KYC (Know Your Customer)
By CoinGecko | Updated on Nov 15, 2021
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them. It is also a policy the businesses required to implement as part of compliance, usually with Anti-Money Laundering and financial crime.
Related Terms
Cloud Mining
Mining on blockchains through rented processing power rented from companies that host the physical equipment.
Cryptocurrency
A form of digital currency that utilizes cryptographic protocols to record ownership and prevent counterfeiting
51% Attack
An attack on blockchain by a group of miners controlling more than 50% of network hash rate
UTC Time
"Universal Time Coordinated", can be used interchangably with Greenwich Mean Time (GMT).
Interested to stay up-to-date with cryptocurrencies?
Get the latest news, trends, and promotional materials in crypto by subscribing to our free newsletter.