Compliance & risk
KYC (Know Your Customer)
KYC is the identity-verification process — ID document, selfie, sometimes proof of address — that regulated financial services require before serving a customer.
Custodial exchanges that hold client funds are generally required to identify customers. Non-custodial instant exchanges do not hold balances, which is why many of them can operate without an account, while still reserving the right to request verification on flagged transactions.
On Swap.bz
No KYC is needed to quote or start a swap on Swap.bz. The only case where information may be requested is a deposit flagged by a liquidity partner’s AML system.
No-KYC crypto exchange →Related terms
No-KYC exchange
A no-KYC exchange lets you swap crypto without creating an account or uploading identity documents before the trade.
AML (Anti-Money Laundering)
AML screening is the automated analysis of a deposit’s on-chain history to detect links to sanctioned addresses, hacks, mixers or other high-risk sources.
Source of funds (SoF)
A source-of-funds request asks you to document where the crypto you deposited came from, typically after an AML flag.
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