If you want to launch a crypto exchange without having to verify clients through KYC, you can provide them deposits and withdrawals only with cryptocurrencies.
Any fiat money transactions are carried out with the help of payment providers. They have certain requirements for their partners (i.e. exchange owners), which they’re forced to meet because of regulators. No one will allow you or a payment provider to handle fiat without KYC verification.
Topic: Did I can make platform without KYC verification - page 2. (Read 462 times)
There are the options of CEX and DEX. Or even there are some platforms that need KyC and also no need KYC or do simple only KYC to verify it is us. For me, if I will get it from whatever the platform and have no problem with KYC platform as log as it is exactly legit. But if we want to use platfrom for instant purchas easily, P2P may be good moreover if you buy from trusted members here.
there will always be a choice. but until recently the best option for those with anonymity concerns was a DEX exchange. maybe now more CEX exchanges will require either simple or full KYC verification for us to be able to carry out activities on the exchange.but for now, I think more people are starting to tolerate the KYC that the exchange asks for. except for those who do have a problem with their age.
The reason of making Bitcoin in the first time is decentralized money and make P2P safely but now we can see many platform start controlling this crypto currency by KYC .
My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
I think you can do the platform without kyc the question is, How people trust it or how people think that it is safe, maybe there are a lot of people that did not trust it or did not use it because kyc is the most common factor to gain trust as we can see almost all wallet even crypto exchange need kyc to deposit or withdraw funds to avoid scammer. My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
So the reason why those companies that are related to financial institutions choose to be centralized and regulated by the government.
If your platform involves financial transactions, such as receiving or sending payments, it is probably the best way to implement some form of identity verification to comply with financial regulations and prevent fraud, this is how people will trust the platform especially if it is new, the assurance of the platform.
The reason of making Bitcoin in the first time is decentralized money and make P2P safely but now we can see many platform start controlling this crypto currency by KYC .
My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
I think you can do the platform without kyc the question is, How people trust it or how people think that it is safe, maybe there are a lot of people that did not trust it or did not use it because kyc is the most common factor to gain trust as we can see almost all wallet even crypto exchange need kyc to deposit or withdraw funds to avoid scammer. My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
There are the options of CEX and DEX. Or even there are some platforms that need KyC and also no need KYC or do simple only KYC to verify it is us. For me, if I will get it from whatever the platform and have no problem with KYC platform as log as it is exactly legit. But if we want to use platfrom for instant purchas easily, P2P may be good moreover if you buy from trusted members here.
The reason of making Bitcoin in the first time is decentralized money and make P2P safely but now we can see many platform start controlling this crypto currency by KYC .
My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
Your thinking is correct. But the exchanges are forcing their customers to do KYC when trading on their platforms, because the exchanges are regulated under the regulatory authorities, so even if the exchanges want to, they cannot do anything beyond that. My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
So if you want to hide your identity then you can use decentralized exchange where there is no hassle like KYC. But you must know how to use decentralized exchange, since you will have control of your own funds.
The question is still unclear but i think I got you.
So you are trying to say that you need a platform for P2P trading or decentralized trading without KYC I think many platforms allow you to just deposit and start trading. If your primary concern is not trading then in leading and yield farming also you can now freely move without KYC. But if you are involving the fiat in it it might be illegal according to the residential law enforcement policies.
KYC standard was to control the outflow of the fiat and for avoiding money laundering type of things but you can still find some of the platforms offering decentralized services without KYC. On the point of controlling crypto or Bitcoin, I am not sure about crypto but Bitcoin can't be controlled in a proper way according to my understanding.
So you are trying to say that you need a platform for P2P trading or decentralized trading without KYC I think many platforms allow you to just deposit and start trading. If your primary concern is not trading then in leading and yield farming also you can now freely move without KYC. But if you are involving the fiat in it it might be illegal according to the residential law enforcement policies.
KYC standard was to control the outflow of the fiat and for avoiding money laundering type of things but you can still find some of the platforms offering decentralized services without KYC. On the point of controlling crypto or Bitcoin, I am not sure about crypto but Bitcoin can't be controlled in a proper way according to my understanding.
The reason of making Bitcoin in the first time is decentralized money and make P2P safely but now we can see many platform start controlling this crypto currency by KYC .
My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
You want a platform where you have two wallet. crypto wallet will be same like other exchange have and you want one extra wallet also where only our real money (fiat) will be deposit and withdraw. This is possible but how will you add fund to your second wallet? If you want through bank than your identity will be also disclose by somehow. if you want to do this by P2P there will be too much scam risk involved. People are scamming now in P2P despite of KYC approved. what will happen if this system created without KYC and bank details added?
Many Cex are working to operate their exchange in many countries and for this purpose security is must. for this security they ask for KYC to decrease the scam chances.
actually you can do that, it even makes your platform condensed with its decentralized characteristics as cryptocurrency. the problem is how the financial rules in your country. can they allow you to create a platform without data from users as usually it is related to security of user data in case of future problems. different from the original crypto because it doesn't require KYC for data because it is processed directly by the system.
Well, I hope that there will be a successful decentralized p2p platform in the future. There are certain problems with centralized p2p also even that they have KYC. There are still scammers trying to make money on doing p2p trading, as I once been a potential victims of those scammers. I believe that the scammers will spread more if they have been given a chance to have a decentralized profile as they can just create a brand new one after being reported as scammers. Also, I think it will be hard for a pure decentralized p2p platform to exist given that the buyer and seller certainly need to provide their bank account, e-wallet or other sort of payment option to send the fiat money. There are possible problems but I hope that someone will have a genius solution to this and will create a reliable platform.
I still feel fine about KYC, people are overreacting about it. First of all government has all of my info, literally down to my shoe size, so there is absolutely no reason to try to avoid anything from the government. Secondly, if bad people get the information, they would get my ID information, and that is already leaked a million times already, if you think that your ID is not shared in the darknets then you haven't been in darknets a lot, and that's I suppose a good thing.
All in all, there is absolutely no reason for me to fear giving Binance my KYC for example, maybe too shady places would be futile, because why would I, but there is nothing wrong with the ones we have right now, that ain't going to change. Binance will protect it better than your government protects it, I can guarantee you that much for sure.
All in all, there is absolutely no reason for me to fear giving Binance my KYC for example, maybe too shady places would be futile, because why would I, but there is nothing wrong with the ones we have right now, that ain't going to change. Binance will protect it better than your government protects it, I can guarantee you that much for sure.
I don't think it's possible to make a platform without KYC verification. There are many platforms that are
already doing this, but they are not going to be able to do it.
You can check the history of the platform and it will be up to you whether you want to
spend your money or not.
If you want to make a platform without KYC verification, you have to be very careful
about the risk of getting hacked.
already doing this, but they are not going to be able to do it.
You can check the history of the platform and it will be up to you whether you want to
spend your money or not.
If you want to make a platform without KYC verification, you have to be very careful
about the risk of getting hacked.
I don't think it's possible to make a platform without KYC verification. There are many platforms that are
already doing this, but they are not going to be able to do it.
You can check the history of the platform and it will be up to you whether you want to
spend your money or not.
If you want to make a platform without KYC verification, you have to be very careful
about the risk of getting hacked.
already doing this, but they are not going to be able to do it.
You can check the history of the platform and it will be up to you whether you want to
spend your money or not.
If you want to make a platform without KYC verification, you have to be very careful
about the risk of getting hacked.
KYC is a necessary evil from what I Know. You lose some, you get some. In order to ensure the security and trust, we have to rely on centralized exchanges and obey their rules, TA, privacy etc. There are some decentralized exchanges, but they are not that much trustworthy. And some of them are pure scam. So in order to get a reliable service, we have to compromise our privacy at some extent.
But if you want to make some decentralized exchange, it will be quite hard to get people to totally trust on it. One thing you can use without any of these issue is crypto ATM. It doesn't require any KYC or anything. But it's not widely spread. So depends on availability. I don't think there's any secure method than this.
One more thing I want to add is that, if you use BTC as BTC and not convert them to fiat or other crypto currency, you can easily use it in decentralized method which it was created for. That's all.
But if you want to make some decentralized exchange, it will be quite hard to get people to totally trust on it. One thing you can use without any of these issue is crypto ATM. It doesn't require any KYC or anything. But it's not widely spread. So depends on availability. I don't think there's any secure method than this.
One more thing I want to add is that, if you use BTC as BTC and not convert them to fiat or other crypto currency, you can easily use it in decentralized method which it was created for. That's all.
I remember several years ago there was a similar platform whose principle of operation was simple, as it was converting bank and PayPal into Bitcoin, the idea is as follows:
There is no direct conversion between bitcoin to PayPal, but rather the use of an intermediary currency.
This website has been working for several years but they stopped due to regulations as the company's bank accounts were banned.
I would guess that you could do that today if you want to but that would be a bit of a trouble considering paypal also has a chargeback as well. So, if today I will give you bitcoin and you pay me in paypal, even if you end up paying first, then I would have to make sure that you do not do a chargeback. If you end up doing a chargeback, I won't be able to get the bitcoin back from you, but you would be getting the money back from me. How am I suppose to prevent something like that happening? - You buy virtual currency inside the platform, for example, by Xcoin using PayPal.
- Within that platform, you can switch between that virtual currency to Bitcoin.
- You can withdraw bitcoin.
There is no direct conversion between bitcoin to PayPal, but rather the use of an intermediary currency.
This website has been working for several years but they stopped due to regulations as the company's bank accounts were banned.
This is why I think as a business this is not a profitable one, it will be raided by people who would abuse such a thing and that is why it would not survive for too long.
My idea it's website that you can deposit real money or real crypto and work just with P2P verification here just by deposit and people who will deposit money I can use e-commerce plugin so the government when they track money they found it going just to e-commerce website not crypto it's like I'm going to make two website one is for fake products but when u buy some of this product u will have money in your second website that u can change it by crypto
I remember several years ago there was a similar platform whose principle of operation was simple, as it was converting bank and PayPal into Bitcoin, the idea is as follows:
There is no direct conversion between bitcoin to PayPal, but rather the use of an intermediary currency.
This website has been working for several years but they stopped due to regulations as the company's bank accounts were banned.
- You buy virtual currency inside the platform, for example, by Xcoin using PayPal.
- Within that platform, you can switch between that virtual currency to Bitcoin.
- You can withdraw bitcoin.
There is no direct conversion between bitcoin to PayPal, but rather the use of an intermediary currency.
This website has been working for several years but they stopped due to regulations as the company's bank accounts were banned.
For sure you can make a no KYC required website and people will give your business good and reasona consideration because everyone needs to be private, then before you can achieve this, you also needs to go private yourself, a centralized entity cannot promise privacy and decentralization when it's not decentralized, find one to learn more on privacy and try work hard on this area because that's the major centre for running a no KYC required platform in other to avoid any failed attempts.
The reason of making Bitcoin in the first time is decentralized money and make P2P safely but now we can see many platform start controlling this crypto currency by KYC .
My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
My question is can we make platform that can we verify account by deposit only .
Account have two wallet one of crypto and other with real money he can swap and withdrawal money or crypto anytime
Anonymous P2P trade is a dengerous idea. I personally would never trade crypto to fiat in such a platform where KYC verification is not needed. It is highly likely that dirty money will get mixed in the economy and the receivers will be summoned by police. When it comes to bank, I would not risk an anonymous transfer to my bank account.
However, if you are trying to build a crypto to crypto exchange without KYC, you are welcome. But ensure to register it in such a country where government will support such initiative.
It depends on the nature of the platform. If it is central, yes, you can do that, but you will be considered providing a money laundering service, and therefore you will be tracked and detained. You may try to hide your identity, but it is difficult to manage an activity with thousands of transactions per day without going through the banking system, especially if there is acceptance of transfers from and to cash.
If it is decentralized, things will be different, but your problem remains in providing sufficient liquidity.
If it is decentralized, things will be different, but your problem remains in providing sufficient liquidity.
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