The cryptocurrency exchange market is highly competitive. Each exchange offers potential customers as many useful features as possible. But they have a basis for identity and account verification. This is necessary for security reasons. This way, the administrator can ensure that someone registered their document and didn’t steal it.
Many users don’t want to send photos and documents indiscriminately. It seems that the personal information of millions of users has occasionally leaked from a reputable service.
5 Best Crypto Swap Platforms
The existing centralized cryptocurrency exchanges try to protect the anonymity and confidentiality of customers. It is the basic concept. Digital currency transactions don’t necessarily require authentication with personal data.
It has been operating since 2014. The platform has become one of the largest and safest exchanges in the world. Enter the username and password to register. To activate your account and start swapping BTC to PPT or other coins, you need to follow the link in the email that Bittrex sends to your inbox.
But that’s not all. Bittrex requires user authentication. If you don’t pass the procedure, you will not be able to withdraw from your account. To verify your identity, enter your name, date of birth, address, zip code, and passport number (optional) in the application form. But it is worth noting that Bittrex doesn’t require uploading scanned documents for verification, unlike the other platforms. Just enter the data, and the service will check it for you. If you succeed in the procedure, you can withdraw up to 3 Bitcoins daily.
CEX.IO was founded in London in 2013. It offered cloud mining services until 2015 and owned the largest Bitcoin mining pool until 2016. CEX.IO currently operates as an online cryptocurrency exchange service.
All you need to do to sign up for CEX.IO is enter your email address, set a password, or use your social media account. After submitting the form, wait for a reply email to arrive in your inbox and send a confirmation email. Then you can trade cryptocurrencies within limits set by the exchange.
It is an exchange founded in Hong Kong in 2014. You can trade and exchange cryptocurrencies and more than 500 currency pairs. The platform has its internal currency. Its holders receive daily dividends to benefit from trading discounts and reduced withdrawal fees.
The exchange verification is optional if you don’t plan to withdraw more than 2 Bitcoins daily. In other cases, you will have to submit and check all the documents and wait for the procedure to be completed, which can take several days.
Launched in 2013, it operates in over 500 currency pairs and enjoys widespread trust among users. You can exchange BTC to BAT or any other pairs. Cryptocurrencies and fiat money are traded there. Due to a large number of trading pairs and futures, professional traders are firmly established on this exchange. No authentication is required, but cryptocurrency and fiat currency transactions and withdrawals are only possible for authenticated users.
There are now many centralized exchanges. Most of them require a strict process of KYC and many other procedures that can be very annoying. LetsExchange is a multi-currency platform for people who don’t want to register. You can immediately start trading or exchanging if the current rate is right for you. The process is fully automated, which allows you to quickly perform various replacement operations.
The cryptocurrency exchange market is highly competitive. Newcomers are more likely to register on platforms that don’t require identity verification. After you are convinced that the exchange is credible, think about verification to increase your profitability.