KYC or Know Your Customer is a process that verifies the identity of customers through verifying important documents such as ID, passport, and driver's license. This process can also take a phone number and home address. Exchanges that need one to complete the process do not allow buying, selling, or trading digital currency anonymously. However, it is not 100% secure to provide your important information for verification.
No KYC exchanges are becoming a norm seeing that there are many decentralized exchanges. As a result, it will make centralized exchanges do away with KYC requirements. In addition, no KYC exchanges allow traders to:
There are many cryptocurrency exchanges today. Some are spammy; after you sign, deposit, or withdraw, they ask for documents or other forms. You can avoid this trap by knowing legit exchanges.
Here are some of the five crypto exchanges that don't Require KYC
ZB is one of the leading cryptocurrency exchanges launched in 2017. It gives exchange to crypto-fiat as well as crypto-crypto trading pairs. ZB is among the top 20 cryptocurrency platforms by trading volume. Therefore, users can trade against various markets. For example, trade cryptocurrencies against Bitcoin( BTC), Tether(USDT) and Qcash(QC). Moreover, users can trade privately without sharing their personal information. Besides that, it implements new and high-quality security measures to make sure users' funds are safe. You can use your mobile device to download the application and trade.
Binance is a cryptocurrency exchange founded in 2017 by Changpeng Zhao. It provides a platform to trade a wide range of cryptocurrencies. In April 2021, Binance was ranked as the largest exchange platform in the global trading volume.
Binance has launched two cryptocurrencies known as Binance Coin(BNB), launched in June 2017 and Binance Smart Chain(BSC), launched in 2020. In 2021, Binance Coin became the third-highest cryptocurrency in the market.
You can install Binance mobile app in two ways on iOS. Either access the app store and install directly or use the Safari browser to download the Binance iOS install file.
Kraken is a cryptocurrency exchange based in the US and was founded in 2011 by Payward, Inc. It allows users to trade digital assets, manage personal accounts, and access cryptocurrency news. Kraken offers five verification tiers starting from tier 0 to 4.
Shapeshift is a company founded in July 2014 by Erik Voorhees. It offers trading of diverse digital assets on mobile and web platforms. Additionally, it does not take personal information from clients. You need to choose cryptocurrency exchanges and use them as input and output, then give your address, click "I agree to Terms," and click the "start transaction button."
Changelly is a cryptocurrency swap platform that provides diverse cryptocurrencies and serves as an exchange place between users and crypto exchanges. It allows fast transfer of cryptocurrency wallets across many cryptocurrencies. This platform protects user's information and only requires one to submit an email address and does not verify the address.
Tip: it is recommended to create a new email account by using Protonmail. Also, use no logs VPN or browser such as Brave to access the exchange platforms. This will prevent your activities from being tracked hence privacy.
As mentioned above, ZB is among the top no KYC exchanges. It offers a KYC- free withdrawal limit of 1000USDT.
Other pros of ZB. com include