Is KYC required for Bitcoin investment?

[Razor1911]

It's the common question that many newbie crypto investors ask. If you invest any other businesses, you will need to verify your KYC. But do we need to verify our KYC for investing in Bitcoin?

Well the answer is No, not necessarily. There are many exchangers where you can buy crypto coins without needing any documents. Though there are also some sites which asks for your documents for trading in their sites. So there is no document needed necessarily for buying or selling crypto coins. Those sites are well reputated and trustworthy like binance or bitpanda.

 

[Razor1911]

First of all cbn balance not really need transactions and cryptocurrency difficult fact data shows that the trading volume increased significantly after the ban and you should also note that the cbn and set up commentary as working and how best they can go into cryptocurrency activities safely.
Yea, luno doesn't have peer-to-peer future and the best place to use P2P is on binance and local Bitcoin and most people they are very legit.

I have lately come to know about the P2P system when I created my account in binance. Though the platfrom is good, well built and there are many things to do, but the verification process is not good actually. Since not all countries have allowed the citizens to hold the crypto. In such a case it may become a problem in the future if we get caught holding crypto, and the KYC thing will make situation even worse. I like to be anonymous in crypto market.

 

[Putta Vince]

Kyc is not required for you to hold crypto in any wallet. You can also trade within the limits in many exchanges without kyc , but they may ask for kyc if your trading amount exceeds the limit. So to use crypto , you dont need kyc , which is what makes crypto different from other payment methods.

 

[Razor1911]

Kyc is not required for you to hold crypto in any wallet. You can also trade within the limits in many exchanges without kyc , but they may ask for kyc if your trading amount exceeds the limit. So to use crypto , you dont need kyc , which is what makes crypto different from other payment methods.

I have an account in binance, and they need you to verify their account in order to use the app. Though I agree there are many other apps like atomic wallet or trust wallet where you can hold your coins anonymously. I used to prefer atomic wallet, but after using binance, I have shifted now to binance, as binance have more features.

 

[btaliat]

I have not come across any wallet or even exchanger that won't ask for kyc. I remembered how I struggled to get myself verified expecially on crypto.com. Just like somone said, the kyc stuff can let government go after crypto users in some countries where crypto is banned but it is good to prevent fraudulent activites.

 

[Razor1911]

I have not come across any wallet or even exchanger that won't ask for kyc. I remembered how I struggled to get myself verified expecially on crypto.com. Just like somone said, the kyc stuff can let government go after crypto users in some countries where crypto is banned but it is good to prevent fraudulent activites.

You have probably tried those wallets which has trading features on it. Try trust wallet, or atomic wallet. These wallets doesn't require anything, not even your email. These apps I prefer for holding my online coins as I am unsure whether our govt will approve the use of Bitcoin in future or not. It is safe to be anonymous as of now. Later when govt will allow, I will shift my coins to wallets with better Features.