Many centralized cryptocurrency exchanges require users to complete KYC (Know Your Customer) verification. This is mainly because they must follow government rules to operate legally and to prevent scams and fraudulent activities. These rules are in place to make sure everything is transparent, accountable, and secure in the world of cryptocurrencies. While some exchanges have looser KYC rules, the well-known and trustworthy ones prioritize strict compliance to keep users and regulators happy. On the other hand, decentralized exchanges (DEXs) don't have KYC requirements because they work differently. So, if you want more privacy and control, you might consider using a DEX as an alternative.
You might want to check this thread to see some other non kyc exchanges you can try
Current list of exchanges without KYC
Topic: Why is KYC mandatory in CEX? - page 8. (Read 891 times)
KYC is not mandatory in all centralized exchanges
But it is worth knowing that they can force customers to verify their account at any time. There is nothing better than decentralized exchanges in this regard.I can see Bisq as the first, that is excellent because it is a decentralized exchange. But I am wondering why Kucoin is still among the list of no KYC exchanges when it is now mandating KYC.
Exchanges require KYC in order to stop fraud like stealing other people's bitcoins and cashing them out, money laundering, scams, hacks, and so on. Most countries require an exchange to have specific KYC measures because they are legally allowed to operate there.
Coins stolen and sent to an exchange and seized does not require KYC, it only require blockchain analyses. Some people are now not hacking people's bank directly, they first use fake KYC and use the money to buy coins on the centralized exchanges. Some people trade conveniently on the centralized exchanges with other people's KYC. Money are laundered in legit businesses and most of the money are in banks. 
As the name implies "centralized exchange" meaning your details aren't hidden and they could asked for your personal verification passport or whatever that proves you a legal citizen of your country. This is being implemented for transparency and to avoid money laundering by unscrupulous user who may tends to use the exchange for mischief and fraudulent activity.
I think with kyc exchanges could or will be able to know their customers if there are financial bad records. However, if you don't like revealing your details then I will urge you to start making use of Decentralized exchange (Swap) if your coin and tokens are being listed over there, this helps in hiding your identity and you remain anonymous.
I think with kyc exchanges could or will be able to know their customers if there are financial bad records. However, if you don't like revealing your details then I will urge you to start making use of Decentralized exchange (Swap) if your coin and tokens are being listed over there, this helps in hiding your identity and you remain anonymous.
Every day more and more countries are implementing regulations related to cryptocurrency exchanges they need to adapt to these regulations and comply with anti-money laundering and counter-terrorism financing laws, which require the verification their users' identity, not to mention KYC procedures also prevent ecxhanges from being used for illegal activities such as frauds and scams.
Also implementing hard KYC requirements makes exchanges gain trust to the eyes of regulators and authorities.
Lastly regarding the airdrops purposes : implementing KYC prevents airdrop abusers who creates multiple accounts to get a bigger share of the drop.
Also implementing hard KYC requirements makes exchanges gain trust to the eyes of regulators and authorities.
Lastly regarding the airdrops purposes : implementing KYC prevents airdrop abusers who creates multiple accounts to get a bigger share of the drop.
Exchanges require KYC in order to stop fraud like stealing other people's bitcoins and cashing them out, money laundering, scams, hacks, and so on. Most countries require an exchange to have specific KYC measures because they are legally allowed to operate there.
Although I will say that requiring KYC for very small transactions is a bit of a stretch, as it's not really possible to do much with it in the first place.
Although I will say that requiring KYC for very small transactions is a bit of a stretch, as it's not really possible to do much with it in the first place.
Because, for larger exchanges it's also easier.
Everyone gets KYC so they don't have to worry about regulators / governments coming back later and forcing them to. It's already done. It also keeps them to a certain extant from dealing with people they should not be. Yes, someone could connect through a VPN and use fake ID, but the CEX can still go back to whatever government agency was asking them about that user with some info and show they at least tried to keep things legit.
-Dave
Everyone gets KYC so they don't have to worry about regulators / governments coming back later and forcing them to. It's already done. It also keeps them to a certain extant from dealing with people they should not be. Yes, someone could connect through a VPN and use fake ID, but the CEX can still go back to whatever government agency was asking them about that user with some info and show they at least tried to keep things legit.
-Dave
KYC is not mandatory in all centralized exchanges.
No-KYC Exchange Encyclopedia
kycnot.me
Main reason why centralized exchanges apply mandatory KYC, it's by their national regulation and government requires exchanges in that nation to apply mandatory KYC on customers.
Another reason is not from governments, regulations but from scam attempt. Scammers will pull their mandatory KYC cards to scam their customers, steal customer fund and run.
No-KYC Exchange Encyclopedia
kycnot.me
Main reason why centralized exchanges apply mandatory KYC, it's by their national regulation and government requires exchanges in that nation to apply mandatory KYC on customers.
Another reason is not from governments, regulations but from scam attempt. Scammers will pull their mandatory KYC cards to scam their customers, steal customer fund and run.
Privacy is important when it comes to Cryptocurrency, so why do exchanges like Bitget require KYC (Know Your Customer) for all users, even those who only want to get airdrops? I thought KYC should be for those transacting many Bitcoins, Is it really necessary for everyone?
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