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Glossary · Crypto and payments

KYC (Know Your Customer)

Identity verification — ID documents, a selfie, sometimes proof of address — that financial services use to confirm who their customers are.

By Sky Trade editorial teamUpdated

KYC stands for Know Your Customer: the checks a financial service carries out to confirm a customer's identity. Typically that means a photo of an ID document, a selfie or short video, and sometimes proof of address. Services use it to meet anti-money-laundering obligations, prevent fraud and enforce age or country restrictions.

From the customer's side, a few things are worth knowing. Requirements differ between services and change over time. Documents should be uploaded only through a service's official interface, never sent over chat or email to someone claiming to be support. And verification at one service doesn't carry over to another.

At Sky Trade no identity verification is currently required; the only check is email confirmation, which you need before you can withdraw. That may change in the future. Exchanges where you buy USDT, however, have their own KYC, and you will usually need to pass it before buying with a card or using P2P there.

For details, see verification and KYC and how withdrawals work.

Example

You register at Sky Trade, confirm your email through the link (valid for 24 hours) and can then request withdrawals. When buying 100 USDT on an exchange, you separately complete that exchange's ID check.

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