06 Mar 2023By PAYCEC
Binance, Kraken, and Kucoin have integrated blockchain technology in payments so that you can make crypto-to-fiat exchanges without KYC. They only require your email address to complete the signup process and facilitate fast and easy deposits and withdrawals.
Decentralized exchanges (DEX) are a good option if you want to convert large amounts of Bitcoin to fiat. Because the wallets are separate from the exchange, you are under no obligation to disclose your private keys to anyone.
A Bitcoin ATM, also known as a BTM, allows you to exchange your Bitcoins for fiat money. The KYC rules and withdrawal limits may differ depending on where the ATM locates. But many do not require KYC to buy and sell Bitcoin. You can use them for smaller blockchain payments, but remember that they may not be easily accessible.
But, to be completely honest, all blockchain payment gateways must adhere to global KYC and AML regulations to verify the identity of their customers when dealing with them. Even peer-to-peer exchanges such as LocalBitcoins and Paxful now require user identification to connect buyers and sellers. If an institution fails to comply, it may incur fines. If you want to withdraw money, you must provide government-issued identification documents.
For more information, please visitPayCEC Frequently Asked Questionson fiat, blockchain, and cryptocurrency.
