Is it possible to purchase bitcoin without providing ID verification?

3 answers

• Feb 17, 2022 · 3 years ago
  Yes, it is possible to purchase bitcoin without providing ID verification. There are peer-to-peer platforms and decentralized exchanges that allow users to buy bitcoin directly from other individuals without the need for ID verification. However, it's important to note that these platforms may have lower liquidity and higher risk compared to traditional exchanges. It's recommended to do thorough research and exercise caution when using such platforms.
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• Feb 17, 2022 · 3 years ago
  Unfortunately, most reputable cryptocurrency exchanges require users to go through a KYC (Know Your Customer) process, which includes providing ID verification, before allowing them to purchase bitcoin. This is done to comply with regulatory requirements and prevent illegal activities such as money laundering. However, there are some smaller exchanges or local bitcoin ATMs that may not require ID verification, but they may have limitations in terms of transaction volume and availability.
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• Feb 17, 2022 · 3 years ago
  At BYDFi, we prioritize the security and compliance of our platform. Therefore, we require users to complete the ID verification process before they can purchase bitcoin. This helps us ensure the legitimacy of transactions and prevent fraudulent activities. We understand that this may inconvenience some users, but it is necessary to maintain a safe and trusted trading environment for all our users.
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