If you are, you have come to the right place.
I am going to tell you about a few altcoin exchanges that allow you to trade without going through the KYC and AML check. Not only this, there are no withdrawal or deposit limits to stop you from buying/selling bags of altcoins.
Needless to say, this will be the norm once the decentralized exchanges increase their market share, which I think is going to take a while.
Until then, we can use these services, some of which are centralized and some of which are decentralized, to avoid KYC and AML to protect your privacy.
Changelly,a centralized cryptocurrency swapping service, which does not push you to complete the KYC or AML in order to use its services.
There is no ID verification registration that you need to do for using their services. For enhanced security, you can even use this service with a VPN.
This method, however, requires you to have supporting altcoins like LTC/ETH/DASHetc to exchange for BTC or any other supporting currency. If you have altcoins, you can buy Bitcoins in seconds with no verification using Changelly.
Use ShapeShift Now
BitShares is decentralized exchange based on graphene blockchain technology.
As it is a decentralized exchange, there is no need for any verification, KYC or AML, before using this service.
Opening an account on BitShares is quite easy as it doesnt require any registration or KYC to start with. The only thing that you need to take care is your login password and username because that is what will help you in case something goes wrong.
Your password will look something like: P5KSgr3tMUE4vLo9uwWJScsD5sQYg6BLa7QCT3e9XTe6C
Thevolumeat the time of writing on this exchange is 1900 BTC which is fairly decent for a decentralized exchange with no AML or KYC.
Use OpenLedger Dex Now
CryptoBrige is another decentralized exchange which has come up only recently.
Being a decentralized exchange means this too doesnt require any AML or KYC. They also have their native token called BCO which you can hold and stake to receive bonus rewards from the CryptoBridge exchange. If you want to deep dive into BCO and CryptoBridge, read this detailed guide on CryptoBridge DEX.
The login process is quite simple where you simply need to select a unique username post which a cryptographic password will be generated automatically which you need to note down and keep safely.
The password will look something like:P5K19WQQp1WWtWQjXwDA2cmPpoyqJhcCfhqYQt5TFC4tW
Thevolume at the time of writingon this exchange is 201 BTC which is not a bad number for a decentralized exchange with 56 cryptocurrencies/crypto assets pairs listed on it.
Use Crypto Bridge Dex Now
How to Stake BCO on CryptoBridge Decentralised Exchange [Tutorial]
Bitmex is another centralized exchange which doesnt require you to undergo AML and KYC for deposit and withdrawals.
Despite it being a predominantly BTC exchange, you will also find some altcoins like DASH, Cardano, Bitcoin Cash, Ethereum, Ethereum Classic etc.
When you use the Bitmex exchange, you need not worry about liquidity because it has a humongous volume of over 126,000 BTC with a ranking in top 10 on CMC.
5.Bisq (aka BitSquare)
BitSquare is a peer-to-peer marketplace forcryptocurrencieslikeBTC, ETH etc. It is a fully decentralized exchange which requires no name, email ID or verification so there is no question of KYC or AML.
Also, your privacy is secured because it uses Tor and doesnt hold fiat or bitcoins on their serversor in their account. Currently, itsupports 126 cryptocurrencies(including BTC) and is available on Windows, Mac and Linux platforms. The trade volumes, however, are low.
Thevolume at the time of writingon this exchange is 4 BTC with 11 cryptocurrencies/crypto assets pairs listed on it.
Here is an introductory video on Bitsquare:
EtherDelta is an altcoin exchange only for Ethereum based tokens also know as ERC 20 tokens.
It is also a decentralized exchange so there are no deposit or withdrawal limits or any requirement of AML or KYC.
The only drawback of this exchange is the speed as everything you do on this exchange is smart contract-powered and requires you to pay GAS price.
Thevolume at the time of writingon this exchange is 1308 BTC with 335+ cryptocurrencies/crypto assets pairs listed on it.
Note: Do not leave your cryptos on EtherDeltas contracts. Instead you can use this exchange safely without worrying about hacks via Ledger Nano S (Link Ledger Nano S & EtherDelta Article)
IDEX is the most advanced decentralized exchange for Ethereum-based tokens.
It has gas-free cancels and limit orders which you will not find in EtherDelta. Being a decentralized exchange means that one doesnt need to go through AML or KYC verification for trading on it.
To get started on IDEX, you can simply create a new account and save your private keys offline and also use this exchange in tandem with Ledger Nano S without the fear of getting hacked.
Thevolume at the time of writingon this exchange is 590 BTC with +100 cryptocurrencies/crypto assets pairs listed on it.
I think not requiring AML and KYC will become more mainstream this year because a lot of decentralized exchanges are in the pipeline which may put the centralized exchanges under pressure to get rid of the KYC requirements.
Also, having AML and KYC goes against the basic tenant of decentralized currencies which is why we are witnessing the unprecedented development of decentralized infrastructure which is putting privacy at the forefront.
Well, that is all from my side.
Now it is time to hear from you: If you know more altcoin and cryptocurrency services that dont require AML & KYC, share it with us in the comment section below.
Some hand-picked articles for further reading onCoinSutra:
- Ether Price Targets $160 as Altcoins Rally and BTC Trades Sideways - Cointelegraph - December 13th, 2019
- Ether Eyes $160 As BTC Oscillates And Altcoins Rally - - CryptoVibes - December 13th, 2019
- Whats the outlook for Litecoin in 2020? - Coin Rivet - December 13th, 2019
- Ethereum Classic is the Top Altcoin in Daily Active Addresses, Heres Why - Coingape - December 13th, 2019
- Nike Shoes and Ethereum? Why Not - Altcoin Buzz - December 13th, 2019
- Top 3 price prediction Bitcoin, Ethereum, Ripple: Altcoin auto-MATIC carnage - FXStreet - December 11th, 2019
- Altcoin Meltdown Intensifies as Tezos, Ravencoin, VeChain Take the Plunge - CCN.com - December 11th, 2019
- Altcoins: Could This Be the End of Tokens? - CoinCodex - December 11th, 2019
- Latest Litecoin price and analysis (LTC to USD) - Coin Rivet - December 11th, 2019
- Bitrefill and Bitfinex Are Now "Partners in Crime" - Business Partnerships - Altcoin Buzz - December 6th, 2019
- Altcoin apocalypse XRP, Bitcoin Cash and ZEC over 90% removed from ATH - Born2Invest - December 5th, 2019
- Which Major Altcoins Will Still Be Top Ranking Long Term? A Historical Review of the Altcoin Market's Past Perhaps Provides Clues Crypto.IQ | Bitcoin... - December 4th, 2019
- XRP Added to Japanese Altcoin Market by BitFlyer - The Coin Republic - December 4th, 2019
- The Worst Is Yet To Come For Altcoin Market Cap - newsBTC - December 2nd, 2019
- Altcoin Apocalypse: The Number of Dying Crypto Currencies Is Rising - newsBTC - December 2nd, 2019
- Altcoin Dominance Steadily Increases While Bitcoin Takes a Dive - BeInCrypto - December 2nd, 2019
- Learn The Basics of Masternode Investments: An Exclusive Interview with Iakov Trevor Levin of Midas - Coinfomania - December 2nd, 2019
- How to Beat Bitcoin With Altcoins (Using the BMJ Crypto Portfolio Optimization Tool) - Bitcoin Market Journal - December 2nd, 2019
- Massively Successful: That is What Electroneum Wants To Be - Spotlight - Altcoin Buzz - November 23rd, 2019
- Google a Threat to Bitcoin? Community Disagrees - Finance and Funding - Altcoin Buzz - November 23rd, 2019
- Heres How Much of Each Major Altcoin Is Owned by Whales - BeInCrypto - November 21st, 2019
- Altcoin Volatility Rising, But Alt Season Wont Arrive Until Bitcoin Volume Returns - newsBTC - November 21st, 2019
- What will it take for a Litecoin bull run in 2020? - Yahoo Finance - November 21st, 2019
- Crypto Analyst: Ethereum, XRP and Altcoins Poised for Major Rally As Bitcoin (BTC) Dominance Drops - The Daily Hodl - November 18th, 2019
- Bye-Bye Bitcoin? Why the Altcoin Bottom is In - newsBTC - November 18th, 2019
- Proof of Stake Creator: Bitcoin Unlikely to Dominate Altcoins in Long Run - Ethereum World News - November 18th, 2019
- Best Bitcoin/Altcoin Wallets For iPhone [2019 Edition] - October 1st, 2019
- Crypto Conundrum: Bullish Bitcoin Price Action Halts Altcoin ... - April 24th, 2019
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- Bitcoin History Part 5: A Wild Altcoin Appears - Bitcoin News - January 9th, 2019
- Latest News on Altcoin | Altcoin Breaking News | DC Forecasts - January 9th, 2019
- Altcoin Daily Preview: Tron (TRX) Could Bounce back ... - January 9th, 2019
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- Altcoin - Investopedia - December 12th, 2018
- GoChain (GO): Here's Why This Altcoin Might $GO All The ... - November 10th, 2018
- Find The Best Bitcoin, Altcoin, or Multi-Cryptocurrency ... - November 10th, 2018
- Altcoins Explained | The Best Altcoin Guide for the Beginning ... - October 3rd, 2018
- Altcoin.io | The cryptocurrency exchange of the future | Wefunder - September 30th, 2018
- Android Bitcoin ~ Altcoin Price Ticker ~ Coin Maker - September 4th, 2018
- Altcoin News Archives - Ethereum World News - August 7th, 2018
- How to Choose Which Altcoin to Invest In? - Coinidol.com - August 7th, 2018
- Altcoin News | Altcoin News today | Latest Altcoin News - July 27th, 2018
- USING ALTCOIN TRADER - rsainvestments.blogspot.com - June 24th, 2018
- Guide: Compiling an altcoin daemon in Ubuntu Linux ... - May 31st, 2018
- Top 3 Altcoin Trading Exchanges - [Reviews and Ratings] - May 27th, 2018
- PacCoin VPS Masternode Guide AltCoin Guide - May 12th, 2018
- Asian Cryptocurrency Trading Roundup: Top Altcoin is Tron ... - May 10th, 2018
- Alternate Cryptocurrencies aka altcoins r/altcoin - reddit - May 9th, 2018
- Garzik Forks UnitedBitcoin Away from "Maximalists" to Support Altcoin ... - April 13th, 2018
- Bitcoin, Altcoin and Cryptography explained - April 4th, 2018
- ZClassic and the Bitcoin Private fork : altcoin - March 4th, 2018
- Altcoin Trustworthy Decentralized Cryptocurrency Exchange? - March 4th, 2018
- Blockfolio Bitcoin Altcoin App on the App Store - March 4th, 2018
- Morning Asian Altcoin Trading Roundup: the leader is Tron - February 28th, 2018
- Webinar: Bitcoin Overshadowed by Altcoin Surge - Nasdaq.com - February 12th, 2018
- Bitcoin Mine News Bitcoin & Altcoin Mining & Trading News - January 7th, 2018
- Ethereum, Litecoin Prices Headline $20 Billion Altcoin Rally - January 7th, 2018
- What is an Altcoin? - CryptoCurrency Facts - January 4th, 2018
- What is an Altcoin? - ccn.com - December 20th, 2017
- Trading Bitcoin for an Altcoin Won't Shield You From the IRS ... - December 20th, 2017
- Buy or Sell Bitcoin, Litecoin, Altcoin Multi Crypto Currency ... - December 20th, 2017
- Altcoin Exchange Performs First Atomic Swap Between Bitcoin ... - December 6th, 2017
- GitHub - ander7agar/altcoin-rpc: A modern Bitcoin Core REST ... - December 2nd, 2017
- Altcoins - BTCMANAGER - November 28th, 2017
- Markets Update: Bitcoin Bull-Run Primes Altcoin Markets for ... - November 25th, 2017
- Altcoin Exchange, the Decentralized Cryptocurrency Exchange ... - October 17th, 2017
- Altcoin Watchlist | Meet & Learn Cryptocurrencies - October 4th, 2017
- CryptoCurrency Investing: Research and Due-Diligence ... - September 6th, 2017
- ATC Coin Review: ATCC altcoin with massively inflated ... - September 5th, 2017
- JRM Altcoin Update - Quit chasing the headlines! - YouTube - September 4th, 2017
- Bitcoin Cash Statistics Confirm BCH is Just Another Altcoin - Live Bitcoin News - September 2nd, 2017
- Which Altcoins to Buy This Week? (31st of August, 2017) - Live Bitcoin News - September 1st, 2017
- OpenBazaar Developers May Introduce Altcoin Support in the Near Future - The Merkle - August 27th, 2017
- Exante launches XAI, the world's first altcoin fund - GlobeNewswire (press release) - August 25th, 2017
- ALTCOIN | Bitcoin Insider - August 23rd, 2017
- Altcoin Forum - Alternative Cryptocurrecies Location - August 23rd, 2017
- Op Ed: Drivechains Could Kill Off the Altcoin Market - August 22nd, 2017