ZoneBitcoin EditorialWhen you want to buy bitcoin, you should know that it is possible to do so in several ways. Even more, you should know that there are two main ways to buy them: either through centralized platforms by providing identity documents. Or, through peer-to-peer platforms that do not require KYC.
The term KYC refers to the English expression “Know Your Customer” which consists of sending personal information (identity documents, proof of address, etc.) to a company subject to laws mainly against money laundering.
However, it is imperative to know that you can perfectly and legally buy bitcoin without KYC if you want to preserve your confidentiality. It will then depend on the objectives and wishes of each person.
Fortunately, there are platforms that allow you to purchase Bitcoin without having to provide this personal information. In this article, we will explore the five best sites to buy Bitcoin without KYC.
(For pragmatic reasons of article length, we have here selected the most popular and easiest to use platforms and sites. We are preparing other articles for more advanced profiles).
1/ Relay App: The simplest
For a novice in the field (and even for a more advanced profile), it seems to us that Relai App is a fantastic application due to its simplicity. User-friendly and convenient, Relai App is a Swiss company that allows you to buy and sell bitcoin without KYC with a limit of 1000 euros or Swiss franc per day.
To buy bitcoin without KYC, the procedure is very simple. All you need to do is make a bank transfer to get your bitcoins. When registering, please note your seed phrase (series of 12 or 24 words) because your bitcoin will be sent to this wallet. This will be how you can control access to your funds. Do not tell anyone this sentence. Then, of course, you can send them wherever you want.
You can use our code: zonebitcoin for a 20% fee reduction!
2/ Peach Bitcoin, the most minimalist
Here again, Peach Bitcoin from a Swiss company which allows you to buy bitcoin without KYC via a very simple application. There is a wide choice of payment such as bank transfer (instant or not), SEPA transfer, payment by PayPal, etc.
The principle is very simple. You decide how much bitcoin you want. You can adjust the price according to the market price and buy it more expensive or cheaper.
Then, you send the sum in euros to Peach's safe which will keep it safe. There, we will offer you “matches” which correspond to bitcoin sellers who want to negotiate with you. Once you accept the match, we send you the bitcoin to the wallet of your choice. Easy as pie, right?
3/ LocalCoinSwap, the most eclectic
Sincerely, LocalCoinSwap, This is one of our favorites on this list because it is a site for buying and selling bitcoin without KYC, of course, but also other cryptocurrencies. We use it very regularly because it is one of the fastest in terms of processing operations.
This may be particularly interesting for you, if you want to maintain your anonymity and continue trading stablecoins or ETH because these cryptocurrencies are supported on the platform.
LocalCoinSwap is enjoying ever-increasing popularity and allows you to take advantage of numerous offers around the world.
A simple registration process, comprehensive payment methods, very easy to use make it a great platform to buy bitcoin without KYC.
—>You can read our tutorial and review on LocalCoinSwap to find out more.
4/ Agora Desk, the most confidential
It is a platform that deserves more light because the purchasing process is very safe. AgoraDesk. It is a functional platform which is concerned with protecting the privacy of its users. Indeed, it is for example possible to use the platform using Tor, in order to guarantee even greater anonymity.
Founded by the localMonero team, you can just as easily find methods to buy KYC for bitcoin or for Monero.
The purchase fees are among the lowest on the market with free transactions (apart from blockchain fees of course).
5/ Noones, the most international
Noons is a new platform that was founded by Ray Youssef, an entrepreneur who has peer-to-peer experience with PaxFul in particular. Now he has focused on the development of Noons which aims to be the ideal peer-to-peer platform for what we call the “Global South”.
However, you should know that the platform is used internationally, of course. In this sense, it is certainly one of the most international with more than 300 payment methods accepted. If you live abroad or want to trade in a local currency like the CFA Franc, you will certainly find what you are looking for on Noones.
How to buy Bitcoin without KYC?
As a general rule, on applications like Relai App, use is rather instinctive and the steps are explained throughout your journey.
Regarding peer-to-peer platforms like Peach, AgoraDesk or LocalCoinswap, the steps are explained below. For this example, we summarize the steps and take the scenario where you want to buy bitcoin without KYC.
- Registration on the platform with password and email.
- Selection of an offer according to your choice (payment method, chosen currency, and amount in bitcoin)
- You then choose the person and the offer that suits you.
- You send the amount which will be held by the platform's escrow system.
- There, once the person knows that you sent the money, then they unlock the bitcoin.
- You receive the bitcoin on your wallet!
- The operation is completed and you can leave a notice for the next people who want to trade.
What is important to understand is the escrow system (and not crook!) or fiduciary deposit in French which allows the platform to be able to “keep” the funds as guarantee as long as the other party does not has not released. This allows you to carry out transactions with a certain guarantee.
Final word: Why buy Bitcoin without KYC?
Buying Bitcoin without KYC offers several advantages. First, it helps preserve user anonymity. In an increasingly connected world, your privacy must be a priority. This helps avoid potential risks associated with disclosing personal information online. Second, it avoids the long waiting times associated with KYC checks on some platforms.
Finally, for certain countries or residences such as Morocco where the purchase of bitcoin is not authorized, this remains the only alternative…
You can watch the video “how to buy bitcoin without KYC" on Youtube.
FAQ
Can I buy Bitcoin without KYC?
Yes, there are several platforms that allow you to buy Bitcoin without KYC. We have mentioned in this article the most popular applications and platforms including AgoraDesk, Noones, Peach etc. We can also mention Bisq for example.
Is it safe to buy Bitcoin without KYC?
Yes, it is secure through the escrow system as long as you choose a reputable exchange platform and take appropriate steps to secure your Bitcoins once you have purchased them.
What is KYC?
KYC, or Know Your Customer, is a process of verifying the identity of a platform's customers. This allows the company to be in good standing with financial institutions and cryptocurrency exchanges to prevent fraud and money laundering.
Links and articles you might like:
- Our opinion on Relai App
- Read the article on Peach Bitcoin
- Our opinion on AgoraDesk
- Our opinion and Tutorial on LocalCoinSwap
Note: This is not investment advice. Always do your own research.
