Money loves silence. This saying applies not only to fiat money, but also to digital сoins. That is why a large number of traders, before placing an order to buy or sell cryptocurrency, register on exchanges that do not require verification.
There are not many trading platforms that allow purchasing and selling digital assets without providing complete personal data, but they exist. At the same time, they are ready to work with traders on terms that are quite favorable for both parties.
Finding a cryptocurrency exchange without verification is not easy, especially when you consider the risks of trading on such platforms. In order not to miscalculate, users are advised to carefully study the reviews of such platforms. It is worth looking for responses on several resources in order to be able to compare and analyze them. Only after that it is worth registering on cryptocurrency exchanges and starting to trade assets.
Undoubtedly, when choosing cryptocurrency platforms focused on user`s anonymity, traders put themselves at risk. The use of such exchanges can harm the financial well-being of citizens, moreover, in a variety of ways:
- In case of a hacker attack on the exchange, a user will not be able to apply for compensation for losses and a refund, since he has not had a verified account on the platform;
- Some trading platforms will not be able to connect two- or three-step authentication to their account, if users do not pass the verification procedure, which will expose the account and traders’ funds to great risk, making them vulnerable.
Do not forget about the precautions. We are talking about possible attacks on the account, which can occur through the user`s fault. There are times when exchanges focused on user anonymity may ask traders to provide passport data to continue further cooperation. This is possible, since the activities of all exchanges directly depend on the instructions of financial regulators. At such moments, you should be very careful and double-check the information several times:
It is known that cryptocurrency exchanges are considered by representatives of the traditional financial system as a means of money laundering. However, many users are positive about exchanges that are still willing to work without verification. This is due to the ability to carry out operations that cannot be tracked or linked to a specific person.
TOP-5 cryptocurrency exchanges without verification
These exchanges have large volumes and are good for daily trading.
Binance
Binance is the largest platform developed by the leading Asian countries. The daily turnover of capitalization is more than $ 1 billion per day. It is famous for endless applications and opportunities: margin trading, proprietary BNB coin, the possibility of lending in cryptocurrencies and other advantages.
Verification is provided on Binance, but in fact, it is not needed. The need for identification is felt by traders who daily withdraw more than 2 BTC to their accounts. Up to this limit, you can trade without verification.
BitMEX
BitMEX has been operating since 2013 being able to break out into the leaders thanks to the competent management. It is very popular among professional traders, in addition, all cryptocurrencies on this exchange are liquid. This is an exchange with a very high daily trading volume. It does not require verification, this platform provides all the opportunities for anonymous trading. However, you should be prepared that the administration of the exchange may require verification at any time.
KuCoin
KuCoin is a major Hong Kong cryptocurrency exchange that was launched in 2017. This is a fairly young project, which, nevertheless, quickly gained its target audience.
Verification on the exchange is not a mandatory event. Non-verified users can trade anonymously up to 2 BTC per day. In addition, the site administration gives recommendations to users on how to pass the KYC verification. In the future, this can allow quickly restoring your account under various force majeure circumstances.
Also read: 5 Cryptocurrency Trading Sites You Should Consider
LiveCoin
LiveCoin cryptocurrency exchange has gained more popularity among traders. This platform contains many features, in particular, the lack of verification.
Accordingly, traders can trade on an anonymous basis. However, there is one small nuance:if transactions are carried out using a bank card, then the trader needs to verify his identity. Everyone can easily exchange Bitcoins for other cryptocurrency assets, including fiat money.
Godex
Godex is a reputable anonymous crypto exchange that entered the market with a high-quality exchange service. The project developers consider anonymity as an inalienable right of the platform`s users therefore there is no client`s registrations and personal data verifications. The big variety of coins ranging from Top players like BTC and ETH and the smaller perspective projects is constantly growing. Protection from the market jumps and falls with the fixation of the exchange rates until the completion of transactions.
Despite all the advantages that are really particular to anonymous trading, users are advised not to place a large number of digital assets on the accounts of such platforms. Otherwise, if the site is hacked, there will be no one to accuse.