Bitcoin Forum

I'd like to trade small amounts of cryptocurrencies without having to do any sort of identity verification. I don't want to trade fiat at all. I'm only looking to trade small amounts of $25 to $100 worth of cryptocurrencies. I simply want to do this as a hobby without having to jump through any hoops. Are there any exchanges where I can do that?

By identity info I'm guessing you mean bank accounts, driver's license/passport, even phone numbers?  You don't need any of that on any exchange UNLESS you are doing fiat.  I personally use bittrex and poloniex for my crypto-to-crypto exchange needs.  Bittrex doesn't even care if you use a temporary email (yopmail) to set up an account if you don't even want to use your main email.

I didn't know that. Do they have any trade limits? Can I use bitcoin that's already in my wallet? Can you transfer bitcoin back to your wallet?

most exchanges like bittrex for example have different levels of verification requirement. for example the basic of most of them is only requiring you to give them your Email address and enable 2FA and then you can trade small amounts and withdraw small amounts.

You can try with Poloniex, i have tried it and dont have needed any id verification
Can trade all cryptocurrencies and small amounts

Yes, anybody who is planning to do some small trades probably also just testing the water can use wither Bittrex or Poloniex as they are not very strict with verification at that level. I think you have to verify if you want to withdraw fiat money out of their system though I am so sure if that is really the case so talking to the support can clarify things once and for all. I am also into Bittrex because I find it more newbie-friendly compared to other exchanges with confusing interface.

It might help if you share which country you are trading from? Certain countries have way more restrictions when it comes to finance. If it's only small amounts like that, you're more likely to avoid having to upload documentation, but the reputation of the trading platform still matters a lot.

You can do that on any exchanges, exchanges has account levels. At your budget you don't have to worry about identity as you only need an email address. Bittrex gives 3 btc withdrawal limit so you're more than good to go. In case your withdrawing above 3 btc a day then that's the time you may have to provide additional account details.

So could you do this with btc for waves or other altcoins/

You can try Bittrex. Im trading there for months now. Not encountered any problems. And i think it's a decentralized exchange which don't require you to submit any documents for your identification in able for you to trade. You can try also Bitsquare. Same also with Bittrex. Decentralized exchange. But beware with decentralized exchange because government can easily make it not operational. That's why we rarely see these kind of exchange. They are good tho. I just don't know what's the maximum withdrawal there. $100 is a good start. Waves is good buy these days. Check it out.

Anyway, centralized exchange platform are more secured than decentralized exchange because  it is supported by government. So traders prefer centralized exchange. Besides, most of the exchanges are now implementing this system. You can still trade to centralised exchange without submitting your IDs. You can do that on Polo. But if you want to maximize your deposit and withdrawal limit. You can level up your profile by verifying your identity.

I have not found the limit of trading for Bittrex or maybe I missed something.
But for a minimum purchase in one trade is worth 50k sat.
Yes, you can directly use Bitcoin in your account wallet. But make sure that your deposit is confirmed Bitcoin network.
For this I do not understand what you want, why do you want to withdraw or transfer directly after making a deposit to an exchange account. but it's up to you and surely you can do that, But in bittrex they have daily withdrawal limits for unverified accounts

Bitrrex is a good trading website that doesn't need to verify your account with government ID's or any related to that unless you are trading more than $20,000 worth of bitcoin. In bittrex you only need to verify your number and also put some random name for basic information and after that you can do trading on their site without worrying about your identity.

I just want to give all this a try. I don't know if it's something that I want to do long term. I will go this route if I find myself interested in it. I'm just seeing what all this cryptocurrency stuff is all about.

I have never met an exchange asking for my ID just to trade cryptocurrencies. Usually, they start to ask some ID documents as soon as you want to deal with fiat (deposit/withdrawal)

If you want to trade coin to coin, like BTC to ETH I've successfully used Shapeshift.io a few times.

Although they say there is no fee, the fee is calculated in the exchange rate. Usually they charge around 1 or 2% which may or may not be acceptable for you.

Yes, most of the trading websites on the event of withdrawal mostly request for an ID verification. Even this can be skipped in several trading websites. If the way of trading is pairing with other altcoins then a small percentage will be deducted as fee and rest gets converted to the respective altcoin chosen.

Some exchangers do not accept U.S. citizens. There are also wallets where you can exchange anonymously.

You could use bittrex, hitbtc, localbitcoins, bitfinex with a vpn I think. There are plenty of ways as long as you don't touch the usd fiat. The fiat is where the laws start to come into play and you have to verify. Only a few exchanges do large volume with fiat, with no verification, like btc-e, but they are closed down now.

My thoughts are Shapeshift.io. Before I write, I read from above only you who recommend the same thing that I want to write. I think You are not a newbie ;)

Bittrex was a good option, but they are quickly moving towards more intensive verification levels and said they plan to implement mandatory basic verification for all accounts sometime in the future.

Yobit and Nova Exchange are the smaller exchanges with lots of altcoins and no KYC. There may be some other Chinese exchanges (Bter?) but I don't know them very well.

You mean decentralized exchange? Yes, there are still decentralized exchange. Which means you can trade without giving any IDs. You can bitshares.org, bitsquare.io, or counterparty.io. They are available decentralized exchanges as far as i know. But first thing you should do before jumping on decentralized exchange. Are the Pros and Cons of decentralized exchanges.
Pros

1. User control Funds
2. Anonymous
3. No hacks and server downtime

It's the contrast of centralized exchange which exchange itself is controlling/holding the funds, not anonymous and prone from hacking & server downtime (which we experience often).

Cons

1. They are not easy to use
2. Basic functions
3. Low liquidity

The cons are quite serious. Unlike centralized exchange, it's easy to use, advance tools and features and the liquidity is good.

Bittrex is still a good option bro :) their movement towards intensive verification is far from near future and the OP wants to trade crypto to crypto for a  short term
So bittrex will be the best optoin for him to complete his task. I agree with Yobit , it is a good platform for trading too especially when they have no KYC  :P
But there are a lot of shit coins on yobit which makes yobit look like a crappy website. I like its investment platform though  ;D

Nah, for me i don't recommend yobit to anyone particularly to newbies as it have too many shitcoins with a very low volume and yes too high fees also.

to be honest bittrex or poloniex are good for op, yes they have various ways and levels of verification but op only wants to trade for a hobby so small amounts

ranging from $25 - $100 is his target, its perfect for the tier one account on bittrex or polo. and yes op no verification will be done on tier one. You maybe asked

for your email but you can just make a dummy one. you maybe asked for your phone number but its not like they will know your identity. you maybe asked

for your full name but as always you can just fake it.

I guess there is nothing to be worry about identity because if an exchanges was fully legalize it is a must because your earning is real and once you've encountered a problem you can get back your account and funds.

I think you are confused with use of cryptocurrencies. They do not need identification at all to do the exchanges. The fiat when taken from your bank account will be the one who will ask for the verification process.

To do the exchanges,  buy/sell of the crypto currency you just need supported wallet and most important the exchanger platform where you will actually do the exchanges of two different coins. They will not ask you identification. Not even email ID, lols, that's the beauty of crypto world.

Personally I like liberoptions
1. Fully anonymous,
2. Very small amount can be traded for beginners
3. The trading is not bounded to bitcoin rate.

The anonymity is the most cherished feature of the crypto currencies. You can own money more here than banks or governments allow you in practical world and that too without getting liable to taxes. Taxes are those viruses that infect everyone who is loyal with their country.

first of all OP is asking for a place to trade and according to a quick google search what you are introducing is a gambling site not a trading website aka exchange. here is the announcement: https://bitcointalk.org/index.php?topic=929836.0

secondly even if you are talking about something else than what I found, a website that is unknown and nobody has ever heard of it is not really a good choice for trading. and I can not find any information regarding this on the internet or this link: https://coinmarketcap.com/exchanges/volume/24-hour/ which is the list of exchanges. you better stay away from things like that.

I believe Kraken is an option too for small amounts.

I wouldn't enter one of these exchanges fully expecting to stay ID free forever though. There are endless examples of people having withdraws frozen until they provide docs.

You're playing on their platform and their rules. Eventually no ID will be a thing of the past everywhere other than decentralised options. The Man is closing in.

Exactly you are right. What I like about bitcoins most is the feature of being anonymous. You can buy many bitcoins on one address, even it is not a good strategy, but still it is not revealed d to anyone. No one can see how much bitcoin I do have. Rather than banks and government are asking for more taxes if you deal more with banks. So bitcoins are love.

Bitcoin address remains anonymous. But for transactions, ID verify is needed, i believe it's for our good in long term. We are traders not money launderers. So, when ID verify is recommended, why not we do. And that if we assume crypto is precious.

You can use liqui.io its never asked you about your id verification. so you can use it freely.also you can use  poloniex.com , it may asked id verification for overcoming withdraw limit.if you upload id then you can withdraw a lot of Btc at once. cryptopia.co/nz is also a good site for trading without ID verification.

You are right.Looks Bittrex has already implemented this the most unwanted 'mandatory basic verification'.Many already reported that their very basic verification failed saying that something like 'there was no match of records'and their withdrawls are denied.Beware and avoid Bittrex if you do not like documentation.

you can trade in every exchange you want without any KYC, the KYC is required to level up your withdrawl limit as well if you want to cash out fiat, however if you want a better choice you can look at all decentralized exchang out there: BCO WAVESdex, BTS,  ZRX based Relayers and so on