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Author Topic: Any exchanges with no ID requirement if no fiat involved?  (Read 584 times)
jnano
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December 02, 2017, 11:28:37 PM
 #1

Are there any exchanges that don't require photo ID, or other personal info, if no fiat currency is involved?
Only crypto in and out.

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December 02, 2017, 11:41:12 PM
 #2

Are there any exchanges that don't require photo ID, or other personal info, if no fiat currency is involved?
Only crypto in and out.

they are becoming increasingly scarce, but there are still several available. binance and hitBTC are the no-KYC altcoin exchanges (with USDT markets) that i would suggest. just keep in mind that if you decide to hold USDT that these are not real fiat liabilities of the exchange you are on, but rather bitfinex/tether.to liabilities.

bitfinex and WEX.nz both allow trading and cryptocurrency withdrawal without KYC. i'm a bit paranoid to leave too much money on either exchange because of the FUD surrounding them. WEX is the reincarnation of BTC-e, who got indicted and shut down earlier this year. bitfinex owns tether and both got blacklisted by the banking system --- one has to wonder why.

if you are an experienced trader, i would suggest bitmex. they have no KYC and they only deal with bitcoin collateral via swap and futures contracts. fyi, bitmex, bitfinex and WEX all prohibit US customers (although VPNs seem to be working fine)...

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December 03, 2017, 12:00:39 AM
 #3

I don't mean for serious value dealings, on the contrary. Just a way to dabble a little bit.
Do any them allow custom transaction fees when sending out? Something that would make sense for very small transfers.

BTW, is Tether just used to "stay out" for a while without having to have fiat regulations?
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December 03, 2017, 12:57:41 AM
 #4

As previously mentioned Binance, Bitfinex and HitBTC are working fine. I am also registered at Liqui without kyc.

Unfortunately none of the above mentioned exchanges allow costum transaction fees when withdrawing.

As you said: Tether is mostly used to hedge against corrections or dips and events such as forks.

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December 03, 2017, 06:19:09 PM
 #5

On the topic of tx fees...

Any KYC exchanges that allow custom fees?

Is GDAX unique in having, as far as I know, no network/transaction fees?

Are there any quick crypto converters that allow custom tx fees? Changelly and Shapeshift don't.
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December 03, 2017, 06:46:16 PM
 #6

...WEX is the reincarnation of BTC-e, who got indicted and shut down earlier this year. bitfinex owns tether and both got blacklisted by the banking system --- one has to wonder why.
...

Interestingly, the two exchanges that you mention are actually deeper entwined than you think.

https://twitter.com/btcecom/status/853142083527245824?lang=de

Take a look at this tweet from April. This was only a few days before US law enforcement shut down BTC-E.
It is entirely possible that the law enforcement agencies of the US are already investigating Tether. Especially,
because they can always maintain that Tether can be used for money laundering.

I would be very cautios with the reincarnation WEX as well. It is possible that the US are using it as a kind
of "honeypot" to catch money launderers or hackers that sell their ransomware proceeds. After all
BTC-E used to be the main destination for these kind of clients.




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December 03, 2017, 07:25:04 PM
 #7

On the topic of tx fees...

Any KYC exchanges that allow custom fees?

Are there any quick crypto converters that allow custom tx fees? Changelly and Shapeshift don't.

From what I know there is no exchange that allows custom fees. If there is one, A lot people would have entered a very low transaction fee and after that they will complain why their transaction is stucked. But yes the average minimum fee in most exchanges which is .001BTC is really high imo. Currently, Poloniex charges the cheapest withdrawal fee which is 10K sats.

Is GDAX unique in having, as far as I know, no network/transaction fees?

If the transfer is between coinbase and GDAX account yes its free.

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December 03, 2017, 07:31:27 PM
 #8

I don't see why exchanges couldn't offer custom tx fees. Minimally, it could be a selection from predefined slow/normal/fast, each updated dynamically based on network conditions. The UI can include an alert message about the expected delay, and could even have a big red "I AGREE" button to press. Smiley

Regading GDAX, as I read but can't try firsthand, sends to the network from there are free? I'm not talking about between Coinbase and GDAX.

On Coinbase the fees are currently about 35K, not 100K.


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December 03, 2017, 07:50:45 PM
 #9

In most exchanges you need to prive your ID in order to fill out the KYC & AML requirements, and there is nothing wrong with that.

I dont have any problems about filling those requirements, but yes, it is pretty annoying to have to provide your id and selfie in order to buy $100 worth of bitcoin or any other altcoin.

That is why i prefer using Cryptopia in order to make tiny exchanges, they do not ask you for any of those crappy requeriments.

In fact, probably, this and EtherDelta are the only ones who have never asked for identification.

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December 03, 2017, 08:17:30 PM
 #10

Take a look at this tweet from April. This was only a few days before US law enforcement shut down BTC-E.
It is entirely possible that the law enforcement agencies of the US are already investigating Tether. Especially,
because they can always maintain that Tether can be used for money laundering.

I'm doubtful of a connection based just on this. The indictment was actually filed against BTC-e in January. They just unsealed it in July when they arrested Vinnik. So the timing of adding Tether capabilities doesn't seem important. I agree, law enforcement agencies are likely investigating Tether for a multitude of reasons.

I would be very cautios with the reincarnation WEX as well. It is possible that the US are using it as a kind
of "honeypot" to catch money launderers or hackers that sell their ransomware proceeds. After all
BTC-E used to be the main destination for these kind of clients.

When the relaunch was first discussed a few months ago, I had similar thoughts. However, I absolutely don't think that the US government would have refunded 55-60% of funds back to the users. I think that WEX = BTC-e and that Vinnik was just a patsy.

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December 03, 2017, 08:38:11 PM
 #11

On the topic of tx fees...

Any KYC exchanges that allow custom fees?

no, and i don't think that exchanges will ever allow custom fees. that wouldn't make any sense because required fee rate (for network confirmation) is tied to the transaction size. exchanges need to batch customer transactions to save on fees, so you can't just think of it like "one input, two outputs." exchanges have many more inputs on average than typical bitcoin users because of the magnitude of deposits received.

custom fees would end with lots of stuck transactions, and exchanges would have to create a new infrastructure for RBF or CPFP transactions instead of simply guaranteeing that withdrawals arrive for customers.

Is GDAX unique in having, as far as I know, no network/transaction fees?

Are there any quick crypto converters that allow custom tx fees? Changelly and Shapeshift don't.

GDAX/coinbase does have transaction fees. you're probably thinking about transfers between coinbase customers. those are free because there is no blockchain transaction required. third party services generally won't offer custom fees for the reason i mentioned above--too much complexity around transaction size and likelihood of lots of stuck transactions.

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December 03, 2017, 08:49:52 PM
 #12

I don't see why exchanges couldn't offer custom tx fees.

Because people are cheap and many will choose the lowest fee, especially when the network is the busiest. And that could mean transactions that will not get confirmed, have to be checked by hand and re-sent, scam accusations... too much hassle.

On the initial question: Poloniex allows 2000$ daily withdrawal if you give your name without ID (iirc). The fees are low, the volumes high. I've had no big issues with them (some others claim they had, so it's up to you..)

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jnano
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December 03, 2017, 08:53:27 PM
 #13

You mean $2000 fiat? What about crypto-only?

Regarding tx fees (I should've started a separate topic... Smiley): Instead of full custom it could be a "low fees" preset that you can choose. The exact meaning of which could be defined by them. Even 20-30 sat per byte would be a great improvement. That wouldn't result in stuck transactions.

Regarding GDAX: I didn't mean transfers between that and Coinbase. I meant to a wallet outside of GDAX/Coinbase.
That's what I read here. If someone has an account there, can you try to see if it really works?



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December 03, 2017, 09:14:22 PM
 #14

Are there any exchanges that don't require photo ID, or other personal info, if no fiat currency is involved?
Only crypto in and out.



shapeshift.io

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December 03, 2017, 10:21:35 PM
 #15

There are, but they are very small in numbers. They are near to extinction since governments are really pushing them to implement AML/KYC. They need to comply or die. Bitsquare is one of the decentralized cryptocurrency exchange. I just don't know if they still existing. Theres not much choices for people who wants decentralized exchange. Most of exchanges are now in compliance with the standards and regulations of the governments. Anyway, you can still trade to other exchanges with no ID required. Try Poloniex and Binance. But i prefer Binance since you can withdraw funds there with up to 2 btc. Poloniex is good also but you can only withdraw $2000 per day. That's pretty low.

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December 04, 2017, 01:19:56 AM
 #16

Are there any exchanges that don't require photo ID, or other personal info, if no fiat currency is involved?
Only crypto in and out.

BitMEX doesn't deal with fiat currency at all, just BTC, so there is no KYC. Deposit BTC --> trade futures or swap contracts (including altcoins) --> withdraw BTC. I'm adamantly against giving my documents to exchanges. After the BTC-e takedown, I am not comfortable dealing with unlicensed exchanges like Bitfinex.
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December 04, 2017, 03:46:54 AM
 #17

Im confused.  So you could buy altcoins with btc with no id verification on binance and hitbtc?  Can others confirm here?
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December 04, 2017, 04:34:57 AM
 #18

If you are willing to have the wallets of whichever cryptocurrencies you want to trade on your own computer, you can't go wrong with Shapeshift or Changelly. I have used both of these without a problem. The only issue with them is that not only do they not act as a wallet at all, but they also may have significant fees depending on which cryptocurrency you are trying to exchange since all of the trades have to be done in their corresponding blockchains. This means that if you are having to do trades often, it may not be the way to go.

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December 04, 2017, 07:56:41 AM
 #19

Im confused.  So you could buy altcoins with btc with no id verification on binance and hitbtc?  Can others confirm here?

On Binance, unverified users can trade bitcoins/altcoins and are allowed to withdraw 2 BTC (or equivalent) per day. If you need higher limits, ID/passport is required. Not sure about HitBTC but I've definitely heard that people trade there with no verification.

If you are willing to have the wallets of whichever cryptocurrencies you want to trade on your own computer, you can't go wrong with Shapeshift or Changelly. I have used both of these without a problem.

I'm a big fan of this method of trading (wallet > Shapeshift/Changelly > wallet). In a pinch for short-term trading, multi-coin wallets like Exodus and Jaxx are an option, although they aren't ideal for security. MEW can also be used for all the ERC-20 tokens.

The only issue with them is that not only do they not act as a wallet at all, but they also may have significant fees depending on which cryptocurrency you are trying to exchange since all of the trades have to be done in their corresponding blockchains.

The fees they charge generally reflect the commission + spread on exchanges. The only asset with somewhat high network fees is BTC (not great for small transactions). To Erik Voorhees' credit, Shapeshift did switch to Segwit recently, which has somewhat mitigated that.
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December 04, 2017, 08:30:32 AM
 #20

I do know a few of them such as Yobit, Hitbtc, Cryptopia, Livecoin, Coinsmarket etc... Most of these exchanges doesn't require an ID verification to exchange cryptos. I had been using Yobit the most in these and it has been really great. Although Yobit is a shit site since it lists scam coins which are worth nothing, it doesn't require any ID verification and doesn't have any limits or restrictions. Transfer crypto to it, withdraw it etc.. and the charges are also lesser than other exchanges.
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