Identity verification, levels to pass, regulation, crypto transfer limits, KYC is now an integral part of the world of crypto currency

What is KYC? Know Your Customer is an acronym used in identity verification. In the world of crypto currencies, several entities can apply for KYC

Purpose of KYC It allows institutions to carry out a better risk assessment of their loans. Prevents money laundering. Limits fraud mainly associated with identity.

What is the use of KYC in cryptocurrency? KYC it possible to ensure the probity and integrity of each client wishing to buy and use cryptocurrency.

Is KYC requested everywhere in crypto? Regulatory systems cannot attack decentralized and it is therefore impossible to force them to set up identity verification. 

By registering on an exchange like Binance or FTX , you may be asked to validate a KYC for identification

However, as cryptocurrency transactions have expanded on a global scale, identity verification, that is, KYC, has come to be required for cryptocurrency transactions as well. 

Cryptocurrency transactions, which are established by trading currency data online, have received a great deal of attention due to the realization of highly anonymous transactions.