However, if you’d like to start trading and only use cryptocurrencies, chances are that you’d be able to do so without having to pass KYC. All Crypto Exchanges may look similar to you but they’re NOT all the same! Do note that, while it is possible to avoid a direct deposit and use a third-party payment gateway to purchase crypto on BYDFi, that third party will require you to pass KYC checks, either way. The fiat-usage KYC requirement is mostly relevant for users who’d like to make a fiat deposit on BYDFi before they start trading.

So let’s dive into the world of anonymous crypto trading and explore the benefits of these top-rated low-KYC and non-KYC exchanges! KYC, or Know Your Customer, is a regulatory requirement that financial institutions must follow to identify and verify the identity of their customers. The purpose of KYC is to prevent financial crimes such as money laundering, terrorist financing, and fraud. As the use of cryptocurrencies has become more prevalent, governments around the world have increased their regulatory scrutiny of cryptocurrency exchanges, leading to the adoption of KYC practices. Best No-KYC Crypto Exchange: But Wait, What is KYC? Before discussing the best no-KYC crypto exchanges, let’s first address the question: what is KYC?

Here are other crypto exchanges related to the category but not as favored by BitDegree readers yet. In my personal opinion, today there are much more optimal crypto exchanges in the list with the higher rating that I’d recommend for the same price range or less. Poloniex is a popular cryptocurrency exchange that offers Level 1 accounts to no-KYC users, making it an ideal choice for traders that want to remain anonymous. With this account, users can enjoy many features, including spot and futures trading.

Crypto Margin Trading

KuCoin is a popular centralized cryptocurrency centralized exchange (CEX) that was founded in 2017. The platform has gained a reputation for its user-friendly interface. A vast selection of cryptocurrencies available for trading. These accounts have a withdrawal limit of 1 BTC per 24 hours, which is quite generous for an unverified account on a trustworthy exchange. Because of that, there’s no way I could leave it out of this best no-KYC crypto exchanges list. For cryptocurrency privacy advocates who prefer not to disclose their personal information, KuCoin’s no-KYC verified account option is an excellent choice. While the exchange implemented KYC policies in 2018, it still offers no-KYC verified accounts that can access deposits, withdrawals, and trading, albeit with certain limitations.

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