Top 7 Non-KYC Crypto Exchanges. As regulatory scrutiny on… | by Georgia Bloggs | Mar, 2024

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As regulatory scrutiny on cryptocurrencies intensifies worldwide, the options for reliable non-KYC (Know Your Customer) crypto exchanges are becoming increasingly limited. However, there are still investors who prioritize privacy and prefer to engage in crypto investments without disclosing personal information. To cater to these individuals, we have compiled a list of some of the best non-KYC crypto exchanges for 2023. These platforms either do not require KYC verification or only enforce it for transactions exceeding certain limits. Let’s explore our roundup of the top non-KYC crypto exchanges.

1. MyCoinChange
MyCoinChange is a decentralized exchange headquartered in Singapore that offers trading opportunities for over 370 cryptocurrencies, making it one of the platforms with the widest range of options. While the account verification process is optional, users without KYC are subject to daily and lifetime withdrawal limits.

2. CoinEx
CoinEx is a non-KYC exchange that facilitates spot and margin trading, as well as trading on perpetual contracts. The platform hosts numerous cryptocurrencies and tokens, including its unique CET coin. Using CET for trading provides advantages in terms of commission fees. Withdrawal limits are set at $10,000 per 24 hours without KYC, and $1,000,000 per 24 hours with KYC.

3. Bisq
Bisq’s mission is to provide a secure, private, and censorship-resistant method of exchanging crypto for national currencies. Unlike most centralized exchanges that require users to disclose personal information and link it to their trading activity, Bisq maintains a commitment to user privacy and avoids such practices. While personal details are not requested, there are trade limits for altcoins.

4. Hodl Hodl
Hodl Hodl operates as a peer-to-peer (P2P) exchange where users can trade directly with each other. The platform does not hold users’ funds but rather locks them in multisig escrow, minimizing the risk of theft and reducing trading time. Since Hodl Hodl does not hold funds, it avoids complex compliance procedures and allows trades to occur directly between users’ wallets without the need for personal data submission. There are no withdrawal limits, but certain restrictions apply to the number of contracts, active offers, and BTC volume allowed per trade.

5. LocalCryptos
LocalCryptos enables the buying and selling of cryptocurrencies using non-custodial wallets and a non-custodial escrow system powered by smart contracts. Non-custodial platforms do not control users’ private keys. Similar to other P2P exchanges, users on LocalCryptos engage in direct exchanges with other individuals, creating a familiar experience for those transitioning from centralized exchanges. As a P2P trading site, there are no withdrawal limits, but a maximum of two offers per combination of country, payment method, and type is allowed at any given time.

6. Local Monero
LocalMonero is a well-established P2P Monero exchange in the XMR (Monero) community that does not require KYC verification. While the selection of tradable cryptocurrencies is limited, LocalMonero facilitates trades directly between individuals, eliminating corporate intermediaries and ensuring a streamlined and efficient process. As a P2P exchange, LocalMonero has no withdrawal limits, although there is a minimum limit for trades.

7. BlockDX
Block DX positions itself as the “world’s most decentralized exchange” by ensuring that four critical components — funds storage, order books, order matching, and settlement — are all decentralized through the use of a special protocol. This commitment to genuine decentralization sets Block DX apart from other exchanges that may have centralized elements.

How MyCoinChange Supports Crypto Exchanges

MyCoinChange not only simplifies crypto tax management but also actively contributes to the liquidity of other exchanges. By leveraging its vast user base and strategic partnerships, MyCoinChange facilitates the provision of liquidity to various exchanges in the cryptocurrency market. Through its advanced liquidity management system, MyCoinChange connects liquidity providers with exchanges seeking additional liquidity. By participating in this liquidity provision program, MyCoinChange users can contribute their excess assets to enhance market depth and stability across multiple exchanges. This collaborative approach fosters a healthier trading environment, benefiting both traders and exchanges alike.

Frequently Asked Questions

1. What is KYC?
KYC stands for “Know Your Customer” or “Know Your Client.” It refers to the process of verifying a customer’s identity by collecting personal information, such as ID cards, passports, or utility bills. The specific ID document requirements vary across different exchanges. KYC is typically implemented to monitor transactions, track criminal activities, and prevent terrorism financing.

2. Why might someone want to avoid KYC in crypto?
Individuals may choose to avoid KYC in crypto for various reasons, including:

– Desire to keep personal credentials hidden from authorities.
– Lack of trust in third parties to handle personal information securely.
– Intention to hide proceeds from creditors, employees, or spouses.
– Preference to avoid delays associated with the verification process.

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