KYC (Know Your Buyer) is among the key parameters for any service that offers with cash. Monetary establishments put it to use to determine their purchasers and consider/monitor their threat. KYC verifies {that a} buyer is who they declare to be. Respecting KYC guidelines aids in stopping widespread fraud schemes, akin to cash laundering and terrorism financing.
Then again, KYC is a critical privateness menace. 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 data would possibly begin a fictitious account in your title. They will launder tens of millions of {dollars} by way 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 also can perform impersonation assaults utilizing stolen identities.
That’s the explanation why merchants use nameless cryptos (Monero, Sprint, and Zcash) and look just for DEXs. Nonetheless, many individuals nowadays need 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 secure atmosphere on Godex — a privacy-focused cryptocurrency change. Godex permits clients to change greater than 300 cash at a hard and fast price.
The group has determined to not collect and retailer consumer information due to the confidentiality and personal nature of cryptocurrencies. Godex protects the shopper’s proper to privateness and monetary safety on this approach.
Go to this hyperlink — https://godex.io/change/dgb-to-btc to verify the location is working in absolutely computerized mode. The one case the place people work together is while you contact 24/7 buyer help.
2. PrimeXBT
A one-stop buying and selling platform, PrimeXBT permits shopping for and promoting cryptocurrencies, nearly all of vital inventory indexes, commodities, and foreign currency echange.
It additionally contains an revolutionary “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 may predict short-term worth actions utilizing its “turbo” buying and selling function. In case your prediction is correct, you shortly flip a double-digit revenue. Sadly, PrimeXBT is unavailable in 14 nations, together with the USA and Canada, and this has an influence on its rating amongst merchants.
3. Binance
Binance provides you a protected atmosphere with a sturdy platform and a wide array of cash. Different cryptocurrency providers offered by Binance embody P2P buying and selling, financial savings, investing, staking, and many others.
The Binance app provides the best buying and selling expertise (clear charts, real-time pricing, and simple purchase/promote order execution), and is straightforward to make use of with a very good UI.
Whereas the platform permits non-verified customers to leverage some performance, with KYC authentication, a dealer can entry quite a lot of extra cryptocurrency buying and selling choices. They embody margin buying and selling, futures contracts, perpetual contracts, buying and selling bots, and lending/borrowing providers.
Additionally learn: The way to Select a Cryptocurrency Change Platform?
4. KuCoin
A cryptocurrency change KuCoin moved to Hong Kong from China looking for a extra hospitable regulatory atmosphere. It has a robust status for being reliable, safe, and user-friendly (ideally suited for freshmen).
KuCoin is famend for being an early adopter of latest digital cash. It at the moment lists over 500 cryptocurrencies and tokens. The service will probably be useful to merchants who need to experiment with novel cryptocurrencies.
Moreover, KuCoin provides a local crypto KuCoin Shares (KCS) that helps a consumer loyalty program.
5. Bisq
Bisq is a decentralized cryptocurrency change with servers unfold internationally. On account of its decentralized nature, Bisq is safer than typical exchanges and permits P2P Bitcoin buying and selling. Due to its decentralized autonomous group (DAO), Bisq has quite a lot of advantages as a result of it isn’t primarily based in a single place or state.
Customers can safely buy and promote cryptocurrencies utilizing the user-friendly, decentralized, blockchain-based buying and selling platform.