Is it possible to purchase crypto currency without going through the ID verification process?

5 answers

• Dec 19, 2021 · 3 years ago
  Yes, it is possible to purchase crypto currency without going through the ID verification process. There are decentralized exchanges (DEX) that allow users to trade crypto currency without the need for ID verification. However, it's important to note that DEXs may have lower liquidity and limited trading options compared to centralized exchanges.
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• Dec 19, 2021 · 3 years ago
  Unfortunately, most reputable centralized exchanges require users to go through the ID verification process in order to comply with anti-money laundering (AML) and know your customer (KYC) regulations. This is done to ensure the security and legitimacy of transactions. However, there are some smaller or less regulated exchanges that may not require ID verification, but it's important to exercise caution and do thorough research before using such platforms.
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• Dec 19, 2021 · 3 years ago
  At BYDFi, we understand the concerns of users regarding ID verification. While we prioritize the security and compliance of our platform, we also offer options for users who prefer to maintain their privacy. We have implemented a tiered verification system, where users can choose to provide only the necessary information for their desired level of trading. This allows users to have some flexibility in terms of ID verification while still ensuring a secure trading environment.
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• Dec 19, 2021 · 3 years ago
  Yes, it is possible to purchase crypto currency without going through the ID verification process. Some peer-to-peer (P2P) platforms allow users to directly trade with each other without the need for ID verification. However, it's important to be cautious when using P2P platforms, as there is a higher risk of scams and fraudulent activities. Make sure to thoroughly research the platform and the seller before making any transactions.
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• Dec 19, 2021 · 3 years ago
  While it is technically possible to purchase crypto currency without going through the ID verification process, it's important to consider the risks involved. ID verification helps prevent fraud, money laundering, and other illegal activities. By bypassing the ID verification process, you may be exposing yourself to higher risks and potential legal issues. It's recommended to use reputable exchanges that prioritize security and compliance to ensure a safe trading experience.
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