It's like showing your ID, passport or a receipt to prove who you are before using financial services, such as opening a bank account, buying cryptocurrency or accessing an investment platform.

It helps the company to know that you are a real person, to prevent fraud and to prevent someone from using the system for illegal activities.

Although it may seem annoying, it's a way to protect everyone and keep the system safe.

KYC (Know Your Customer) it is a mandatory procedure adopted by financial institutions, fintechs, cryptocurrency exchanges and other regulated service providers, whose purpose is verify the identity of your customers before allowing them to access financial products or services.

This process consists of collecting and validating the user's personal information, using official documents such as ID, passport, driver's license, as well as proof of residence (invoices, contracts) or even biometric technologies (facial recognition, fingerprint, etc.).

In the context of blockchain and cryptoassets, KYC has become an increasingly common practice even on decentralized platforms, allowing compatibility with regulatory frameworks without completely compromising user autonomy.

In addition, many jurisdictions require that KYC be an ongoing process, meaning that customer data must be updated regularly to ensure its validity and accuracy.

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