KYc meaning and why!

[Naylor89 1223]

For getting services in some exchanges people have to go through a specific verification process of identity check where they must present identity proof documents. this process is called KYC. It is also an anti-Cheater protocol in Airdrops and bounties.

[ch imran 151]

no any idea in this what is kyc because i am new join this site and I am learning in this site so I am newbie ranking and no any about this topic and now I am learning in your topic and I see daily new topic and learning here 

[Jen Jordan 0]

Along with the growth of online finances also grew a proportional amount of online crimes. Kyc or know your customer is one step in reducing all the crimes. It is an authentication process to validate your claim as a law abiding customer. It usually requires you to submit certain identity proofs to the service provider. Hope this helps.

[Haley 832]

It is a verification process which is used by various platforms to verify the identity of client when opening an account. Its just to provide safety to users. Such as used in exchange platforms to verify a user before accepting his withdrawal request. 

[FARISOKTAV 970]

KYC means know your customer. that is a policy the companies ask their customers their legal identity information to keep their customer base geniune and store these information for legal issues if new regulations come to the market. it is not wrong to give your kyc to trustable platforms but you should always avoid doing that for sites you don't know about.

[benalmoh88 1500]

good question my friend, there are some sites working only by KYC, that mean you can create an account then if you want to trade or do any thing in this site you should be prove that you are with all your information, KYC is to put your identity picture like passport or licence driving for proving all your informations.

[jack88 427]

It is a service that requires you to submit your personal information for verification by the subject moderators. And I think it's a good service to avoid thieves, especially in big money laundering

[Storm eagles 26]

On 5/18/2020 at 4:06 AM, Saj555 said:

I have been listening about the word kyc a lot of times. And i also saw some people asking questions related to this. But actually i didn't find any answers about this. What is a KYC? Is this some kind of verification or what! Why this is so important for the users. I nwver faced anything in crypto related tools i assume. Please let me know what is this actually.?

kyc represents know your Customer ..and it is the cycle of check that any trade or wallet ask you to complete.an you can confirm your kyc by giving some id resembles identification or any public id that shows your citizenship with your nation

[Sir Lyman 399]

On 5/18/2020 at 3:53 AM, rekter said:

@malik6314193 already answered to what it is, i'll continue from that: It's short from "Know Your Customer" And it's required by some exchanges and icos because of Anti-money laundering laws.

Wow this is very impressive so the meaning of kyc stand for know your customer, at least it will not be new to me again having it in mind that is a decree in anti money laundering.

[usama Asif 73]

KYC means know your customer and sometimes know your client. kYC check is the mandatory process of identifying and verifying the identity of the client when opening an account and perdoically over Time. In other words bank must sure that their cleint are genuinely who they claim to be. its important because kYC is reduce the risk of identity theft.

[Angeln20 513]

As the full meaning implies, know your customer is some sort of security idea which users who wants to participate in cryptocurrencies as money service business know and comply with and it requires that one of submit valid documents such as international passport or residents permit etc.

 

 

[Catherine Louis 34]

The full form of KYC is Know Your Customer. It is a verification process introduced especially by banks for opening an account or even for membership too. Lots of apps which include money transfer also require KYC to be completed online. So it is really necessary to understand a person's integrity and to verify if he is legit or not. So the process includes you name , phone number, bank details and your ID card. In some it may vary according to the documents that a person has. I think KYC acts as an additional layer of security so that people are more secured from scammers.

[Chaduhary Haseeb 83]

KYC mean know your costumer. This feature is not introduced by crypto forum. By this feature we can identify the customer of this forum and prevent from scammers. I hope crypto forum soon introduced this feature.

[Thierry clement 102]

Kyc is one of the methods used by certain sites to verify subscriber identity and it is done by submitting personal images and some documents and a copy of personal identity, and I honestly do not like this system at all because it can be stolen and the use of these files in illegal matters

[Karthik 32]

Hello there mate, KYC is a type of verification process where the user has to provide his details to the organisation demanding KYC. It is a way of organization to know about their customers. KYC means Know Your Customer.

[Chaduhary Haseeb 83]

I am earning free in crypto forum also gain knowledge about the trading through this forum. I want to start trading. There are many seniors who have much experience in trading. What are the necessary point before start trading? Give me your opinion. Thanks

[Cryptobash 253]

KYC sound strange to me,but I guess it's not use here in the cryptocurrency platform because I did almost all the registration on both youbit and crypto my self and I didn't come across anything of such.

[Fahad faf 91]

Kyc is a process of verification of your identity it's mandatory for every money transaction becouse there is a high chance of illegel transaction .but kyc is not share with any third parties so it's safe

[Angelina786 101]

Hi friend @Saj555 am new here at and I have no idea what KYC means, but I have read the comments here and have seen the response of people, so to a large extent, I have also got an idea to post a post that helps us too.  Thanks so much these types  questions.keep it up🙂

[Silwester_888 439]

KYC is stand for "know your customers". It is a security procedure in which you have to provide your personal information like your passport number, your ID, your pictures and in some cases your utility bills also. This done to ensure that the client or the customer not got into criminal activity previously. All of your personal information verified potentially.

[Goopang 202]

KYC means that cnic verification and for some sites this verification is must required like some mining applicationes required this verification and if you have downloaded the pi network and time stop then KYC verification is must necssary when we receive our currency. 

[Lion heart 71]

On 5/18/2020 at 4:06 AM, Saj555 said:

I have been listening about the word kyc a lot of times. And i also saw some people asking questions related to this. But actually i didn't find any answers about this. What is a KYC? Is this some kind of verification or what! Why this is so important for the users. I nwver faced anything in crypto related tools i assume. Please let me know what is this actually.?

KYC is check measure in which you need to give your own data like your public personality card or identification, your image and your telephone number. Somebody even gets service bills for your location check.

[Khan Zak 74]

That's a wonderful post and the replies are awesome. With this post i came to know that who is important to be answered for KYC and to whom we should not answer.

[Brandonsaw 1973]

KYC is the method that they ask you in cryptocurrency exchanges, which is an identification they ask you for security but I don't like going through these methods since I don't know what they do with our information, that's why I don't like doing the KYC, many people don't  He likes to do the KYC and it is because we do not know what they do with our data, hopefully soon they will no longer ask to do the KYC because it is annoying.

[Roseline 8]

KYC is an authentication procedure that allows businesses to recognize their customers by way of an identity form. KYC basically means Know Your Customer and it's done to keep our accounts secure from the likes of fraudsters, scammers and hackers who mainly attack to steal our wallets.