A question a lot of people have been asking me lately is how they can convert stablecoins or other cryptos to bitcoin but without using centralized KYC exchanges.
Despite crypto being anonymous and private, the exchanges that deal with them are not. Most exchanges initially started with the same model but with time became more strict with their KYC rules.
Thankfully these KYC rules are heavily enforced when fiat is involved but not so much when trading crypto-to-crypto. There are a few exchanges that allow users to trade crypto for bitcoin without undergoing KYC, but the catch is that there is a limit.
Here is a list of exchanges where you can trade crypto for bitcoin without undergoing KYC:
HitBTC:
Founded in 2013, HitBTC is a leading European exchange offering a dynamic range of crypto coins, a state-of-the-art terminal, and high liquidity.
Fee: 0.2 — 0.08% fee based on various levels and tiers
Withdrawal limit: 1 BTC/24 hr or 5 BTC monthly for unverified/no KYC users
KuCoin:
Often called ‘People’s Exchange’, KuCoin is yet another leading cryptocurrency exchange that offers hundreds of trading pairs and high liquidity for users.
Fee: 0.1% based on various levels and tiers
Withdrawal limit: 1 BTC/24 hr for unverified/no KYC users
CoinEx:
A relatively new crypto exchange, CoinEx was launched in 2017 with its headquarters in Hong Kong. It offers a user-friendly, high-speed crypto trading platform that is secure and accepts users from all over the globe.
Fee: 0.3% — 0.05% based on user type and coin
Withdrawal limit: $10,000/24 hr for unverified/no KYC users
Poloniex:
A long-standing crypto exchange, Poloniex, was founded in 2014 in the USA offering a wide selection of crypto coins and competitive fees to its users.
Fee: 0% — 0.1550% based on the variuos tiers
Withdrawal limit: $10,000/24hr or $50,000/24hr [if 2FA enabled] for unverified/no KYC users
Bisq:
One of the popular decentralized P2P trading platforms, Bisq offers users the ability to trade cryptocurrency without the need to go through verification.
Fee: 0.1% maker and 0.7% taker
Withdrawal limit: No limit
Huobi:
Founded in 2013 in China, Houbi is a global cryptocurrency exchange providing deep liquidity and a vast selection of coins.
Fee: 0.2% base fee and additional fee based on various trading tiers
Withdrawal limit: 0.06 BTC /24 hr for unverified/no KYC users
Source: Blockonomics - How to Convert Bitcoin to Stablecoins without KYC
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