You’ve probably seen ads for no KYC exchanges online, but have no idea where to start. It’s possible to buy and sell cryptocurrencies without ID verification on sites like CoinExchangePlace. But how do you know which sites are safe to use? Here are some recommendations:
Coinbase is a popular no KYC exchange that allows you to buy and sell more than 400 different cryptocurrencies. Located in India, Coinbase was among the first cryptocurrency exchanges to launch. The exchange has completed over a million transactions, and boasts over six million registered users. The website is also user-friendly and secure. You can choose the best one for you by comparing the prices of different cryptocurrencies. You’ll be glad you did!
While many exchanges operate under lax KYC standards, they’re still the preferred choice for many users. Binance, for example, recently transitioned from no-KYC to requiring it for all new customers. There are some alternatives available for users who don’t want to go through KYC, but full options are available only to users who meet the KYC standards. As the crypto world continues to mature, it’s likely that even major no-KYC exchanges will be pushed towards KYC standards.
If you’re looking for a no-KYC exchange, look for one with a high upper cap on crypto withdrawals. While exchanges might claim that they do this to prevent criminals from accessing their accounts, it’s still a good idea to find one with a higher cap. And as a final recommendation, consider whether the no-KYC exchange is reliable and secure. In fact, you’ll never know if your account has been compromised or stolen if a hacker steals it from its servers.
If you’re looking for a no-KYC exchange, look for one that is regulated by the SEC and is not affiliated with centralized crypto projects. Depending on the type of exchange, you might be able to get started without KYC, though you’ll have certain account restrictions until you’ve verified your identity. This is a huge step for many users, so consider whether you’d feel safe trading without KYC.
Some exchanges don’t use KYC at all. They require a photo to verify your identity and address. While they may have some perks, no KYC exchanges aren’t the best option. But if you’re looking for a no-KYC exchange that supports large volumes of money, you might consider Bitfinex. While Bitfinex was once a leader in the industry, it’s now one of the more popular exchanges, with no KYC requirements. However, the company has been involved in some questionable incidents, so beware!
