KYC

[Pipswizard]

As someone still learning, one thing that confuses me is the topic of KYC and non KYC platforms.

A lot of experienced users here recommend avoiding KYC exchanges for privacy reasons, and I understand why you don't want your identity and transaction history permanently linked to a centralized database that can be hacked, sold, or handed to governments.

But my question is specifically for beginners: is a non KYC platform actually safe to start with?

Maybe which platform is more safe...

[TryNinja]

But my question is specifically for beginners: is a non KYC platform actually safe to start with?

Why not?

We have many known, safe, no-KYC platforms. For swapping we have a bunch here on the forum with their own escrowed funds, signature campaign, and community promotions.

You send coin A and receive coin B. No need to send documents or take selfies. Very easy for beginners.

[Karl_3000]

The non KYC exchanges are very safe but you will need to use the trusted ones.

What about KYC sites that can belong to scammers? Novice will register, provide identification documents which is risky. This may seem impossible because scammers will prefer fake non KYC exchange to scam but it is possible.

Just use trusted non KYC exchanges, you are safe.

[Floczy]

I will personally advice beginners to be focused on a well known exchange first, regardless of if it is KYC or non KYC, going in search for a non KYC exchange immediately may not be a good idea for beginners, (still learning)

But focusing more on a well known reputable exchange is the best approach for a beginner in my own perspective.

Then as you gradually get familiar with privacy, you experiment with non KYC using small accounts and you get to decide what is better for you.

[SeriouslyGiveaway]

As someone still learning, one thing that confuses me is the topic of KYC and non KYC platforms.

A lot of experienced users here recommend avoiding KYC exchanges for privacy reasons, and I understand why you don't want your identity and transaction history permanently linked to a centralized database that can be hacked, sold, or handed to governments.

Reminder: do not keep your money in online accounts.
Why KYC is extremely dangerous – and useless.
Events made you scare about custodial wallets, centralized exchanges.

But my question is specifically for beginners: is a non KYC platform actually safe to start with?

Why not?
Non-KYC exchanges are basically better than KYC exchanges, it's just an undeniable fact and advantage of non-KYC exchanges.

Maybe which platform is more safe...

There are non-KYC exchanges that are better for users in privacy compares to the other non-KYC exchanges because of their differences in operations, payment method options and logs. You never know what a non-KYC exchange does with user data including trading information and history. In addition, which payment methods you chose and used for your trades play important roles for your privacy too.

[jcojci]

You could finds at https://bitlist.co and https://kycnot.me.

Both sites gives you so many sites for non KYC so you don't have to verify your account and stay anonymous. You also gets more information about services that stay for a non KYC.

It will be safe if you can find the trusted non KYC platforms and that is your job to finds the one. We could only suggests and the rest will be up to you choosing the site.

[Hypnotizer]

I will personally advice beginners to be focused on a well known exchange first, regardless of if it is KYC or non KYC, going in search for a non KYC exchange immediately may not be a good idea for beginners, (still learning)

So you’re trying to imply that you personally believe beginners should be much concerned about their privacy? Just use a well known exchange? Nahh.. that’s actually pretty bad, there are also very popular and well known/ trusted non-kyc exchanges out there and they’re actually easy to use.

Then as you gradually get familiar with privacy, you experiment with non KYC using small accounts and you get to decide what is better for you.

Sure it based on personal choices and preferences but for someone that knows what he’s doing and loves privacy why would he bother using KYC platform at first just because he’s a beginner, you can still use non-Kyc no matter who you are, you just need some basic understanding.

[Outhue]

Swaps shouldn't be confused as a crypto exchanges, swaps are to be compared with Dex, where you exchange a token for another bit honestly this isn't what people want, they want the likes of Mexc and Binance without KYC, the difference is there, because some people have bid and trade as they like, there are few things you can't do on Dex and Swap platforms.

I don't have problem with any of these but I do have problem with non existence of many P2P platforms that are genuinely P2P with no KYC requirement involved, the few like Hodlhodl and other are lacking because many locations aren't just working, there Is sadly no one to trade with from so many locations/countries.

[Upgrade00]

But my question is specifically for beginners: is a non KYC platform actually safe to start with?

Asking this suggests that there is a safety quality that comes with KYC platforms and that's not true. You are at a whole lot more risk dealing with a custodian, KYC platform than one that isn't. It's expected you'll do enough research before buying or selling crypto and the services make it so that you understand how it works easily, anyone can manage it.

With non KYC platforms your data is not at risk of getting exposed.

[Floczy]

I will personally advice beginners to be focused on a well known exchange first, regardless of if it is KYC or non KYC, going in search for a non KYC exchange immediately may not be a good idea for beginners, (still learning)

So you’re trying to imply that you personally believe beginners should be much concerned about their privacy? Just use a well known exchange? Nahh.. that’s actually pretty bad, there are also very popular and well known/ trusted non-kyc exchanges out there and they’re actually easy to use.

Yes there are popular well known non-KYC exchanges, but don't misunderstand me

I am not saying beginners should completely ignored privacy, my point is simple

Beginners are vonurable to mistakes and fake platforms so focusing first on a well known and reputable exchange should be their concern regardless of if it is KYC or non-KYC,

Okay let me make this simple with an example,
There are places where KYC is well known more than that of NON-KYC, and if a beginner should focus on NON-KYC in such an environment there is a high probability that that person will get scammed or go for a bad exchange,

So it should be well known first regardless of KYC or not, then as they gain experience and understand privacy better, they can test out non KYC with little amount and they can decide which is better for them

[knowngunman]

I will personally advice beginners to be focused on a well known exchange first, regardless of if it is KYC or non KYC, going in search for a non KYC exchange immediately may not be a good idea for beginners, (still learning)

But focusing more on a well known reputable exchange is the best approach for a beginner in my own perspective.

Then as you gradually get familiar with privacy, you experiment with non KYC using small accounts and you get to decide what is better for you.

The problem here is that they may get comfortable with it and may never bother again about their privacy. Even as a beginner, if they are worried about their privacy at that early stage, it's better to get started with non KYC platforms and get use to it than starting with KYC exchanges and plan to switch later. The damage is already done and can not be revoked the moment you submit your documents. But if they don't seem to care about their privacy in the first place, then they may stick to KYC exchanges but should be aware of risk involved. They earlier the start, they more they get familiar with it.

[salad daging]

But my question is specifically for beginners: is a non KYC platform actually safe to start with?

Make sure you click on this link: https://bitlist.co/exchanges
Then choose the top non-KYC platform because it has a good reputation on the forum and has never experienced any problems, no one here has complained about it.

That's our concern about KYC exchanges - fear of our data being misused or hacked because there have been many cases like this.

[tech30338]

Are you trying to protect your personal information?
if you don't want to submit information then chose non-kyc exchange, in this you wont worry about your personal information to be expose or when gets hack your information might be sold, the reason i use KYC exchange is because there is higher limit at the same time, its being allowed in my country so i would not be able to worry about legal things, although now, international exchange in our country are ban, so we sometimes use local exchange, still needed kyc of course, of it depends on what safe are you trying to say, safe if its been hack? like what i said if your in kyc if its hack, information may leak, while your funds might get back because they have insurance or funds ready for disaster.

[tbct_mt2]

Are you trying to protect your personal information?
if you don't want to submit information then chose non-kyc exchange, in this you wont worry about your personal information to be expose or when gets hack your information might be sold, the reason i use KYC exchange is because there is higher limit at the same time, its being allowed in my country so i would not be able to worry about legal things, although now, international exchange in our country are ban, so we sometimes use local exchange, still needed kyc of course, of it depends on what safe are you trying to say, safe if its been hack? like what i said if your in kyc if its hack, information may leak, while your funds might get back because they have insurance or funds ready for disaster.

When you do KYC, your personal information and documents sent out of your computer and you no longer control these documents. Your personal documents might be lost by hacks on exchanges or by data leaks from the exchanges to others when it even does not need to be a hack. With many risks which are all uncontrollable by you, it's better to avoid KYC as most as possible.

If no KYC, DEX exchanges are truly privacy for users, you don't have to worry about governments because they will not know that you are using such no KYC DEX. There are possible issues with governments like tax if your trading volume is high, and your trading method is bank transfers. Risk only comes if you trade with someone who have very high trading volume and kind of criminal and money laundering activities that later caught and further investigated by governments.

Let's prioritize no KYC exchange, choose DEX, and try to avoid bank transfers for your trade.

[safar1980]

As someone still learning, one thing that confuses me is the topic of KYC and non KYC platforms.

A lot of experienced users here recommend avoiding KYC exchanges for privacy reasons, and I understand why you don't want your identity and transaction history permanently linked to a centralized database that can be hacked, sold, or handed to governments.

But my question is specifically for beginners: is a non KYC platform actually safe to start with?

Maybe which platform is more safe...

Many experienced users simply store their bitcoins, so they don't need KYC services. I agree with this opinion.
If you want to trade on well-known and large crypto exchanges, you will need to provide your documents for registration.

[NeuroticFish]

is a non KYC platform actually safe to start with?

Maybe which platform is more safe...

You seem to have been misunderstanding something, so I'll start with a simple and clear statement: the safety of a platform is completely unrelated to the requirements for KYC.

Yes, that's true, in most countries the crypto platforms are tied to money related rules, including the requirement (by the law) to ask for KYC.
A platform can easily ask for KYC exactly to look more legit, and the scam.
On the other hand a non-KYC platform will probably try harder to build up trust exactly by being very fair with their customers.

As already said, the best indicator is people's reviews on Bitcointalk.
Even more, I'd look for not-too-old reviews (or just ask plainly), because I've seen (mostly in gambling though) also platforms who changed owners and then causing problems.
Also keep in mind that certain platforms (eg DEX) may be fair, but the lack of knowledge on your side can give other users from same platform the opportunity to scam you.


TL;DR: The safety of a platform is completely unrelated to the requirements for KYC; look for new reviews in Bitcointalk or, even better, ask specifically.

[Floczy]

I will personally advice beginners to be focused on a well known exchange first, regardless of if it is KYC or non KYC, going in search for a non KYC exchange immediately may not be a good idea for beginners, (still learning)

But focusing more on a well known reputable exchange is the best approach for a beginner in my own perspective.

Then as you gradually get familiar with privacy, you experiment with non KYC using small accounts and you get to decide what is better for you.

The problem here is that they may get comfortable with it and may never bother again about their privacy. Even as a beginner, if they are worried about their privacy at that early stage, it's better to get started with non KYC platforms and get use to it

And I hope you know that KYC or NON KYC is a personal decision, based on your personal consern of privacy.

KYC on its own is not a general red flag or something, this is something you will want personally or not, it is 100% you decision
So I don't get how someone getting comfortable with it happens to be a bad thing?? according to what you have said

Once they get to understand more of how everything is they get to decide which is comfortable for them

[ColdLava40]

Maybe which platform is more safe...

Of course they are and pretty easy to use.

A few of the non KYC exchanges I've seen don't offer complicated Interfaces like cex does.you just have to understand how to use them which isn't a big deal too.

Many beginners rush into cex exchanges because of the many other services they can get from using them. Some do store their coins which is wrong as you can lose your coin like you've said to hacks or scams.

Don't trust third party with your data or coins. They may claim to be safe but are not. The safest place is where you protect your privacy.