It’s common for bitcoin holders to look for anonymous cryptocurrency exchanges. The rationale is not implausible. Even if you’re only purchasing 0.0001 BTC, it isn’t a pleasant place to submit your personal information.
There is an escape route.
You can purchase Bitcoin and other cryptocurrencies without going through any KYC processes if you use anonymous crypto markets. You’ll also be able to skip the whole inspection process on crypto exchanges, where you’ll be required to take a selfie next to a robot webcam on occasions.
We’ve compiled a list of the top anonymous crypto exchanges that don’t involve KYC.
Like other cryptocurrency exchanges, Kraken is a centralized exchange which is developed in the aftermath of the Mt Gox incident. The platfrom claims to be the most secure, transparent and immutable. Along with crypto-to-crypto pairs, it also provides fiat to crypto trading for many base currencies including USD, EUR and GBP. Kraken has never been hacked and has maintained its security well, which is why its number of users is increasing day by day. Kraken became the second most popular cryptocurrency exchange in 2015 after it added support for Ether. Furthermore, it provides low fees on the majority of currency pairs and accesses more than 25 exchanges with CryptoWatch. Although, Kraken doesn’t have its own wallet and it does not provide any mobile application.
FTX is one of the fastest-growing crypto exchanges that does not require a KYC process for trading cryptocurrencies. The exchange also offers fiat deposits and withdrawals but in order to access them you need to go through a KYC. Passing KYC on FTX opens the door towards trading stock indices, commodities and fiat currency withdrawals and deposits. Overall, even if you don’t want to pass the KYC procedure, you have all of the crypto industruments at your disposal.
FTX is also one of the biggest exchanges as of March of 2021 and it competes to Binance in terms of trading instruments, daily trading volume etc… FTX is one of the better exchanges that does not have a mandatory KYC put in place.
Binance is led by Changpeng Zhao, who is recognized for his leadership skills as he managed to build a behemoth in the cryptocurrency industry. Binance is the biggest crypto exchange offering the highest number of cryptocurrencies and trading instruments. No KYC procedure is required in order to deposit and start trading cryptocurrencies, although you can pass a KYC process that opens fiat deposits and withdrawals and you can even order a binance debit card that can be loaded with Bitcoin and other cryptocurrencies directly through the platform.
KuCoin is another crypto exchange that does not require people to go through a KYC process. You can spot trade and withdraw cryptocurrencies with a value of up to 2 BTC without going through the KYC process.
Even so, if there is any unusual behavior linked with consideration or if consumers retract more than the 2 BTC stated for non-KYC accounts, the Singapore-based exchange may consider forcing customer accounts to go through the KYC process.