KYC (Know Your Customer)
Fundamentals● Common
Identity verification requirements imposed on financial services, including Bitcoin exchanges. Requires submitting personal documents, creating privacy and security risks. Bitcoin acquired without KYC (peer-to-peer, mining) preserves financial privacy.
Technical Notes
Requirements: government ID, proof of address, sometimes selfies/video. Data breaches expose users to identity theft, targeted attacks. KYC-free options: Bisq, RoboSats, ATMs (limits), mining, earning. Trade-off: often higher premiums, less liquidity.
Metadata
Visibility: Public
Created:1/3/2026by System