KYC (Know Your Buyer) is without doubt one of the key parameters for any service that offers with cash. Monetary establishments put it to use to establish their shoppers and consider/monitor their danger. KYC verifies {that a} buyer is who they declare to be. Respecting KYC guidelines aids in stopping frequent fraud schemes, comparable to cash laundering and terrorism financing.
However, KYC is a critical privateness risk. Let’s study the doable repercussions:
- Your privateness has been compromised in case you have ever handed the KYC process of the affected cryptocurrency exchanges.
- Anybody with entry to your private information would possibly begin a fictitious account in your title. They will launder tens of millions of {dollars} by means of phony crypto change accounts.
We’re approaching the purpose the place tens of millions of individuals’s privateness could also be jeopardized by a universally enacted KYC course of. Potential hackers can even perform impersonation assaults utilizing stolen identities.
That’s the rationale why merchants use nameless cryptos (Monero, Sprint, and Zcash) and look just for DEXs. Nonetheless, many individuals nowadays wish to purchase some bitcoins. Right here’s how one can swap your XMR to BTC whereas having fun with anonymity.
Additionally learn: AI Powered Doc Verification and the Evolution of KYC in Telecom
5 Non KYC Required Bitcoin to Monero Exchanges
1. Godex
Customers can commerce crypto in a protected surroundings on Godex — a privacy-focused cryptocurrency change. Godex permits prospects to change greater than 300 cash at a hard and fast fee.
The staff has determined to not collect and retailer consumer information due to the confidentiality and personal nature of cryptocurrencies. Godex protects the consumer’s proper to privateness and monetary safety on this method.
Go to this hyperlink — https://godex.io/change/dgb-to-btc to verify the location is operating in absolutely automated mode. The one case the place people work together is once you contact 24/7 buyer assist.
2. PrimeXBT
A one-stop buying and selling platform, PrimeXBT permits shopping for and promoting cryptocurrencies, the vast majority of vital inventory indexes, commodities, and foreign currency.
It additionally contains an modern “masking” operate. It lets you view and imitate the buying and selling strikes of the web site’s prime buyers, along with permitting margin buying and selling as much as 100x.
Furthermore, you’ll be able to predict short-term value actions utilizing its “turbo” buying and selling function. In case your prediction is correct, you rapidly flip a double-digit revenue. Sadly, PrimeXBT is unavailable in 14 international locations, together with america and Canada, and this has an impression on its rating amongst merchants.
3. Binance
Binance gives you a protected surroundings with a sturdy platform and a big selection of cash. Different cryptocurrency companies offered by Binance embody P2P buying and selling, financial savings, investing, staking, and so forth.
The Binance app gives the best buying and selling expertise (clear charts, real-time pricing, and easy purchase/promote order execution), and is easy to make use of with an excellent UI.
Whereas the platform permits non-verified customers to leverage some performance, with KYC authentication, a dealer can entry a wide range of further cryptocurrency buying and selling choices. They embody margin buying and selling, futures contracts, perpetual contracts, buying and selling bots, and lending/borrowing companies.
Additionally learn: How one can Select a Cryptocurrency Trade Platform?
4. KuCoin
A cryptocurrency change KuCoin moved to Hong Kong from China searching for a extra hospitable regulatory surroundings. It has a powerful status for being reliable, safe, and user-friendly (splendid for learners).
KuCoin is famend for being an early adopter of recent digital cash. It at present lists over 500 cryptocurrencies and tokens. The service can be useful to merchants who wish to experiment with novel cryptocurrencies.
Moreover, KuCoin gives a local crypto KuCoin Shares (KCS) that helps a consumer loyalty program.
5. Bisq
Bisq is a decentralized cryptocurrency change with servers unfold the world over. Attributable to its decentralized nature, Bisq is safer than standard exchanges and permits P2P Bitcoin buying and selling. Because of its decentralized autonomous group (DAO), Bisq has a wide range of advantages as a result of it isn’t based mostly in a single place or state.
Customers can safely buy and promote cryptocurrencies utilizing the user-friendly, decentralized, blockchain-based buying and selling platform.
