Cryptocurrencies have changed the way financial systems work. Over the past few years, they have created all sorts of debates in industry circles. With billionaires like Warren Buffett, Jack Dorsey and Elon Musk voicing very strong opinions on either side of the fence, cryptocurrencies have gained a steady following.
In the past year, COVID-19 has changed the way business and financial systems used to operate. Having being touted as one of the world’s worst financial depressions, it saw stock markets and other assets torpedo downwards.
At this time, it was only cryptocurrencies like Bitcoin and Ethereum that showed an upward rise in trajectory. Both in terms of the individual valuations, as well as encouraging a new breed of investors to come on board.
In this resource article, we are going to look at one of the most essential aspect s of the crypto industry- Exchanges. Specifically, we are going to shed light on anonymous cryptocurrency exchanges.
If you are someone that is looking to invest in cryptocurrencies or want to be come part of this ecosystem, stick around till the end of the article.
Cryptocurrency Exchanges: What are they?
Cryptocurrency Exchanges are large trading platforms where an individual can-
- Buy Cryptocurrencies
- Sell Cryptocurrencies
- Exchange Cryptocurrencies
- Consult with Investor Experts
- Check Forums and Blogs for learning and development
In short, cryptocurrencies are by far one of the most important aspects of this industry. They have been helping millions of individuals all over the world trade and invest in Bitcoins.
Cryptocurrency Exchanges are scattered all over the world. They are present in the United States, Germany, Switzerland, Japan, Singapore, South Korea, United Kingdom and in many other parts of the world.
These exchanges control cryptocurrencies worth billions of dollars. They see 24×7 trading, which is unlike what happens in traditional stock markets. In addition to simply buying or selling, they also disseminate a lot of education and information about cryptocurrencies.
They run resourceful blogs and regularly publish White Papers to show the trends, projections and performance of the various assets. Most crypto exchanges are run by Billionaire CEOs that make it a point to hold regular Webinars and Podcasts to encourage normal individuals to invest in the digital asset.
We asked the expert on the cryptocurrency exchanges development Slava Vaniukov – CEO of Softermii: Why do people still apply for this service? And the answer was very obvious: “This is facilitated by the demand for investing in cryptocurrency assets, the development of various types of currency, the integration of blockchain technologies, as it is already becoming an integral part of business”. Read more about cryptocurrency exchanges development here.
The Rise of Anonymous Cryptocurrency Exchanges
While governmental regulations, and taxation policies have allowed for the industry to become a lot formal and organized, there are still a number of grey areas.
Successful investors that are reaping million-dollar profits from crypto investments are not very fond of disclosing their income, growth and earnings. This is because they know that the same can attract the attention of cybercriminals who are always looking to make mischief.
In recent years, this has contributed to the rise of Anonymous Cryptocurrency Exchanges. These exchanges work just like normal exchanges but try to not reveal the identity of the traders and investors on their platform.
The setup process is very essential in the financial arena as it provides step controls required in money laundering and other false actions. Although crypto followers appreciate their own secrecy and anonymity, they do not eternally want to reveal personal data, and even more so to third performances, their documents. In this article, we will examine anonymous crypto exchanges where confirmation is not needed.
Major Advantages of an Anonymous Cryptocurrency Exchanges
In this section, we will point out what are some of the major advantages of anonymous cryptocurrency exchanges. If you are someone who is bothered about your public identity as a crypto investor, please pay attention to this section.
The main advantages of anonymous exchanges are-
1. If the exchange is whacked, you will not be able to happen into the hands of scammers, because you will not give them to the service.
2. Illegal exchange workers cannot use your personal data for their own goals.
3. Registration without confirmation is much quicker; verification of data and papers can take from several days to numerous months.
In addition, it should be noted that not all exchanges normally accept the documents of residents from several countries. Therefore, users have to rack their brains with translation, registration of passports, etc. You can visit here to know more about anonymous cryptocurrency exchanges that operate without a physical verification.
This platform is quite popular and boasts a large trading volume. Officially, it is considered absolutely free of verification, but the user agreement states that the exchange’s management has the right to request confirmation of identity from the user at any time.
Registration data: email address, password, country of residence.
Supported currencies: BTC and some altcoins.
Trading commission: 0-0.25%.
The exchange was launched in 2014 and was previously known as BTC.sx. The platform is registered in London and has a local operating license. Magnr.com does not require any verification and the menu does not even provide such an option.
· email address;
Supported currencies: BTC.
Trading commission: 0.45%.
This exchange does not allow you to work completely anonymously, but it is possible to use sweat addresses without specifying a name. This gives you the right to get the status of a 1st level user – you can trade BTC with a withdrawal limit of $ 5,000. The exchange offers a large number of trading pairs, but cannot boast of large volumes. But recently, Cryptopia has been mentioned more and more often.
Registration data: login, password, mail.
Supported currencies: BTC and many altcoins.
Trading commission: 0.2%.
Conclusion: no commissions (only network commission).
In addition, there are a number of other platforms worth mentioning:
- Whaleclub.co. An exchange that focuses on anonymous trading without any restrictions.
- Etherdelta. Decentralized platform where all operations are conducted through MetaMask.
The Final Word
If trends are to be believed, the number of anonymous cryptocurrency exchanges are going to increase in the near future. There are also some platforms where you can trade without verification on basic accounts, for example, Bitfinex.com, HitBTC.com, SimpleFX.com, etc. However, this possibility may soon be eliminated.
If you would like to know more about cryptocurrency exchanges or how they work, let us know in the comments section below. We will try to answer all your queries.