Cryptocurrency is getting popular and everyday new investors join the space. People wish to trade their assets for other preferred assets. It can be done on the exchanges and there is an array of options when it comes to the best exchange to exchange your asset. you probably already used a couple of them most popularly Binance and coinbase. However, following regulatory systems and the need to regulate the exchange of cryptocurrency and digital assets, exchanges are employing means to identify their customers and ensure that customers’ legal details are well-documented in case of fraudulent activities.
Binance to coinbase as well as other reputable cryptocurrency exchanges have implemented compulsory kyc rules for users of the exchange. KYC is a short form for “Know your customer”. This process involves submitting your legal documents to The Exchange. The exchange via third party companies access files submitted to them. If these files meet certain rules, the concerned user is approved to trade on exchange.
Unfortunately, many cryptocurrency enthusiasts are unable to complete this process due to some personal issues. In case this applies to you these are some exchanges you can use instead.
- Kucoin: Kucoin is a cryptocurrency exchange located in Seychelles. processing over 6 billion dollars in trade it is a quite popular exchange. over 1,300 assets are listed and are tradable on Kucoin. fortunately, the compulsory kyc doesn’t apply to this exchange… at least for now. worried about submitting your documents? you should consider trading your assets on this exchange. Fortunately, many great digital assets are currently trading on the sections.
- Gate.io: gate.io average is over 4 billion dollars in trade daily. This figure could be very high when the market gets busier. On this exchange listed several interesting cryptocurrency assets, you can freely trade these assets without submitting your legal documents. Gate.io flaunts a similar interface to most other cryptocurrency exchanges. This similarity means you won’t really get to miss using your favourite exchanges.
- Bkex: Over 2 billion dollars worth of cryptocurrency assets are traded on this exchange daily. over 700 assets are currently trading on this exchange, this includes Bitcoin ethereum and several stablecoin pairs. Currently this exchange doesn’t have Strict customer identification rules. That being said, you can freely trade your digital assets on this exchange.
While these exchanges allow you trade Your assets without customer identification there are still limits to how you can trade on these exchanges while you are still unidentified. withdrawal limit could be capped as well as the amount of assets you can trade at a go. However, this comes in handy for asset owners who are yet to obtain documents required for this process.