Website Compiles List of KYC-Free Exchanges, Along With Some Warnings

Web site Compiles Listing of KYC-Free Exchanges, Alongside With Some Warnings



A brand new web site looking for to compile an lively record of each cryptocurrency trade that welcomes merchants in some capability with out forcing them at hand over private info by way of know-your-customer, or KYC, verification.

Kycnot.me is just involved with exchanges that help Bitcoin (BTC) or Monero (XMR), asserting that BTC is the most important crypto asset with probably the most adoption and XMR affords the strongest privateness protections.

Web site tracks KYC-free crypto exchanges

The web site at present lists 14 KYC-free buying and selling platforms, lots of which provide a peer-to-peer market for crypto belongings. 

Nevertheless, the positioning has listed warnings regarding greater than half of the exchanges talked about — together with noting tight restrictions on verification-free use, withdrawal quirks, and requests for sure id info regardless of the absence of KYC necessities.

Surprisingly, the record doesn’t embrace the favored exchanges Binance, KuCoin, or BitMEX.

KYC incompatible with ethos of crypto

In response to a manifesto posted by the web site’s proprietor to Github, Kycnot.me particulars its mission to “protect the decentralized and self-governed essence of cryptocurrencies” by “mak[ing] it simpler for individuals to search out reliable methods to purchase, trade, commerce and use cryptos with no need to determine themselves.”

The put up asserts that cryptocurrencies have been created “to untie the dependency between the customers […] and the centralized entities which are in management […] of our financial system,” including that many “KYC and AML exchanges have grown to “act precisely like a financial institution.”

Kycnot.me invitations ideas and suggestions from group members.



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