Binance, Exchanges

What Is KYC Verification on Binance?

KYC, or “know your customer”, is a process whereby businesses verify the identity of their customers. This is typically done by requiring new customers to provide proof of identity, such as a passport or driver’s license.

The purpose of KYC is to prevent money laundering and other financial crimes. By knowing who their customers are, businesses can be sure that they are not inadvertently aiding criminals.

Binance is a cryptocurrency exchange that requires KYC verification for all new users. This means that before you can start trading on Binance, you will need to submit proof of your identity.

The process is fairly straightforward: first, you create an account on Binance. Once you have done this, you will need to log in and go to the “KYC” section.

Here, you will be prompted to upload a photo of your passport or driver’s license. Once you have done this, Binance will review your application and verify your identity. .

Once your identity has been verified, you will be able to start trading on Binance. The whole process should take no more than a few minutes.

In conclusion, KYC verification is a process whereby businesses verify the identity of their customers. Binance is a cryptocurrency exchange that requires KYC verification for all new users.

The process is fairly straightforward and should take no more than a few minutes.

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