on for money laundering breaches.output: title: Non KYC Crypto Exchanges: A Guide to Trading Anonymously

Looking to trade crypto without revealing your identity or uploading ID verification documents? You’ll need an exchange that offers accounts without KYC.

4 billion for money laundering breaches.output: Crypto exchanges with no KYC are more flexible when it comes to ID verification procedures. The account opening process often only requires an email address or cell phone number. Users can then deposit funds with their preferred crypto coin and begin trading.

Although no KYC exchanges support anonymous accounts, limitations will apply.

For instance, most platforms have 24-hour withdrawal limits. Even so, these limits are often high – meaning they’re suitable for most trading profiles. Users at MEXC, for instance, can withdraw up to 5-10 BTC every 24 hours without completing KYC. At Bybit, the daily withdrawal limit is 20,000 USDT. And when using PrimeXBT, 24-hour limits stand at $20,000.

The main advantage of using a no KYC crypto exchange is anonymity. This isn’t possible when using a traditional exchange like Coinbase, Kraken, and even Binance. Due to increased regulatory pressures, these platforms must adopt comprehensive KYC processes. Not only does this mean users must provide personal information. But also ID verification documents.

This includes a government-issued ID at a minimum. For instance, a state ID card or a passport. Most KYC procedures also require proof of address, like a utility bill or credit card statement. So, by using a no KYC exchange, you can avoid these intrusive measures. Simply provide an email address to get started.

Another benefit is that no KYC exchanges are more inclusive. As long as you stay within the permitted limits, the exchange won’t ask for your country of residence. This ensures that anyone can buy and sell cryptocurrencies – no matter where they’re based.

No KYC exchanges also offer access to a much wider range of trading products. This often includes crypto derivatives like perpetual futures and options. These products aren’t always available to retail clients. So no KYC platforms are a great option if you seek leverage or short-selling facilities.

All that said, exchanges have the legal right to request KYC documents in certain circumstances. Especially if they suspect a financial crime, like money laundering.

News source：https://www.kdj.com/cryptocurrencies-news/articles/money-laundering-breachesoutput-title-kyc-crypto-exchanges-guide-trading-anonymously.html

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