Review of cryptocurrency exchanges without verification or popular platforms for anonymous trading

.More and more cryptocurrency exchanges appear every year. They are classified according to a number of criteria. In addition to studying the wide range of parameters inherent to a particular trading platform, a trader should not forget about such a requirement as personal verification.

However, those investors who prefer to operate anonymously, i.e. without verifying their identity, can take advantage of such platforms where anonymous trading is conducted.  Quoting Agatha Christie, investors who choose trading platforms without verification prefer to follow the following principle: "Where large sums of money are concerned, it is advisable to trust nobody". 

In fact, there are very few trading platforms that provide access to cryptocurrency transactions without requiring personal information.  If we take into account the platforms that are recognized by traders as comfortable for users, the list is extremely limited at all.  

If you act on your own, an inexperienced trader can spend weeks or months trying to choose the best trading platform for you. We, on the other hand, offer an alternative: to look at the list of exchanges that are most comfortable, by many parameters, for transactions with cryptocurrencies. We have included in the list only those trading platforms where there is no need for participants to be verified.

Since an investor who takes part in exchange trading always risks his money, we believe that the topic of anonymous trading security should be paid close attention. Therefore, we present an objective review, which we have prepared by studying theoretical and practical information, as well as by reading the reviews of real clients based on their personal experience.   

How to choose the right crypto exchange without verification

Review of cryptocurrency exchanges without verification or popular platforms for anonymous trading review

Planning to make transactions on a cryptocurrency exchange platform without verification? Then you, as a trader, absolutely need to be aware of the fact that such a project will be high-risk.  

In order to minimize the probability of financial failure, before starting out on such platforms, where no identity verification is required, we strongly recommend users to carefully read the "first-hand" information, i.e. the data shared by already experienced clients. To get reliable up-to-date information and not be misled by advertising or custom articles or reviews, you should read reviews and comments offered by independent thematic Internet resources, i.e. review sites, forums, etc. The conclusions should not be in a hurry, too. For an accurate assessment it is advisable to consult as many different domestic and foreign independent sources as possible.

Only by learning and comparing the opinions of users, can you understand if you can entrust your money to a particular cryptocurrency exchange platform or not. If the exchange not only praises itself beautifully, but has earned a high rating of trust from users, then it is only worth making a decision in favor of cooperation with this platform.

This means it's time to take the next step: move on to the registration stage and start executing trades on this trading platform after funding your deposit account. 

5 most popular crypto exchanges without verification

In the list below, we have included rating crypto-exchanges, on the platforms of which it is allowed to work without verification. The detailed description and accents on the key characteristics of each platform will allow users to make an objective and maximally correct decision when choosing an intermediary for execution of cryptocurrency exchange transactions. 

№1. Binance 

Review of cryptocurrency exchanges without verification or popular platforms for anonymous trading news

To date, this is probably the most popular crypto exchange not only among beginners, but also among experienced traders of the crypto market. The demand for this site is due to its extensive functionality. Its main difference from most peers is its intuitive interface, which is an undeniable advantage for inexperienced participants of the cryptocurrency exchange market. At the time of writing, Binance cryptocurrency exchange supports 563 currency pairs. The site is notable for its loyal commission policy. We are talking about the fact that the dependence of the exchange fee on the deposit/withdrawal of funds occurs depending on the chosen option. This exchange for working with cryptocurrencies has been adapted for the work of multilingual users, including the Russian-speaking audience. Binance exchange offers a variety of payment processing and methods of profit withdrawal. The list of acceptable currencies is regularly expanding, which makes the platform attractive to a wider range of traders. Verification of users on the platform Binance is not mandatory for those who are just starting to trade on this platform.

What does a Binance trader need to know?

For traders who do not pass the stage of personal data verification, the cryptocurrency exchange provides certain limited options. For example, it can be:

  • blocking access to withdrawal of funds in fiat currency;
  • withdrawal limit (up to 2 BTC per day), etc.

In general, the package of conditions on Binance platform is considered optimal and comfortable, as most traders confirm. Moreover, if you want to convert your profit to fiat currency, you can do it through any exchange service. 

№2. Poloniex 

This exchange platform is more popular among the English-speaking population than among the Russian-speaking users. This exchange is ideal for traders who intend to trade without the need for verification. Available 302 trading pairs. More than 175 digital assets are listed. 

The platform has a disadvantage so far: it is impossible to work with fiat currencies. However, this fact does not significantly affect the popularity of the platform among traders.  Verification on the platform is not required if the trader does not expect to withdraw more than 10 thousand dollars per day.  For comparison, the verification of documents gives the right to withdraw up to 25 thousand dollars). 

№3. Huobi 

This crypto exchange does not force its trader to go through a verification procedure. Huobi platform offers users a simple and concise interface. Even inexperienced users can understand it. There are several language versions of the exchange, including Russian and English.The listing of this trading platform includes more than 300 cryptocurrencies. Particularly popular are such cryptocurrency pairs that have Bitcoin, Ethereum, Litecoin. It is also possible to make transactions with fiat currencies, which is an advantage for most traders.

If a trader has not undergone identity verification, some features of the Huobi exchange will be limited for him. As a rule, it concerns the withdrawal limit (only 0.1 BTC/day, refusal to withdraw profits in fiat currency). 

№ 4. YoBit. 

This platform for trading cryptocurrencies is multilingual and is in demand among traders who do not want to undergo personal document checks. 

 Adapted versions of the platform (in English, Russian, Chinese) are offered to work with representatives of different nationalities. 

To make transactions on the platform, the trader does not have to provide documents for identity verification. Access to digital assets is open after a simple registration procedure on the trading platform: the user fills out a short questionnaire, indicating contacts (e-mail address, login and password to enter the personal account). YoBit crypto exchange protects personal information of its clients, including data on cryptocurrency transactions, profits, etc. The listing of this trading platform has 600 assets (including fiat currencies - e.g., American dollar, Russian ruble, etc.)

This exchange platform has small commissions (up to 3% in average), which are charged for depositing/withdrawing money. The commission fee depends on the payment method chosen by the user. 

№5. Magnr

For the participants of this crypto exchange (which is a follower of BTC.sx - the former name), also no verification is required.  This is a big plus for many traders, although for many of them a significant disadvantage is the small number of digital assets available. Here it is possible to trade only in pairs with Bitcoin coins. And the functionality and interface here are clear, simple, accessible even to beginners. There is a commission of 0.2% for the withdrawal of profit (currency - dollar, bitcoin), as well as 0.45% of the transaction size (trading commission). 

About safety of anonymous trading or the memo to unverified traders

Let's repeat: if a trader is not verified, he should consider the risks when cooperating with trading platforms, which are focused on conducting anonymous transactions. 

For example, if hackers attack, there is a probability that the trader's funds will be lost, but he will not have mechanisms and opportunities to claim compensation. Unlike those participants of the exchange, who have passed the procedure of verification of their account.

Also, if not verified, some platforms do not allow two-factor authentication. This makes the account vulnerable, reducing the level of protection.   

The unverified trader should be prepared that the exchange platform allows not to pass the document verification only at the initial stage of cooperation.  As a rule, this requirement cannot be avoided due to the frequent changes in the sphere of regulation by the supervisory authorities.

A trader should be alert if : 

  • he gets an email with a requirement/suggestion to undergo verification. 

Immediately check the information through the personal account on the crypto exchange and make sure that the company plans to verify the documents (if so, there will be information about it in the "notification" section); 

  • he receives a message requiring copies of basic trader's documents (copy of passport, etc.) ostensibly to restore access to personal account.

It's important to know that crypto exchanges never address clients with such demands, and the verification procedure takes place on the official website. 

This is what scammers do in order to steal traders' personal funds. These messages should be ignored and do not provide personal information.

Review of traders' opinions about crypto exchanges without verification

 

It is believed that the traditional financial system is not stingy with crypto-exchanges that do not require verification - they are scammers who contribute to money laundering. As for the traders themselves, the attitude here is more positive, as most investors are interested in anonymous transactions. 

If there are negative comments, they are usually associated with the lack of certain options. Also they often complain about the low level of customer service, but not about the work of exchanges without verification. 

Summary

The proposed in the top 7 crypto exchanges are the best online venues in this area, which do not require mandatory verification, fix large volumes and are great for daily trading. 

For anyone who wants to execute transactions for cryptocurrency trading, it is necessary to open an account, but it is not necessary to confirm your identity, paying for it a number of privileges.

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