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

Token Burn

An event in which tokens are verifiably removed permanently removed from circulation.

Masternodes

Computers that are responsible for processing blockchain transactions and receive a reward when a block is mined.

Distributed Denial of Service (DDoS) Attack

A common cyber-attack tactic where a perpetrator diverts large amounts of traffic towards a particular network or service in an effort to disrupt normal services.

Bear Market

Contrary to bull market, it indicates the direction of the market going for downward trend.

Interested to stay up-to-date with cryptocurrencies?

Get the latest crypto news, updates, and reports by subscribing to our free newsletter.