Bitcoin Forum

Hi,

The exchanges I saw till now demands a copy of my ID card to let my buy or sell anything. Is there anyone that dont ask for it? Im not happy with let my ID through internet, and I dont know how can they do with it. Is it possible to do antoher way?

Thanks

Cryptopia, Kucoin and Cobinhood are not asking for KYC or AML identifications at the moment, so it means that you do not need to provide your id, passport or just a bill under your name. I do not trust those who are asking for them.

You can also add binance to the list that do not require verification if you are a small trader or do not want to withdraw the big numbers form the wallet. Else you will require the verification process to be completed.

If its listed form couple of years and has good review then actually you can trust those sites as they are still better and safer than any other exchanges.

Now a days most of the exchages asking for identification this is due to the government rules maybe, because many government are strict with the cryotocurrency or it will encourage illegal activities in theor countries.So I think it is necessary to provide the ID so crimes can be cut down.
But some exchanges like Binance maybe not asking ID for registration as for now but they also will implement it soon.So you have to be ready with your ID if you want to trade on best exchanges.

Im aware of it, but think about it. Do you know who are behind every exchange? Do you know how they store youre ID and sure that they dont sell it to someone or it can be stoled from them? They wouldn´t be the first one, and then you´re ID can be involved in the crime you want to cut down. Are you sure that youre ID is as safe as can be in bank?

A risk would be, that if you find an exchange now, which does not demand an ID .. the question will be, what about the moment you want to cash out?
Things can change very fast. The exchange which is open for everyone now, might not be in the near future, once authorities have put pressure on it.

You are not sharing your ID to the internet, only to the database of the exchange. As long as the exchange is secure your ID will be safe.

Exchanges are not going to share your personal data to 3rd parties unless you do something against the law (money laundering, for example), in this case they are required to do so. If they share your ID without your consent they could face serious consequences.

I'd recommend you to just give them your ID, it'll be safer for both you and the exchange.

But what about if you only want to change some fiat to bitcoins and put to youre own wallet? This cant take long time. And giving him youre ID didnt asure you that you can cash out. In fact is a security factor for exchange from you, no to you from the exchange. They can go away with your cash and youre ID an then...whar?

How you know they didnt share? How can you prove they did it, if they did it? You cant. Is the perfect crime, if anyone buys youre id from them, do you think he tolds from where it was obtained?

I repeat, is safer for the exchange to prevent crimes, for you is the same. They can fool you with or without id

You have plenty of exchanges that do not ask for ID verification, and some of the most "trusted" ones, if you can actually really trust an exchange, have already been pointed out by some users. The problem in my opinion, is that as regulation of crypto takes place, I'm pretty sure all exchanges running with a license will have to comply with KYC regulations. That's the norm in financial services to somewhat help prevent, or at least make money laundry more difficult. So these exchanges will probably ask for ID in the future or close doors in my opinion, so you should still be careful with them.

Its possible but only upto a certain extent. Like Most of the exchanges have 1 BTC withdrawal limit for unverified accounts. While for some exchanges like Binance the limit is 2 BTC. Except that you can prefer decentralized exchange if you aim to trade higher amounts but decentralized exchanges have their own demerits ranging from low volume, poor interface and lack of customer support.

Exchange Bitfinex, binance, hitbtc does not require authenticate for trade and input and output of crypto-currencies equivalent to 2 bitcoin

Its for you own safety and I doubt that the exchanges will share its database to another party. Well there's are exchanges that don't require you to submit your ID, like Binance for example.

I don't think that they will share you ID from third party because it won't bring any benefits on their end.


I don't think that I can get to withdraw even 1 bitcoin so Binance is a safe play for me to trade, although lately they seems to be laggy. As for the decentralized exchange, yes it has advantage and disadvantage specially the lack of customer support.

Yes you can find may exchanger like as hitbtc.mecratox,coinexchanger or kucoin  .But i think bittrex is best but they want to your identity .Identity helps to you recover your asset so choise you self

Do you think that selling iDs cant bring benefits?

i believe that in the near future we will have to verify our identities on all exchange in order to trade

bro, wtf? are you serious or just trolling?

Exchanges are not illegal companies that sell ID's to malicious groups, (most of the) exchanges are legitimate companies that work under the jurisdiction/regulations of a country, therefore, they have legal obligations and these companies are not going to risk their billion dollar business by selling stupid IDs. You need to understand that up to one point they ask for your ID for your own safety and the companie's, don't you understand what the AML and KYC policies are?

First of all, how can protect me that an exchange have my ID? How can it prevents lose my money?

And in second term, if a exchange sells ID (im not telling that ALL does, its enough with probability of one of them can do) how you figure you can prove it? To "going to risk their billion dollar business" you must prove that they do it. The id dont tell "im selled from XXX exchange". In darknet you can buy id, but you cant know where they come from.

I repeat: Im NOT telling that ALL exchanges does it, but there is not warranty that ONE of them do it, and you arent capable to know or prove it.

And the laws are not equal over the world. You are under the same legal requirements in Europe, than in USA, Asia or Nigeria?

I do not like the idea of being always giving out my ID for that kind of verifications, i mean, why do they need our private information in order to let us exchange our cryptos?

I am sorry, but for me, it is not fair at all. that is why i am always using Binance, Huobi or just Kucoin.

Binance is the best one of them, but the other two are good and have a nice volume.

None if them is going to ask you for ID's.

Over the other exchanges Kucoin has the advantage that it does not impose you limits if you don't identify yourself. Very easty going.

Cryptopia has a daily withdraw limit of 5000 $ a day without ID verification.
Livecoin doesn't specify an ID verification, so I wouldn't risk to trade higher amounts without ID verification.
Bitfinex doesn't demand when only cryptocurrencies are traded. (Non-US)
Shapeshift and Changelly  don't demand ID verifications, but have exchanging limits.
Yobit Verification in case of complaints needed. Else it is not specified.

Kucoin is by far the best among those who ask for no verification

There many cryptocurrency exchange not ask for required verification ID like Kucoin, Gate.io, Coinexchange, Cryptopia, decentralized exchange Etherdelta and Edex.market. Now  many new exchange that not ask for verification ID come to the crypto market and this is good sign so that cryptocurrency community will bigger by fast and the demand also will increasing alot.

Government try to identify the users of cryptocurrency, probably it is needed to keep that exchanges legal. I trade have an account on some exchanges which not require my identity if I only want to trade bitcoin and altcoin pair but if I want to convert bitcoin to fiat then identity is always needed .

There are still decent exchanges that doesn't eask for IDs when trading. Binance perhaps don't ask for your ID unless you withdraw a bigger amount in which you need to upgrade to withdraw bigger. This is the case for Bittrex before but they already change their rule. Kucoin also don't ask for IDs as well ass Cryptopia. Poloniex also don't ask for verification documents unless you withdraw more than $2,000 daily. Etherdelta as well which is a decentralized exchange doesn't need verifications. You have various choices when it comes to exchanges.

Perfect Anonymity is a little difficult these days,

Getting ahold of currency anonymously is cheaper than selling your
Crypto to fiat anonymously. And moving your crypto out of exchanges
Is already expensive. If you wanted to move out over certain local law limits
(Which is illegal, probably) anonymously, that would also be the most
Difficult and most suspect.

You might be able to hide what exactly it was the you did, but guaranteed
Someone will know you did something at x time and y place. And moving
Any large sum of Money through any bank will be too noticeable, whatever
Your reasons are.

If you want to trade with privacy, it is most likely you will have to find someone
You can trust on a marketplace where people find a way to trade in person
that suits both parties. But that will cost you extra for the risk said person
Is taking in violating the law as well, which may come in the form of losing
some of your profits.

Of course, you could also try anonymous currencies, which are designed to
Operate exchanging less information or encrypting said transaction info.
Deeponion.org built theirs on the tor network, but there are also many
Other altcoins that built anonymity in as a layer etc.

You can as long as it don't exceed withdrawing 2 btc. I know that only bittrex will force users to submit verifications.

Thoughts on kucoin?

Many new exchange come to the cryptocurrency market now that does not required verification ID like Kucoin and Gate.io.  Also decentralized exchange like Etherdelta and Adex.market. So everyone can trade in many kind of cryptocurrency without any verification ID.

I also encountered that exchanging site they ask me for me to give my identity by using valid ID, but i think this is for good and reliable services from their costumers to be safe and far away from scammers. But if you really like not giving valid ID's exchanging site there are hitBTC and Binance you may try these sites and they are also having a low transaction fees like deposit your money on your account and withdrawal.

As you said some exchanges asking ID verification for trade,Recently I am also asked for an ID when I try to sell a little bit of bitcoin in localbitcoins.com.Maybe it is necessary to provide an id to avoid the crminals who can use crypto currencies for illegal activities easily.But I don't think providing an ID over internet is not secured maybe it will be kept securd by the exchanges.But for me ID verification is normal if you are an illegal and it is ok to complete id verification while trading.

That's hard because there's no identification because maybe it's a scam, it's easier to find your id for sure. thanks.

Cryptopia and Coinexchange are here with you. My old Cryptopia  account does not have limit  and Coinexchange has a withdrawal limit of 10btc.

Decentralized exchange is the answer but I don't trust them.

I understand your fears of not wanting to give your ID out over the internet. That's is okay. But look at it from this point of view. Exchanges are like banks. Their responsibility is to protect you and your money from others and yourself.

I'll explain.

I recently lost access to my Google Authenticator app. I lost all my codes. This can happen to anyone. I learnt my lesson the hard way. But one way I was able to get access to my funds on some of these exchanges is to provide proof of ownership of my account.

I know that there are many ways to do this without necessarily demanding for your ID but I trust any exchange that ask for my ID more than those who don't.

Why do not you try etherdelta, maybe this is one exchanger that does not ask for KYC and trading there is also very easy

For sure our informations are safe and secured and won't disclose anything to others ( I hope so) and this will be just for our security and to know their customers. Honestly, when this verification implemented I find it more burden to traders but when I see the positive side of the story I just follow it and keep using those exchanges. However, we have a lot of exchanges now and you can try them all until you find the one that suits your taste.

Binance is not asking for any KYC or ID at the moment, so i think that this one will be fair enough for you. I am using it at the moment, and it is even better than bittrex, and poloniex at the moment.
They only ask you for KYC if you withdraw more than 2 btc a day

I use Liqui, Mercatox, and coinexchange.io they are new exchanges and is on process and development but it can be trusted, the site's theme is simple and has a beginner friendly design. The volume is not that high but it continues to grow as time past by. There is a lot other exchanges that does not require identity, you just need to explore more.

sometimes that depends on your trading capacity. Binance for instance wobt worry you if you dont not trade higher numbers but for very high amounts, you will need an ID verification and same applies to many of the exchangers

very many exchangers that do not need to use verif identity, some do need it when you will make large transactions, but you do not have to worry all your data will be safely stored in their database

I also encountered that exchanging site asking me a valid ID for identification but i don't continued the processing request of registration because i don't want to exposed my identity in internet. Maybe they doing this for safety and security purposes of exchanging site and for those countries that banning bitcoin so they easily to traced of their members. And now i am in Binance and hitBTC easy to register and easy to used especially in newbie, well, i'm not promoting their exchanging site but i was trying to recommend you an easiest way of registering account.
So, happy trading mate. ;D

There are lots of exchanges that are giving access to such a form of identification free trading. Governments too has been making regulations upon the KYC norms as well. This too will ruin the growth of bitcoin, because lot of users of cryptocurrency prefer anonymity. Now lot of difficulty has risen for Cryptocurrency, which needs to be sought at the earliest.

I think trading sites requiring some identification from traders is a way to make the trades more secure. As we know, there are many bad people that roam around the internet. Therefore, it is wise to be more preventive when it comes to trading that way we can avoid those scammers and people who chooses to do cyber crimes.

Binance allows you to trade without providing your ID. You need identification verification for increase your withdraw limits, the minimum are already 2 BTC per day which is HUGE so don't expect the need to provide your identity for a long time if you trade with them.

I agree with you, I also trade a few times there and yes, there did not ask us to propose verification ID and I also feel comfortable trading there.

I am also wonder why some of the exchangers really needs ID's and the proof of residency where it is digital money where we cant understand why they keep on getting our ID's but for what right? So, instead of verifying something I do trade also in some exchanges that are not going to give ID's because it is not only curiousness but it's also hassle since you need to verify it with selfies and wait for a bout 3-4 days or sometimes waiting is just a week. Well, U dont know there reason why they keep on collecting ID proofs.

Dear it is a very good point. I have been trading on www.bitmex.com which does not ask for any id. It takes 2 minutes to create id and start trading. There are some other exchanges also but I prefer Bitmex

It's not that the exchanges themselves are behind all this. It's the government forcing exchanges to abide by the KYC and AML policies, and some other things, and in most cases, depending on the verification levels, you have to verify yourself with ID and stuff to unlock all functionalities of an exchange. The lower tier verification levels just need textual information (i.e name, address, phone number, etc). But of course, lower tier verification directly means less functionalities and lower withdrawal limits.

Most exchanges that at this point still aren't forcing people to verify themselves, depending on where they are based, are not operating legally, and especially when they are accepting fiat deposits and withdrawals. If they also aren't licensed to function as money transmitter, they are yet again not operating legally, where this is even a more severe offence. It's like a ticking time bomb where it's just a matter of time before the FBI or whatever agency raids that entire exchange.

Try the decentralized exchanges of the EtherDelta type, though they are with a terrible interface and only the tokens of ERC20 are traded on them, but anonymous is guaranteed.

On Hitbtc, you can trade unlimited coins without giving any single information. They don't ask for ID card. They don't put limits. The ID is needed only for fiat currency deposit and withdrawals there.

In fact, before sending the cryptocurrency on a certain stock exchange, it is better to go through the process of identifying your personality, because at some point, your trading account can be frozen. We are now seeing as the exchange gradually come to the fact that you go through an identification and then you akrout trading account