> For the complete documentation index, see [llms.txt](https://docs.chainbitx.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.chainbitx.com/help-center/eng/readme/terms-and-conditions/kyc-terms.md). # KYC Terms What is **KYC**? **Know Your Customer (KYC)** is a process frequently used by banks, financial institutions, or cryptocurrency exchanges such as **ChainBitX** to verify and collect customer identity and information. The objective is to promptly prevent fraud, deceit, or other illegal activities and regulatory violations. At present, in some countries, conducting **KYC** is an essential activity for identifying and collecting customer and user information, and the security of this data must comply with legal requirements. **What are the risks of using a non-KYC exchange compared to one that requires KYC?** **Zero-KYC** cryptocurrency exchanges do not require identity verification, prioritizing user anonymity and privacy. These exchanges can operate in three forms: * **Non-KYC custodial:** A centralized exchange holds users' funds and private keys. * **Non-custodial, non-KYC:** Users retain control of their private keys and assets. * **Hybrid model:** Offers both custodial and self-custody options for different asset types. These exchanges appeal to users seeking security, anonymity, or residing in regions with limited financial regulations that do not require strict **KYC** compliance. Due to regulations such as **AML, MiCA,** and stricter tax reporting requirements in the **EU** and the **US**, the cryptocurrency market is no longer as unrestricted as before. **Non-KYC** exchanges face higher risks because: * **Risk of scams and fraud:** The lack of identity verification provides opportunities for fraudsters, increasing the likelihood of exit scams. * **Strict regulatory oversight:** **MiCA** and other regulations are shutting down non-compliant exchanges. * **Security vulnerabilities:** The absence of security measures makes **non-KYC** exchanges more susceptible to hacking. * **Lack of transparency and legal protection:** Users have minimal protection and may find it difficult to seek compensation in case of issues. **The role of KYC in the cryptocurrency market** From the above information, the key roles of **KYC** can be summarized as follows: * **Preventing money laundering and terrorist financing.** * **Ensuring legal compliance in multiple countries and regions.** * **Protecting users from scams and fraud.** * **Enhancing transparency and accountability.** * **Establishing trust with financial institutions and investors.** Overall, **KYC** is a crucial factor in promoting the **sustainable development** of the cryptocurrency industry, legitimizing activities, and building **trust** among users. ChainbitX**'s KYC Process** At ChainbitX, identity verification is required to trade cryptocurrencies, and **KYC** is divided into three levels: **Intermediate, Advanced,** and **Professional Advanced**. Users must provide: * **Personal information** * **Identification documents** (ID card, driver's license, passport, etc.) * **Facial recognition** * **Proof of address** To increase transaction limits, users must **declare their source of funds** and verify their **non-involvement in political activities**. ChainbitX enforces one of the most stringent **KYC** policies to protect users and the ecosystem. For more details, refer to: **Compliance Rules:** ChainbitX**’s KYC** ChainbitX **Registration Instructions** To register a ChainbitX account on a mobile device: **Step 1:** Download the ChainbitX app from **CH Play** or the **App Store**. **Step 2:** Open the app, tap "**Register**," select the account type (**Individual/Corporate Entity**), and choose "**Register with Email or Phone**." **Step 3:** Enter an **email/phone number** and create a **password** (at least **8 characters, including 1 uppercase letter and 1 number**). **Recommended ID = 11885538** **Step 4:** Agree to the **Terms of Service** and click "**Create Personal Account**." **Step 5:** Enter the **verification code** received via **email/phone** to complete the registration. ChainbitX **KYC Account Guide from A to Z** After registering or logging into a ChainbitX account, users must complete **KYC verification** to access trading products such as ChainbitX **Contracts** and ChainbitX **Launchpool**. **BTA** provides a detailed guide on the ChainbitX **KYC process**: **Step 1:** Log into the ChainbitX app, tap "**Verify Now**" on the homepage, or if no notification appears, go to "**Profile**" and select "**Action Required**." **Step 2:** Select your **country of residence** > Tap **Continue**. **Step 3:** Enter **personal information** (must match the identification document). **Step 4:** Upload a **photo of the identification document** (**ID card or passport**). **Step 5:** Follow the instructions to center your face and move for **facial recognition**. **Step 6:** Wait for ChainbitX to verify and receive a **notification email**. **Note:** Users can attempt verification **up to 10 times within 24 hours**. If rejected, **wait 24 hours** before retrying. **Do not exit** the application during the verification process. **Conclusion** **KYC** has become an **indispensable** part of the cryptocurrency market, especially for exchanges like ChainbitX. Where cryptocurrency regulations are **not yet well established**, **KYC** plays a vital role in **protecting users** and ensuring **secure cryptocurrency transactions**. As a **leading global exchange**, ChainbitX remains committed to supporting its customers and users in contributing to the **sustainable and secure development** of the cryptocurrency market.