Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: hugeblack on February 05, 2024, 09:05:58 AM
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What I'm looking for is something simple, an exchange that's decentralized or at least doesn't require KYC verification, is reliable, and I can easily exchange Bitcoin into stablecoins? Is there a decentralized exchange that does this?
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You can use https://exch.cx/
But take note that it is an instant exchange. You can use Tor with it which make it unique and better. I have not heard of the exchange seizing people's coins or token before.
Also know that the stablecoins that you can exchange to for now are USDT, USDC and DAI on ethereum blockchain.
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What I'm looking for is something simple, an exchange that's decentralized or at least doesn't require KYC verification, is reliable, and I can easily exchange Bitcoin into stablecoins? Is there a decentralized exchange that does this?
If you're looking for a simple, no KYC exchange where you can trade BTC to stablecoin, then I'd suggest exch.cx. At the moment, it supports only 3 stablecoins; DAI, USDT, USDC, available on the Ethereum network. I've not used bisq lately, so I wouldn't know.
Edited:
Charles beat me to the first reply spot :)
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What I'm looking for is something simple, an exchange that's decentralized or at least doesn't require KYC verification, is reliable, and I can easily exchange Bitcoin into stablecoins? Is there a decentralized exchange that does this?
As I understand it, BTC does not have smart contracts, so there is no DEX for BTC. In contrast, WBTC appears on both Uni and Pancake DEXs.
If you do not want to perform KYC, you can refer to CEXs that do not require KYC:
Non-KYC exchanges for Bitcoin trading and compare (https://www.altcoinstalks.com/index.php?topic=314409.0)
Unfortunately I haven't used these non-KYC CEXs so I don't have any reviews, you need to experience them yourself. I'm used to using Binance because KYC is not a big deal for me ;D
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1. https://bingx.com — no verification required limit up to 50k$/24 hours.
2. https://www.coinex.com — no verification required limit up to 10k$/24 hours.
3. https://yobit.net — no verification required + no limit.
If you Google it yourself, you can find even more services.
P.S. This is in no way an advertisement. I use it myself, if necessary. Again, if your bitcoins are not clean, any exchange will (instantly) block them. Whether you've been verified or not is completely irrelevant. If the bitcoins are clean, then everything will be fine. And there's nothing to worry about. Just in case you didn't know about it. ???
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1. https://bingx.com — no verification required limit up to 50k$/24 hours.
2. https://www.coinex.com — no verification required limit up to 10k$/24 hours.
3. https://yobit.net — no verification required + no limit.
I just found out that Yobit Exchange does not use KYC and there is no limit for daily withdrawals.
It looks like Yobit was created for traders and investors for super Privacy but has a Centralized Exchange theme.
I have 2 Bitcoins, deposited them into Yobit exchange and withdrawl the funds into USDT equal 2 BTC, without using KYC, what are the steps, right ?
Does Yobit Exchange also use Authenticator and SMS (messanger phone) code for confirmation?
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What I'm looking for is something simple, an exchange that's decentralized or at least doesn't require KYC verification, is reliable, and I can easily exchange Bitcoin into stablecoins? Is there a decentralized exchange that does this?
I would swap Bitcoin into liquid network L-BTC and than it's easy to swap L-BTC into L-USDT stable coin thatis the same as tether on other chains.
This can be done with Aqua wallet or with SideSwap exchange, and you can easily get back into on-chain Bitcoin.
This is in no way an advertisement. I use it myself, if necessary. Again, if your bitcoins are not clean, any exchange will (instantly) block them. Whether you've been verified or not is completely irrelevant. If the bitcoins are clean, then everything will be fine. And there's nothing to worry about. Just in case you didn't know about it. ???
He asked for DEX - Decentralized exchange!
Everything you listed are centralized exchanges ::)
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I just found out that Yobit Exchange does not use KYC and there is no limit for daily withdrawals.
It looks like Yobit was created for traders and investors for super Privacy but has a Centralized Exchange theme.
I have 2 Bitcoins, deposited them into Yobit exchange and withdrawl the funds into USDT equal 2 BTC, without using KYC, what are the steps, right ?
Does Yobit Exchange also use Authenticator and SMS (messanger phone) code for confirmation?
Yes, that's right. Yobit does not require verification and origin of funds. But, if your cryptocurrency (dirty, I think you understand the meaning of these words). Can probably get blocked for it. Because it's a black scheme. No exchange will be happy about it, even if there is no verification. ::)
P.S. What you do is up to you. I don't want to be responsible for anyone else. Don't get me wrong. I only advised what I myself (sometimes) use. No phone doesn't need to be tied up. There is no such thing on this exchange. In the profile settings, you can connect a bot, when withdrawing funds in Telegram, you will receive notifications from him + do not forget about sms on the mail too.
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Thanks for above replies and sorry for the late response. I have not been online for the past few days.
I was looking for something simple for $10,000 or more. I am afraid that I will end up with one of the KYC services, but I will try as much as possible to avoid providing more personal data.
will check them all and give review.
3. https://yobit.net — no verification required + no limit.
Yobit is the last platform you should consider. It has a long history of dozens of scam stories that have not been resolved, in addition to them, they run scam coins and list many of them.
They are scammers and I do not advise anyone to deposit a single dollar for their services.
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You can use https://exch.cx/
But take note that it is an instant exchange. You can use Tor with it which make it unique and better. I have not heard of the exchange seizing people's coins or token before.
This can be done with Aqua wallet or with SideSwap exchange, and you can easily get back into on-chain Bitcoin.
I think sideswap and exch.cx are the best options for now.
Definetly using Tor is a must is you want privacy. I regret not using it in my first swaps using the service, as they may store IP.
Take a look here, this might interest you. Looks like some hacker send funds to them recently.
https://bitcointalk.org/index.php?topic=577207.msg63683183#msg63683183
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dYdX.trade would be a great decentralized exchange. As far as I remember there's no KYC and you control your coins.
Some documentation: https://docs.dydx.trade
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Thorswap.Finance allows you to swap native Bitcoin for several stablecoins but they only support a few blockchains. There is no Tron or Polygon, for example, but they do have ETH, AVAX, and BSC available.
YoBit is non-KYC but they don't have a great reputation.
USDT on Liquid is great if you're just holding. There are hardly any exchanges which accept it for deposits and I don't know of any merchants that let you pay with it.
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Take a look here, this might interest you. Looks like some hacker send funds to them recently.
https://bitcointalk.org/index.php?topic=577207.msg63683183#msg63683183
I am following their response in this case because ignoring an official request to release user data may lead to sanctions being imposed on them or https://exch.cx/ will be seized in the next few months, and if they provide data (I expect they will do so), we must all know that no KYC means enhancing your privacy when doing legal work. Once you conduct any illegal activity or if a government decides to follow you, all these exchanges will fail.
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Take a look here, this might interest you. Looks like some hacker send funds to them recently.
https://bitcointalk.org/index.php?topic=577207.msg63683183#msg63683183
I am following their response in this case because ignoring an official request to release user data may lead to sanctions being imposed on them or https://exch.cx/ will be seized in the next few months, and if they provide data (I expect they will do so), we must all know that no KYC means enhancing your privacy when doing legal work. Once you conduct any illegal activity or if a government decides to follow you, all these exchanges will fail.
Are they obligated by law to hold personal data? I don't know much about this kind of stuff, but I don't think they are obligated to collect many user data.
If they are, they are probably going to have to implement KYC for all users or shut down :(
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3. https://yobit.net — no verification required + no limit.
Yobit is the last platform you should consider. It has a long history of dozens of scam stories that have not been resolved, in addition to them, they run scam coins and list many of them.
They are scammers and I do not advise anyone to deposit a single dollar for their services.
This is not an advertisement, just a recommendation. Realize just one thing. Where you don't have to go through verification - you can easily get gray/black cryptocurrency. It does not depend on the choice of cryptocurrency exchange, but since if we speak for the fact itself, then yes, it is possible, alas. Speaking specifically for Yobit, I haven't had any problems with deposit/withdrawal.
P.S. Try + test most methods. What I could, I gave you a hint. The final choice is up to you. Even in this case, you should be extremely cautious and test I/O from exchanges for small amounts for you to start with. 8)
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dYdX.trade would be a great decentralized exchange. As far as I remember there's no KYC and you control your coins.
Some documentation: https://docs.dydx.trade
Thorswap.Finance allows you to swap native Bitcoin for several stablecoins but they only support a few blockchains. There is no Tron or Polygon, for example, but they do have ETH, AVAX, and BSC available.
I will do more research and may use these two platforms:
- https://dydx.trade/
- Thorswap.Finance
I haven't tried USDT on Liquid so it will be a good experience.
Are there any recommendations or additional information you can provide?
exch.cx has a good reputation in the forum, I will wait to see how they update their data policy before using it, but it will be my first choice in the future unless there is any change.
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What I'm looking for is something simple, an exchange that's decentralized or at least doesn't require KYC verification, is reliable, and I can easily exchange Bitcoin into stablecoins? Is there a decentralized exchange that does this?
If what you mean or looking for is the ability to exchange the L1 bitcoin to a stable through a fully decentralized exchange, then I honestly do not think such exist, and it's because until the arrival of ordinals, it's impossible to build smart contracts on bitcoin L1 blockchain, and we all know that decentralized exchanges only function as smart contracts built and is running on the blockchain.
The only way to be able to convert bitcoin to stablecoin through decentralized exchange if you would first convert your bitcoin to wrapped bitcoin on any other blockchain like Binance smart chain, ethereum, Solana and so on, then you can use decentralized exchanges on any of this blockchain to easily switch or shift from wbtc to stable coin and vise versa.
Edit: contrary from what I said above, I think I remember that it is actually possible to convert native bitcoin to any supported stable coins on dapp.chainge.finance (http://dapp.chainge.finance), I've actually used this Dex exchange a couple of time, but it's been a while so I forgot, you can give it a try.