A new list of KYC free crypto exchanges has been compiled by a website called Kycnot.me. The main theme of the enlisted exchanges is that these are the crypto exchanges that do not need Know Your Customer (KYC) verification of identity, in order to preserve the crypto’ independence.
Kycnot.me has composed a list of active KYC free crypto exchanges that do not compel the traders to provide personal information via the know-your-customer or the verification of KYC.
KYC free crypto exchanges and more
The website is reportedly concerned with those cryptocurrency exchanges only that are supporting Bitcoin or Monero, stating that Bitcoin is the crypto-asset with the highest adoption, while Monero tends to offer the best privacy protections.
Presently, the website has enlisted 14 KYC exchanges; the majority of them offer are offering peer-to-peer (P2P) trading space for the digital assets.
Nonetheless, the website has included warnings related to half the exchanges enlisted, particularly with regard to tight restrictions for use without verification, related to withdrawal, and demand for some identity information.
It is quite astonishing that the enlisted exchanges do not have BitMEX, Binance, and KuCoin amongst them.
Github, the owner of the Kycnot.me published a manifesto that explains that the website aims to maintain the essence of the cryptocurrencies. In essence, cryptocurrencies are supposed to be self-governed and decentralized. This could only be achieved by facilitating people to track down trustworthy options for buying, exchanging, trading, and using cryptocurrency without the need to disclose their identity.
The manifesto also mentioned that the cryptocurrencies were created in order to break free from the dependency of users on the centralized institutions that are controlling our economy.
Moreover, it also stated that multiple exchanges have now started acting like a bank. While the government regulators have been pushing KYC on various exchanges making the need for this list of KYC free crypto exchanges all the more necessary.