Topic: Which will be best non-KYC exchanger after Ku-coin? (Read 886 times)

In trading, demand and volatility are important. It absolutely does not matter what you are trading, a clone, a coin without utility, etc. What does it matter, for example, to a day trader or a swing trader whether this or that coin has utility or not? That is why I agree that bitcoin is more suitable for investment and the buy & hold strategy, and altcoins for trading.


This is a market, what kind of moral principles can there be at all? You either come into business to earn money, or you pretend that you have a lot of moral principles and are left without earnings. But then I suggest that you give up everything altogether, from fiat money, from banking services, because these are also a kind of fraudulent schemes where some are deceived, and others earn money on it.

Investments and trading are built in such a way that the majority will still be deceived and lose. It doesn't matter if it's bitcoin or altcoins. There is deceit and manipulation everywhere.

In general, you should not try to evaluate (or compare) the utilitarian properties of altcoins. There are none, with rare exceptions. If you consider altcoins as a product, then I consider altcoins only as a speculative tool (that is why they are created). Bitcoin is good as a means of payment or as a tool for long-term investment. Altcoins have slightly different timings and goals.

By the way, returning to the problem of loss of funds among altcoin investors. One common mistake is that many altcoin investors try to apply the same metrics to altcoins as they do to bitcoin. They try to apply a hold strategy to them or evaluate the utility of these very altcoins.

This is a mistake, all altcoins are centralized, that is, they have a central figure in the face of a development team, a large venture capital fund or an influencer who promotes these coins on the market. The whole point of the altcoin industry is to force the crowd to buy some kind of shitcoin, while seasoning it with some kind of another legend about utility, breakthrough technology, solving some global problems and other nonsense. People believe in all this and that's why we see on this forum all sorts of nonsense in style: advise some altcoin as a long-term investment for a period of 5-7 years, or advise some good decentralized altcoin, an alternative to bitcoin. What nonsense to apply such parameters to altcoins. Altcoins are good for a short period of time, 6-24 months, then they need to be sold. Who did not sell, he was left with a bunch of candy wrappers, which depreciate sharply.

Bitcoin is good as a product, as an investment long-term asset, while altcoins are a pump & dump scheme. You can’t use investment timings in altcoins that apply to bitcoin, otherwise it will lead to loss of profit

By the way, by the same principle, one can say that it is impossible to guarantee or advise investing in bitcoin, based only on its past achievements and its growth. The fact that he has been growing all 14 years of his life DOES NOT GUARANTEE that he will continue to grow. Right? However, many still recommend it as a purchase based only on its past success. Neither you, nor I, nor anyone else can be sure that nothing critical will happen to bitcoin today or tomorrow or in a year, which will lead to its collapse.

All investments of small players are based only on their own faith and beliefs. Therefore, I see no reason at all to try to oppose bitcoin and altcoins. These are all risky assets, just with varying degrees of this risk. Someone thinks that bitcoin is the best asset in terms of profitability, someone thinks that altcoins are the best solution. Both have their own truth and their own delusions.

That's right, just like the price chart can also be subjective. Show the Bitcoin price chart to 100 different traders and they will see 100 different events there. There are no direct 100% patterns on the market that will work, otherwise then everyone would become rich. The quality of filtering comes over the years and with accumulated statistics, whoever has more statistics has better filters.


This is the same argument as yours: they can also scam. If several projects failed in the market, this does not mean that now all other projects are at risk. I shift the success of past coins to the possible success of future coins with a similar development of events. You are busy shifting past failures to the possible failures of other coins. Like, if some coins have scammed, then these coins can.

In fact, we are doing the same thing. You see only negative aspects in altcoins, but I see another good opportunity for earning in altcoins.

If the user has studied the market well and has his own filter at his disposal to filter out bad projects from good ones, then I consider it wrong to completely abandon altcoins. With the proper level of knowledge, you can earn money there, and even with minimal investment. An example of such projects as Arbitrum and Arkham shows this perfectly.


I already talked about this in another topic and drew a diagram of the typical behavior of an altcoin:


The mistake most investors make is that they buy an asset more often in the first zone than in the second, and the first zone is exclusively for selling, not for buying.

In bitcoin, too, there have been moments when you wake up and find that you have lost 50% of the value of your portfolio for 1 one. I once woke up like this in the morning, it was in March 2020. All my bitcoins are worth 50% less than they were the previous day.

Why, when we talk about situations where people annually lose billions of dollars on bitcoin, we always give an explanation that this is not a problem of bitcoin itself, this is a problem of those people who mismanage it?

But for some reason, this situation does not work with altcoins. If people lose money on altcoins, then this is the fault of the altcoins themselves, and not people who do not know how to properly manage them.

Although it is obvious that in both cases, bitcoin and altcoin have their own characteristics, and if a person cannot see these features, this does not mean that the asset is doing badly. Nobody ever guarantees a permanent profit in bitcoin or altcoins. For some reason, people themselves decide that they can earn even more with the help of certain assets, only the market itself sneezed at all their expectations. The market lives according to its own laws, which most investors do not want to reckon with.

Therefore, if someone does not want to accept the rules of the game before joining this game, then in case of failures, he should blame himself first of all, and not something else (industry, some kind of cryptocurrency, regulators, etc.).

Most altcoin investors blame altcoins for their failures. Although, if you look into their cases in detail, it becomes obvious why they lost money:

-someone bought at the very top when it was necessary to sell.
-someone listened to some influencer who advertised altcoin
-someone set unrealistic profit targets, the market gave him the opportunity to get 1000%, but the investor decided that soon this asset could give 10,000%
-someone did not study the market at all, but simply made a request on Google, which coins are best to invest in.

It is precisely for such idiotic cases of investing that these widespread statements about the danger of altcoins, about the fact that they are all a bunch of garbage and other things, are then formed. There are a lot of negative reviews about altcoins in the crypto space, mainly because most investors are ordinary market tourists with zero portfolio building experience and any understanding of risks and diversification.

Just a few examples of major failures? Not enough for an industry with hundreds of large-cap altcoins. It's like arguing that walking near skyscrapers is extremely dangerous, because there have been several cases of a heavy object falling on someone's head from a height. From this follows the conclusion that now all skyscrapers are dangerous if you are in close proximity to them?

I also want to note that many altcoins lose 99% of their value, there are hundreds and thousands of such examples. I agree with this and will not argue, but how many examples do we know of large well-known altcoins that lost their value in an instant? There are few such cases. Well, what comes to mind first? FTT, LUNA, BTT, PinCoin, Gemcoin. All? Are these all the big examples of rapidly collapsing coins in the last 10 years? Weak. And if you calculate how many coins grew very quickly? Yes, there are dozens and hundreds of times more. I'm talking specifically about large projects, and not about any garbage that is traded in some unknown garbage dumps and has a capitalization of $5,000. I'm talking about projects that have at least $100,000,000 capitalization.


Well, let's start with the fact that FTT never dropped to zero, it fell to 80 cents, which is still profitable for early investors, since anyone could buy this token on IEO for 20 cents, now this token is trading within 1 5$, that is, with a confident profit. By the way, FTT attracted many large funds, whose entry price was around $0.05. LUNA bankrupted all groups of investors in general, because hyper inflation set in there, FTT brought a loss only to retail investors who bought the token at market prices.

Sometimes altcoins do unrealistic things and reverse all misconceptions about them. For example, you can see how the altcoin TWT (a project with a billion capitalization) behaved against its background, even Bitcoin in 2022 was an unfortunate shitcoin on which many lost their money, while TWT brought profit to its investors for almost the entire last year.

In general, what I want to say with this is that altcoins do not consist of only negative points. The altcoin world is not limited to FTT, LUNA, BTT, PinCoin, Gemcoin. Sometimes altcoins show real miracles of investing - for this they are appreciated. For the fact that they can not only rapidly fall, but also rapidly grow. Bitcoin is a more conservative investment, you won’t earn big money there anymore. Altcoins are a more risky activity, and where there is risk, there is big money. If you don’t want to take risks, don’t go into altcoins. If you don’t want to take risks, don’t go into altcoins.

As a person who has already experienced two market cycles (crypto winter and general hype), from 2017 to 2022, I can say that as soon as the general hype sets in on the market, bitcoin becomes a weak asset in terms of obtaining a return on ownership. It grows slowly, no bonuses are given for its possession, but altcoins can give simply unrealistic returns in a short period of time, and you can still receive all sorts of bonuses if you hold some altcoins or interact with blockchains. But when crypto winter comes, I prefer to have more bitcoin and stablecoins in my portfolio, but fewer altcoins. Altcoins during such periods are one big garbage that is rapidly losing its value.

Based on this, it is impossible to say unequivocally what is better for an investor in everything, bitcoin or altcoins. They solve different problems and are good on different timeframes and in different market periods.

This is absurd, people should read always the terms and conditions of any crypto services. This naive excuse of people will lose funds because they can’t do the KYC is really dumb when we are talking about centralized exchange that accepts fiat deposits.

I will understand this part if the exchange is DEX since people only trade with crypto without fiat involvement but CEX is different because it has license which means they are obligated to follow the law. KYC is not a strategy to hold user funds but rather a compliance to the law for the business sake.

Kyc is mandatory in all centralised exchange. There is no cex that don't require kyc. If there is no kyc how will they be able to trust you in P2P the reason for centralised exchange is to link 2 or more people together in P2P so each one of them can sell his coin to receive cash. Why the other send cash to receive coin so there must be a third party who will help them achieve it and that is the reason they need your kyc to know you more better to avoid fraud. Even if any vex don't accept kyc today may E in the future they wiil.

The initial plan of any exchange is to make profit and a situation whereby the number of people and the coin they have earned is too much for the exchange they won't have any other choice than to come up with the KYC because they know that everyone can not pass the KYC this strategy help them to minimize their rate of loss. That's why most exchange won't talk about KYC till they start experiencing what  is been mentioned above.

Calm response: I'm not pretending I'm having moral principles. I'm not a hypocrite of that kind. I'm actually living by some morals, lots of which I wouldn't compromise for a short-term profit. While I hadn't considered cryptocurrencies from this perspective before, observing the altcoin industry and recognizing that I don't truly value what I own, getting involved into that market for profit only would be a moral compromise.

I mean, completely irrelevant? I cannot control how fiat currency works, nor do I have the expertise to; I'm living in a world where it works as is, and I'm forced to use it. However, I'm definitely not forced to attempt to profit from purposeless, financial schemes.

I don't want to hold or trade something that has no utility. It's just a principle I live by, where I only want to possess items that truly demonstrate their value and usefulness. This can be extremely challenging sometimes, especially when it comes to things beyond cryptocurrencies. Verifying whether a habit or a product is as useful as I imagine it to be is an ongoing process. It challenges my values and reminds me to prioritize what truly matters every day.

Why would I want to be involved in this fraudulent scheme? Acknowledging it serves no real purpose and is just a scam with fancy-sounding words, making money out of it means being part of the deception too. I believe screwing my morals in such a way is probably one of the last things I would do when I'm in need of money.

I'm not feeling certain if you really want to know. Every day when I wake up, a thought lingers in my subconscious - a dreadful scenario that could render my wealth worthless. I would never advise anyone to invest in bitcoin unless they are prepared to throw that money in the trash can. For some, it might seem like an unreasonable risk since they lack access to insider information (which is, again, what sets the rules).

However, I can't disregard all the utility it offers, with people using and needing electronic cash. I can't overlook the astonishing facts about anonymous (or pseudonymous) transactions, decentralized money minting, collective transaction processing, Proof-of-Work, etc. It would be unforgivable not to trust my instincts on this one and witness its rise as I had anticipated. Regretting not taking action outweighs the regret of acting.

When it comes to altcoins, I don't see the same potential.

It does mean that they all have the potential to fail if they share similar properties. For instance, when two dog coins have already failed, it would be foolish to believe that the thousands of other worthless tokens won't experience a similar drop in value. We are all aware that these tokens are not taken seriously; they are simply fabricated, zero-sum financial schemes. Another illustration is the Proof-of-Staked copycat tokens, whose creators aim to generate hype.

I can't, because I don't see good opportunity for earning from gambling either.

They don't ask to much documents since kucoin just need a back to back picture of your id (1 government issued id) and a selfie then you could proceed to Kyc process. There's nothing to get worried about it since there's nothing we can do since most of reputable exchange are now requiring this Kyc requirements to their users. Just make sure you submit a clear image of your ID and you will never get a problem on the whole process.

That's the problem I'm trying to point out. The user can't just study the market well, because they can't reach everything. There's private data that is inaccessible, and owned by the few big folks who do the manipulation. Unless you don't think that info is very important for the user (and neglecting it would make the study "well") then they can never be confident they've studied properly.

By the way, I'm assuming the user can perfectly filter public information, which is also not true. "Filtering" is subjective, because different users will prioritize different parameters that affect the price.

This argument holds as much water as the S2F, or the one which says we will have bull markets every 4 years. There's no evidence other than "look in the chart, it will probably repeat".

What kind of documents are they requiring precisely? Do they require a selfie with some documents or weird messages like many platforms are asking for? I hate those KYC processes, you're kindly giving to them highly private and confidential documents but they are never satisfied with them the first time, they almost always ask you to submit your documents and pictures several times again because for unknown reasons it's never ok for them. 

Maybe its best for people to erase out their worries on reputable platforms since for sure they will not ruin their reputation just for like that and besides Kucoin is really a great exchange next to binance. So they should not worry about submitting some documents since as you said it will make their account more safe and the platform is just complying with those things required to make their platform legal.

Just comply with the requirements pal. You just need to submit necessary papers and ID's for you to be able to trade again and if you contact them on their customer service they usually give you considerations for your unique case. Kucoin is a great exchange because newly launched coins are often tradeable in it. The platform backing it with KYC will just strengthen its security so there is nothing bad about it but only up.

Due to the presence of a genuine technology serving a meaningful purpose and having real-world applications, there exists a clear distinction from the vast majority of altcoins, which often lack purpose and function primarily as financial schemes.

These altcoins offer barely noticeable technical differentiation from Bitcoin and Ethereum and unjustifiably favor their creators with an unfair financial advantage. The failure of altcoins such as LUNA or FTT is not primarily due to technological shortcomings, but rather stems from sudden development setbacks and the subsequent withdrawal of invested funds which hasn't happened in Bitcoin. A brand new such project, whose developers completely ignore the mountainous work done in Bitcoin, entails the unnecessary risks mentioned.

I never argued that. People who invest in altcoins and lose money aren't for sympathy. They should know very well where they're entering. Anything but avoid entering; that's what I'm arguing in the first place.

You make it sound as if it's something objectively obvious. Nobody but the whales define that ceiling with few exceptions. Not regular retail traders. (No, feeling without reasoning you're in the ceiling doesn't hold water)

Except it isn't black or white in cryptocurrencies. Altcoins aren't either going to complete disappearance or are exponentially profitable forever-- in comparison with skyscrapers that are either there or not there. It's quite normal to wake up the next morning and see a -25% in your trading account.

They do, fundamentally, though. Investing in something you know it has no purpose at all, outweighs any short-term potential profits to me. Gambling can also prove to do miracles (and in fact it's rather transparent, in contrast with all those shitcoins), but it's utter nonsense to believe you can really make a living out of it.

Look. I'm not into altcoins. You might know better about trading them in the short-term. I just can't unsee the fact that most of these altcoins appear out of nowhere, seemingly extremely profitable to invest, and within the next year or two they disappear (some completely - $0). I did mention other examples than LUNA, like BitConnect and FTT, both of which seemed too big to fall to $0. I'm pretty sure there are other such examples.

I really like BingX - It has so much market for traders, including commodities, cryptos, stocks and forex. I also like the app it looks very good and easy to use, I think these guys work very hard.

I will suggest Bitget, KYC is non mandatory and its been gaining huge reviews lately now recognised as a top 5 exchange and the biggest Copy trading CEX. Good security —recently announced $300m protection fund, amongst other strengths. Kucoin recently made KYC verification compulsory  btw.

It's not the best designed platform IMO as it seems to be designed for chinese language first, but they're offering the same tools and services as what other large exchanges are offering. You can open an account, trading and withdrawing small amounts without even giving your name and your date of birth(0 KYC), and the 5BTC/day level only need to submit those informations without providing any document.

It's your opinion, and some other users might really see it as nothing (like you said) because even for the members who do add it, I don't even see it as a distraction or an annoying thing when reading their comment. I would gladly read through and just turn a blind eye to the name below because I am not concerned about it. But some members would also see reasons with you, yeah.

Although I quite agree with your first point below.


I have decided to just stop it, I don't need more opinion. Thanks for making me see reasons.

was used OKX so will give it a try as an alt CEX.

I find it annoying, it is true that it may not be against BTT rules, but some may put you in their ignore list >> less chances to see your posts >> less chances to get merits. This is my personal opinion and others may not agree with it. Perhaps it is better to create a topic, quote the text above, ask about it and see the community opinions.

AFAIK, there is no rule prohibiting the use of more than one user per account even if account banned, ban will apply per person not account because i remember this account of @atriz^[1] (was a famous campaign manager) was banned and then it was discovered that he had purchased the account and the account restored^[2]. But this is a good question that may not have been asked by anyone before.

[1] https://bitcointalksearch.org/user/atriz-135920
[2] ? I didn't find the link, but I remember this story, I don't know why ?!

The 5 BTC daily limit is pretty much enough, especially for an exchange where one is only supposed to go trade and withdraw their profit; this is not where to store BTC because you might be required to send out huge amounts every single day. For a personal trading account, I think a 5 BTC daily withdrawal is more than enough.



Is this possible or even encouraged on this forum, where more than one person can operate one account? I know there are business accounts here, but I don't know if they are being managed by more than one person. I'm just asking for clarity.

I have not used AgoraDesk, but it doesn't require KYC to buy or sell Bitcoin, and some members here have recommended it as a good DEX. Well, for Huobi, 5 BTC daily withdrawal is still limited, and for someone who send above their daily limit, they will still have to wait for 24 hours before they can complete their transaction.


Well, it's just been a style I've copied from a few members here. I really admire how it looks sitting below, and I don't think it is causing any harm as it can be quickly ignored after reading a few important things I have written.
 Maybe, I will have it changed to something else or just....


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

In this kind of situation, you don't trust the exchanges to tell you whom they are because they will never say something you may not like, one has to make personal research and findings about them to know if they are actually a KYC exchange or not, we should in addition know that all centralized exchanges are kyc required exchanges and they will surely ask for that, maybe some can check through the list of no kyc casinos.


The same way they will have no option than to bow down to the dictate of the government regulations will be applicable on their users as well when they require some verification through KYC from them, one will have no option than to comply or face being restricted to some certain things.

I seriously started thinking about moving to this platform and trying it out. Do you have any prior experience about it? Average withdrawal between 2k to 5k per month with good support for major trading pairs and adequate liquidity.
Unfortunately, DEXs are still far from being perfect, and even BISQ is suitable for those who want to convert to fiat, although it is still a good experience.
also, you can use this forum and ask a trusted person with a verified account to do the exchange for you, which is an option you can use as a last option.


Sorry to be off topic but why do you use your username at the end of the post? It would be logical if there were more than one user managing the account and not one user.

Some think that Dex is really safe while there are series of events that those platforms are also been affected with hacking so for that incident I will never trust anything especially if leave your wallet connected even if you are aways or give permissions since we are still prone with hacking for that reasons. Much better to ride with the flow and select reputable exchange since we can't avoid those Kyc requirements there's a huge chance that this became a requirement to all exchange in future especially when government regulation will fully implemented on cryptocurrency platforms.

Oh yes, but as far I can see it is still valuable not zero or complete out. We cant deny that it did rekt some of the people due to their ineligible to surpass the short squeezing happened on them and lacking of reserve to back those big short orders. Clearly all their fault. Being an altcoin retailer I can say that the ratio is in still in favor of gaining more than losing. I admit also got caught on this luna but there are other tokens I gained profits along the way as well. Surely you could consider that too.

I think that's irrelevant. Big money changing hands doesn't alter the fact that big money are owned by a couple holders, who own tons of information you don't either.

Anyway. I don't question that retail traders can make a quick buck along the way. I'm just arguing they're playing a game in which they're losers the moment they enter.

LUNA was a big project...

Using cryptocurrency bridges is risky and bridges are targets of hackers. Many big hacks on cryptocurrency bridges and the latest hack on a famous bridge tool Multichain is a hottest.

Paying very expensive fee for your bridged transactions and face with risk from bridges as well as the token on a side chain will be less secured than on its main chain. If you want to have BNB, buy it on Binance Smart Chain, don't buy it on Avalanche, Harmony, Arbitrum if BNB exists on those side chains.

Ronin bridge hack
Multichain hack and its consequences
Crypto bridge hacks
Blockchains Have a ‘Bridge’ Problem, and Hackers Know It

Which DEX would you recommend? Usually DEX have a very poor liquidity and only work on one blockchain. It means you need to use bridges in order to convert the cryptos you want to exchange in wrapped tokens onto the blockchain supported, if they exist. That's usually not easy and smooth at all and you have to pay premium for that. Huobi now allows to withdrawal up to 5BTC a day, by just giving your name, your birth date and your nationality. They will give you a kind of virtual citizenship from the Commonwealth of Dominica.

https://www.huobi.com/en-us/user_center/uc_auth/digital

Maybe except for shitcoin who are useless after being pumped. But for some big projects on altcoins which has set their goal and still doing, I doubt they could go to zero right away. They might, but not rapidly. Ive been an altcoin enthusiasts, and if I started and just hold bitcoin eversince still not gonna have some nice profits compared to converting to some alts with huge multiplier. Yes experienced some losses too but thats normal since some projects are really dubious but we cant generalize all of them.

With the high volume of exchanges surfaces all over the crypto industry we just don't need to put so much trust on these exchanges claiming no kYC, for when the authority puts pressure on them they would have no option to bow to such pressure to continue in business. The no KYC exchanges you know and talk of could be that they are still operating on no KYC requirements because the authority hasn't focus any pressure on them yet. Kucoin is current exemplified.

I have used LBank and MEXC, but the non-KYC requirement is just for certain withdrawal limits. If you must be able to withdraw a certain amount of Bitcoin or fiat, then you will definitely need to pass the KYC, which is just a way they can use to trap your coin. On Huobi exchange too, you are limited to a certain amount of withdrawal if you don't pass KYC. So my simple advice is the same as @Nwada001's. I don't recommend any of those CEX for you. Rather than seeking a Non-KYC CEX, just look for a good DEX that doesn't even require KYC before you can carry out your Bitcoin transaction.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Well, since it's not a western exchange and they've been able to avoid chinese regulation, we can hope they will dare to refuse to follow american and/or european regulation at least for one or 2 more years. But I don't think they will manage to resist indefinitely to be honest.

After what happen to Kucoin where they have been implementing a mandatory KYC then there's a high chance thay Huobi will follow on this since they might encounter a legal issues if they still allowed non Kyc to use their platform. But since this implementation is already happening maybe newbie should normalize this Kyc thing and treat it as normal require to submit so that we wil comply on the requirements they ask.

But mainly against big capitals. The cryptocurrencies that lure investors are those where the big capitals lie on.

Come on now, seriously. If we follow that line of reasoning, then even food can go to 0 in a chaotic scenario, but it's orders of magnitude more improbable than a shitcoin going to 0. Bitcoin has a legitimate userbase, oppositely to almost every altcoin that is a zero-sum scheme.

The task of a retail trader isn't that, indeed; it's to take a small piece of their pie. That, obviously, isn't in favor of them.

"Any asset" can't just go to zero. It needs to be a useless, piece of crap nobody uses but for trading. When trading bitcoin, gold etc., you know you can't just wake up the next day and have your holdings worth 0, which is very possible to happen with altcoins.

The commercialized mentality that has led people believe that they possess knowledge about the risks and rewards associated with their investments, when in reality, they are unknowingly investing in non-transparent financial schemes that fundamentally work against their interests.

This is so true. Ive using both and theres really a huge difference(not only in the kyc but the trading style approach) I suggested OP mexc which I think doesnt have KYC for doing some activity, but he didnt mentioned clearly why he has to use the platform? Does he gonna trade bitcoin alone, or some altcoins. Cause if they gonna trade bitcoin then clearly bisq is one of the best one to use since it doesnt have kyc at all, but if OP wanted to find the same caliber of features like kucoin then he must be probably looking for a feature pact exchange that does have any sort of activity like staking, leverage, and lots of volatile asset.

Ive read down some discussion and clearly you are aware of the difference. From someone's perspective we will have a huge debate especially if you are talking to someone not using any cex(or prefer not to).

---

I guess OP's need to response here for clarity of what his looking for. So users might suggest a specifically the appropriate market exchange.

No I wasn't aware of that, well it's sad because it was of the last large exchanges not requiring KYC. Now since OKX doesn't accept people from my country, only Huobi remains. It's not a bad exchange but I'm afraid they will ask KYC soon as well. Only smaller exchanges like Poloniex or Yobit would remain if it happens.

Most exchanges once upon a time didn't have these KYC requirements unless you needed to withdraw above the set limit say for example 10k bitcoins ...unfortunately these features are nomore and most require KYC to be done.
 
And seeing the title to the thread, kucoin is nolonger a non-KYC exchange as can be seen by the photo when I visited their app

Maybe this is only because of regulatory requirements needed to operate in certain parts of the world...
Otherwise its only exchanges enjoying this whole KYC process and its an advantage on their side...
Talking of KYC, what happens to all the KYC data after its collected? Does anybody audit this data for any data tempering or trade...I don't think so!

however centralized exchanges require KYC as their regulation. in the past many people were against KYC of exchange platforms as well as gambling platforms. they do it all for security reasons. if you are an active user of a platform that ultimately requires you to do KYC. then however you will be squeezed by your needs and desires.
if you don't like KYC, then you can use an exchange platform which until now still doesn't ask for KYC. it's just an option. if you don't want KYC, then we can move to another platform.

The properties of Bitcoin is to be decentralized and anonymous, So why you are supporting to make it centralized and break anonymity?

Actually I either not support any centralized exchanges because there is a higher risk of your assets as you don't have full control on your assets. We know that "Not Your Keys, Not Your Coins". Still now centralized exchanges have many features for smooth trading and higher liquidity. But there your funds aren't secure and also your personal data what you have submitted to verify KYC . Centralized Exchanges can be hacked or either compromised and your personal information can leak in Dark Web or to the hackers. There are some benefits of doing kyc but the risks are worth considering.

I have used kucoin exchange for a long time, during the time I used this exchange, there was no KYC problem in using this exchange. Recently, KYC has been made mandatory for this exchange due to security concerns. And I support it because having KYC verification gives a different level of security to the account. And if the account has KYC verification, fraud is less likely.  If KYC is now made mandatory then every user is required to do KYC on this exchange.

And so do the predators above them. With the exception they have insider info as well and can pull the strings according to their payoff, which in a zero-sum game like most altcoins, this manipulation is not beneficial for the collective welfare.

Not sure what "friendly deposit" means here. It can benefit small investors just as it can make their holdings worth zero.

It appears to me valuable when I examine cryptos like Terra Luna, BitConnect, FTT, OneCoin and probably many others that went zero overnight and were in some traders' preferences at the time when that happened.

I think mexc doesnt need kyc if you are looking for cex type of exchange. I didnt do any kyc but able to deposit and withdraw funds from there. Can even trade different altcoins too. Im not sure what would be the effect of the kyc to kucoin users but definitely will have a huge impact. Im thinking they are being pinned down due to a lot of issues from the SECA about regulations so they are doing this.

Comparably to swap-exchanges like Boltz, I think that a ~0.2% a pretty good deal.

I don't know what makes you say that with such confidence. You know absolutely nothing about an altcoin, unless you have insider information, which is not the case for the vast majority of retail traders. You know nothing about bitcoin in the short-term either, but at least you know it can't disappear.

It's also a lot cheaper (in terms of transaction fees), because you don't need escrow or atomic swaps' fees. If I'm not mistaken centralized exchanges don't take commission when you want to, say, trade bitcoin for ethereum.

Unless you're not a gambler of course, and just want cryptocurrency to spend it. Which, in this case, I think bitcoin is your best choice.

They're the same thing. Swapping, exchanging, trading assets, they're all synonyms. What you're referring to is how regular one trades, which in the case with retail trading is probably everyday?

Well, sure, truly decentralized exchange doesn't come with all the commercialized shitcoins a centralized exchange provides, but I don't believe that someone who wants to buy bitcoin cares much about that.

Not necessarily. I know lots who simply wanted to hold some coins for the long term, and they registered on some centralized exchange to accomplish it, and you know probably too. Decentralized exchange is for those.

I know, but do tiers even matter anymore? Wash trading is about everywhere except maybe a handful of exchanges. All exchanges are about the same for me. Unless they're no-name, it's all risky. There's a chance you deposit to Coinex without a problem and then decide to go to Binance full KYC mode and they flag your deposit as suspicious, demanding for more information that isn't really necessary to begin with. OP asked for a no KYC exchange, this is the best one I have that still doesn't impose KYC to their customers.

No, you can't trade shitcoins like ripple on Bisq exchange, and there is Litecoin but there is no volume for that tradin pair right now (I guess you can always create your own offer).
Bisq is mostly used for trading fiat currency with Bitcoin or Moneor, and you can check all Bisq markets here:
https://bisq.markets/

For BTC-LTC maybe there are few more alternatives like BlockDX, AtomicDEX (not sure about volume), Atomic Swaps or some centralized swap exchanges like exch.cx.

Just use Bisq decentralized exchange, and forget about other centralized exchanges that will end up like Kucoin sooner or later, they are all time ticking ''bombs''.
One issue I have with Bisq is that it can only be used for computers, not for mobile devices, so I discovered one good option called Peach Bitcoin app.
Note that Peach Bitcoin can only work in Europe and there are some daily and monthly limitations for amount of money/coins you can exchange.

In cases when you need alternatives for Bisq you can visit kycnot.me website that has really nice suggestions, and it's updated on regular basis.

DNS can be considered both distributed and decentralized, with some centralization at the root level. While the root DNS servers are managed and maintained by different organizations, the overall system does not have a single point of failure that can disable the entire Internet. If one root server or organization becomes unavailable, other servers can continue to handle DNS queries. Besides, the decentralized nature of DNS extends beyond the root servers.


This is a symbolic representation of the DNS hierarchy, not an operational structure.

Check out this map showing all 123 instances of DNS root servers by the end of 2006. It looks pretty decentralized, don't you think?


Source: https://en.wikipedia.org/wiki/Root_name_server


It's not just the backbone bridges that can be vulnerable to exploits, but even the DEXs themselves and their smart contracts can be targeted by hackers. We've seen cases like the Scream protocol hack, where such vulnerabilities were exploited.

I will assume that these are decentralized exchanges, but they do not accept bitcoin because the way to manage the smart contract in bitcoin is not that flexible as in ethereum, and therefore you will find yourself looking for an exchange that locks your bitcoin and gives you locked tokens like WBTC.

WBTC is more risky than using a non-KYC exchange. At least you have the option on central platforms to evaluate your data or not, but on central platforms, unlocking Wrapped tokens means losing your coins.

To support Nwada001's statement, I suggest reading threads like this one: 8 Best Decentralized Exchanges, instead of relying on non-KYC exchange lists. Although I haven't read the entire thread, it's possible that you will find a decentralized exchange that suits your taste.

sometimes liquidity issues keep people from using P2P exchanges like Bisq. that's why a lot of people prioritize doing exchanges on centralized exchanges which only require KYC level 1 like binance, but for OP, you can try using agorasesk or utopia p2p, I haven't tried using those yet but from what I've noticed it seems that these two CEXs have good liquidity and is having hold a signature campaign.

but if you only want to make transactions in small amounts, you can try using remitano, for those who don't do KYC, the minimum withdrawal amount is $ 100 per day.

Uniswap/DYDX platforms doesn't support trading Bitcoins, it is for ERC-20 tokens and Defi scams, if you want to recommend decentralized exchanges for trading Bitcoin, then there's Robosats and bisq.
Decentralized exchanges are around and active for you to trade if you decide to, they usually don't have drama about dishonesty around them like centralized exchanges, but it doesn't mean they aren't around and active.

Can you come up with a source that the Domain Name System (DNS) is a decentralized system? AFAIK, DNS is a distributed system with hierarchical implementation of many central nameservers.


No, you cannot hack Bitcoin as a network, but you can double spending. we can say you can hack a bitcoin wallet or a cryptocurrency exchange not Bitcoin Blockchain.

As I said they are not (real) DEXs but backbone bridges, these backbone bridges can be hacked. It is better to say that these bridges do not require KYC and are not decentralized.

Simple question, any other exchanges that are not centralized exchanges, because centralized exchanges are the ones that. Are too much about KYC verification, start using uniswap like platforms or the DYDX platform, you don't need to use or pass KYC verification before you can trade your Bitcoin or other assets.

It's a shame that the most trending crypto exchanges in this space are all centralized exchanges, we need more active decentralized exchanges and not just active, the reason why most users still prefer centralized exchanges is because of the users experience.

Well, that's not entirely true. Hacking usually refers to gaining unauthorized access or manipulating computer systems or networks, often with malicious intent. It involves exploiting vulnerabilities in software, hardware, or network infrastructure to gain unauthorized control or extract sensitive information. But, this doesn't mean that a system has to be centralized to be hackable. One example is DNS hijacking / redirection attack. The DNS system is completely decentralized, but it is still subject to malicious attacks (hacking). By a similar principle, all decentralized services are vulnerable to attacks. Even the Bitcoin network (just because something is very difficult to do, doesn't mean it's impossible).

As for (real) DEXs, they can be (were) hacked by exploiting flaws and vulnerabilities in smart contracts running on decentralized platforms, which can lead to unauthorized access or manipulation of funds. It is therefore very irresponsible to claim that they cannot be hacked.

For reference: Smart Contract Attacks: The Most Memorable Blockchain Hacks of All Time


This is a commonly used definition, not the only definition.

The real DEXs cannot be hacked because the word hack comes from the access of a third party to central servers and any DEXs that is hacked is not decentralized. You can say that you can be scammed in a decentralized exchange but your money cannot be hacked.

Your words are correct, but the problems of DEXs currently lie on the user side of a lack of liquidity, which causes slow execution of orders, and there may be no trading pairs for some local currencies. An example of a successful decentralized exchange is Bisq. Increasing the use of these platforms will enhance its strength.
But in any case, it will not become as fast as CEXs.

For a trader, no, but for someone who wants to trade bitcoin for cash or any cryptocurrency, yes.



Interested, it's the first time I've heard of this platform, I'll give it a try. thanks

Kucoin has truly been a delightful experience for me, one of my favorites non-KYC exchanges. However, it saddens me to hear that Kucoin will soon be implementing mandatory KYC requirements. This new KYC update is expected to impact a significant number of users across the globe.
As we adapt to this transition, it's necessary to explore alternative non-kyc exchanges such as Kraken and Gate.io, which also hold promising. I'm particularly interested in hearing the thoughts and opinions of others regarding these.

From my experience, the best, non-KYC are Bisq and RoboSats.

True, best exchange, but it loses in centralization in comparison with Bisq. However, due to the cost of doing on-chain transactions and paying extra in Bisq, I'm staying in RoboSats. Keep in mind the Bisq team is working on trading with lightning; can't look forward on buying XMR with LN-BTC and selling LN-BTC for fiat via Bisq.

They are not Tier 1 exchange and you will have more wash trading volume on Coinex. Coinex ranking on Coinmarketcap is 65 with Trust score is 4.9

Good warning but suddenly new requirement for their service, KYC, is not a worst risk type. You can submit documents and complete KYC. Of course I know risk of failed KYC verification but you have some attempts to do it.

Worst risk type is they can suddenly be seized by government, close their service or scam exit without any chance for you to KYC or withdraw your coins.

If you’re keen on using a CEX, Coinex is the only remaining one I know of. All the others had to kneel and accept their fate as a now-KYC-mandatory CEX.

But it’s best to keep CEX wallet balance low anyway. You literally have no idea when another CEX decides to impose KYC without notice.

It's like temporary solution only for those people who would like to use an exchange but they can't afford to trust to hand their KYC to any platform whether its trusted or not. But for sure if they would find out that they still need to use Cex for sure they will comply to the requirements and get back to the normal trades they do. For me I don't have any problem regarding on Kucoin new implementation since I'm expecting them to do what binance implement to their users.

Are you a P2P user? I think OKX and Huobi are the only best choice as an altenative for Kucoin if you are not a P2P user. All the CEX requires KYC for P2P users that’s why I ask this question at the beginning.

The rest of exchange that doesn’t have KYC requirements are low tier exchange/low liquidity exchange. I don’t recommend using this exchange at all just to dodge KYC because you are literally gambling your funds once you deposit on these low tier exchange because they low liquidity on orderbook that cause huge price impact and sometimes they freeze account for unknown reason.

IMHO, the absolute best platform for buying bitcoin without any KYC is RoboSats. Their model is the best that I have ever come across for a few reasons.

- It can be run entirely within a Tor browser so very limited hardware requirements are needed.
- No identities are required at all. You can generate an entirely new identity for each and every trade which makes it incredibly difficult (if not impossible) to know who is behind any given trade.
- You can send/receive multiple different payment methods and currencies. You can even swap in/out of lightning to get different sats than what you already have on-chain.
- You can delete a robot identity after you are done completing a trade.
- All trade chat is PGP encrypted so you don't have to worry about anyone else knowing about your trade details.
- Trust is minimized with the use of maker bond smart contracts.
- As soon as you complete a trade and delete a robot identity, there is no trace or history of the trade on a platform.

There are probably a number of other reasons to use it but with all of these mentioned above, it is without a doubt my favorite way to buy/sell bitcoin.

I wrote this article not too long ago on how to use bitcoin anonymously that you might find helpful.

If you want to use an exchange without kyc you should use DEX instead of CEX but if you have any reason to use CEX or need a temporary exchange without KYC to exchange multiple coins including bitcoin I would say MEXC. I use it here without kyc any listed coin/token can be exchanged quickly and Deposit and Withdraw are completed very quickly. I use it so I say it but I won't say you use it too but I think MEXC or gate.io without KYC after kucoin can work better.

Obviously Huobi Global will be the best non KYC exchanger after Kucoin. Because it is one of the most popular, secured and a exchange which have a lot of trading pairs with higher volume and a very cheap fees for trading and withdrawals.

But have some other options what I want to add is Cointiger exchange, XT exchange. They are also promising exchanges like Huobi and Coinex because they have a little trading fees, many pairs and a decent trading volume. But I will not suggest to store much funds in these exchanges as they don't have too much reputation yet but also not too bad at all.

Yeah another centralized exchange with temporary no KYC is the choice for @OP, but he need to keep an eye with the exchange's social media or email to get an update about updated terms. If he's not aware about it, then this could be a problem if he's really don't want to submit his KYC.

Usually those centralized exchange will notify their users, I haven't remembered with a centralized exchange without KYC updating their terms in silently.

Use dex instead of centralize exchange if you want to avoid KYC since it will implemented to all of CEX.

Here are the list of top Dex as of the moment https://koinly.io/blog/best-decentralized-exchanges/

Even if they are rated as good Dex you still need to do some research and always listen to communities feedback to avoid getting in touch with those scam Dex exist out of nowhere.

To make an additional contribution on this, we should not always accept the statement from exchanges when they say that you will be decentralized while using them or they will offer you the best privacy offers in your experience with them, as far as they are centralized exchanges they are not safe and cannot be centralized and same time be decentralized, we should learn how to identify an exchange being a KYC one or a decentralized exchange by ourselves, centralized exchanges will always have in custody your keys and will never give them to you, then by now you should have know this that not your keys not your coins.

This thread is posted in Beginners & Help, so it's a general question. If this thread was posted in trading discussion, I could be wrong because if the @OP is a daily trader, swap exchange can't be a solution.

DEX could be hacked, but it's very rarely to happen, moreover if you trade in swap exchange, you'll receive your coins/money immediately. It's almost impossible during you swap your token, the site get hacked at the same time. Some sites give you the private key to access the wallet.

Cool your heads off, when did @OP saying he's looking for a high liquidity exchange without KYC?

The best no KYC exchange is no KYC P2P or decentralized exchange, you can pick Bisq, Robosats, Agoradesk. xchange.me etc.

If the implementation of mandatory KYC on Kucoin will not cause a problem for @OP, he wouldn't create this thread in the first place.

The mandatory KYC rule is the problem for @OP, however there's no centralized exchange is safe even though you don't have any problem using it for one or two years, you need to check FTX where they used to be a Binance killer, but they got hacked and it has been shutdown.

Indeed, the average person wants it to be easy and not complicated. If indeed it is your trading platform. I think just submit your KYC. even if they see from the transaction history that you have done it could be that your status is upgraded to a level 2 user. which can attract more than the minimum limit. Why enter one house and go to the second if the first house is safe and there are no problems.

I would like to mention a thread created by Ratimov where he had wrote all the exchanges which provides you the facility of using exchange without KYC. Just to clear things out, i never used those exchanges so i do not know if they provide the usage of exchange without KYC but i trust the thread so that's why i am sharing it here.

• Current list of exchanges without KYC

I do not know if the list is shared by anyone else so, ignore it if it is, and my suggestion is to go for OKX or Huobi Global but MEXC is also a good exchange so it's up to you to select because there are many exchanges which might not be available in your country like in mine so i cannot get benefit from them but you might.

There is another thread that i like to mention but it's up to you to choose because i also didn't use any of it as p2p contains high-risk factors and you have to be more careful.

• List of P2P/no-KYC exchanges

kycnot.me, not kycnot.com that is not available now but can be a phishing site in future.

There are several peer-to-peer options available but most of them suffer from a lack of liquidity. As far as centralized exchanges go the ones that could be considered as having an excellent reputation are very few and there is no certainty wether they will continue to accept unverified customers. Every single centralized exchange I've used eventually made KYC mandatory.

OKX is one of the alternative ones from the list provided above but if you are not KYC verified your account has limited features.

The only best exchange for me is the Coinex exchange because I have already experienced with them since 2020. The only problem is if you forgot your password and security question because they will force you to submit an ID and selfie. So make sure you save the security question on the piece of paper to avoid KYC.

And who gave Kucoin exchange the title of the best non KYC required exchange, I have not used Kucoin exchange before so I can't fully support the claims regardless there are good no KYC required exchange out there that can match or even be better than Kucoin.

You can do your research and decide which you think suits your requirements, you can make use for the link below to gain more information.
https://bitcointalksearch.org/topic/--5414539

KuCoin had been trying before this new policy because I found it to be one of the most secure centralized exchanges than Binance; because with KuCoin, even if your account was compromised by another person, they would be unable to easily withdraw your funds due to the trading password.

I will just urge you to avoid leaving your Bitcoin on the exchange for security reasons; you can use the exchange to purchase and trade Bitcoin, but you should save them in your personal wallet.

KuCoin wasn’t even that decentralized before when it comes to KYC because it actually do require that to carry out P2P transactions, those without KYC were unverified and they were limited. So I wasn’t that surprised to see them making it mandatory. If you are looking for non KYC exchanges then you to go full decentralize and the best at the moment is BISQ. But there are others too, you check them out here at kycnot.com

All centralized exchanges are eventually going to crave into the pressure and implement mandatory KYC verification. So it's a cat and mouse game. Small exchange promises no KYC --> People rush to use it --> it becomes popular --> it starts implementing mandatory KYC verification --> New small no KYC exchange pops up --> cycle continues

I won't suggest to you the best but try looking out for MEXC, Bingx or Bitget ot Phemex.

-Firstly I wanna say you that this is the wrong board for your topic, I think it's should be on Exchanges or Service discussion boards.

Maybe you should understand now that centralized exchanger is never be reliable. There is nothing you can do about their rash decision cause your funds is in their custody. However, you also cannot remove the centralized exchanger at once because it is needed in many cases.
So in this case you can use MEXC exchanger in the place of Kucoin. It is also a good exchanger among the non-KYC exchangers, Although you can also visit this topic(Current list of exchanges without KYC by Ratimov) for non-kyc exchangers. but always keep in mind that funds should not be held for a long time in these centralized exchangers. Better to get out of here as soon as possible.

If you need a non-KYC exchange, I will advise you to avoid the centralized exchanges. Those who don't ask for KYC will definitely want to ask for it in the near future. The moment they start having heavy volume on their exchange, they will be faced with regulatory challenges. In order to reduce the pressure, they will have to request that users pass through their KYC process (Know your customer).

You can check out this list of none-KYC exchange it was last updated few days ago so I guess it's still current. 
Current list of exchanges without KYC
 
 

As we all users of kucoin have knows the news of Ku-coin putting the KYC verifications mandatory for all users on 15 july 2023.
Ku coin was one of my favourite reliable exchanger specially for the non kyc system. But now they are also putting kyc mandatory ,
So I need some suggestions Which can be a reliable non kyc exchanger like kucoin?