Top 8 crypto exchanges that dont require KYC in 2022
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Top 8crypto-exchanges that dont require KYC in 2022
A few yearsago, the crypto sphere seemed eager to eliminate the burdensomeKYC verification process to give rise to a new kind of economy, where users canavoid the watchful eyes of tax agencies and make transactions withoutrestraint.
However, KYCin the cryptocurrency world has become an unavoidable reality for most cryptousers as regulators continue to strongly advocate the adoption of KYCand Anti-Money Laundering (AML) implementations to safeguard investors’security and protection against financial fraud. KYC is widely used byorganizations to manage transactions, trace criminal activity, and avoidterrorist financing.
But manyinvestors still believe that the KYC requirement is a barrier to the Bitcoin(BTC) Standard, which has favored anonymous peer-to-peer transactions.Even though most crypto exchanges have started adopting regulatory guidelines,investors have the option to choose crypto exchanges thatencourage greater anonymity by not imposing KYC processes.
Suchexchanges are essential for privacy-conscious users who want to buy and sell cryptocurrencieswithout revealing their identities. Following are some of the best KYC FreeExchanges.
ByBit
ByBit, a P2Pexchange for cryptocurrency derivatives based in Singapore hasapproximately 1.2 million registered users and specializes in perpetual swaps.The exchange has an average daily trading volume of more than $1 billion,indicating the platform’s market depth and capacity to execute orders rapidly.
The platformoffers one of the most intuitive mobile apps and a web-based trading terminal.It has features like one-click coin swaps, unlimited withdrawals, advancedorder types, and an advanced security system. ByBit is registered in UAE andhas offices in Taiwan and Hong Kong, countries that promote cryptoadoption.
KuCoin
KuCoin is a decentralized cryptoexchange that specializes in spot trading, margin trading, derivatives,mining pools, staking, and lending. The exchange allows customers to trade cryptocurrencieswith or without completing their KYC by making verification optional.Like most exchanges, KuCoin also has a limitation on tradingamount and volume without completing KYC. However, the restrictions are farless stringent than those of other crypto exchanges.
Changelly
Changelly is a centralized Altcoin swappingservice that does not compel users to complete KYC or AML to utilize itsservices. It offers a user-friendly service that enables users to buy cryptocurrencydirectly from their bank account without providing an ID. Users canwithdraw tokens worth 2BTC daily without needing any KYC. Users can use thisservice in conjunction with a VPN for further protection.
ShapeShift
Shapeshift is a cryptocurrency exchangefounded in 2013 and is based in Switzerland. The exchange transformed from acentralized to a decentralized company and lets users buy or sellcrypto without verifying their identity. With its simple user interface andwide range of payment options, the exchange is a user-friendly and convenientoption for those looking to trade cryptocurrencies anonymously.
1InchExchange
1InchExchange is a DEX aggregator and one of thetop non-KYC exchanges for ERC20 tokens. To find the best exchange rates, itdivides orders between other DEXs and private liquidity providers rather thanoperating as an exchange itself.
It is easyto connect a web3 wallet and then exchange ERC-20 tokens at the mostcompetitive prices. To obtain the best price for a whole transaction, theexchange further divides orders across various exchanges.
CoinEx
Founded in2017, CoinEx allows for the trading of more than 500 tokens,including its CoinEx token named CET, and over 860 trading pairs.The KYC verification procedure is only required from users who wish to withdrawmore than $10,000 in 24 hours.
The platformoffers a variety of tools and features that include fiat currency trading, aswap market, crypto mining, etc. CoinEx provides futures andmargin trading in addition to spot trading, only a few platforms provide theseservices to American investors.