Quote from: Mia Chloe on Today at 04:12:02 PM

Quote from: airfinex on November 11, 2024, 08:56:43 PM

Does anyone know what exchange like binance is that doesn't ask for KYC?

Your question is a quite confusing and kinda naive one. Now the two different types of exchanges we have are either centralised exchanges or decentralised exchanges. And one of the major things that distinguishes both of them is privacy and KYC data. Like you should know already, Decentralised exchanges don't require their users to give out real time private information for them to be able to carry out transactions with them. In some cases they can even act as enscrow in P2p transactions.

Centralised exchanges on the other hand make use of real time private data as mandatory before you can trade with them. Some even have levels to KYC for different volumes of trades. So looking for a centralised exchange that doesn't use KYC is quite absurd.

Look, I get that you are trying to make a point about centralized vs decentralized exchanges. But I dont think dismissing the original question as absurd or naive is fair or helpful.

The OP was asking about a specific type of centralized exchange - one that doesnt require KYC verification for simple trades. Its actually a decent question and lots of folks are looking into crypto trading for the first time and get confused by the whole KYC thing.

No need to jump down their throat as if they should already know everything. We were all new to this once.

And for the record, yes it is possible to use some centralized exchanges without going through identity verification, as long as you keep your trading volumes low. So the original question makes sense. Maybe just focus on answering that rather than ranting about centralized vs. decentralized exchanges.