How to Choose the Anonymous Platform to Trade Crypto?
By Space Coast Daily // September 5, 2022
Cryptocurrencies are incredibly versatile assets that allow you to exchange value online through a peer-to-peer system. However, in most cases, their decentralized ledger is entirely transparent, and your transaction data can be accessed at all times.
Since we are custodians of our crypto, privacy acts as a secondary security layer. It prevents hackers to obtain your private information and expose you to criminals. Moreover, using an anonymous exchange will not allow your financial data to be connected to your person.
Consequently, remaining anonymous when exchanging cryptocurrencies can bring a wide range of benefits. Anonymous exchanges will allow you to achieve this anonymity and keep your data private and hidden from prying eyes.
In this article, we will explore the major factors you should be scrutinizing when looking for an exchange service. We also provide an anonymous cryptocurrency exchange list that should come in handy. Let’s begin.
What You Should Pay Attention to When Choosing Crypto Exchange?
Before you start using an anonymous crypto exchange, there are some crucial factors that you need to consider:
■ Is the exchange genuinely anonymous? A single piece of information can reveal your identity to internet fraudsters. An exchange that doesn’t request any type of personal information can be truly considered anonymous. If it requires as little as your email addresses or phone numbers, your privacy can be compromised.
■ Does the exchange provide a streamlined user interface? An exchange should be easy to use and understand. All information should be easily accessible, and the user interfaces polished to the dot. Moreover, it should be able to cover a large number of cryptocurrencies to cater to everyone.
■ What level of protection does it have? Always ensure that the exchange uses the latest security updates and technologies. It shouldn’t use any type of log-in feature and rely uniquely on your crypto address for your transactions.
■ Does it have a good reputation? Check whether the exchange has a history of hacks or scams. Furthermore, make sure that the user base doesn’t have any gripes regarding withdrawals or transactions. Visit Trustpilot for an objective user opinion on the service.
All in all, making sure that the exchange is fully anonymous and safe to use should be your main priority.
Best Anonymous Cryptocurrency Exchange Review
Below is a list of anonymous exchanges that check most, if not all, the boxes on the list provided above.
Godex is an anonymous crypto exchange that allows for swapping more than 300 cryptocurrencies. It also provides the best USDT exchange rate for multiple coins. The exchange doesn’t require any type of registration and personal data.
The single information that you need to provide Godex is your wallet address where you wish to send your tokens. Moreover, there are fixed rates, which is beneficial in the highly volatile crypto market. And finally, there are no exchange limits on Godex.
ShapeShift is a decentralized exchange that supports 11 blockchains and gives access to advanced DeFi mechanisms like staking. This exchange is partnered with 3rd party solutions that allow you to buy and sell different cryptocurrencies with various levels of privacy.
It provides a decent interface for keeping track of your portfolio across multiple blockchains. However, it doesn’t allow you to make seamless cross-chain swaps like Godex.
Bitni is similar to Godex as it boasts a high level of privacy and offers a good number of cryptos (200+). The oversimplified interface might be a bit worrying for some, as there’s little to fall onto.
There are also very few user reviews to be found online, which doesn’t allow us to make a clear picture of the exchange. It’s challenging to trust a platform with your crypto if no one is using it.
Choosing an Anonymous Exchange Is a Step Towards Secure Trading
Using an anonymous exchange has its advantages. You shouldn’t compromise on security and privacy as it can be the deciding factor between keeping your coins safe or losing it all to hackers. From our list, Godex is the exchange that offers complete trading services and doesn’t lack from a privacy standpoint.