Post
Topic
Board Service Discussion
Re: Any exchanges with no ID requirement if no fiat involved?
by
jerry0
on 05/12/2017, 02:49:12 UTC
Im confused.  So you could buy altcoins with btc with no id verification on binance and hitbtc?  Can others confirm here?

On Binance, unverified users can trade bitcoins/altcoins and are allowed to withdraw 2 BTC (or equivalent) per day. If you need higher limits, ID/passport is required. Not sure about HitBTC but I've definitely heard that people trade there with no verification.

If you are willing to have the wallets of whichever cryptocurrencies you want to trade on your own computer, you can't go wrong with Shapeshift or Changelly. I have used both of these without a problem.

I'm a big fan of this method of trading (wallet > Shapeshift/Changelly > wallet). In a pinch for short-term trading, multi-coin wallets like Exodus and Jaxx are an option, although they aren't ideal for security. MEW can also be used for all the ERC-20 tokens.

The only issue with them is that not only do they not act as a wallet at all, but they also may have significant fees depending on which cryptocurrency you are trying to exchange since all of the trades have to be done in their corresponding blockchains.

The fees they charge generally reflect the commission + spread on exchanges. The only asset with somewhat high network fees is BTC (not great for small transactions). To Erik Voorhees' credit, Shapeshift did switch to Segwit recently, which has somewhat mitigated that.



Can you tell me what coins myetherwallet supports?  I have an account there but i saw there is only ETH.