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
Algorithm
Algorithm is a set of rules to follow to solve a problem or conduct a task.
Enterprise Ethereum Alliance (EEA)
Enterprise Ethereum Alliance is made up for a group of Ethereum developers, corporations as well as startups who are collaborating to find ways to use Ethereum for business applications.
Secure Asset Fund for Users (SAFU)
A feature created by Binance which contains reserve funds that can be used to reimburse users in case of a catastrophic event (eg. exchange hack)
Merkle Tree
A Merkle tree is also known as a hash tree in cryptography. It is a tree where every lead node is labelled with cryptographic hash of a data block, and every non-leaf node is labelled with the hash of the labels of its child nodes. It is used to verify of data stored within it and transferable in and between computers.
Interested to stay up-to-date with cryptocurrencies?
Get the latest news, trends, and promotional materials in crypto by subscribing to our free newsletter.