KYC regulations are a pain because they can make it harder for people to enter the market. It’s also not just an inconvenience, but it has been known that this process sometimes leads to identity theft. There are many reasons why you may want to avoid KYC. KYC regulations can be burdensome and time-consuming for customers with busy lifestyles.
However, there are still a few exchanges that do not require KYC verification before an account is created or trades occur on the exchange platform itself – these exchanges include Binance and Kucoin among others. These crypto exchanges without kyc represent one of the best places to buy cryptocurrencies without having to go through all of the trouble of KYC.
This article has all the information you need to know about these crypto exchanges without kyc, including why they are not required and what their benefits may be for buyers. You can also find links in this article that will take you to each exchange’s website for more detailed information on how to create an account, trade coins with them and much more!
What is Know Your Customer (KYC)?
KYC is an acronym for ‘know your customer’ (or sometimes, ‘know your client’). It refers to the verification of a customer’s identity. This is often done through the collection of personal information, such as ID card, passport or gas bills. The purpose of KYC is to ensure that businesses know who their customers are and that they are not dealing with criminals or money launderers.
KYC is short for “Know Your Customer” and is a requirement that many exchanges have for their users. This means that you must provide certain ID documents (such as your driver’s license or passport) in order to use the exchange. The requirements vary depending on the exchange, but KYC is generally implemented in order to prevent money laundering and terrorism financing.
Why would you want to avoid KYC in crypto?
One of the biggest issues with KYC is that it can be a very costly and time-consuming process. KYC is especially more of a pain for smaller companies that don’t have the resources to deal with an extensive and massive KYC process. There are a variety of reasons why someone might want to avoid KYC checks when registering for a crypto exchange.
These include hiding credentials from authorities, wanting to maximise decentralisation, not wanting to trust someone with sensitive information, and more. Operators of crypto platforms may find these practices difficult to manage if they continue unabated.
Top Altcoin Exchanges Without KYC in 2022
KuCoin is a quality alt-coin exchange that specializes in spot trading, margin trading, mining pools, staking and lending. KuCoin has attracted investment from VC firms like IDG Capital and Matrix Partners. KuCoin provides a variety of features such as a powerful API interface, bank-level security of assets, fast processing trade matching engine and more.
KuCoin is a decentralized exchange that allows users to trade over 370 cryptocurrencies. This includes the KuCoin token (KCS) which offers benefits such as discounts on trading fees and voting rights for new coins added to the exchange. The account verification process is optional, so people can trade crypto with just an email address. KuCoin is a cryptocurrency exchange that offers its users the option to trade without having to go through the account verification process.
This means that people can trade crypto with just an email address. While this may seem like a disadvantage, it actually works in their favour if one of their coins is listed on big exchanges. Because of this, their price will likely pump up, giving investors a chance to make some good profits.
CoinEx is a cryptocurrency exchange that offers spot and margin trading, as well as trading on perpetual contracts. It has a large number of cryptocurrencies and tokens available for trading, including its unique CET coin. Trading with CET can provide benefits in terms of commission fees.
CoinEx is a cryptocurrency exchange that offers spot and margin trading, as well as trading on perpetual contracts. It does not require users to complete KYC verification, making it a popular choice for those who want to trade large amounts of cryptocurrencies. However, withdrawals are limited for non-KYC verified users to $10,000 per day. For verified users, the withdrawal limit is increased to $1,000,000 every 24 hours.
Bybit is a popular derivative exchange that does not require users to complete KYC verification. It supports trading of BTC, ETH, XRP, EOS, SUSHI, AAVE and USDT coin. Join Bybit and get a $600 bonus! Bybit is an emerging P2P crypto derivatives exchange that offers competitive trading fees and excellent customer support.
Binance is one of the world’s largest and most popular cryptocurrency exchanges. It was founded in 2017 by Changpeng Zhao and is based in Malta. It offers a wide range of services, including spot trading, derivatives trading, mining pools, lending, and branded crypto debit cards.
Binance is currently the world’s largest cryptocurrency exchange by trading volume and it is only set to grow in the coming years. The Binance ecosystem is fueled by its native token BNB coin which ranks 8th by market capitalization. Trading on Binance is the cheapest compared to other exchanges and has no withdrawal fees for non-verified accounts except for 2 BTC per day limit for fiat deposits and withdrawals. Additionally, Binance has a very user-friendly platform with great customer support.
Binance offers a wide range of cryptocurrencies for trading, including Bitcoin and Ethereum. It also has low fees in comparison to other exchanges and provides good customer support. They offer anonymous trading, deposits and withdrawals without KYC for all users up to 2 BTC withdrawal per day. Apart from that, binance offers many other services like margin trading or staking (earning interest on crypto deposits) which makes Binance a real competition to all banks and brokers.
Changelly is a centralized Altcoin swapping service that does not require KYC or AML. Changelly allows you to swap supported altcoins for BTC or any other supporting currency quickly and easily. Changelly is a well-known cryptocurrency exchange that offers more than 200 cryptocurrencies and accepts fiat currencies as well. What’s more, their customer support team is exceptional and always willing to help.
1InchExchange is a DEX aggregator that helps you get the best rates from decentralised exchanges like Uniswap, Sushi and others. If your purpose is to do trading without worrying about KYC, this is the best website for you. You can connect to 1inchexchange using metamask or any wallet connect supported crypto wallet.
Use 1InchExchange NowBitSquare is a peer-to-peer marketplace for cryptocurrencies like BTC, ETH etc which requires no name, email ID or verification so there is no question of KYC or AML. Your privacy is secured because it uses Tor and doesn’t hold fiat or bitcoins on their servers or in their account. Currently, it supports 126 cryptocurrencies (including BTC) and is available on Windows, Mac, and Linux platforms. The trade volumes, however, are low. You can also follow @1InchExchange on Twitter for up-to-date information and news about the marketplace.
7. Bisq (aka BitSquare)
Bisq is a peer-to-peer marketplace for cryptocurrencies like BTC, ETH etc. It is a fully decentralized exchange that requires no name, email ID or verification so there is no question of KYC or AML. Bisq supports 126 cryptocurrencies (including BTC) and is available on Windows, Mac, and Linux platforms.
The trade volumes, however, are low. Sign up at BitSquareBisq has a mission is to provide a secure, private and censorship-resistant method of exchanging crypto for national currencies.”
8. Orion Protocol Trade
Orion Protocol is a dark pool liquidity provider, and it also offers a trading terminal where you can anonymously exchange cryptocurrencies. Trade at Orion Protocol couple of exchanges, you can engage in trading activity right after signing up, however, the registration process involves providing a phone number.
Thorswap is powered by Thorchain, which is the world’s first Multi-chain DEX that provides an interface to perform the cross-chain swap. What that meant for you is that you will be able to exchange Bitcoin for Ethereum permissionless and without KYC.
There are many more chains that are supported by Thorchain, and it is one of its kind. You can also trade items with other players or sell them to the general public. Thorswap is a safe website: your information is protected by secure encryption techniques. You can exchange items with anyone in the world, whether they are online or not.
ShapeShift is a company that allows you to trade cryptocurrencies without having to create an account or give away any personal information. They also do not collect any data on their customers. This makes it a great option for people who want to stay anonymous when trading cryptocurrencies.
ShapeShift is a well-known cryptocurrency exchange that does not require users to provide identification documents. This privacy-first approach has its downsides, as all assets are held on the platform until a refund claim is made within 90 days. If you’re looking for an anonymous cryptocurrency exchange to use as input, ShapeShift is a good option. However, if you need to liquidate your assets quickly, it may be better to use a different exchange.
Do all crypto exchanges require KYC?
All crypto exchanges, with the exception of a few permission-less swaps, require KYC. This goes against the basic tenant of decentralized currencies, which is why we are witnessing the development of decentralized infrastructure that puts privacy at the forefront.
Some crypto exchanges require KYC, while others do not. Binance is one example of an exchange that requires KYC. Changelly and 1InchExchange are other examples of exchanges that do not require KYC. Thorswap is an example of an exchange that allows for both fiat and Crypto transfers without requiring KYC.
Can I use Binance without KYC?
You can use Binance without kyc. Binance does not require KYC for users who want to buy or sell cryptocurrencies with fiat.
Is KYC mandatory for cryptocurrency?
There is a growing trend of decentralized infrastructure that puts privacy at the forefront. Cryptocurrency services without AML/KYC are becoming more popular. Permission-less swaps are one way to buy cryptocurrencies without KYC. No KYC exchanges are available for crypto Binance, Bybit, Changelly, 1InchExchange, Thorswap and Bisq are all without KYC requirements
Transactions on these platforms are still safe and secure. This is good news for those who want to buy or sell cryptocurrencies without having to go through the process of submitting their personal information.