Is it possible to buy and sell cryptocurrencies without providing ID verification on exchanges?

3 answers

• Dec 29, 2021 · 3 years ago
  Yes, it is possible to buy and sell cryptocurrencies without providing ID verification on certain exchanges. These exchanges are known as decentralized exchanges (DEXs), where users can trade directly with each other without the need for a central authority. However, it's important to note that not all cryptocurrencies may be available on DEXs, and liquidity might be lower compared to centralized exchanges. Additionally, DEXs may have their own verification requirements for certain activities, such as withdrawing large amounts of funds.
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• Dec 29, 2021 · 3 years ago
  No, most centralized exchanges require users to go through a KYC (Know Your Customer) process, which includes providing ID verification, before they can buy and sell cryptocurrencies. This is done to comply with regulatory requirements and prevent money laundering and other illegal activities. However, there are some exchanges that offer limited trading options without ID verification, but these options may have lower trading volumes and fewer available cryptocurrencies.
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• Dec 29, 2021 · 3 years ago
  At BYDFi, we understand the importance of user privacy and security. While we do require ID verification for certain activities, such as withdrawing large amounts of funds, we also offer options for users to trade cryptocurrencies without providing ID verification. Our platform provides a range of trading options to suit different user preferences, including both centralized and decentralized exchanges. We prioritize user privacy and take measures to ensure the security of our users' personal information.
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