KYC (Know Your Customer) rules and regulations have been implemented in several countries throughout the globe, including the United States, Canada, the United Kingdom, New Zealand, and Australia, to prevent banks and other financial institutions from being exploited by criminals for money laundering operations.
Today we will talk about the top 5 anonymous exchange crypto platforms.
Cryptocurrency Exchanges That Don’t Require KYC Verification
With over 6 million members, this Hong Kong-based exchange just surpassed Bittrex as the world’s most popular cryptocurrency exchange, with a $4 billion daily trading volume.
This includes the establishment of Binance Coin (BNB) on the Ethereum blockchain to enable a 50% decrease in costs, and a daily withdrawal limit of up to 2 BTC for customers with basic verification. To make the exchange even more appealing, users may earn BNB tokens and other benefits by recommending new members.
There are now two methods to get the Binance iOS app. You may either download the Binance iOS install file straight from the App Store or via the Safari browser. If you choose the latter option, you must trust the installation file under Settings General Device Management. Additionally, traders may find free trading bots for Binance to make the trading process more convenient.
The biggest benefit of manual installation is its independence from the App Store. Even if Apple chooses to remove it from their store, you may keep using it.
The popular US-based bitcoin exchange Kraken released an iOS app in 2014. Customers of Kraken may use the app to trade Bitcoin and other digital assets, read cryptocurrency news, and manage their accounts. Sadly, the software hasn’t progressed much since its first release, as seen by its 1.3-star rating. Despite the negative reviews, the app covers all the essentials and its archaic look isn’t difficult to adapt to.
Kraken has 5 verification tiers: 0, 1, 2, and 4. Tier 0 users may just submit their email and browse around. They can only deposit and withdraw digital money if they provide their entire name, date of birth, country, and phone number.
Tier 2 requires users to disclose their address. Tier 2 allows all users to deposit, withdraw, and trade digital money and certain users to finance with fiat currency.
Unlike the other two exchanges on this list, you do not need to register an account to utilize Shapeshift. Also, the firm behind it does not gather personal data from users. Due to this privacy-first policy, ShapeShift will maintain all user assets until the user requests a refund after 90 days following an exchange failure.
ShapeShift can swiftly and cheaply exchange Bitcoin and other blockchain assets. ShapeShift’s mobile app offers the same features as the website but in a pocketable style.
Changelly, like ShapeShift, is an anonymous cryptocurrency exchange service that facilitates rapid cryptocurrency wallet to wallet transactions. Changelly charges just 0.5 percent and protects consumers’ privacy by requiring simply an email address, without even verifying if the address is real or not.
However, Changelly is incorporated inside the Stratis app. With the Changelly app, you can buy and sell $STRAT in a few clicks. $STRAT is a cryptographic token that powers the Stratis blockchain and is one of the top cryptocurrencies by market cap.
5. Bitcoin ATM
If you reside in a jurisdiction that supports Bitcoin and other cryptocurrencies, Bitcoin ATMs may be your best choice for circumventing KYC verification. For iOS users, we suggest the Coin ATM Radar app. The software is free and offers a frequently updated map of Bitcoin ATMs from various firms.