Is it possible to purchase digital assets without undergoing the verification process?

3 answers

• Aditya VegesnaNov 05, 2023 · 2 years ago
  Yes, it is possible to purchase digital assets without undergoing the verification process. Some decentralized exchanges (DEXs) allow users to trade cryptocurrencies without the need for verification. However, keep in mind that these DEXs may have lower liquidity and security compared to centralized exchanges. Additionally, certain peer-to-peer platforms may also facilitate direct transactions without verification, but it's important to exercise caution and verify the credibility of the seller before making any transactions.
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• Klavsen ReeceJan 16, 2025 · 6 months ago
  Unfortunately, most reputable centralized exchanges require users to undergo a verification process before they can purchase digital assets. This is done to comply with anti-money laundering (AML) and know your customer (KYC) regulations. The verification process helps ensure the security and legitimacy of transactions on these platforms. If you're concerned about privacy, you can explore privacy-focused cryptocurrencies or decentralized finance (DeFi) platforms that offer more anonymity in transactions.
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• ADHITHYA VEERAMALAI MANICKAM COct 16, 2021 · 4 years ago
  At BYDFi, we prioritize the security and compliance of our platform. Therefore, we require users to undergo a verification process before they can purchase digital assets. This helps us prevent fraud, money laundering, and other illicit activities. We understand that some users may prefer more privacy, but we believe that a secure and regulated environment is crucial for the long-term growth and stability of the cryptocurrency industry. If you're looking for a reliable and compliant platform, we encourage you to complete the verification process on BYDFi.
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