Most crypto exchanges ask for so much private information that you wonder whether they are worth the risk. KYC procedures waste time when all you want is a simple swap. It doesn’t have to be that way, though.
This piece takes you through three platforms that let you anonymously convert BTC to XMR or any other crypto while offering other vital advantages.
Godex (https://godex.io/) is one of the few trusted cryptocurrency exchanges that support fully anonymous swaps. The platform doesn’t ask for any personal information. You don’t even have to create an account. All you need to exchange crypto successfully is your wallet.
Additionally, Godex maintains a high level of transparency, a user-friendly interface, and an extensive portfolio of coins.
Transparent Exchange Rates
You will find Godex extremely transparent with its exchange rates. It is also free of the hidden charges that most exchanges seem unable to resist. The platform even provides fixed exchange rates, shielding you from the fast-paced volatility of the crypto market.
Another of Godex’s most significant selling points is its straightforward and intuitive user interface that lets you trade in a few clicks. You are greeted by fields to enter the BTC value you want to swap, and it instantly shows how much XMR you would get.
Next, you enter a wallet address, and that’s about it. The system also clearly indicates the status of your transaction, and the process concludes in mere minutes.
Wide Range of Supported Cryptocurrencies
Godex lets you exchange between over 300 cryptocurrencies and counting. You also get helpful market data for each coin, including market cap, price history, trade volume, and recent changes in one hour, 24 hours, and 7 days.
Formerly Bitsquare, Bisq is a decentralized exchange that lets you trade your cryptocurrency peer-to-peer without a go-between. The platform does not require KYC, so you only need a wallet address. It also features reasonable security measures, and the funds are user-controlled.
Bisq is so decentralized that it has servers scattered worldwide and no headquarters in a single country. With no third parties coordinating your exchange, Bisq lets you trade directly with other cryptocurrency holders. Anyone on the platform can make trades for a small BTC fee.
The decentralized nature of Bisq enhances its security because there is no single point of attack in the network. Moreover, Bisq doesn’t ask for personal data, and since no information is stored in a single server, our personal records and crypto assets are difficult to hack.
Bisq is less of a brokerage service and more of a marketplace where you maintain sovereignty over your funds and trade directly with other users. However, the platform’s nature makes settling disputes a bit difficult. There is no central authority to contact when things go wrong.
SimpleSwap is a crypto trading platform that gives you access to several other exchanges, all under one roof. It features an easy exchange process with no signup or KYC complications, enabling instant trades. The platform also provides fixed rates and 24/7 customer support.
Fixed Exchange Rates
You get fixed and floating exchange rate options with SimpleSwap, much like Godex. The floating rate changes according to the market when the exchange is concluded, which means the final rate may change. On the other hand, the fixed option locks in the rate at the time you initiate your exchange.
However, SimpleSwap includes transaction fees in the name of network fees but does not readily state its fee structure.
24/7 Customer Support
SimpleSwap provides its users with 24/7 customer support via live chat. It also offers support via its mail, Twitter, and Telegram accounts. Additionally, the platform has responsive customer support with a high rating on Trustpilot.
Like the others on this list, SimpleSwap does not ask you to register, submit personal information, or go through lengthy KYC procedures. This means you can exchange your crypto instantly. All you have to do is set your trade’s terms and provide a relevant wallet address.
BTC to XMR: Why Is Anonymity Important?
Anonymity in crypto transactions enhances the security of your funds and personal data. No one will steal your information if it’s not available. It also speeds up the exchange process by eliminating lengthy KYC activities. In any case, your personal info doesn’t play any direct role in your transactions.
I’m is an owner of Venostech.com, blogger, Android and technology enthusiast. Individual who are educated in the IT and like to write according my scope.