What is KYC (Know Your Customer)? Why is this needed

KYC (Know Your Customer) is a one-time identity verification process required for using financial and crypto platforms. It ensures transactions are safe, legal, and secure.

Why KYC is important:

• Regulatory compliance: Required by law to verify user identities
• Security: Helps prevent fraud, money laundering, and misuse
• Trust: Builds a safer environment for all users
• Access: Unlocks key features like deposits, withdrawals, and higher limits

What you'll need:

• A valid government-issued ID (passport, driver's license, or national ID)
• Sometimes, a proof of address (e.g., utility bill or bank statement)

Once verified, you'll have full access to all platform features.