Today, there are few crypto exchanges where you do not have to go through a KYC (Know-Your-Customer) / verification process before you can start trading. Due to Dutch regulations, all exchanges are actually obliged to get to know their customers first. This is, among other things, to curb terrorist financing, money laundering and sponsoring other criminal activities via cryptocurrencies.
So we can be happy that these regulations have been brought into being, but such a process can still be an annoying hurdle. Usually a verification does not take long, but sometimes it is a long wait for approval from the relevant exchange. You also give away a piece of your own privacy, which is a great sin for many.
Unfortunately, you really need access to an exchange first to purchase your crypto coins with fiat money. The great thing is that not all exchanges are located in the Netherlands and therefore do not fall under Dutch law enforcement, which makes it possible to use an exchange without KYC. So do you want to get started right away and is that bit of privacy that you give away too much? Then you can always try it at the 3 anonymous crypto exchanges below without KYC / verification process!
What is KYC?
KYC stands for “Know Your Customer”. Know Your Customer is a policy that financial companies, such as banks, asset managers, as well as stock exchanges and crypto exchanges use to know who their customers are. For example, if you open a new bank account with ING, you will first have to do a KYC check. In short, they want to know from you as a customer whether you are really who you say you are.
It is mandatory for financial companies that fall within the scope of Dutch law enforcement to have a good KYC policy. Such a KYC policy involves identifying and screening each potential client for potential risks prior to admission. XTZ tezos is well known in crypto.
Proof of address (e.g. electricity, water, gas, telephone or internet bill)
This can sometimes be a tedious activity and you still give away some important data that can just be released on the internet in the event of a data breach. On the other hand, a good KYC policy contributes to the safety of your finances and indirectly to the safety of your environment by preventing the sponsoring of criminal activities as much as possible.
Crypto exchanges without KYC
The crypto exchanges discussed below are therefore accessible without giving away your personal information. In some cases, you don’t even need an account. Unfortunately, some exchanges (such as some decentralized exchanges) do not allow you to deposit euros with which you can buy crypto, so you can only exchange crypto coins against each other on such a platform.
If you do not yet own crypto, you will first have to buy digital coins elsewhere with your euros, for example with an iDEAL payment. But don’t worry, per exchange it is indicated below whether you can deposit euros or not, so let’s go!
Binance is the largest cryptocurrency exchange with an ever-growing supply of crypto coins and a buying and selling volume of several billions per day. There are also endless possibilities with Binance, such as. It is therefore not surprising that this exchange attracts so many crypto fanatics. Just about all the possibilities you can think of for making money with crypto are bundled on one platform and that is why it is also our favorite exchange! Ripple is well known in crypto.