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I have been meaning to get back into trading and futures for a while. I left binance do with KYC but thinking of sucking it up and excepting it. Looking at alternatives though dydx came to my attention. What are they like and is there any other good Perpetual exchanges that are non KYC

The decentralized exchanges tlare the ones that you can go for. I do not know how the fee is, but you can try the ones like Pancakeswap which is BEP20 and compare it with ERC20 exchange like dYdX.

Know that decentralized exchanges can be exploited too by hackers.

I still prefer centralized exchanges for trading derivatives. Maybe because I have not used decentralized exchanges before for it.

You can still use some no KYC centralized exchanges too: No-KYC Exchange Encyclopedia (https://bitcointalk.org/index.php?topic=5461920.0)

But KYC can be asked at anytime.

I didn't knew that Pancakeswap has options for Future trading too, I just get to know about it now by reading your post. (Thanks for that). And if we can do future trades on PS then why going for DYDX, DYDX is a new exchange while Pankcakeswap is older and most trustable too. So, if i have to chose as in OP's place then i will go for PS.

I do agree with your points, that many platform not asking for KYC at start might ask for KYC after sometime or when the trading volume will begin to increase. OKX would be a better option too. Houbi is also on the list but now i will suggest OP to not trade in Houbi because it has some red flags. You can read more in the following threads:


Other than that if you wanted a list you should visit this website for better options.

https://www.techopedia.com/cryptocurrency/best-decentralized-exchanges

Hmm buddy No hate for the Centralized exchanges, I just use to criticize them for privacy reasons. At the same time, I use to appreciate their role in the crypto adoption whether it was due to their marketing strategy or their Brand name in the industry and their attractive services. Decentralized exchanges are still in the age of evolution where their services are more efficient and attractive. DYDX was one of the most hyped decentralized projects but unfortunately, with their bad tokenomics they lost their real face value still it is on the best platforms in the DeFi space. GMX is one of the leading names in PREPs. DYDX is one of the leading names but I will prefer GMX.

KYC is annoying for some people but for some , it's not that sensitive, some centralized platforms as well offer their Non-KYC services as Ku-coin. I had used it personally but as I never trade with the leverage so it's not my type. Spot play is Safe play haha.

Since you already are giving exceptions to Binance just so you can trade, I guess you are up to making money by compromising anonymity. Ain't no shame in that, there are lots of people who have been weighing their goals and their standpoint. I think you should personally try the dydx first so you have a point o comparison just when you're going to Binance. 

If there is just an Android version of the dydx, I would have used it every now and then. But I'm just looking at it whenever I get the chance using my desktop.

Whether we do really like it or not but we cant really that deny that centralized exchange platforms does really give out that kind of convenience on which we cant really be able to experience on using up a DEX.

Even though we do really mind about decentralization and anonymity but we cant really still deny the fact that being convenient and easy access and tons of options on which you could really be able to do with CEX.
This is why in comparing about liquidity and volume then CEX does have the upperhand which it isnt shocking, we people do love that decentralized stuff but in speaking about using up some services or platform
then nothing beats out these current exchangers that been offering. This is why its not really that shocking that people would really be coming or using up the most convenient way.

KYC is becoming  that more evident on crypto based platforms and sooner or later then most of the current existing ones would really be getting inline on such protocol or requirement.
Somehow there are still some places which are really that going that non asking kyc still.

The only negative I see about decentralized exchanges is that the cost of trading is much higher. Each swap costs way more than orders on centralized cryptocurrency exchanges. So if you are a daytrader, you might find it difficult to pay 1% fees on each trade. So that makes it unfeasable, for now. But perhaps someone knows of a solution of trading on DeFi with low costs? Someone here also mentioned that DeFi can be hacked: Of course both DeFi and CeFi platforms can be hacked. So there is no reason to believe that a centralized exchange cannot be hacked.

There are decentralized exchange where one can trade derivatives, but they are less popular, which means that the downside is they have lower liquidity as compared to centralized exchanges. The fee might also not be that friendly.
This is why most people keep using centralized exchanges for trading both spot and derivatives

It is very hard these days to see a very good centralized exchange that will not ask for KYC for us to use it to trade or do other things. I know some exchanges that have no KYC for some certain activities on the exchange but they don't have a good trading coin pairs and multiple supported coins. Binance is a good exchange and the best for now since there is no competition with it having numerous supported coins and reputable although many of us don't like KYC but we cant always get what we want all time but we just need to adjust to get what we want.

With decentralized exchanges, even the said low fee chains are likely going to hit a bit on you. You might feel the fee when you do actual trades and that's what's saving you from doing it in centralized exchanges like Binance. Thing here is where you're comfortable doing the trades, you can choose whatever you want and do an actual experiment on what's costing you less for the fees and what's saving you more. The rate could literally vary as that's what most of the exchanges, cexes and dexes differs in most cases.

I tend to agree with this and these are the disadvantage while using DEX compared to CEX.

• Liquidity
• Trading Fees

CEXs generally have higher liquidity due to centralized order books, allowing for tighter spreads and less slippage which means, your trading position will be fast and easily executed while on DEXs, often suffer from lower liquidity compared to CEXs, which can lead to wider bid-ask spreads and slippage during trading.

But people now choose the opportunity of gaining the market over security, if security, privacy, and control are key concerns, a DEX might be more appealing.  If higher liquidity, user-friendliness, and a wider range of trading features matter more to you, a CEX might be a better fit.

Looking at it while nothing wrong with DYDX per-say but as others have said there are pros and cons
The main pro is obviously that there is no KYC
I also think although I could be wrong but I don't think there is no  commissions at least up to a certain level. However dont know if I am charged more on another side.

The disadvantages is just more coins on binance also easier to fund account.
Another thing is - its easier to set up scripts and auto trade in binance. I have looked at ways of setting up pinescript to auto trade on DYDX or other dex but is complicated involving VPS. If anyone knows differently please let me know

All matter with your choice if you can accept the KYC requirement ask by binance then they are a fine choice since there's a lot to do there and volume is good. Also trading with futures is reliable that's why I always choose them when I want to trade.

But if you don't find anything good with them then choose decentralized exchange since it maybe can fullfil your needs on a exchange but the problem is volume if they get enough on each token we want to trade or if we can see the best token choices to trade their.

Have you checked out autotrader? It looks like they support dydx too[1]. Not sure if it requires a VPS or not, it looks like you can just run it on your computer (although a VPS is probably preferred if you want to run it 24/7). On the other hand, the last update is last year so you should expect some problems. I do believe the tradeoff is quite worth it if you are not comfortable with KYC at all.

[1] https://github.com/kieran-mackle/AutoTrader

Definitely, there will be some fee charges from both the Dex and CEX exchanges. Most of the time, the fees can't even be noticed as they are relatively small to the extent that you might not notice that there was a charge removed when you were executing your trade. The fee rate is dependent on which exchange you choose; some Dex even charge higher than CEX, and some CEX charge higher irrespective of what the charge is for.
 
On the aspect of KYC, it's an individual choice, and I tell people the risk involved is now left for you to decide if it's worth it or not. I personally don't talk people out of using centralized exchanges, but rather I advise users to consider the risk factor involved, and if there are possible means of avoiding it, one should grab them, but in a situation where there are none, especially in the aspect where you talk about having more trading pairs, one should go for it, and do not forget to look at the T&C of whichever CEX you choose to use, as most times those ignored declaimers are what is being used against someone, especially on the aspect of huge deposits, frozen accounts, loss of funds, etc.

at the end of the day, what you need to think about is the security of your funds. many are still going to CEX like binance because they trust this exchange with their funds. even if they are requiring kyc, it depends on your needs here. you can always use the DEX platform but what services are you really interested in? this is why every trader has their own preferences, because it depends on what they need for specific exchange.

Decentralized exchanges are the best as they give you privacy but you must pay for that privacy through high trading fee. Nothing is free. Centralized exchange is easy to use and has all kind of local currencies compare to Dex. If you are a day to day trader,it is better that you use Cex so that you can enjoy more profit from your trading activities and it is easy to buy and sell any coins of your choice. Dydx is a good exchange but I haven't used it before. I only use Binance and Kucoin often and I haven't have any problem with the platforms. It was when I started crypto newly that I used pancake swap and just once. If you are not a daily trader,you can use DEx.

There are other good perpetual exchanges that are non-KYC. FTX is a cryptocurrency derivatives exchange that offers a variety of trading options, including perpetual contracts. While FTX does have KYC requirements for certain features, it also provides options for non-KYC trading. FTX is a centralized exchange that offers non-KYC trading for certain jurisdictions.

You're joking, right?
You casually suggest FTX as a Non-KYC Centralized exchange.
Are you not aware of what FTX has done to its customers a few months ago.

Or maybe you don't know about FTX at all and you are new to it?

Hey man, FTX became the biggest scandal in 2023 and harmed many people.
If I were you, I wouldn't recommend FTX or anything else before doing my research.

It's better to be on Binance than having to go back to FTX which is full of bad people.

There are still many non-KYC exchanges to choose from besides FTX.
It's better to avoid the problematic ones and choose the guaranteed ones.

Network fees, it is an interactive trade to the blockchain. I have no idea how their great offer works (haven't used dydx yet), they just offer no fees after "depositing" to L2 and fast trade execution which both apply if funds are pooled in one wallet. I think they may still control your funds at some point (cmiiw).

DYDX is a decentralized trading platform that offers both spot and derivatives trading. It will allow users without the need for traditional know-your-customer procedures.  Also, you can try out the BitMex exchange for non-KYC trading.

Eg : BitMex

When we're talk about trading, I think it must be related with centralized exchange regardless you like it or not because decentralized exchange can't replace centralized exchange and you will not making good amount of money. As long as you not link most of your wealth and only show small amount of money which you use for trading, I think it's fine since you're just an average if the government see your wealth.

We do really have the choice on which one we would really be that using whether on Binance or would be sticking with Dex because you are really that minding about that privacy and total decentralization on which this is
something that you would really be mainly in concern. We do know that there are really that things in life that we would be needing to go with the flow if we are really that finding that kind of convenience on which we cant really deny the fact that these centralized platforms do offer something which other platforms doesnt have on which means that you would really be that making up that kind of consideration on trying out to touch up that space and on the time that you do see that it do give out that kind of convenience or benefits then this is where you would be making out some reconsiderations. We cant really be able to deny that Binance is really indeed a good platform in speaking about trading tools and other essentials with your trading plus having those features which you could make out direct conversion with your crypto to fiat via P2P which its not something that you will be able to do with those decentralized platforms. This is why even if we do hate to accept out about centralized platforms privacy opposition on the general idea of crypto space but we cant really be able to ignore
on whats its benefits into the people or trader.

Another option you could look into is opting for a no-mandatory KYC centralized exchange. Emphasis on "no-mandatory KYC" as this means there's a chance they could request it from you.

CEX list: https://bitcointalk.org/index.php?topic=5461920.0
I'd also recommend this thread if you wanna minimize the risk of using CEXs: https://bitcointalk.org/index.php?topic=5456199.0

Many centralized exchanges do not actually require KYC. For example, like MEXC, this one centralized exchange, users are not required to do KYC. We can still trade freely and attractively with large enough restrictions. Future and spot trading at MEXC is also quite busy. But in some countries, like in my country, the MEXC application on Android cannot be downloaded via PlayStore. But you have to manually download it directly from the MEXC site.

There are many other options. But I sometimes use MEXC and I never KYC on this one exchange.

For decentralized exchanges or DEXs I don't have much experience so I can't tell you anything.

He basically made it clear why Binance is great and others are not without realizing it. FTX is a great example what would happen if you go stray and find something else. It's a proof that we are talking about Binance as the best one and it has the highest volume for a reason, and that's going to be something to care about, otherwise what's the point of it, there is no reason to keep it going for a long time.

I just realize that we are going to end up with something that will be a lot worse, and that's why it's going to be different. Why I believe this? Because, it's going to be not a simple thing to handle and you are going to end up with a problem in the end if you go too far down south and pick something that's not as guaranteed as Binance is.

Dxdy is the most popular DEX for perpetual trading but it still doesn't beat the Perpetual trading of CEX like Binance that offers better trading fee and more assets choices than Dxdy that only offers few tokens due to the blockchain limitations since their transaction is on-chain.

I think nothing beats Dxdy now since most of its competitors is just small and doesn't have much liquidity compared to them. Dydx is your best exchange to rrade perps without  any issue to do KYC for now.

Dydx is a preferable option for those who do not want to reveal their identity during a transaction. However, if you are fine with the information they require, you should go with Cex. Cex is the finest in terms of features, but Dex is the best in terms of security. Both have advantages and downsides; it all depends on the user. If you only have a small account, I don't think you need to use DEX because there are big people trading with Binance who aren't ashamed to expose their name.

In my opinion, there is now no better alternative among decentralized exchanges than dXdY. The team is constantly improving the exchange and a few days ago the next, it seems the fourth, stage of testing of this DEX ended, which should bring even more trading tools that were previously inherent only on centralized exchanges.

For me it is a clear choice and I would rather deal with binance over the decentralized ones easily because that is what I believe to be the better option and should be the case for most people. This isn't a jab at the decentralized exchange idea, if there is a single one that is a lot better than binance one day then I would be glad to use it and that will not be a problem for me at all, I would very much rather use whatever is the best one out there.

However, right now there are none of them that are better than the one that we have, Binance is the best one out of them all, and this isn't even just decentralized ones, I can easily say that Binance is the best one out of all the centralized ones as well.

Trying out to compare the rate of exchange hacks where decentralized ones are most likely having those kind of problems which it isnt really that common when we are dealing with CEX.
This is why we are seeing that theres a lot of volume or liquidity that we are seeing on centralized exchanges because people are really that still trusting and really experiencing good in terms of features and
functionality which you cant really be able to get on decentralized exchanges.

Comparing the numbers of DEX to CEX then we are seeing the difference in numbers which does mean that trust is mostly on centralized exchanges but cant really deny that in terms of full anonymity
and having that control of your own coins then dex would be the sweet spot. It would really be that in accordance with your preference and risks taking factor.

I highly suggest that you must start considering looking at TVL (Total Value Locked) when selecting a good decentralized exchange and seems you need decentralized derivatives.
Try to look her: https://defillama.com/protocols/derivatives

It's a list of derivatives platforms and you can sort it by higher TVL. Right now, GMX and DyDx are on the top.
GMX is good if you want to use Arbitrum, you can save a lot of fees.

The biggest difference between the two is that one is user friendly and the other isn’t. If you a good with computers and crypto you can probably figure out defi. However there is a learning curve . It took me a few months. You need to get used to Metamask pretty much.

There is less liquidity but if you are a small trader then it shouldn’t be an issue. So for most people liquidity isn’t the issue. Also you need to keep your computer free of viruses because you need to keep your funds on Metamask pretty much.

please OP try to fix this error here... lets try to cross check what we are posting for some grammatical errors please it helps a lot. i believe the line on RED, you meant to say; You left binance due to KYC

Binance is a centralized exchange and there are many differences between centralized and decentralized as the two work in two ways.  But Binance is one of the best exchangers among centralized exchanges where huge volume trades daily.  And there are HUGE amounts of whale investors. If you care about KYC and want to avoid doing it then you should definitely use a Decentralized (DEX) where they won't demand KYC from you.  But if you use Binance and do kyc there I don't think there will be any problem because they are a trusted and very big exchange platform. So there is nothing to fear about it

Any CEx can suffer data breach. Being big in the game does not necessarily translate there will be no problems.

It's also known that CEx's shares user data to who knows what. In fact, one of the third parties binance used suffered a breach and people's data were leaked, see: https://cointelegraph.com/news/binance-kyc-breach-did-it-happen-and-if-so-whos-to-blame

In short, there's still a good amount of risk involved even with established exchanges.

People shouldn't really forget these things but eventually these binance issues were forgotten already since people would really be focusing most of the time on what is the current reputation and popularity does it have at this moment on which it would really be that a common for people to have that kind of reaction on which they do easily forget those breaches on which this exchange have
in the past. People doesnt really care as long it do really give out the services that it do currently gives and this is why they are really that still sticking on making use of this exchange. Its true that when it comes to data breaches then these centralized exchangers are really that prone to these things but it seems that the community doesnt really care at all. In between choices of CEX and DEX then it would be entirely be depending on your needs but cant really deny that cex offerings is more better because it do really engage out with direct with fiat or easily could make out some p2p transactions on local fiat on which i do really prefer the most.

I agree that unless KYC is an issue, Binance is the better one and it has everything you could ask for. People talk about it like it's just an exchange but it has a lot more than just exchange there, you could do so much in Binance that you can't make anywhere else and that is why decentralized is not that great.

Plus, most decentralized exchanges uses wrapped versions and they have not controlled liquidity as well, which means that people built bots that could take advantage of the difference and just ruin the parity as well. That should be important to notice, I have seen whole projects crash because of the parity and they just arbitraged it down to zero. Binance would not allow that to happen and just close the pair.

Yeah, other options aside from CEXs are still pretty limited in terms of what they can offer hence people resort to CEx.

Perhaps, people simply don't care, have gold fish memory, etc. or they may have weighed the pros and cons and picked a lesser evil -- IDK there are different kinds of traders. In any case, it is always better to be informed on what has happened and what may happen in order to make a better decision.

We have some perpetual exchanges that are decentralized and you can use them without KYC but they have a disadvantage and that's they're not popular like the centralized exchange that can be used for perpetual trading. They also have very low volume and don't have the reputation like the centralized exchange to encourage traders to use them. Traders prefer to use the centralized exchange because they're very comfortable to use and have good reputation.

Decentralized exchange both spot, future, derivative etc still have alot to prove as individual traders don't trust them fully. Alot of them are still underdeveloped and launched prematurely that's why they have alots of flaws but they'll keep getting better as they keeps developing.

So many people have seen a centralized exchange as one that we don't have to go close at all which is not what we need to understand about it. Because meaning or few of the centralized exchange and liable to crash do not mean that we can't use it to trade. The problem is that we don't have access to the private key that is why it can be risky for us to keep all our fundw there for safety purposes. Trading is complicated and we need to trybas much to keep becoming a winner.

There are plenty perp dexes on ethereum and it's side chains, however they have their own share of risks — smart contract risks, hacks, custody risks. Here is list of them [1]. You won't find number of coins as Binance here tho.

---

[1] No-kyc Derivatives Exchanges (https://bitcointalk.org/index.php?topic=5444552.msg61897898#msg61897898)

Binance is one of the most popular crypto exchange, considering various aspects you might want to use any other decentralized exchange but many people like you will not think so. Why is KYC verified a hassle for you? Account KYC needs to be verified in Binance Exchange only by thinking about the security of the account. If you do any kind of fraud from your account then I think there is no problem even if your account is KYC verified. Majority of users prefer the Binance exchange because of the security of their account and practical convenience.

KYC is a barrier that makes many people hesitate and stay away from CEXs, but honestly, you won't find a decentralized exchange that can offer a trading experience as good as CEXs. DEXs has a lot of limitations and that's why many traders don't choose it and accept KYC to use centralized exchange. Almost no option is perfect for traders, it can be said that using CEX is almost a must if you still want to continue as a trader.

If you are looking for an alternative exchange to do perpetual trading, one that I can recommend to you that has no KYC is Fairdesk https://www.fairdesk.com/announce/5de32748f2a54605941c54dc9de102ed This platform so far is a good place to practice some trading here in the cryptocurrency, and the other one is Coinex https://support.coinex.com/hc/en-us/articles/4411645149081-CoinEx-Futures-Perpetual-Contract-Guide This is the same goes with Fairdesk no KYC as well.

Though using Coinex, despite no KYC, there is a limitation on withdrawal amounts. As far as I know, once you reach that limitation, you are obliged to submit KYC, but of course you can still discover it for yourself.

It's very difficult to have an exchange that has liquidity and will not want you to do KYC. You know Perpetual trading is very big and has billions of dollars flowing to them, the authority will want to know where people and how they spend their money which is very wrong, they want to know how you spend your money and know about the history of your money. You wouldn't have a Perpetual exchange that is KYC free, it's possible that you may even have but they don't have reputation and you will likely get scam if you are not careful about them, be guided and be vigilant.

Perhaps you should use Gmex, you can switch between Avalanche and Arbitrum to have fast speed of execution of transaction and  trades, you don't need to undergo any KYC, the good side of it is that you will not registered, just launch the App and connect your wallet address to any of your preferred chain and start trading. But you will be limited to the coins you will trade. You favorite coin may not appear on the exchange.

Not just one but it is the most popular among all crypto exchanges because it is currently at the top or at the first spot. I think the main reason on why some won't use Binance is because of the KYC. KYC verification can be a hassle for him maybe because he is a busy person and hardly has a time to complete it? Because KYC is also not simple or an easy thing to do.

And what if he has a low-quality device? The cam quality and internet signal could prevent his documents to be uploaded successfully. We can also wait for days for some instances only for our KYC to get verified. A fraudster will never do a KYC because they will only be caught out easily if they do. Binance might be secured but it still attracts scammers. I also don't find it convenient because of the KYC but maybe it is, once we already passed it?

Why dont you try out a decentralized exchange yourself and see if handling the problems there is bigger headache than getting through the KYC and using Binance again? If you ask here, you will never get a proper answer because the community is divided between the idea of doing a KYC and not and both have their own arguments. The point is that such arguments will not help you decide but see what actually works for you.

As long as you are not taking part in money laundering or have a criminal record there should be no problem in undergoing KYC on a centralized exchange that your country people use regularly.

It is the most popular exchange and the one with the largest number of transactions and market cap. Although I fully support the use of decentralized exchanges for those who want to preserve their anonymity, I find them quite a hassle compared to centralized exchanges. Apart from the KYC process, which on Binance is pretty quick, I don't find any significant disadvantages. They're convenient, have low fees, and offer great services overall, such as staking or farming new coins. Don't get me wrong; I fully support the decentralization movement and have used them multiple times in the past, but so far, I don't see any significant advantages over centralized ones.

The decentralised exchange are good for the traders,because the exchange will have more liquidity.So the coin you are buying in the decentralised exchanges can be exchanged at any time.The Binance had kyc verification mandatory,So it eliminate the scammers some how.If you made the P2P trading,the seller try to scam the usdt after the fiat transfer.You can start a dispute on a trade.So the support will help you.Like wise the trusted exchange can help us to save from scam,So mandatory of kyc is the better option in exchanges.

If you are looking for CEX
MEXC Global has the most generous non-KYC withdrawal limits


For DEXES
GMX
Apex Pro
QuickPerps
dYdX

OKX
PancakeSwap
Huobi
Kucoin (
SushiSwap
ApeSwap
dYdX
Kine
Curve
bisq

You can use decentralized exchanges but you will find low liquidity and high fees on most of the Dexes.
for perpetual or leverage trading centralized exchanges are best choice, i never used Dexes but i can provide some best Cexes (Bitget, OKX) i personally use for leverage trading they are not totally non KYC exchange.
but you need to consider some limitations.

Provably that will be the case on dex but I don't have problem with it as long as it can deliver good trades to some of our alts which not been listed yet on big exchange. 

But I prefer binance over those dex since they have great volumes and good choices of alts to trades. Some may not lile their KYC requirements but I don't mind being ask especially they are reputable exchange since I just accept that this submission will became normal requirements in future and we doesn't have anything to worry since binance is a trusted exchange.

Would really be just common sense that we would really be sticking into something which is reputable and had already been known on this market on which it is really just that normal that we would really be sticking because we had already built up our trust and interest into it despite of being that centralized then we could easily be able to accept it out and willing to perform those KYC if needed on for you to be able to utilize its total functionality or utility and as a trader then it would be crucial. Its true that in DEX then this is where we do usually find those coins or tokens that hadnt been listed out on those top exchangers or known ones on which if you do own one of those then you wont really be having option but to touch up dex and make trades with those coins/tokens but as much as possible then you would really be liking for these things to be listed on various exchangers on which you could really be able to trade it up with those stable coins or with Bitcoin itself.
In choosing in between two things then it would really be according into your usage and preference because there are really situations which we do really end up on using up those decentralized places but most of the time we would be sticking into centralized ones.

KYC in binance is actually quite easy and fast, if you have scanned valid ID, you can just upload it and enter some details and you're good to go.
Nowadays, most crypto-exchanges are already asking for KYC from their clients, except DEXs.
If you ever decide to submit your KYC, better do it in a reputable platform like binance.
This is a must now for most CEXs, so if you happen to use their services, you can't avoid such requirement.
Most top alts can be traded in CEXs not in DEXs, so it depends on your trading needs here what type of exchange you need.