What is KYC and why do crypto platforms in the UAE and Saudi Arabia require it?

- KYC (Know Your Customer) is a procedure required for the platform to verify the identity of users.

Its goal is to protect the platform and users from fraud and money laundering.

- To open an account on crypto platforms, you will need to upload documents such as a national ID or passport, along with proof of residence.

- KYC protects users from fraud by ensuring that the people dealing with the platform are known and their identities are verified.

- On platforms such as **Binance**, completing KYC is simple:

1. Upload your national ID.

2. Proof of residence.

3. Wait for data verification, and the process is completed within a day or two.

- KYC is a necessary procedure to ensure the security of financial transactions and protect yourself from fraud on trading platforms.