Is it possible to buy crypto on Reddit without going through KYC?

3 answers

• Dec 29, 2021 · 3 years ago
  Yes, it is possible to buy crypto on Reddit without going through KYC. There are certain subreddits where users can directly trade cryptocurrencies with each other, without the need for KYC verification. However, it's important to note that this method carries some risks, as it involves trading with unknown individuals and there is no guarantee of the legitimacy of the transactions. It's recommended to exercise caution and do thorough research before engaging in such trades.
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• Dec 29, 2021 · 3 years ago
  No, buying crypto on Reddit without KYC is not possible. Most reputable cryptocurrency exchanges and platforms require users to complete KYC verification before they can buy or trade cryptocurrencies. This is done to ensure compliance with anti-money laundering (AML) and know your customer (KYC) regulations. While there may be some unofficial channels on Reddit where users claim to offer KYC-free trading, it's important to be cautious as these may be scams or involve illegal activities.
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• Dec 29, 2021 · 3 years ago
  As an expert from BYDFi, I can confirm that buying crypto on Reddit without going through KYC is not recommended. KYC processes are in place to protect users and prevent illegal activities such as money laundering. It's always safer to use reputable cryptocurrency exchanges that comply with regulatory requirements. BYDFi, for example, prioritizes the security and compliance of its users' transactions, ensuring a safe and trustworthy trading environment.
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