The post Guide to Operating on Non-KYC Crypto Platforms appeared on BitcoinEthereumNews.com.

KYC (or identity verification) is not favored by many crypto users.  In fact, cryptocurrencies were created as anonymous and decentralized tools based on public ledgers, but obviously without the publication of users’ private personal data.  However, when centralized exchanges began to emerge, which were widely used from the start, they inevitably had to comply with the laws of the countries in which they operate, where user identity verification is almost always legally required.  The acronym KYC is used to identify the process of verifying customer identity on centralized platforms, which stands for Know Your Customer, therefore, those platforms that do not require identity verification are called non-KYC. First Point: Fiat Currencies Fiat currencies technically cannot be used on decentralized platforms because they are not designed to be used anonymously in electronic or digital form.  The only truly anonymous way to use fiat currencies is through paper banknotes, which, however, cannot be used on any online platform. Therefore, if one wishes to operate on crypto platforms using fiat currencies like dollars, euros, or others, it is almost impossible to avoid having to go through centralized platforms with KYC.  Second point: decentralization At this point, however, it is necessary to make an important distinction.  In fact, decentralized platforms, namely those based on public blockchains, almost never require KYC, also because there is no way to verify a person’s identity without using centralized tools (such as entities that issue identity documents).  So on one side, there are decentralized platforms, which do not have KYC but also do not have fiat currencies, while on the other side, there are centralized platforms that often include fiat currencies but rarely lack KYC.  Centralized Platforms The most widely used crypto platforms are undoubtedly the centralized ones.  Besides having the advantage of allowing the use of traditional currencies,…

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Filed under: News - @ December 27, 2025 7:15 am