In order to provide traders the ability to trade cryptocurrencies, platforms have been increasingly requiring registration. These registration requirements are often justified by new KYC and AML regulations. However, it turned out that there are still some exchanges that allow users the ability to trade digital coins without having to have a verified account.
You can lose the balance again
Before the advent of Bitcoin, the question about privacy and transparency was still being asked. Partly, decentralized digital currencies were created in response to the trend towards cashless economies and societies. This threatened privacy. They reintroduced cash with its relative anonymity into the digital space. However, transparency was not lost.
These Shelter Crypto exchanges allow you to purchase cryptocurrency without knowing who you are
This new balance has been challenged. Today, crypto exchanges find themselves in a crossfire between the privacy needs of customers and regulators. For tax purposes, or to stop illicit activity, identity verification is a good idea for crypto-to-fiat transactions. However, crypto-to-crypto transactions are also a target. It’s not known why many countries, such as Poland, exempt them.
The U.S. and European leading crypto exchanges are now collecting personal data from traders. Sometimes, this is done via loyalty programs that offer certain benefits. It is often justified by the need to comply new KYC or AML rules. These requests often come with assurances that the data will be protected. Critics warn that there is still a risk that your sensitive information could be shared with other vendors, lost to hackers or shared with a government.
Some cryptocurrency trading platforms recognize the needs of crypto users and offer services to fill the gaps left by Shapeshift. Last fall, we reported on some of the options. The following options have gained popularity with crypto enthusiasts:
