Top 5 crypto exchanges that do not require KYC verification



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Top 5 crypto exchanges that do not require KYC verification

KYC (Know Your Customer) is the process of recognizing or distinguishing a real person from a fake account. This process takes place by taking a picture of a personal document (identity card, passport) and sending a selfie, after which the two photos are compared.

KYC is a standard procedure when working with cryptocurrencies. However, the KYC process in the cryptocurrency world has become an inevitable reality for most crypto users as regulators continue to strongly advocate the adoption of KYC processes and anti-money laundering (AML) implementations to keep investors safe and protect against financial fraud.

KYC is widely used by organizations to manage transactions, monitor criminal activity and avoid terrorist financing. Many investors still believe that the KYC requirement is an obstacle to the Bitcoin Standard (a decentralized alternative to central banking), which favored anonymous peer-to-peer transactions.

Although most crypto exchanges have begun to adopt regulatory guidelines, investors have the option of choosing crypto exchanges that encourage greater anonymity without imposing a KYC process. Such exchanges are crucial for privacy-conscious users who want to buy and sell cryptocurrencies without revealing their identity.

Binance


Binance, one of the largest crypto exchanges ensures the anonymity of customers and protects their funds with state-of-the-art security and strict data privacy protection measures. This includes a risk management system, real-time monitoring and advanced data privacy protection tools.

Users do not need to complete the KYC process if their daily withdrawal limit is less than 2 BTC. Binance recently updated the daily withdrawal limit for non-KYC users, and now allow a daily withdrawal of 2000 USDT for users who have done basic verification.

The stock exchange strives to become a licensed financial institution, which enables it to cooperate closely with government agencies in combating illegal activities. The simple and intuitive user interface of the exchange makes it very easy to use.

The exchange offers a number of features, including margin trading and a variety of order types, making it suitable for both beginners and experienced traders. Binance is registered in Malta and is outside the jurisdiction of the US, China or other countries that require user data.

Bisq


Bisq is a cryptocurrency exchange that offers a decentralized exchange (DEX) where users can buy and sell cryptocurrencies without identity verification. The exchange does not require a name or email ID, and users can trade on this exchange even without registration.

Bisq does not provide any centralized services as it is a peer-to-peer trading network. Users can connect and transact with other BISQ network users using simple software that they run on their computer or mobile device. Bisq automatically hides wallet information (like public keys and such) from all parties involved in the trade.

Since Bisq is a decentralized exchange, no one can control it. Users maintain the exchange because it does not require an external entity to function properly. This is in stark contrast to most other exchanges, which are centralized and therefore much more vulnerable to attack.

This platform allows users to trade cryptocurrencies without fear of being tracked or monitored.

Bybit


ByBit, a P2P cryptocurrency derivatives exchange based in Singapore has approximately 1.2 million registered users and specializes in permanent swaps.

The exchange has an average daily trading volume of more than $1 billion, which indicates the depth of the market and the capacity of the platform to execute orders quickly. The exchange allows users to withdraw 2BTC worth of tokens per day without the need for a KYC process.

Users can apply from anywhere in the world, unless they live in one of the sanctioned countries or in the USA. The application process is quick and easy. The platform offers one of the most intuitive mobile applications and trading terminals on the web.

It has features like one-click cryptocurrency exchange, unlimited withdrawals, advanced order types and an advanced security system. ByBit is registered in the UAE and has offices in Taiwan and Hong Kong, countries that are promoting crypto adoption.

KuCoin

KuCoin is a decentralized crypto exchange that specializes in spot and margin trading, derivatives, staking and lending. The exchange allows clients to trade cryptocurrencies with or without completing KYC by making verification optional.

Like most exchanges, KuCoin also has a limit on trading amount and volume without completing KYC. However, the restrictions are much less strict than other crypto exchanges.

ShapeShift


ShapeShift is a cryptocurrency exchange founded in 2013 and headquartered in Switzerland.

The exchange has transformed from a centralized to a decentralized company and allows users to buy or sell crypto without identity verification. With its simple user interface and wide range of payment options, the exchange is a simple and convenient option for those who want to trade cryptocurrencies anonymously.