Anonymous cryptocurrency exchanges without document verification (2022)

Anonymity is a scarce commodity. It’s getting harder and harder to get it and keep it, and let’s face it, less and less people care about it. Even so, the cryptocurrency community still believes that providing cryptocurrency exchange opportunities without document verification or disclosure of personal information is imperative.

Despite the fact that most users choose exchanges that require sending an ID card, passport, and sometimes even a bank account, anonymous cryptocurrency exchange services are closest to the original idea of social exchange where trust is delegated to a computer algorithm.

Why is the emphasis on privacy so important? A popular scheme: sending an ID card to the exchange, bank transfer, investing in cryptocurrencies, converting to national currency, withdrawing to a bank account is a safe way, but it has several disadvantages. We provide all our basic data so that the transaction is visible to those interested in our behavior, our finances and interests. Hence, it is only a step away from selling information about profiled users to marketers, banks and, even worse, broadly understood administration. It is worth thinking about it in advance.

The price bubble invited investors to put money into blockchain projects without much scrutiny. Then only the investors started the process in which those who had already bought wondered where to invest cryptocurrencies (soon in time).

On the wave of popularity of cryptocurrencies, fewer and fewer investors pay attention to an extremely important factor that may affect future success. It’s about anonymity, often overlooked aspect. The mainstream entering the crypto chooses the route: cryptocurrency exchange account, top up with bank transfer, investment in cryptocurrencies, payment to dollars, back to a bank account. This is a safe way, but has several drawbacks: investment in cryptocurrencies becomes clear to big data operators, who immediately sell information about profiled users to marketers, banks and, what’s worse, government agencies. Can you avoid this?

Is it still possible to use anonymous cryptocurrency exchange in 2022? No document upload means no verification.

Is privacy the risk most crypto investors avoid?

If you accept a higher risk to achieve anonymity and also buy for long-term holding, use the anonymous cryptocurrency exchange where there is no document verification. You do not need to send ID, passport or driving license, which is often required by the western crypto exchange or ICO. It is obvious to state that such Bitcoin exchanges without verification are going to be used for trading only. Right after making transaction all cryptocurrency is going to be withdrawn to safe, offline wallet.

What makes an exchange anonymous?

The anonymous cryptocurrency exchange is characterized by the fact that it allows you to make transactions, deposits and withdrawals without the need to send them documents. Just sharing your ID card, passport or driving license with the cryptocurrency exchange is at least as risky as with any other private business.

Cryptocurrency exchanges are required to reasonably process personal data under the complex legal provisions of the jurisdictions in which they are located. Often times, large document databases are a great asset of companies operating stock exchanges, and they face many temptations. Anonymous cryptocurrency exchanges do not have these problems.

Since the most popular cryptocurrency exchange Binance has required identification some users started looking for an alternative.

Anonymous cryptocurrency exchange sites list

For starters, the following, selected cryptocurrency exchanges of choice are BitFinex and KuCoin. Let’s consider advantages and disadvantages.

Anonymous cryptocurrency exchange BitFinex

BitFinex is an exchange that returns to our list after re-opening the registration after a temporary break. Too high popularity of the exchange meant that it was unable to handle the increased influx of customers. The problems have now been resolved and the infrastructure has been improved.

The BitFinex exchange declares the highest liquidity in the world. A huge number of users trade in the Bitcoin, Ethereum, EOS, Ripple, NEO markets, so you can always find the other side of a transaction or speculative bet. The exchange is also prepared for the requirements of more advanced traders, offering various types of orders and mechanisms to take advantage of the market situation.

Anonymous cryptocurrency exchange KuCoin

Cryptocurrency Exchange KuCoin offers not only anonymous trading, but also very interesting crypto passive income opportunity. On the other hand, they don’t even try to hide with their motto, which is “People’s Cryptocurrency Exchange”, which immediately reminds us about political climate of China. 

What are the advantages of KuCoin? No verification, anonymity, simplicity of the site and registration, the lowest commission among serious exchanges. Make sure you learn about KuCoin Shares, native KCS token, which allows users to participate in exchange’s profits. Free registration is opened at KuCoin.

What about other anonymous CeFi exchanges?

CryptoExchange Mercatox offers some niche cryptocurrencies with potential. This UK’s exchange is quite old school now, but still doesn’t require authentication or documents to buy and sell coins.

DeFi exchange

Surprisingly, you can anonymously exchange tokens using Decentralized Finances, DeFi. Just log into with your MetaMask to Uniswap or any other token aggregator. Remember, you need some ETH to pay the fees.

Anonymous cryptocurrency exchange sites summary

It is worth remembering that if you have an account on the cryptocurrency exchange without verification, our only confirmation of ownership is an e-mail address (and possibly a phone number, if we have provided it). In case of problems, we are left with the legal rules of the country in which the company operating the stock exchange operates.

Please note that when we need to enforce the law, it may be related to travel to that country, legal representation, or other inconvenience. The easiest way is to buy small amounts of cryptocurrencies in a Bitcoin ATM, and then start your adventure on the exchange, getting to know the world of cryptocurrencies deeper and deeper. By applying common sense and safety, most risks can be avoided.

If you are planning to regularly buy and sell Bitcoins, Ethereum and other blockchain tokens, you should seriously consider how are you going to manager your personal data. Due to increased interest of governments and offices, several laws like AML (Anti Money Laundering) or KYC (Know Your Customer) has been applied to the framework of cryptocurrency exchanges. Make sure you are following the line of law of your origin, but also keep in mind your portfolio’s security.

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