Every centralized exchange I use has mandatory KYC policy and I am surprised to see MEXC still allows users without KYC but I never used their platform and I don't need too since I already done KYC where I trade often.
You can use the mentioned exchange if it's one time thing but for regular usage, you must be ready to do KYC because every exchange can/might ask for verification at any time so be prepared instead of regretting. Other options are decentralised exchanges which can work for small number of coins but the price could vary than centralized exchanges.
Topic: Best centralized exchange without KYC? (Read 351 times)
Does anyone know what exchange like binance is that doesn't ask for KYC?
Your question is a quite confusing and kinda naive one. Now the two different types of exchanges we have are either centralised exchanges or decentralised exchanges. And one of the major things that distinguishes both of them is privacy and KYC data. Like you should know already, Decentralised exchanges don't require their users to give out real time private information for them to be able to carry out transactions with them. In some cases they can even act as enscrow in P2p transactions.
Centralised exchanges on the other hand make use of real time private data as mandatory before you can trade with them. Some even have levels to KYC for different volumes of trades. So looking for a centralised exchange that doesn't use KYC is quite absurd.
Look, I get that you are trying to make a point about centralized vs decentralized exchanges. But I dont think dismissing the original question as absurd or naive is fair or helpful.
The OP was asking about a specific type of centralized exchange - one that doesnt require KYC verification for simple trades. Its actually a decent question and lots of folks are looking into crypto trading for the first time and get confused by the whole KYC thing.
No need to jump down their throat as if they should already know everything. We were all new to this once.
And for the record, yes it is possible to use some centralized exchanges without going through identity verification, as long as you keep your trading volumes low. So the original question makes sense. Maybe just focus on answering that rather than ranting about centralized vs. decentralized exchanges.
Does anyone know what exchange like binance is that doesn't ask for KYC?
Your question is a quite confusing and kinda naive one. Now the two different types of exchanges we have are either centralised exchanges or decentralised exchanges. And one of the major things that distinguishes both of them is privacy and KYC data. Like you should know already, Decentralised exchanges don't require their users to give out real time private information for them to be able to carry out transactions with them. In some cases they can even act as enscrow in P2p transactions.
Centralised exchanges on the other hand make use of real time private data as mandatory before you can trade with them. Some even have levels to KYC for different volumes of trades. So looking for a centralised exchange that doesn't use KYC is quite absurd.
Does anyone know what exchange like binance is that doesn't ask for KYC?
"Best"? Is there anything like that?
Been centralized means they are in control of your private keys and to do that, they need your information. It's either an exchange is asking you KYC information before you can use their service or they don't ask you at all, Binance service is not different from that of Kucoin, not dffierent from that of Bybit neither it's unique than that of OKX. The only difference is their branding, marketing and the charges they give on their service. All of them as you for KYC information as long as they a re centralized.
You can't have any exchange that is effective as Binance without any KYC information unless you are buying from another exchange that may want to sell to your through debit card but that's another KYC in my opinion because it's enough to track you down any where you are buying the Bitcoin.
Does anyone know what exchange like binance is that doesn't ask for KYC?
but in norms exchange is supposed to have done KYC-verification because of money laundering, binance do have a KYC, because binance doesn't have KYC many people won't have queue up in binance, secondly exchange is not a mixer, it's only a mixer I know that they are KYC-free, but for exchange to stand firm without accusations, I think that they should be a KYC-free on them. 
Would have been of tremendous help to offer more information about what you are looking for.
Is it just swapping from one Cryptocurrency to another? If so, check my signature.
Is it to do day trading? If so, there are a few out there but I suggest you refrain from using the least known ones with least liquidity and ALWAYS be sure to ask about it around here first or check their ANN Thread if there is any on Bitcoin Talk. A lot of them have ghost Trading going on, which can heavily manipulate you emotionally into quickly placing Orders without thinking much about the consequences.
Other wise, I suppose you already know what to avoid and what not to. First and fore most, always make sure the amount you have deposited on the Exchange is not life changing. Considering the Exchange is Centralized, you NEVER know when you could have your Money deposited over there at the wrong time and become a victim of a Hack, of a Scam et cetera. Never trust Centralization, even if your account is Know Your Customer-ed.
Is it just swapping from one Cryptocurrency to another? If so, check my signature.
Is it to do day trading? If so, there are a few out there but I suggest you refrain from using the least known ones with least liquidity and ALWAYS be sure to ask about it around here first or check their ANN Thread if there is any on Bitcoin Talk. A lot of them have ghost Trading going on, which can heavily manipulate you emotionally into quickly placing Orders without thinking much about the consequences.
Other wise, I suppose you already know what to avoid and what not to. First and fore most, always make sure the amount you have deposited on the Exchange is not life changing. Considering the Exchange is Centralized, you NEVER know when you could have your Money deposited over there at the wrong time and become a victim of a Hack, of a Scam et cetera. Never trust Centralization, even if your account is Know Your Customer-ed.
Yeah MEXC is probably the suitable exchange to use when you want to avoid KYC. Although there are other exchanges which you don't have to pass KYC to use but MEXC is one with good reputation among all, and has high volume of trades which are not bots.
MEXC project is actually the best centralized exchange that didn’t demand for personal details in form of KYC to allow you trade with them both on future and spot trading. And it’s a good exchange when it comes to trading future because they do list new projects on futures earlier than most of the reputable centralized exchanges.You need no KYC to trade with them, but that doesn’t warrant you to trust them with your asset. Make sure you send out your money after trading with them to your personal wallet that you hold the private key so that you can fully be decentralized, but leaving your coins on the exchange is risky because if the exchange got hacked, your money is gone.
Yes, as others have mentioned, you can use MEXC without KYC, but there are withdrawal limits. If you exceed these limits or if your account is flagged due to AML policies, you will need to complete KYC verification.
However, please note that all US customers are required to complete KYC verification regardless of withdrawal amounts.
Nice to know about non KYC exchange. Everyone is saying MEXC, maybe I have to try them out now that mempool is going to congest the more as bull run is approaching. However, please note that all US customers are required to complete KYC verification regardless of withdrawal amounts.
That is the more reason I see it like it doesn't have P2P. because NGN and many other currencies are not included in the P2P like binance and kucoin plus many others exchanges . So what is the use of P2P when your country currency is not listed to be used for exchange of coin to fiat.
I think naira P2P was listed among before but it was removed this year. I am not concerned about P2P because there are exchanges that I can use for P2P. I like the fact that there is still a centralized exchange that people can use anonymously. Binance, Bybit, OKX and many other exchanges were like that before but they later require KYC. Yet MEXC is one of the best exchanges in the world. 
You can use MEXC. I have been using it for like 2 years now. Although when I first registered on the exchange, I did not use it frequently until 3 months ago. I have made several transactions without KYC till now.
What you will also like about the exchange is that it has low trading and transaction fee.
The problem is that it doesn't have P2P like binance but for sure you can register without kyc and use it for normal withdrawal of coins. I had one earlier but couldn't use it for P2P then I left it for bitget and kucoin. When people talk about CeX enchages without kyc I think of CeX enchages without kyc and can be used for P2P. If anyone knows such exchange then he can explain it here.What you will also like about the exchange is that it has low trading and transaction fee.
Money laundering exists everywhere, in all industries, not only in blockchain industry and cryptocurrency market. If governments want to attack cryptocurrency market, they will aim at centralized exchanges with known founders, owners first. It's because centralized exchanges are easiest targets for governments to aim at and succeed with their regulation attacks and even lawsuits against these exchanges and their owners.
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Why would they attack CEXs that are fully regulated and carry out strict KYC on their clients? If you know where the money came from and where the bought/sold cryptocurrency is going, then you have complete insight into what belongs to whom and you can continue to track it. The owners of such CEXs know very well that they have to cooperate with the authorities, and as long as they do so, they will have no problems.
One of them was recently released from prison because he obviously ignored the rules of the game and it cost him dearly - and I think the message sent to everyone is quite clear - work according to the rules we set and your work will go smoothly.
You can use MEXC. I have been using it for like 2 years now. Although when I first registered on the exchange, I did not use it frequently until 3 months ago. I have made several transactions without KYC till now.
What you will also like about the exchange is that it has low trading and transaction fee.
The problem is that it doesn't have P2P like binance but for sure you can register without kyc and use it for normal withdrawal of coins. I had one earlier but couldn't use it for P2P then I left it for bitget and kucoin. When people talk about CeX enchages without kyc I think of CeX enchages without kyc and can be used for P2P. If anyone knows such exchange then he can explain it here.What you will also like about the exchange is that it has low trading and transaction fee.
But only few currencies are allowed, unlike those exchanges that you used to compare it. It has only 6 currencies which you can see in this image
You are not right saying that when you think about centralized exchanges, that you also think about P2P. I like how MEXC is even though it is not having P2P for my country currency.
You can use MEXC. I have been using it for like 2 years now. Although when I first registered on the exchange, I did not use it frequently until 3 months ago. I have made several transactions without KYC till now.
What you will also like about the exchange is that it has low trading and transaction fee.
The problem is that it doesn't have P2P like binance but for sure you can register without kyc and use it for normal withdrawal of coins. I had one earlier but couldn't use it for P2P then I left it for bitget and kucoin. When people talk about CeX enchages without kyc I think of CeX enchages without kyc and can be used for P2P. If anyone knows such exchange then he can explain it here. What you will also like about the exchange is that it has low trading and transaction fee.
Does anyone know what exchange like binance is that doesn't ask for KYC?
You can't use any centralized exchanges with fiat currencies if you don't perform KYC, so I don't see the real point in using them at all.Coinex and Mexc still worked last time I checked, but there is always a risk of your account getting frozen and coins seized, and I heard bad stories from Poloniex and similar exchanges.
For me best centralized no-kyc exchange is eXch, and for fiat trading you have Bisq, PeachBitcoin, Robosats, etc.
As far as centralized exchange is concerned, there is no way you would escape kyc because they would definitely request for it as time goes on. All the CEX are being regulated so you should not be hoping to avoid kyc from them. Although if you talk about a minor requirements from them based on your level of kyc, one could understand that not every documents would be required based on levels and transaction amount involved. So the higher you transact with the SEC, the need you upgrade your kyc status to be eligible for the range of transaction you do.
Does anyone know what exchange like binance is that doesn't ask for KYC?
Yes, there are many exchanges that don't ask for KYC verification and provide their functions. Some of these are MEXC and CoinEx, among many others. However, among all those exchanges, I think CoinEx is better to use because, as a non-KYC exchange, it still provides a daily withdrawal limit of 10,000 and gives full rights to the users' assets. They were hacked, and the company faced many losses, but they still ensured that they would compensate the affected users. So, as a non-KYC exchange, I believe they are better. One more thing, they are fully secured now because of their new developments in the security sector, which make them more secure.This is just my suggestion for now, and maybe in the future, after my post, things may change because anything is possible at any time. So just keep the idea from my post in mind and do your own research (DYOR) before getting into it.
Yeah thats right. I like this exchange since we can use that even without kyc.
Even OP you want higher asset the only thing you need is to trade below min or withdrawal amount for mexc but I think the min is still huge (for me) but if you are a whale maybe the limit isnt enough for you on daily swing.
The minimum withdrawal is very huge, it is 10 BTC right now showing in my MEXC exchange and they didn't require KYC to start trading with them.Even OP you want higher asset the only thing you need is to trade below min or withdrawal amount for mexc but I think the min is still huge (for me) but if you are a whale maybe the limit isnt enough for you on daily swing.
For me, it is the best centralized exchange that have similar futures with the likes of Binance and others that didn't require KYC to trade such huge amount, and it have good features that almost all the KYC Centralized exchanges like Binance and other have.
Maybe OP will try to check out the non kyc exchanges Here
Does anyone know what exchange like binance is that doesn't ask for KYC?
There are many CEXs that do not require KYC for their users, i found some names like Margarex, KCEX, BingX & CoinEx. I personally have not tried them, i got information about those CEXs from my friends who often trade but they do not want to do KYC. Binance has very complete features, i doubt we can have a CEX without KYC like that platform.
Really difficult since they need to comply what regulators asked them to do since if they didn't follow some regulation set by government then provably that their exchange will subject to get ban and declared as illegal. With what OP asked maybe he cannot get reliable exchange since most of reputable ones ask KYC and those platform didn't ask for this requirements remain questionable.
So its still up for OP if he's going with those risky exchange or just comply on trusted exchange.
But for me I'm avoiding those platforms which I think risky since its hard to get scam since there's less chance for us to get back the money lose from those scam platforms.
Wait what? DEX and no KYC P2P aren't scam platforms, you will get your coins/funds as long as you trade by following their instructions. So its still up for OP if he's going with those risky exchange or just comply on trusted exchange.
But for me I'm avoiding those platforms which I think risky since its hard to get scam since there's less chance for us to get back the money lose from those scam platforms.
I don't really know Bitcoin regulation in your country, but I don't think it will be that strict to ban and declared the coins gotten from unlicensed exchanges as illegal. Except the coins have a relation with scam/hack case.
Scam and regulation are different.
If there is such a CEX (and you say there is), it's only a matter of time when they will be forced to do what everyone else does, or they will come under attack from all possible governments and their agencies. Also, if they allow users to trade without KYC, be sure they are already monitoring them, because you know some governments (more than others) are very paranoid when it comes to money laundering, terrorist financing, and online crypto scams.
Money laundering exists everywhere, in all industries, not only in blockchain industry and cryptocurrency market. If governments want to attack cryptocurrency market, they will aim at centralized exchanges with known founders, owners first. It's because centralized exchanges are easiest targets for governments to aim at and succeed with their regulation attacks and even lawsuits against these exchanges and their owners.If does not mean money laundering in cryptocurrency market is worse than in other industries, it's only governments don't like it and want to shut it down or want to get as much money as possible from these centralized exchanges.
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