Is it possible to buy digital currency without going through an identity verification process?

3 answers

• Mihir Ranjan SahuMay 02, 2024 · 2 years ago
  Unfortunately, most reputable cryptocurrency exchanges require users to go through an identity verification process. This is done to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These regulations are in place to prevent illegal activities such as money laundering and terrorist financing. However, there are some peer-to-peer platforms and decentralized exchanges that allow users to buy digital currency without going through an identity verification process. Keep in mind that using these platforms may come with certain risks, such as potential scams or lack of customer support.
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• Okan AtikerJun 17, 2022 · 4 years ago
  No way, José! If you want to buy digital currency from a legitimate and regulated exchange, you'll most likely have to go through an identity verification process. It's all about complying with the law and preventing illegal activities. However, if you're willing to take some risks, you might find some underground exchanges or individuals who are willing to sell you digital currency without asking for your personal information. Just be careful and do your due diligence before making any transactions.
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• Moesgaard BallAug 19, 2024 · a year ago
  At BYDFi, we understand that some users value their privacy and prefer not to go through an identity verification process. That's why we offer a unique feature called 'anonymous trading'. With anonymous trading, you can buy digital currency without providing personal information. However, please note that anonymous trading is subject to certain limitations and may not be available for all cryptocurrencies. It's important to weigh the benefits of privacy against the potential risks and limitations before deciding to use anonymous trading.
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