Bisolami
Verified member
KYC is also known as Know Your Customer. It is a kind of registration which is done for anybody who wants to register on a platform. It is not compulsory for it to be a cryptocurrency platform. It just has to be a platform where people are going to be engaging themselves in something. It may even be a gambling platform and I think people who use ot most are those international platforms.
Know Your Customer registration is important because it helps websites to know their members. You will even be able to track them down if they carry out any fraudulent activity and I think this is one of the major reasons why this registration is needed on a lot of platforms. I think this is also why it is not good to give out the information on your account to people. Some people may not be trusted because all they want to do is to carry out fraudulent activities with your account and you may not be aware of it.
The registration also helps the crypto exchange to know the kind of person that they are dealing with and also every information of the person. It is very good though.
Know Your Customer registration is important because it helps websites to know their members. You will even be able to track them down if they carry out any fraudulent activity and I think this is one of the major reasons why this registration is needed on a lot of platforms. I think this is also why it is not good to give out the information on your account to people. Some people may not be trusted because all they want to do is to carry out fraudulent activities with your account and you may not be aware of it.
The registration also helps the crypto exchange to know the kind of person that they are dealing with and also every information of the person. It is very good though.
