a centralized company.
There may be leaks if they do not properly safeguard security.
You lose anonymity (if that was part of your goal).
Honest conclusion
KYC is not "the enemy".
It is part of the path if you operate on large exchanges and seek security.
For those who want total anonymity, there are DEXs… but with their own risks. (I will explain this in another post)
Choose what best fits your goals and profile.
Have you done KYC yet?
Does it generate trust or doubts for you?
I look forward to your comments 👇
