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5 Great Crypto Exchange Platforms that Don’t Require KYC Verification

Wayne Jones • Sep 02, 2020

KYC (Know Your Customer) guidelines are a prominent feature in financial systems. KYC is part of the wider Anti-Money Laundering (AML) policies that reduce the risks in financial transactions. KYC refers to the process of verifying the identities of the individuals using a service, and in most countries, it involves providing some identification documents.



Following the numerous risks in the crypto world, many exchanges nowadays require KYC checks. The procedures are especially standard in centralized exchanges. KYC procedures help reduce the cases of illegal activities in crypto exchanges, which have been rampant in recent years. However, they also interfere with anonymity in crypto exchanges, which is crucial for many investors. 


Investors who would rather not give their personal information to trading platforms may have a harder time finding an exchange that accommodates them. Luckily, several crypto trading platforms allow people to trade without KYC verifications. Here are the top 5 exchanges that you should be on the lookout for if you’d rather remain anonymous when crypto trading. 


Block DX


Block DX is a decentralized exchange (DEX) powered by Blocknet Protocol. The Blocknet, which is a blockchain interoperability protocol, allows private and public blockchains to communicate, interact, and for users to exchange crypto across the platforms. Additionally, the protocol allows the connection to external off-chain APIs and services. 


Unlike other decentralized exchanges, Block DX decentralizes all components of the platform. Although it mimics a centralized exchange experience, users can transact directly from their wallets without an intermediary. Some of the features that make Block DX stand out include no accounts, greater flexibility thanks to no withdrawal and trade limits, and trading pair freedom. To take an existing order, users only need a small amount of BLOCK, the platform’s native token. However, creating an order doesn’t require any BLOCK tokens. 


ByBit


ByBit is a Singaporean exchange founded in 2018. Crypto enthusiasts believe the platform could grow exponentially with the introduction of KYC procedures, but the derivatives futures exchange platform is yet to put these measures in place. 


ByBit offers a variety of features, especially for traders who would love to venture into margins trading. The BTC-USD perpetual swap is the most popular product, and users can also trade XRP, ETH, and EOS. Besides, the platform provides a variety of crypto margin trading guides that contain useful tips and tricks for swapping crypto derivatives. 


Users from most parts of the globe can use ByBit without KYC verification. The platform provides a neat user interface that is available 24/7 and in different languages. The platform also offers an iOS and Android mobile app for easier access to the exchange. However, it is worth pointing out that ByBit bars US users from trading on the platform. 


Changelly


If you need to swap your cryptocurrencies for some other without KYC verification, Changelly should be your go-to exchange. The platform has been around since 2013 and currently supports more than 150 cryptocurrencies. If you would like to exchange for BTC, you would need supporting cryptos such as ethereum and Dash. Despite it being a centralized platform, you don’t require ID verification registration to use the swapping services. 


One of the best features of Changelly is the vast array of payment services acceptable on the platform. In addition to crypto deposits, traders can use bank transfers, credit card payments, and even Apple Pay to make deposits. Besides, Changelly features a trading algorithm that finds the best trading prices by scanning other platforms. 


The only instance where you would need to complete KYC verification is if suspicious activity is detected. If you require additional security when swapping your coins, a VPN would be an excellent choice. 


IDEX


Ethereum holders will particularly love this decentralized cryptocurrency exchange. IDEX is specially designed for trading ethereum and ethereum-based tokens (ERC-20). By combining the security of blockchain technology with the speed of centralized platforms, IDEX provides one of the best exchanges for ethereum users who would like to transact anonymously.


Traders on IDEX are identified using their wallet addresses. Therefore, there’s no need for further verifications. To get started on the platform, users only need to unlock their Ethereum wallets, deposit tokens on the exchange, and start trading. Following a rebranding of the parent company, IDEX swapped its native token from AURA to IDEX in a 1:1 conversion. Users who previously held AURA tokens swap them at their leisure, with no deadline in place. IDEX coin holders receive a percentage of the fees generated from the transactions on the platform.


Binance


Some of the crypto exchanges feature partial KYC verification, and the world’s largest exchange is one of them. The Hong Kong-based exchange boasts of more than 10 million active users and supports over 150 cryptocurrencies.


To open an account on Binance, you only need an email address. You can also deposit, withdraw, and trade up to 2 BTC per day without requiring KYC verification. Spot trading on Binance doesn’t also need verification. However, users who transact large volumes of BTC will need to complete the KYC procedures so that they can transact on the platform. Additionally, US traders must use Binance US, which features KYC verification during registration.


To deposit funds on Binance, users can either use bank transfers, credit cards, or crypto deposits. The platform’s native token is Binance Coin (BNB). Holders of the coin enjoy a discounted rate when trading any of the over 500 trading pairs available. 


Parting Shot


Undoubtedly, KYC verification on cryptocurrency exchanges helps to keep the platforms safe from users who would be engaging in malicious activities. However, these procedures strip the crypto world of anonymity, which was one of the significant features that drew people into the world of digital currencies. 


Despite the security offered, KYC procedures could also pose a potential threat to investors in case of data breaches. Therefore, it is no surprise that many crypto enthusiasts love to maintain their privacy when transacting on public ledgers. Sure, there are other options, such as bitcoin mixers. However, a good exchange without KYC verification is enough for most investors. So, why don’t you check out our list above and find one that works for you? Keep in mind that there are several other options available, and you only need to do your research to find a platform that works for you!


Source: Hackernoon

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  

Elevault's $ELVT Token Public Sale Ending Soon, Launch Set for May 15

By Press Release • 13 May, 2024
Elevault Coin is excited to announce that its public sale is active and will be concluding shortly, following a robust and successful presale period. The official launch of this unique token is set for May 15, offering a remarkable opportunity for traders and holders.  This first-of-its-kind token boasts a blend of proven and innovative tokenomics, providing unlimited opportunity and security for a strong and dynamic community that has rallied impressively so far. Elevault Coin's overarching aim is to foster an intentionally designed, exhilarating, and rewarding token ecosystem that will endure through time. Elevault's Public Sale As the enthusiasm for Elevault Coin continues to grow post-presale, investors are still able to engage in this exceptional opportunity as the public sale draws to a close. The project emphasizes inclusivity, offering multiple sales and airdrop events which have already created vibrant community involvement, allowing enthusiasts to actively shape the currency's path forward. Elevault Coin differentiates itself with its innovative approach, having introduced a money-back guarantee during the presale to allow low-risk participation, a feature continuing through the end of the public sale. This public sale is not just an investment; it's a gateway into the future of the project. The Project's Offer for the Web3 Community Exciting features await the Web3 community with Elevault Coin. The project has implemented reflection mechanics to ensure fair distribution of sale fees among all holders and stakeholders. This foundation guarantees that every community member benefits from these fees, independent of their token holdings. Additionally, Elevault Coin incorporates a recurring lottery system where entries can be obtained through trading and token locking, enhancing the coin's appeal for long-term holding. Moreover, the project introduces an NFT "trade license" system that reduces sales fees for traders and opens up further investment opportunities. Designed with deflationary tokenomics, Elevault Coin aims to maintain its value stable with positive price pressure over time. The project also rewards liquidity providers with a designated share of reflections, bolstering its economic framework. Finally, post-launch, Elevault Coin will enhance community control through on-chain governance, building on the input gathered pre-launch and ensuring security and inclusivity through interim controls. This empowers the community to make critical decisions affecting the project's trajectory. About Elevault Coin Elevault Coin is poised to make a significant impact in the cryptocurrency investment world. By rewarding both trading and holding, it redefines the once-static investment landscape. With its unique and thoughtfully designed tokenomics, the coin nurtures a dynamic community, propelling an investment journey not to be missed. With a strong presale and public sale already under its belt, Elevault Coin invites everyone to join its vision of revolutionizing the crypto investment space. For more details, visit the Elevault Coin website and follow its social media channels ( X , Telegram ) to stay updated and participate in the exciting events leading up to the launch on May 15.

Marine Moguls ERC-404 Launches in 11 Days With ~2.9 Million USDT Prizes

By Press Release • 13 May, 2024
In just 11 days, blockchain will witness a revolutionary shift with the Marine Moguls ERC-404 token and NFT launch on May 25, 2024. This isn't just any token and NFT launch; it's a pioneering venture utilizing the fresh ERC-404 protocol, which combines token fungibility with NFT uniqueness. Every NFT has instant liquidity, and every token has fractional NFT ownership, making buying and trading faster and more flexible.  10,000 Tokens and ~2.9 Million USDT in Prizes The collection features 10,000 randomly generated AI marine creature NFTs that can evolve through crafting and merging. As they evolve, they become rarer and more valuable, unlocking lucrative prizes attached to over 25% of the NFT collection, like 100,000 USDT or 50,000 $METFI - 2,588 of the NFTs have prizes. Exclusive Access to MetBot Beta Stake just one $MOGUL token to enjoy generous APY and early and exclusive access to MetBot. This state-of-the-art AI trading bot is a game-changer in crypto trading. Last week, 100% of closed trades were in profit, with an 8% return the week before and an 80% return in two months. MetBot consistently delivers advanced, transparent, automated trading while your funds remain under your full control with instant withdrawals at any time. Token Distribution The distribution of 10,000 Marine Moguls tokens ensures that anyone can get a piece of the Marine Mogul pie: - Airdrop: 3,000 tokens (30%) for the airdrop campaign closing on 24th May 2024, - Whitelist: 3,000 (30%) to MetFi NFT owners, - Staking: 3,900 (39%) for generous APY disbursements, - Liquidity: 100 (1%) for liquidity. Airdrop Campaign Final Call Visit the Marine Moguls website to join the Airdrop campaign before May 24th, 2024, to claim your free $MOGUL tokens and fractional ownership of the Marine Moguls NFT collection. Join the Marine Moguls Revolution We invite you to participate in the groundbreaking Token Generation Event (TGE) on May 25th, 2024. The Marine Moguls ERC-404 collection will make a fun and powerful statement about the future of finance and an opportunity to be at the forefront of blockchain innovation. To secure your place in this transformative airdrop and launch, visit the Marine Moguls website. Don't miss this unique opportunity to dive into a world where crypto meets creativity, utility, and lucrative rewards. Join us, and let's navigate the exciting waters of the future together with Marine Moguls! About Marine Moguls and MetBot by MetFi Marine Moguls and MetBot, powered by MetFi DAO, redefine AI and digital asset integration using the pioneering ERC-404 protocol. This initiative sets a new standard for blockchain utility, merging token fungibility with the unique traits of NFTs for instant 24/7 NFT liquidity and fractional NFT ownership, broadening access and appeal. Alongside, MetBot dramatically enhances the ecosystem's value. As a cutting-edge AI trading bot, MetBot provides Marine Mogul token holders exclusive access to high-frequency trading that has delivered substantial, transparent returns. This AI bot boasts advanced intelligence and adaptive strategies, maximizing profitability while giving users control over their funds every step of the way. Marine Moguls and MetBot embody MetFi's vision of innovation, decentralization, and a valuable and rewarding digital future. By joining the Marine Moguls airdrop, community members lead an evolving ERC-404 ecosystem that challenges traditional concepts of value and ownership, delivering tangible benefits and sophisticated trading solutions. Official Links Website: https://marinemoguls.com Telegram Chat: https://t.me/MetFiChat Telegram News: https://t.me/MetfiNews Discord: https://discord.gg/MetFiDAO YouTube: https://www.youtube.com/@MetFiDAO TikTok: https://www.tiktok.com/@Metfidao.Official Certik: https://skynet.certik.com/projects/metfi Medium: https://medium.com/@MetFi_DAO LinkedIn: https://www.linkedin.com/company/MetfiOfficial GitHub: https://github.com/metfi CoinMarketCap: https://coinmarketcap.com/currencies/metfi2 CoinGecko: https://www.coingecko.com/en/coins/metfi Instagram: https://instagram.com/metfidao

Earn Passive Gold with ShadowGold: The DeFi RWA Token Backed by Physical Gold

By Press Release • 13 May, 2024
ShadowFi is set to launch ShadowGold (SDG), the first DeFi token with a liquidity pool 50% backed by physical gold and 50% by MATIC. This unique composition offers investors stability in volatile markets and sets ShadowGold apart from other DeFi tokens. ShadowGold has already amassed a starting liquidity of approximately $250,000, demonstrating the project's established presence and investor confidence.  ShadowGold is new money for the real world, backed by real gold ShadowGold holders earn passive gold rewards through PAXG reflections on each transaction. The token also grants access to exclusive equity investment opportunities, bridging traditional and decentralized finance. ShadowFi is also developing ShadowPay, the final piece in its ambitious DeFi roadmap, enabling ShadowGold holders to privately spend their gold, making it both an investment vehicle and a practical medium of exchange. Built on the secure, scalable Polygon network, ShadowGold has undergone rigorous auditing by Cyberscope to ensure the highest standards of security and integrity. ShadowFi maintains a strict commitment to user privacy, with no KYC checks, identity verification, or transaction monitoring. The ShadowGold presale kicks off on May 15th at 11PM UTC and will be open for 72 hours. During this time, investors can purchase SDG tokens at reduced prices, beginning at $0.02 and progressively rising to $0.0275 across four stages. Following the presale, ShadowGold will be publicly launched on May 19th, with an initial price set at $0.0357 per token. To participate in the presale or learn more, visit shadowfi.com . About ShadowGold The team behind ShadowGold (SDG) has a proven track record in DeFi since 2021, previously reaching a $45 million market cap and offering the first anonymous debit cards. Now, as ShadowGold, the innovation pivots into Real World Assets (RWA). X (Twitter) | Telegram | Website | YouTube | Whitepaper

Leetah Launches Presale Phase for LEET Tokens Eyeing $5 Million Soft Cap

By Press Release • 09 May, 2024
The Leetah project has officially launched its presale phase for the platform's native token, LEET. The project takes inspiration from the term "Leet" ("elite") and the features of a cheetah in a fun crypto twist. With a 5-phased roadmap, this new meme coin has a serious design that wants to bring value to its community. The ongoing presale phase aims to raise a soft cap of $5 million, a new important milestone for the project.  Leetah's Presale and Engagement Opportunities The project's presale will start at an initial price of $0.0065 for each LEET token. The team plans to leave the presale open until investors buy all allocated tokens. Specifically, with a total supply of 1,337 billion tokens, the presale will allocate 35% of this amount. Another 25% will let the team develop the project through its roadmap. LEET will go live through a decentralized exchange (DEX), for which the team allocated 30% of the token supply. The remaining 20% will cover marketing expenses (10%), airdrops (5%), and affiliates benefits (5%). The project will also feature a "Refer and Earn" program. The initiative will allow participants to earn additional LEET tokens by referring friends and family to the presale. With a 10% reward on their referrals' purchases in USDT, this program incentivizes active promotion and engagement within the community. Multi-Chain Launch Plans Leetah aims to launch on multiple blockchain platforms, including Ethereum, BNB Chain, and Solana. This approach will not only promote accessibility for investors but also set the foundation for potential expansion in the future. The project has already gained traction within select alpha communities with its unique presale strategy and innovative features. Specifically, this project's plans feature five different phases: Phase 1 (or "LeeTah is born") involves launching social channels and the website, followed by the presale phase. Phase 2 ("LeeTah grows") focuses on community building and marketing initiatives while passing a contract audit for security purposes. Phase 3 ("LeeTah roars") will see an increase in marketing efforts and community contests. At this stage, the team also expects to conclude the presale phase. Phase 4 ("LeeTah sprints") will mark the launch of Leetah's NFT collection and its listing on CoinGecko and CoinMarketCap. Finally, Phase 5 ("LeeTah Feeds") will involve the project's listing on major centralized exchanges and the launch of LEET TOOLS. About Leetah Leetah is a project driven by experienced developers to implement and test cutting-edge technologies in blockchain and digital token offerings. The project aims to be a leading name in Web3, pushing boundaries for investors and cryptocurrency enthusiasts worldwide. The ongoing presale phase for its native token, LEET, aims to raise a soft cap of $5 million. Leetah plans to launch on multiple blockchain platforms and has an ambitious roadmap featuring 5 phases of development. With its unique concept and strong team, Leetah wants to leave its mark in the Web3 sector. Anyone curious about Leetah and the LEET token can visit the project's website . The social media pages below frequently share news on Leetah's developments. X (Twitter) | Telegram
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