Real-Name Bank Account: Why Crypto Exchanges Require Your Identity

When you sign up for a crypto exchange, they don’t just ask for your email—they want your real-name bank account, a financial account linked to your government-issued ID, used to verify who you are and where your money comes from. This isn’t optional. It’s called KYC, Know Your Customer, a legal requirement for regulated financial platforms. And if you’re trying to trade crypto legally, you can’t skip it. Countries like the UK, Portugal, Thailand, and South Korea now force exchanges to match your wallet to your real identity. No exceptions. No loopholes. No anonymous deposits.

Why? Because bad actors used to flood crypto with dirty money. Scammers ran fake airdrops, froze user funds, and vanished with millions—like what happened with AEX, a platform that blocked withdrawals and had zero regulation. Regulators stepped in. Now, if you want to use a licensed exchange like Criptoloja in Portugal or COREDAX in Korea, your bank account must match your ID. It’s not about trust—it’s about traceability. Your real-name bank account is the anchor that ties your crypto activity to the real world. Without it, you’re stuck with unregulated, risky platforms that could vanish tomorrow. And if you’re in a country like the Philippines, where $150 million in crypto was frozen for operating without proper identity checks, you’ll see why this matters. Even in places like Namibia, where crypto isn’t illegal but is tightly controlled, you need verified accounts to stay on the right side of the law.

It’s not just about compliance—it’s about protection. When exchanges verify your identity, they can freeze suspicious activity, reverse fraud, and help you recover funds if something goes wrong. Think of it like having a license plate on your car: it doesn’t stop theft, but it makes it easier to catch the thief. That’s why every post in this collection ties back to identity, regulation, or access. Whether it’s how Colombians use local exchanges with full KYC, why Thailand demands $2.1 million in licensing just to verify users, or how the UK bans crypto ads unless they prove who you are—every story leads back to the same thing: your real-name bank account isn’t a hurdle. It’s the gatekeeper to safe, legal crypto.