KYC: why exchanges ask for ID

KYC (know your customer) is the identity check a regulated exchange does before you can trade or withdraw.

What it means

Rules against money laundering require it, so asking for an ID document, a face check and sometimes proof of address is normal on legitimate platforms.

What to watch

Where you are asked to share ID: inside the official app or website is normal; requests for ID photos through a chat, a DM or an unofficial link are a warning sign.

How Compass-Alpha uses it

Background only; not used in any figure on Compass-Alpha.