It's important to note that even though these exchanges don't require KYC, users may still be asked to provide personal information when they want to withdraw their funds. This is because most fiat-to-crypto exchanges will require some form of identity verification before allowing users to buy or sell cryptocurrencies.
Can you buy crypto without KYC?
You can buy crypto without KYC, but it's more complicated and potentially riskier than using an exchange that follows KYC regulations. The most common ways to buy crypto without verifying your identity are decentralized exchanges and Bitcoin ATMs. A decentralized exchange is an exchange without a central organization governing it.
What is KYC in crypto?
Know Your Customer, popularly known as KYC, is a set of procedures financial institutions implement to corroborate a customer's identity. KYC is the first stage in due diligence in Anti-Money Laundering (AML), and it helps financial institutions to determine the risk level associated with a customer.
