What is the meaning of KYC?

                       What is the meaning of KYC?

The know your customer or know your client (KYC) guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship

 

KYC protects both clients and investment advisors. Clients are protected by having their investment advisor know what investments best suit their personal situations. Investment advisors are protected by knowing what they can and cannot include in their client's portfolio. KYC compliance typically involves requirements and policies such as risk management, customer acceptance policies, and transaction monitoring.


In cryptocurrency field, KYC purpose is to comply with KYC regulations and anti-money laundering regulations.


So, whatever you are mining hi dollars or pi network. You should also finish KYC. Because KYC is good for you and let your own counrty your earnings is legit.

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