So You Have KYC Bitcoin — Now What?


If you have spent time going down the rabbit hole of bitcoin or bought bitcoin from an exchange, then you have come across the term KYC (Know Your Customer). You’ve also most likely participated in the process by handing over a ton of personal information to said exchange in order to purchase bitcoin. After your purchase you are holding what others call
“KYC bitcoin.”

What does that even mean? It means that your identity is now tied to the purchase of that bitcoin and the associated wallet address of where that bitcon resides as a UTXO (unspent transaction output).



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