What is KYC in the crypto world and why is it so important? 🧐🔐**
KYC stands for **"Know Your Customer"**. It is an identity verification process that cryptocurrency platforms (such as exchanges) use to comply with global regulations against money laundering and illicit financing.
📌 **What does it consist of?**
When you register on a platform, you will need to upload documents such as:
- Official identification (INE, passport).
- Proof of address.
- In some cases, a selfie for facial verification.
✅ **Advantages of KYC:**
- Greater security for your funds and data.
- Legal compliance: access to more services (such as trading with higher limits or increased withdrawals).
- Less risk of fraud and illegal activities.
⚠️ **Disadvantages?**
- Less privacy (you share data with the platform).
- Sometimes lengthy process.
📢 **Why does it exist?**
Cryptocurrencies prioritize decentralization and privacy, but centralized exchanges must operate within the law. KYC helps build a safer and more reliable ecosystem for everyone.
Do you have questions about how to verify your account? Ask in the comments! 👇😊
#Crypto #KYC #CryptoSecurity #Blockchain #CryptoEducation #DecentralizedFinances #Criptomonedas