What exchanges should I use?
Mitchell
Like wallets, the cryptocurrency exchange an individual would utilise would come down to individual preference. Most centralised cryptocurrency exchanges will have in place KYC (know your customer) processes to verify a user’s identity and to confirm that the customer is who they claim to be. These processes are in place to prevent illegal activities such as hacking, money laundering and tax evasion amongst other things. If an exchange does not have KYC in place, it may be liable for any illegal activity. The only current centralised exchange that does not enforce KYC is Kucoin, however, users are only allowed to withdraw 1 BTC per day from Kucoin without KYC. So how can you buy cryptocurrency without KYC? Decentralised exchanges. Uniswap, PancakeSwap, Sushiswap and many more decentralised exchanges let you trade pairs of cryptocurrencies, with trade prices set through smart contracts.
Popular Decentralised Exchanges
The most popular decentralised exchanges are Uniswap, Tokenblon, 0x Protocol, Venus, Sushiswap, Compound, BurgerSwap, Curve Finance, 1inch Exchange and Pancake Swap.
Popular Centralised Exchanges
According to the trading volume, traffic and liquidity, the following are the most popular centralised exchanges: Binance, Huobi Global, COinbase, Kraken, Bithumb, Bitfinex, Bitstamp, KuCoin, FTX and bitFlyer.