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Author: Admin | 2025-04-28
Or sell crypto without KYC. These machines look and work much like automatic teller machines. Most machines only require a phone number and a supported payment method. However, crypto ATMs come with at least two caveats: cost and transaction limits.Fees for crypto ATMs tend to be much higher compared to crypto exchanges or even third-party providers common to no-KYC exchanges and DEX platforms. In some cases, you may pay up to 20% or more in various fees, making ATMs one of the costlier ways to buy crypto. Some ATM providers also require KYC information once the transaction reaches a certain value.Crypto ATMs are also heavily regulated in many countries. For example, although there were previously crypto ATMs in the UK, the FCA has clamped down and there are no longer any available in the country.Peer-to-Peer Crypto ExchangesPeer-to-peer (P2P) exchanges allow crypto users to buy and sell crypto for other currencies. Binance offers an active peer-to-peer platform, as does MEXC. Several popular apps, such as Bisq, also provide a platform for buying and selling cryptocurrencies. Expect a limited number of supported cryptocurrencies. You’ll need to swap on a DEX or trade on a No-KYC exchange if you want to trade into a less common crypto asset and stay KYC-free.The Future of KYC in CryptocurrencyIs KYC here to stay? Given the robust international framework of laws and regulations surrounding financial markets, KYC will be a part of crypto trading for the foreseeable future. We’re likely to see more No-KYC exchanges relent and start requiring identity verification from customers. While on the other hand, non-KYC casinos will be growing in numbers.At present, decentralized exchanges remain KYC-free with the exception of third-party providers that allow direct purchases. For example, you can use Uniswap, a leading DEX, without providing your name, address, or any identification. However, Uniswap’s third-party providers require KYC to buy crypto using traditional currencies like the US dollar.A controversial new addition to the code in Uniswap V4 now also allows liquidity providers to require KYC verification before users can swap from KYC-protected pools. KYC may be coming to decentralized exchanges as well, at least in a limited form.ConclusionKnow Your Customer regulations take a similar form in many parts of the world. These requirements center on identity verification for customers of financial services providers but also extend to ongoing reporting and risk assessment. In many jurisdictions, crypto exchanges fall under these requirements as
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