Bitcoin Forum

Do you know crex24 exchange? No verification is needed.

Is it strange?

It's not and im still using it right now and it's a trusted exchange site but i suggest you never try to send a big amount to decrease the risk. But so far even without any verification process but that was having a good support and my tx gets delivered even faster compared another exchange site which was putting very strict verification process.

Some exchanges do not require verification, there nothing inherently strange about that.
I mean, they might be operating from a country that doesn't require full on KYC or AML.

That said, I wouldn't be surprised if they suddenly asked for verification, once you start trading with large amounts.

What verification are you looking for? Crex24 is only a small exchange, usually what requires verification such as KYC is only an exchange that has a member and high volume, it is reasonable if there is no high level verification

No it's not a strange thing in exchange site, there are also many other exchanges that does not require a kyc unless you want increase your withdrawal limit to 2btc+
By the way, I actually got a good experience in that exchange, there not much volume but it is actually a decent exchange to use.

It depends on the country where they operate.
Also it depends on your trading volume, for small trades you will not be asked to do KYC in most cases. But if you are a big whale you have to pass KYC/AML process.

crex24 is a niche exchange, a small number of users and volume so the government hasn't set their eyes on crex24, yet.
Hope crex24 will stay that way since no one like KYC on trading some very low profile alt coin

The KYC thing must have been generally accepted by users like OP that's why they find it strange.

It is not based on the size of the exchange but where the exchange is located. Some countries like S. Korea would require KYC regardless if it's small or big exchange.

it is strange when "altcoin" exchanges that don't even have any kind of fiat listing or even have any kind of regulations ask for verification not the other way around.
the fact is that none of them should even ask for this kind of verification because it is only mandatory when you are working with fiat and have banks and reversible transactions of them involved and also when you are being forced by the government to comply with regulations.

The exchange does not really require identification of the person, but it is present if you trade in large volumes: https://crex24.com/settings/verification
But I would not recommend holding large volumes on the stock exchange, since you risk losing your money if the exchange is hacked or someone from the stock exchange employees is interested in your money and requests documents from you.
This can be said about any stock exchange.

Many exchanges do not require identity verification up until a particular withdrawal amount. Stex, Mercatox, Coinexchange and the like also. These exchanges are one of the best within the cryptospace in my opinion.Users should be able to exchange their crypt I currencies without unneccesary hassles of identity verification the same way people buy and sell without stress.

Not strange, we have many new and unpopular exchanges that are just trying to use the fact that people hate KCY to market themselves, so they don requite verification so as to get the attention of traders, but you still need to be careful with such exchange. Make sure that you know about them very well before you decide to load their wallet with some coins that you may never get back again.

I have seen many exchanges that has done this too but still packed up. In as much as there are lots of people that dislike KYC, it does still them means that they would make use of risky exchanges that has no much volume and would not be able to execute their orders on time.

It is better you use them for some of your coins that you feel with not pain you when you lose it while you use the major exchanges that we have for your top coins.

I think it's normal. Blockchain.com also doesn't need KYC if you use it, but at least fewer withdrawals if you don't use KYC. That is, there is a part of the exchange that does not require KYC to make a deposit or WD. Likewise with Crex24 which does not require KYC to make an exchange.This is not strange.

For any exchange site that doesn't deal with strict regulation and they will not require KYC verification. Crex is an exchange site which located outside from the country with strict regulation. it's the main reason why this one is not creating KYC and AML verification process. So far crex is an exchange site that has already implemented the biggest WD limit without any verification.

Sometimes verification is not very important if we only have small transactions such as bounty hunter who wants to sell coins that cost under $ 10, crex 24 volume market is still small and most new coins, may be it was strategy from the exchange to get more users

The exchange might be small in volume but I think is a very good exchange because I have used it for almost a year now and it has always been there for their customer even when one of the coin I traded there got hacked , the exchange were able to stop the stolen coin and help the developer to curb the hacker and their system work perfectly well with no way to manipulate.

Crex24 is a good exchange, especially if you want to trade with tiny coins. As always, I warn others that they never should store their crypto directly on exchanges if they don't want to trade. Whenever they finish their trading plans, withdraw all funds to wallets that they have control of private keys or seeds. In crypto, if you don't hold private keys or seeds, you don't hold any coins. They do not belong to you.

Storing crypto on exchanges (whichever exchanges, big or small) contains some kind of risks:
- Exchanges hacked
- Exchanges taken over by authorities (due to money laundering, or whatever legal issues)
- Exchanges do scam exits.

Nothing strange, I'm fine with it...
CREX24 just like Tradesatoshi, STEX, Mercatox, CoinExchange, NovaExchange. Most of coins/tokens listed on there are shitcoin. They are a good place to sell your shitcoin. I have experience using CREX24 exchange and I have no problem with it, everything works fine...

Most of TIER 3 exchange doesn't require you to pass KYC while using their platform, it's normal...

Is Crex a register business in Estonia? same as Cryptobridge?
What about the new European AML regulation law that is comming for 2020?
I believe, one day soon, it will happen like Cryptobridge, you will wake up one morning and go check your account and Boom!!  you will get a message that you will need to verify your account.
Also they have a Dice and no Curacao, Malta, Cyprus or Costa Rica licence, so is also possible that they can get fined or close by authorities.
Not your keys not your coins, better safe in a wallet than on an exchange

You don't have to feel strange because I am sure that many more exchanges don't need verification. But I think that exchange doesn't have a big volume market as the other and we cannot know if they are a legit exchange or not. If you want to use that exchange to trade, you need to be careful because we don't know if they will not make something wrong with their members. You don't need to use big money to trade if you are not sure about the site.

I think not strange. We use exchanges that do not require KYC verification. It's the same as using a wallet in general. It does not require KYC to make a wallet, which is stored in various kinds of coins. And this is safe. The difference between a wallet and an exchange is: if the wallet loses a private key / phrase, the wallet developer cannot recover, while the exchange if the password is lost can be retrieved by reset. This means that the exchange system stores our database, while dompen does not store the database. This is the importance of KYC for exchange users.