Are you searching for how to buy Bitcoin without KYC Verification?
These days, verifying users on a cryptocurrency exchange wallet, or cloud storage is becoming common practice.
Just a few years ago, verification was just an added option. Today, you simply cannot use the services of most cryptocurrency platforms without passing it.
For many users, the issue of privacy when performing crypto transactions is crucial. Therefore, they are looking for an opportunity to buy BTC with a credit card without verification.
What Does KYC Mean In Crypto Exchanging?
KYC is an acronym that stands for Know Your Customer and describes the user verification process that allows businesses to identify their customers.
In most cases, any user who has registered an account on a crypto exchange must confirm their identity with photos and documents.
After passing the verification, users will be able to make full use of the platform’s services and products.
Why Do Crypto Exchangers Require KYC?
As mentioned earlier, some crypto exchangers do not allow you to use basic services without passing verification.
For example, the popular Binance exchange is one such platform. You simply will not be able to replenish your portfolio and start trading on this exchange without passing the first verification step.
Some companies, in turn, require KYC directly during the registration process on their website.
At the same time, some providers give you the right to choose whether or not to pass the verification. Yet they simply put limits or restrict certain functions.
The FTX exchange, Kucoin, is a good example. Without verification, you can only deposit a certain amount of funds into your account. Usually this amount is around $1,000.
Also, deposits are allowed on some exchanges, but withdrawals without ID verification are not.
That’s why many crypto enthusiasts are looking for an opportunity to buy bitcoins with a credit card instantly without verification.
If we consider the situation from the point of view of companies that implement KYC, it becomes clear that mandatory verification is not their whim. Verification is more like a regulatory standard that helps prevent fraud, money laundering, and identity theft.
Fraudsters are increasingly using fake or stolen identities to target crypto companies. The most common threats facing crypto exchanges today include payment card fraud, phishing attacks, and transfer fraud.
Thus, identity verification is an important part of the arsenal of crypto companies in the fight against fraud.
What Are The Main Pitfalls Of KYC For Crypto Enthusiasts?
KYC is one of the most controversial topics in the crypto world today. Initially, crypto-currencies were designed as an alternative means of payment to traditional currency.
And the requirements of regulators to comply with KYC prevent the preservation of a decentralized and autonomous structure of cryptocurrency.
Thus, most of the crypto community believes that the verification procedure itself is detrimental to bitcoin . And they will be right since identity verification deprives cryptocurrency of one of its main characteristics: anonymity.
The main drawback for users who pass verification is the discomfort that someone will have all your data.
Many crypto enthusiasts don’t care about the extra security and use cryptocurrency for its anonymity. This is why many people are against KYC.
Your data is your property and the blockchain network itself is anonymous. Thus, it would be strange to deprive the blockchain of this advantage by revealing your identity.
How To Buy Bitcoin With A Credit Card Without Verification?
As mentioned earlier, most crypto exchanges do not allow you to use basic services without verifying your identity because the laws of most countries take this issue very seriously and control it as much as possible. However, there is a solution.
This is where Switchere comes in – a licensed online crypto exchange that allows its users to buy bitcoin with a credit card without verification!
At Switchere, you can buy and sell all major coins in USD or EUR in the fastest and most convenient way, using your VISA/Mastercard/Maestro credit, debit or prepaid card or any other payment method available.
Also at Switchere, there is a good opportunity to buy bitcoin without verification and without KYC for those who want to buy crypto anonymously.
All you have to do is create an account and fill in the basic information (email and phone number) – it’s as easy as A, B, C and it doesn’t take much time!
Why Do Anonymous Bitcoin Transactions?
The rapid development of the Web and the significant growth in the number of hackers and scammers encourage users to maintain anonymity, confidentiality and security.
Problems with leaking personal data and passwords, phishing and blackmail have unfortunately become commonplace.
One thing is clear: to maintain anonymity on the Internet, be sure to provide a minimum of information about yourself, including financial information.
When it comes to selecting a crypto exchange to buy bitcoins online, security should always be the first factor to consider.
Thus, choose only reliable and proven platforms with a good reputation and a careful approach to storing confidential customer data.
In addition, you can equip your computer with a VPN (Virtual Private Network) that will offer you the possibility of hiding your IP address and avoid being traced if you buy Bitcoins.