---
title: What is KYC and why do I need it?
description: "KYC (\"Know Your Customer\") is identity verification, required by regulation before you can move real money. On BananaCrystal: - **Deposits and withdrawals require verified KYC.** You can browse, hold a balance, swap, transfer, and trade without it, but fiat in/out…"
url: "https://www.bananacrystal.com/faq/what-is-kyc-and-why-do-i-need-it/"
updated: "2026-07-27"
category: "Agents / Account, KYC & Getting Started"
---

# What is KYC and why do I need it?

KYC ("Know Your Customer") is identity verification, required by regulation before you can move real money. On BananaCrystal:

- **Deposits and withdrawals require verified KYC.** You can browse, hold a balance, swap, transfer, and trade without it, but fiat in/out is gated until you're verified.
- Verification is handled by our verification partner through a quick guided flow.