KYC

KYC (short for "know your customer") is the identity of the investor for admission to the ICO

The concept of KYC came to the crypto industry from banks, classic exchanges and bookmakers. Usually blockchain companies ask potential investors for photos of faces and copies of documents. Thus the data from the passport or the driving licence should coincide with information from Whitelist , which is filled in advance. KYC passes faster if you provide the system with information in English, for example, a scan of a passport.

The identification of investors became popular after the state regulators became interested in crypto-currencies. Securities commissions in different countries are increasingly demanding from ICO-campaigns compliance with the rules under which traditional investment types operate. So the time of the Wild West in the market of crypto currency is a thing of the past.