KYc meaning and why!

[Syriana 350]

kyc, in the sense of knowing your customer, which is a process of identifying you, your name, address, and a personal picture, like the ID card or passport, and it is used to protect your property, money and profits, and I think it is good in protecting what you have from theft and fraudsters, so I think that we must all follow it

[Bstact 130]

KYC is a security system and it protect you from the scrammers and if you enable this option on your account than you are much secure as compare to the other members. So. Keep it up and enable the security system becaise scrammers are ready to steal your money or crypto currency.

[Manir 1181]

Its a verification process where you will provide your details such as pass port,  national identity number,  phone number and so on.  Some crypto wallets require all this process such as binance,  quidax and so on. 

[Malik sami 0]

Today, some large exchanges need KYC because they want their customers' full information, so money laundering and criminal activity are increasing in crypto, so some exchanges check our personal details, because if anything happens, they reveal account details.

[asmar33 413]

I think it's an acronym for Know Your Customer. But I don't think it is good because it can lead to personal information theft. This may lead to losing your balance.

[Sumairo 6]

The truth is that I am also new and I have no idea about it but it would be good if someone who has the experience and knowledge on the subject publishes a good explanation for all of us who need it, I will still make my own research to be high and be able to train a little more.

[hanan11 389]

This is a safety feature over the wallets or exchange platforms to make sure you are not a robot or a professional. I think it is a correct way to secure the political system.

[Rifat138888 89]

KYC refers a verification system, which ensure that the person are the holder of the account is that you. Is the must task to secure your account. And the kyc is widely acceptable and one of the most trusty way to ensure the users identity.  

[Kate94 78]

I was also not familiar to the term kyc but after reading comments I was know about this term it was very informative for me I learnt about kyc thanks for asking this question 

[Abdulaziz8186022 7]

What is a Know Your Customer (KYC) procedure? Is this some kind of confirmation or something? Why is this so crucial for the users? I don't believe I've ever seen anything in terms of cryptographic tools. Please explain what this is all about.

[Rutherford Two 32]

Good and very useful topic for me dear thanks! I don't have any idea about KYC but through your platform I gain too much information this is useful for me in future and I realized the importance of KYC. 

[Mohamadmal1999 671]

Hello my friend how are you I hope you are fine and good health. It is something to define yourself as the personal identity or passport and visa you possess. This is used to introduce yourself. Thank you my friend for the wonderful post. Good luck everyone.

[Qassem 361]

I do not know what this code means, but when I read the posts of the senior members, I found that it was a case of verifying information. It is a great way and it works to protect accounts from hacking.

[blackcat2 269]

I do not have knowledge about this word but their are lot of senior members that gives you good suggestion and this is the best forum that if you have any question then you can asked with others and learn about new things that means a lot.

[Lodhi 9]

Thank you dear mate for your good question kYc stand for know your customer it requires the user important information for trading with a reasonable person because Traders want to user information