The human right to anonymity is officially recognized by the UN. In theory, everything is fine, but in practice it is quite difficult to ensure anonymity. It is not surprising that cryptocurrencies were also perceived as a way to hide their financial activities from overly curious observers.
To make transactions on the blockchain, it is enough to have a cryptocurrency wallet. In the transaction record, only wallet addresses are recorded, but not the names of the participants in the transaction. Revealing the connection between wallets and establishing the name of the owner is difficult, but possible. But you must admit, it is unlikely that anyone will be seriously interested in a person who has changed 0.00005 BTC to USD right now.
It is technically easy to buy cryptocurrency today; several hundred cryptocurrency exchanges operate on the Internet. However, many of them require account verification.
Why verification is needed
KYC (“know your customer”) verification primarily protects the site itself from being used for illegal purposes. On the other hand, verified clients are more secure than anonymous ones. in addition to greater freedom of action within the framework of the exchange functionality, verification greatly helps in resolving controversial situations, such as losing a password or stealing coins as a result of a successful hacker attack.
Exchanges without verification
As a rule, for transactions with fiat currencies, verification is requested even by platforms with a fairly loyal attitude towards anonymous users.
Gate.io was launched back in 2013 and is considered to be one of the veterans of the industry. The platform supports more than 1,500 cryptocurrencies in more than 2,500 trading pairs, spot and margin trading is available to users. Deposit and withdrawal of funds – only in cryptocurrency, but it is also possible to buy coins for fiat. During its existence, there was not a single precedent with a hacking of the platform, but in 2021, a compensation fund was created on the exchange on a preventive basis. The exchange has its own token, internal codes are used to transfer funds between traders.
Verification on Gate.io is not required, but if you are not satisfied with the limits set, this is the only way to increase them.
MEXC is a cryptocurrency exchange with spot, margin, and futures trading, native MX token, and DeFi tools. The platform supports over 1400 coins and tokens in over 800 trading pairs. It is possible to buy digital coins from a bank card, through the p2p market it is also possible to buy and sell for fiat.
For greater account security, it is recommended to set up 2FA. You can trade on the exchange without verification, but unverified users cannot withdraw money.
StormGain is a young but quite promising project. Cryptocurrency exchange with good functionality, the ability to replenish an account from a card and many other features. The platform supports spot and futures platforms, it is possible to practice with a demo account. Verification is not required, just register an account. The crypto exchange has all the necessary licenses, publications in specialized publications. However, due to the youth of the project, there are very few user reviews on the network.
The trading platform is registered in the UK. A little over 100 coins and tokens are supported on the platform. You can deposit and withdraw funds in cryptocurrencies and in US dollars. Deposit and withdrawal commissions depend on the chosen payment method. The trading terminal is quite convenient, but the exchange only supports one type of orders.
LetsExchange fast cryptocurrency exchange service supports about 2000 coins and tokens. It doesn’t matter which of the coins, AVAX vs DOT looks more profitable in the long term from your point of view. It is important that on LetsExchange you can buy or sell almost any coins or exchange them at the current market rate.