Everything is good, but in reality, maintaining anonymity is rather challenging. It is not unexpected that people used cryptocurrency to conceal their financial activity from too nosy onlookers.
Summary of Contents
Why it is necessary to verify
without verification exchanges
Gate.io \sMEXC
BTC Alpha LetsExchange StormGain
It is not necessary to have a blockchain wallet in order to conduct transactions. Only wallet addresses—not the names of the participants in the transaction—are listed in the transaction record. It’s challenging but not impossible to connect the dots between wallets and determine who the owner is. However, you have to acknowledge that it is unlikely that anyone will be genuinely interested in someone who has just converted 0.00005 BTC to USD.
Since there are hundreds of cryptocurrency exchanges operating online, purchasing cryptocurrencies is now technically simple. But a lot of them want account verification.
Why it is necessary to verify
Know Your Customer (“KYC”) verification primarily guards against the site being exploited for nefarious purposes. Verified clients, on the other hand, are safer than anonymous ones. Verification greatly aids in settling contentious situations, such as missing a password or having money stolen as a result of a successful hacker assault, in addition to providing more freedom of action inside the exchange feature.
without verification exchanges
Verification is typically required for transactions involving fiat cash, even by sites with a generally tolerant attitude toward anonymous users.
Gate.io
Since it first came online in 2013, Gate.io is regarded as an industry veteran. Users have access to spot and margin trading on the platform, which supports more than 1,500 cryptocurrencies in more than 2,500 trading pairings. Only cryptocurrencies can be used for fund deposits and withdrawals, although it is also possible to purchase coins with cash. There has never been a single instance of the platform being hacked during its existence, but in 2021 an exchange compensation fund was established as a precaution. Internal codes are used on the exchange to transmit money between merchants.
Although it is not necessary to verify on Gate.io, this is the only way to raise the limitations if you are dissatisfied with them.
MEXC
A native MX token, DeFi tools, spot, margin, and futures trading are all available on the cryptocurrency exchange MEXC. More than 800 trade pairs and over 1400 currencies and tokens are supported on the platform. Digital coins can be purchased with a bank card, and it is also possible to buy and sell for fiat on the peer-to-peer market.
In order to increase account security, 2FA should be enabled. Without authentication, you can trade on the exchange, but you can’t withdraw cash.
StormGain While still in its early stages, the project is very promising. A functional cryptocurrency exchange with several features, including the capacity to top off an account with a card. Spot and futures platforms are supported, and a sample account is available for practise. Create an account without requiring verification. The cryptocurrency exchange holds all required licences and has been published in specialised journals. There are, however, surprisingly few user evaluations on the network because the initiative is so new.
Alpha BTC
The trading platform has a UK registration. On the platform, a little over 100 coins and tokens are supported. Both cryptocurrencies and US dollars are accepted for deposits and withdrawals. The chosen payment option will determine the deposit and withdrawal commissions. Although the trading terminal is quite practical, the exchange only accepts one kind of order.
LetsExchange
About 2000 currencies and tokens are supported by LetsExchange’s lightning-fast cryptocurrency exchange service. No matter whatever coin you choose, AVAX vs. DOT appears to be more beneficial in the long run. It is crucial that you can buy, sell, or swap practically any coin on LetsExchange at the current market rate.