Topic: List of P2P/no-KYC exchanges - page 5. (Read 2292 times)

Sometimes the country that the exchange was registered. They have to comply with the countries jurisdiction that they should put some KYC into their system. One of the laws that exchange is complying is Anti-Money Laundering, which most of the country has. As time goes governments are implementing their basic laws on money related website like exchanges.

If something goes wrong, they should have enough information to correct the issue. I shouldn't have to send them pictures of my identification and me holding it while reciting the alphabet backwards to fix it. I don't hold currency on any exchange, so if something goes wrong, it's probably with a deposit or a withdrawal. There's no reason they would need any information to fix that. Also, I use 2fa and get notifications everytime I log into my account so it's not likely someone gets on there without me knowing.

OK thanks. I will remove it from the list.

Everyone else, if you know more P2P/no-KYC exchanges, or any LocalBitcoins-type of service, please share and post them in the topic.

Thank you for sharing a list of non-KYC exchanges, this really helped me. But after I checked there were a few started implementing KYC
procedures, but that wasn't a big problem for me. Because of the list there are still many who are still consistent with non-KYC systems.
But actually I am still hesitant to use exchanges on the list, afraid not credible exchanges. Only in the name of the KYC no-procedure but
fake trading volume or scam. So in the mean time I still consider trading on these exchanges.

That's bad to hear. I was a regular user of Remitano in 2017 and it was very easy platform to use with greater degree of freedom to sellers. But KYC is like restricting the sellers from using the platform. I don't think I will ever return to remitano after hearing this.

The same with Shapeshift, just lately they are also asking their clients to open an account and the need of KYC. Many companies are now shifting to KYC needed platforms probably due to government regulations. Remitano is available in many countries like USA. And they cannot just let their services to other countries without KYC, SEC can probably won't approve their services in the US.

Remitano now request KYC from sellers

P2P/No-KYC exchanges are also better for HODLERs. It adds a layer of security to your identity because there's no third party connecting your coins to it. Add Wasabi in your OPSEC, then you're safe.

The reason is privacy.
You can't just go sending your documents and confidentials to each and every exchange or service you come across especially in the cryptoshere. Data breaches happen now and then and if you are such a person, chances are that your docs will be splashed a cross the internet for other strangers to use for malicious reasons.

Liquidity. Day traders/active traders need them. But if you're a buy and HODLER, you want to buy Bitcoin to keep in cold storage, but keep much of your privacy too.

I believe there's a place for KYC exchanges, and no-KYC exchanges, depending on what someone needs.

What makes these large exchanges so special that I should simply trust them with my personal information? They may have the highest possible security but they are still hackable.

Why are people so scared of KYC? If one of the transactions goes wrong, will you provide enough information for managers to handle your problem?
KYC should not only send to projects that are raising funds, because they can sell our information to businesses for money. but not for large exchanges, you should trust them and create yourself the safest trading environment possible.

Good list up there. Perhaps one of the reasons some of them are not yet enforcing KYC is because of a low user base but should they become so people like LocalBitcoins. They will definitely bow down to pressure.

The major problem with these platforms is very low liquidity and very abnormal spread. For example BTC price has been below 10K USD for a while now but in HodlHodl some is still selling bitcoins at 10,800 USD

I didn't say it (because it's something repeated often in discussions) but I have to admit it's not user-friendly. But Bitcoin wasn't user-friendly the day 1 (and still not for the majority), give it time to mature. I truly believe it will be accessible to the average Joe in the near future.  Don't forget the new generation is used to new technologies and it is in their daily lives, not like us who shocked to discover Emule to download free movies.

Saying it doesn't worth for the devs, yes your point is right but in the open-source world, you always have thousands of devs working for free, coding stuff used by millions of people. GNU/Linux is a perfect example. I exclude Ubuntu and Canonical, but how many forks come from Debian with devs who worked, and still work, for free? A thousand of operating systems, if not more.
You will always see some elites jumping in everything they can, Canonical and Red Hat are for Linux OS what Binance is for DEX. but that won't prevent this branch from evolving, at least it will be less anarchic.

I'm not even talking about questioning the term decentralization, because even if you use a DEX, can we really talk about decentralization if servers and other infrastructures, governance, are held by a single person or a group, or a company.

Not really...

In some ways, but careless people with bad security practices might be safer using conventional exchanges + 2FA, at least until DEX hardware wallet trading becomes the norm. There's no 2FA when inputting private keys to a DEX.

And there are vulnerabilities like when a DEX is built on the DNS and exposes users to domain hijacking/phishing attacks. That's what happened to Etherdelta a while back. DEXes are often operated by smaller companies who are more vulnerable to these attacks than large centralized exchanges.

Keep in mind that their status of being a “No-KYC” exchange might be temporary since authorities are already catching up and requiring these types of companies/websites to have KYC as a requirement. I remembered that ShapeShift fought hard for their No-KYC requirement for their service but at the end its either shutting down or asking KYC for their customers. So don't expect that this will be a permanent anonymous service for you and don't be surprised if they ask for KYC in the future.

I don't know if you missed the others on the list or it was your intention to exclude them because they're for Altcoins only.

Just in case anyone is also interested.

Altcoin-only P2P Trading exchanges:

• LocalMonero (💵) [NO KYC]
  https://localmonero.co/buy_monero
• LocalEthereum (💵) [NO KYC]
  https://localethereum.com/
• Dether (💵) [NO KYC]
  https://app.dether.io/
• Local BCash (💵) [NO KYC]
  https://local.bitcoin.com/

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EDIT: I also forwarded this info to our local community https://bitcointalksearch.org/topic/m.52335133

If you're an experienced user maybe, but for the average person it requires understanding and a lot of patience with how confirmations can either take a few minutes or even an hour in some cases.

For most people it's safe to say that the benefits of using a DEX don't outweigh the trade-offs, because there are many. It's also largely still underdeveloped because it's not profitable at all to spend time on this for developers.

What we are missing is incentive for the wealthy elite in Bitcoin land to pump money into development, but that's not going to happen considering that the elite either directly owns an exchange or has a large stake in it.

A bunch of really small fish maybe. What exchanges do you mean? Maybe I'm looking in the wrong places.


I guess that's why there's no liquidity: no market makers and few day traders. Centralized exchanges are much more welcoming to algorithmic trading and market making activities. I don't see this changing anytime soon.

Do they really? I mean, most people here don't need a whole lot of liquidity. From what I have seen, the most popular dexes seem to have sufficient enough liquidity to serve quite a bunch of people. Dexes are meant to be used by people who can't or don't want to use a centralized exchange. They do it to buy in and then keep the coins or spend them, and not necessarily to trade them.

Also, a lot of people who complain about dexes lacking liquidity don't do anything to change it. If you really want to see dexes have more liquidity, then start yourself and help whatever dex you're using become more liquid.