Topic: Cryptocurrency fiat money exchange service with easy KYC (Read 238 times)

Right now I can say right: Localcryptos is the best place for non-custodial trading. When Localbitcoins will die (I hope it!) - there will be only Paxful and Localcryptos on a market. But only on LC you don't need any KYC, you can to trade with no limitations from start! It is really amazing, I'm impressed!

I mean, this is categorically not true. A very quick search on here, on Reddit, on Twitter, on Medium, etc., will reveal hundreds of users who were trading below the 2 BTC a day limit and got hit with demands for KYC, with Binance refusing to unlock their accounts and release their coins unless they complied. Binance can and will arbitrarily decide you have to complete KYC without any warning, and once they do, your options are either to give in or give up your coins.

I'd like to know what data you are basing that statement on, or if it is an unsupported statement you have just made up. Bisq, for example, has had exactly two incidents of scamming in its history - one involving chargebacks for which they have since removed the guilty payment method, and one involving an exploit in the code for which they are refunding the users affected. Compare this to the huge amount of BTC lost on centralized exchanges and the huge number of times we have see centralized exchanges disappear, exit scam, freeze or shut down accounts, have their wallets hacked, have your individual accounts hacked, etc. Trading on a centralized exchange is far more risky than trading on a proper peer-to-peer platform. Peer-to-peer trades are only risky if you are doing something stupid like picking a random newbie member from the marketplace and not using escrow.

I feel like the local exchanges that many nations have nowadays are enough. I have been using one that has 10 bitcoin KYC requirement and unfortunately for me I have never been rich enough to have 10 bitcoins, so there is really no reason for me to give my KYC to them.

At the end of the day if you are working with a local exchange you are going to get a good result, it is local and it can work with your banks and it is a company so it is lower chance to be scammed. If you do p2p there is a possibility of getting scammed, and a big one as well, so that is why at the end of the day local exchanges are your best bet. If you do not have any local exchange at all, that is even better for you because you could at least make one . It is a very needed thing in every nation and each one should have it.

Binance is the best that fits to your requirements, if you don’t make any transactions that is beyond 2 BTC then you’ll be fine with Binance and you don’t even need to put any confidential information. If you also want to use your credit card, then binance already have this kind of function just search your country and do the transactions.

You just have to be reminded that when you use your credit card, then you still need to input your name, card number and the pin so this might not be good for you since you want to remain anonymous.

Maybe you're right but the OP have already option out LBC,paxful, localcryptos and if you also read the message posted by o_e_l_e_o LBC is not even a good choice and the right option are buying through BTC ATM (as said by BitMaxz but charges are ridiculous sometime),libertyreserve or localcoinswap(but the seller requirements determine sometime).

He didn't know that different levels of KYC verification for different tier verification, so I just said that he still can use LBC for lower limit with lite KYC.

And I forgot about locacryptos which is KYC free but I am afraid that you will be in trouble if you trade with someone who send fiat to your money from a hacked account.

LocalBitcoins is no longer a good choice. Since they enabled KYC, their requirements have got more and more stringent, and there are more and more reports of users being locked out of their accounts, having their accounts placed on "forced holidays", or having their coins frozen without warning until they complete higher tiers of verification. Their "T0" account also doesn't allow you to deposit any bitcoin. The only bitcoin you can sell is bitcoin you bought on LBC which has never left LBC:


Similarly, Binance have a long history of demanding KYC from their users, even from users who are using their "Up to 2 BTC a day" unverified accounts within the stated limits. There are also hundreds of reports of users being allowed to deposit and trade on Binance without any issue, and then having their coins confiscated and KYC demanded whenever they try to withdraw.

Any exchange which has has KYC requirements for some level of account is always a risk to use without KYC. You have absolutely no guarantee that they won't demand KYC of you at some point, and there is also nothing you can do except comply with such a demand or forfeit your coins.

If you want to trade safely without KYC, then you should be using a peer to peer platform which does not use KYC in any form, such as Bisq, Hodl Hodl, or LocalCryptos.

Many exchanges allow you to do a limited/capped transaction volume without going KYC. Search a bit and explore yourself and you will find some.

Nobody likes KYC but question is the people who are laundering money also attempt to evade a KYC because they know they will get caught. So exchanges have to save their legal problems and hand over your info to authorities when subpoena is done.

Point is, you are a legit trader and undergo KYC you probably will not face any problem but to be sure do check with the other users in your country and what they are using.

Not recommended it. I have experience about it. One of my clients have verified Binance account and had bought bitcoin first time. But when second time tried to buy then he encountered problems with verify again. According him it was required from simplex. So don't expect buy bitcoin without KYC verification, you may encounter KYC issue anytime. To be honest it's quite complicated to buy bitcoin without KYC except P2P exchange like localbitcoin via credit card. But most likely LocalCryptos doesn't required KYC.

I think Binance is enough for you because this exchange is safer than other websites, and in the past, I bought Bitcoin directly without having to KYC.

Of course, many options are mentioned here, but if you want to buy and want to trade immediately, Binance is the number one choice for you at the moment. Besides, Localbitcoin is also a very good site for you to consider so use it according to your preferences.

Try to check if there are Bitcoin ATMs near you.

Use this map to find you Bitcoin ATMs
- https://coinatmradar.com/

This is the easiest way if there is a Bitcoin ATM in your area and it doesn't need any KYC or documents.

---

Also, check this thread below with the list of no KYC exchange alternative for Localbitcoins
- https://bitcointalksearch.org/topic/list-of-p2pno-kyc-exchanges-5180421

He have already mentioned localbitcoin etc but he need others exchange site and the last time i checked almost all crypto-fiat exchange site accept KYC. However, i think luno KYC is still lite and you can also try crypto to libertyreserve while you later change it to fiat if supported in your country.

Localbitcoin doesn't need selfie for tier 1 verification, you can simply upload any of your identity card to get verified but I forgot about the yearly limit for tier 1, I guess it is like 1000 Euros which is pretty good limit for a normal person.

edit:

Binance won't require you KYC for purchasing bitcoin with a credit card, they allow you through simplex.
https://binance.zendesk.com/hc/en-us/articles/360022199312

Who can tell me Cryptocurrency fiat money exchange service with easy identity verification? With a minimum KYC? Let's share the ones we know. LocalBitcoins, Paxful. Localcryptos. That all p2p services, but maybe exist any Exchanges with light KYC without selfie, documents? I do not like all these things. Just to buy some Bitcoin with credit card, or bank account