This post is about cryptocurrency exchange without KYC that is they do not require users to do KYC for the withdrawal of crypto from their accounts.
What is KYC?
Think of KYC as the process of getting to know your customer.
Just like on social media you would get to know someone before becoming friends with them, similarly, financial institutions need to understand who their customers are before entering into a financial relationship with them.
Know your customer (KYC) is the process of a business identifying and verifying the identity of its customers. The term is also used to refer to the bank regulation which governs these activities. KYC procedures are typically used to prevent money laundering and combat terrorist financing.
In order to comply with KYC regulations, financial institutions must obtain certain information from their customers, such as name, date of birth, address, and identification number.
What is the use of KYC in Crypto exchange?
Cryptocurrency exchanges are popping up everywhere. Many of them offer investors the ability to trade without having to go through the know-your-customer (KYC) process. This can be a great benefit for those who value their privacy.
However, there are some risks associated with trading on these exchanges. The most notable risk is that you may not be able to withdraw your funds if the exchange is shut down by authorities.
Why there is a need for cryptocurrency exchange without KYC?
In recent years, cryptocurrency exchanges have been increasingly requiring their users to undergo know-your-customer (KYC) procedures.
However, there are still a number of exchanges that do not require KYC. These exchanges allow users to trade anonymously, without having to provide any personal information.
There are several benefits to trading on a KYC-free exchange. First, it allows users to maintain their privacy. Secondly, they save the time required to complete KYC, as a result, withdrawals, and deposits can be fast.
10 Best Cryptocurrency Exchanges without KYC?
The KYC process, which involves providing identifying documents in various countries, is used to confirm the identities of users of a particular service.
Don’t worry; there are many solutions available to you if you’re seeking a cryptocurrency exchange without KYC. These exchanges are equally trustworthy and secure; the only distinction is that KYC updates are not necessary for users on these platforms.
- Huobi Global
Let us now know in brief about all these anonymous crypto exchanges that allow withdrawals without KYC.
One of the most well-known derivatives exchanges, it would gain popularity if KYC was implemented. This exchange was established in 2018 and is based in Singapore.
Bybit is a Cryptocurrency exchange without a KYC process.
Within just a few years, it rose to the top thanks to its volume, speed, and interface. Bybit offers a wide selection of crypto margin trading tutorials that include practical advice and methods for trading crypto derivatives. If you want to read more about Bybit there you can read this Bybit Review and get the full detail of the exchange.
The good news is that neither registration nor trading involves the need for KYC, however, trading is not available to residents of the United States.
One-click coin swaps, an intuitive UI, limitless withdrawals, a sophisticated security system, and advanced order kinds are some of its advantages.
Binance is yet another top cryptocurrency exchange without KYC; it accepts all Altcoins and allows users to access it anonymously.
With Binance, you may trade, withdraw money, and make deposits without having to update KYC for every user, and you can withdraw up to 2 Bitcoins every day.
They provide access to derivatives trading, loans, crypto mining pools, futures trading, and branded cryptocurrency debit cards, so you can do more than just spot trading with them.
Also, read Binance’s full review.
All you need to open an account with them is an email address, and the good news is that spot trading is also allowed without any KYC. However, you should be aware that in order to use the site, users who trade bigger amounts of BTC must complete KYC. Know about 10 ways to earn Bitcoin (BTC)
However, U.S.A. users would need to use Binance U.S. as it is compulsory for them to update KYC.
It is a centralized altcoin swapping service, and using it does not require users to provide their KYC information. So it is a cryptocurrency exchange without a KYC process.
Instant transfers between crypto wallets across various cryptocurrencies are also made possible through an anonymous cryptocurrency exchange. Since its 2013 debut, this platform has supported more than 150 coins. If you want to learn more about Changelly then read this Changelly review.
Changelly offers support for a number of alternative currencies, including ETH, LTC, DASH, and others, in addition to BTC. This implies that if you own any altcoins, you might buy BTC without having to provide any identification. Only if they see any suspicious behavior on or from the user’s account will you be required to complete KYC.
With KuCoin, users would not be forced to complete verification unless they desire to exceed the 2 BTC daily trading limit or until they notice any disagreeable or suspicious activity in the account.
This platform is one of several exchanges that use partial KYC or you can say it is a cryptocurrency exchange without KYC. Due to its wide selection of coins, this platform is regarded as one of the greatest alternatives to Binance. The platform that is most frequently suggested for cryptocurrency was introduced in 2017.
On KuCoin, you could engage in lending, spot trading, margin trading, derivatives, mining pools, and crypto staking. Additionally, the trading cost structure is fairly reasonable.
This is one of the best cryptocurrency exchanges without KYC verification as it enables you to trade cryptocurrencies at the best prices.
This exchange was established in 2017 and has its headquarters in India.
Additionally, you can buy bitcoin without using credit or debit cards like Visa or Mastercard.
Its transaction cost is unclear because it works with several exchanges. People use CoinSwitch because it doesn’t require KYC, offers a wide range of cryptocurrencies, is simple to use, and allows for fiat transactions.
Bitfinex is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. Founded in 2012, Bitfinex was one of the first professional platforms set up to accommodate the booming interest in cryptocurrency trading.
Bitfinex offers to order books with top-tier liquidity, allowing users to easily exchange Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, and many other digital assets with minimal slippage.
Bitfinex allows up to 10x leverage trading by providing traders with access to the peer-to-peer funding market.
Users wishing to deposit/trade/withdraw most cryptocurrencies are not required to verify their account as it supports the concept of cryptocurrency exchange without KYC.
The daily limit for Non-KYC is up to 10 BTC in 24 hours.
The PrimeXBT trading platform, one of the newer platforms currently out there, offers just about everything you could need from a trading platform, such as Bitcoin-based accounts, the choice of 30 assets, in addition to lower leverage for more anonymity.
The account creation process is anonymous and will allow you to maximize the potential for profits. Read the complete and full detailed review of PrimeXBT here.
PrimeXBT is a cryptocurrency exchange without a KYC process.
Users can withdraw any amount of money from a PrimeXBT account as there is no limit and the KYC process is not required to complete withdrawals.
8. Huobi Global
Huobi provides a wide array of digital asset trading and management services to satisfy diverse trading needs.
Another of the world’s leading cryptocurrency exchanges is Huobi, especially when it comes to margin and spot trading in Bitcoin. This website is still another highly-performing cryptocurrency platform that’s been around for quite some time.
Eager to know more about then you can read this HuobiGlobal Review.
Users can withdraw up to 0.1 BTC in 24 hours without KYC. Huobi is also a cryptocurrency exchange without KYC process to some extent.
Coinex is a cryptocurrency exchange created in December 2017. The exchange is based in Hong Kong and is owned by the Coinex Group. The exchange offers trading in a variety of cryptocurrencies, as well as fiat-to-crypto and crypto-to-fiat pairs. Coinex has been praised for its low fees, high liquidity, and rich features.
Coinex offers its customers a worldwide derivative marketplace with a derivative trading engine for a wide variety of coins. The platform also has up to four coins with common changes, this consists of BTC, BCH, ETH, and LTC. Coinex provides an intuitive simple-to-use platform and unauthenticated signatures.
Users can withdraw up to $10,000 from their CoinEx account without KYC in 24 hours.
The stormgain crypto exchange is one of the most user-friendly platforms for buying and selling cryptocurrencies. It offers a wide range of features that make it an ideal choice for those looking to get started in the world of digital currencies.
The platform is easy to use and has a simple interface that makes it perfect for beginners. In addition, the stormgain cryptoexchange offers a variety of payment methods, making it a convenient option for those looking to buy or sell cryptocurrencies. How to earn up to $50 from Stormgain, read in this Stormgain review.
For withdrawal from Stormgain, there is no requirement to do KYC and the user can withdraw any amount of money as it is a cryptocurrency exchange without KYC.
In conclusion, it is clear that there are many benefits to using a cryptocurrency exchange without KYC. For one, it is much more convenient and faster than using a traditional exchange. Additionally, it is more private and secure, as well as more affordable. Overall, it is a great option for those looking to trade cryptocurrencies.
By using a decentralized exchange, you can trade without having to provide any personal information. This allows you to trade anonymously and keeps your personal information safe.