KYC (Know Your Customer)
The identity verification process exchanges use to prevent fraud, money laundering, and fake accounts.
KYC, short for Know Your Customer,
is the process where crypto exchanges and financial platforms
verify your identity before letting you trade, deposit, or withdraw funds.
It’s a legal requirement in most countries
to prevent money laundering, fraud, and terrorist financing.
What you usually need
- A government-issued ID (passport or ID card)
- A selfie for face verification
- Sometimes proof of address, like a utility bill
Why it matters
- Helps ensure that exchanges operate legally and transparently
- Protects users from fraud and stolen identities
- But it also means less privacy and data risk
Some decentralized platforms let you trade without KYC,
but those often have limited features or withdrawal caps.
💡 Lanzo Tip
Always complete KYC only on official exchange websites —
never share ID documents through Telegram or email.
Fake “support agents” are one of the oldest crypto scams ⚠️