A honest question about non kyc exchange

[honglu69]

Those DEX who ask for KYC are really CEX or fake decentralized exchange, they are just fake DEX pretending to be DEX.

true decentralized exchanges like Thorchain, uniswap, Komodo Wallet/AatomicDEX are just open sourced software. They are just software (source code open) that you download and run. The private keys are controled by user.  DEX can not require KYC because they are just software.

Also in my opinion, DEX has to be on open sourced software.  A hidden software behind "claimed DEX" probably are fake DEX because who knows what or who control or leak the private keys.

ForkDelta was one of the DEX that gave you a private key back then but shut down long ago. Sure thing as its how it works you can import the wallet when you have a private key.

I'm not sure if there is something like this still.  The majority of the exchanges today already ask us to comply and send our KYC documents. There is no escape unless you go to the old exchanges that still are pretty much defiant, I still see one, and very much active today..

DEXes still don't ask for kyc, do they? I haven't come across any that require KYC at least. CEXes have got no way except to comply with regulations to continue functioning.

Regarding bold part, which?

Hi, you are correct!

Most DEXes don't require KYC because they operate without a central authority and allow peer-to-peer trading directly from your wallet.

But for CEXes, it is do need to comply with regulations and KYC.

[Trêvoid]

Actually genuine DEXs are typically open-source software platforms that anyone can interact with directly without KYC. Examples like Uniswap, Thorchain, and AtomicDEX (by Komodo) fits in this.

[Darker45]

Non-KYC doesn't automatically mean non-custodial. Neither does it automatically mean decentralized. In which case, it is possible for exchanges to be non-KYC yet custodial and centralized. Such exchanges don't provide you with private keys and when they shut down, you can't get your funds out.

Tradeogre, for example, or Crypton Exchange have strict non-KYC policies and yet they are custodial. So while your privacy is protected, your funds aren't.

[rat03gopoh]

Those DEX who ask for KYC are really CEX or fake decentralized exchange, they are just fake DEX pretending to be DEX.

If CEX doesn't ask for KYC, does it mean it is a fake CEX?
DEX has nothing to do with KYC, because it only relates to the risks to the exchange organizer and third parties.

The essence of DEX is that no user assets are collected in one place or they don't store user funds, so DEX won't provide privkeys because there is nothing for user to withdraw. KYC is just a complementary policy of all types of exchanges including DEX. We know that the top exchanges today once operated without asking users to pass KYC. On the contrary, DEX can implement KYC policies at any time for various reasons such as sudden government intervention by simply changing some interface structures.