The process of buying Ethereum is not as straightforward as you might think. This guide is going to cover the basics of how to buy Ethereum without KYC (Know Your Customer) and what are the risks involved.
If you’re wondering whether or not it’s safe to buy Ethereum without KYC, then the answer is yes, but there are risks involved that you should be aware of before doing so.
Can you Buy Crypto Without KYC?
Investors in the crypto market are looking for ways to buy cryptocurrencies anonymously. This is because they want to avoid the KYC process. KYC is usually a lengthy and complicated step.
Some of these platforms are starting to offer peer-to-peer exchanges that do not require you to go through the KYC process. However, it is important to note that these platforms are not regulated so it is advisable that you only invest in them if you have a high-risk tolerance.
Therefore, it is possible to buy crypto without KYC. However, it is also important to consider the risks of not following the KYC procedure.
Where Can I Buy ETH Without Verification?
The best way to buy Ether anonymously is by using peer-to-peer exchanges. These are sites that connect buyers and sellers of Ether. The sellers are not required to register their personal information, which makes it more difficult for the government to track them down.
A good example of this is LocalCryptos, where you can buy Ether without any registration or KYC requirements. The site only requires an email address and a password – nothing else.
The platform works as a marketplace that allows your local currency to be traded for Ether – which is the token that is used on the Ethereum blockchain. These transfers can be accomplished by using credit or debit cards, bank transfers, and Paypal.
There are also other Peer-to-Peer marketplaces where you can trade ETH without KYC. Apart from LocalCryptos, you can also try ShapeShift, eToro, Paxful, LocalBitcoins, and Xcoins. These P2P sites also allow investors to trade ETH anonymously.
How Can I Buy Crypto Without KYC?
There are many ways to buy Bitcoin without KYC. One of the most popular ways is to use P2P (peer-to-peer) trading platforms like LocalBitcoins.com. Another way is to use a service that provides Bitcoin without KYC, such as Changelly.com or ShapeShift.io
You can buy Bitcoin without KYC requirements if you use a crypto exchange or platform that does not require ID or KYC.
The first step is to find a crypto exchange that doesn’t require KYC. Some exchanges and platforms do not require ID or KYC because they are based outside of the US or EU and don’t fall under the jurisdiction of these regulations.
However, some exchanges may have other requirements for you to be able to buy Bitcoin without ID or KYC. For example, you may need a bank account to transfer fiat currency into the exchange before you can buy Bitcoin anonymously.
Some exchanges and platforms will allow you to buy Bitcoin without ID and KYC requirements by using a proxy, while others will allow you to trade anonymously.
Can You Buy Ethereum with PayPal?
If you don’t want to follow the KYC procedure and reveal your ID, you can also buy ETH via PayPal. If you are a newbie in the crypto market, you had better start with Ethereum and Bitcoin first. These are two cryptos that support PayPal transactions.
In many cases, you might not be able to purchase cryptocurrency using your PayPal balance, but have to use the funds from your linked credit card. In another word, you have to have the deposit in your bank account to trade ETH or other cryptos via PayPal. This is also a security measure to prevent PayPal money fraud.
Apart from Bitcoin and ETH, you can also trade Litecoin and Bitcoin Cash using PayPal. These four cryptocurrencies are currently working with PayPal app without revealing your KYC ID.
Final Touch
The world of cryptocurrency can be confusing for newcomers, but it doesn’t have to be. Some traders look for ways to buy Bitcoin without revealing their identity as they prefer anonymity and privacy.
The process of identity verification is still a major pain point for many exchanges. As more people are entering the blockchain space, the need to protect data and verify identities becomes even more important.
However, with varying degrees of ID document requirements, it’s hard to know what to ask for when you start trading ETH or other types of crypto.
