No KYC means that a cryptocurrency exchange or platform does not require users to undergo a Know Your Customer verification process. This verification process typically involves submitting personal information such as identification documents and proof of address.
Without KYC, users can trade and transact on a platform without revealing their identity. This can be appealing to individuals who value privacy and anonymity in their cryptocurrency transactions. However, it also introduces risks such as potential for fraudulent activities and money laundering.
Some platforms operate without KYC to attract users who prioritize privacy, while others may find it necessary to adhere to regulations in certain jurisdictions. It is important for users to weigh the pros and cons of using a platform without KYC and understand the potential risks involved.
