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How to Buy BNB Without KYC?
In general, KYC is a necessary regulatory requirement if you try to purchase crypto from mainstream CEX(centralized exchange). So, is there any possibility of buying crypto, such as BNB, without KYC? The answer is "Yes", and this article will show you the way how to buy BNB Without KYC.
What Is KYC?
KYC means "Know Your Customer", the purpose of KYC is for Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT), and the general procedure is to collect customers' information. It happens while opening an account on CEX(centralized exchange). While completing KYC, you will be asked to provide:
- Driving license
- ID card issued by government
- Credit card bill/ electricity bill(optional)
For most of the CEX, accounts are limited in their function before KYC, if you want to buy or sell crypto, then you should finish the KYC procedure.
How to Buy BNB without KYC?
For some reason, some may want to buy BNB without KYC, then we suggest you buy BNB from DEX(decentralized exchange), KYC is not necessarily for most of the DEX. So if you want to buy BNB without KYC, you may follow the steps below:
- Step 1: Buy BTC or ETH from the OTC platform( localbitcoins.com, paxful.com, localcoinswap.com, agoradesk.com, LocalCryptos, etc.), many OTC platforms don't need to do the KYC process, you can purchase ETH from individuals.
- Step 2: Swap BTC or ETH to BNB on DEX, non-KYC CEX.
Step1: Buy ETH from the OTC platform, the procedures are as follows(takeLocalCryptos, for example) :
- Create an account on the OTC platform
- Click "Browse", and choose Bitcoin(BTC) or Ethereum (ETH), find a seller, and click "Buy"
- Choose the payment and click "Open order ", some sellers support bank transfer, then you can transfer fiat to sellers' bank accounts and provide your crypto wallet address. However, some sellers only support cash, then you have to buy face to face.
Step2: Swap BTC or ETH to BNB, some non-KYC CEX such as FTX supports BTC-BNB trading pair. You can deposit your BTC or ETH to these platforms and swap. By the way, you may confirm with customer support first whether they need KYC or not, because the policy is always changed by the platform. If you get a small amount of BNB(enough to pay the gas fee), then you can use Pancakeswap to swap a large amount of BNB without KYC.
- Create an account on the non-KYC CEX.
- Deposit your BTC or ETH.
- Buy BNB with your BTC or ETH.
- If you have a small amount of BNB, choose Pancakeswap to swap your BTC or ETH to BNB.