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
SHA-256
Abbreviation of "Secure Hashing Algoritm - 256", SHA-256 is part of the SHA2 that allows one-way hashing of any data into a 64 character string.
Proof of Work (PoW)
A consensus algorithm in which a block is validated via mathematical hashing
Cryptocurrency
A form of digital currency that utilizes cryptographic protocols to record ownership and prevent counterfeiting
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
Interested to stay up-to-date with cryptocurrencies?
Get the latest news, trends, and promotional materials in crypto by subscribing to our free newsletter.
Or check it out in the app stores
