If a crypto website (P2P) that don't require KYC, Why there's third party payment method?

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m4gistr4te

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I've seen a non-kyc crypto exchange website offering a currency to buy without complying any verification at all. If that's the case, then why fiat third-party payment method required? like CashApp, Zelle, and etc. Aren't those requires kyc too? please explain. Thanks!
 
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what legit exchange is that i may ask? because from i know they do require kyc the very first time especially if buying is being done via card.
 
m4gistr4te said:
I've seen a non-kyc crypto exchange website offering a currency to buy without complying any verification at all. If that's the case, then why fiat third-party payment method required? like CashApp, Zelle, and etc. Aren't those requires kyc too? please explain. Thanks!
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That's because they are more organised
Operating with a license a and have some funds saved up for emergency as the government requires
 
m4gistr4te said:
I've seen a non-kyc crypto exchange website offering a currency to buy without complying any verification at all. If that's the case, then why fiat third-party payment method required? like CashApp, Zelle, and etc. Aren't those requires kyc too? please explain. Thanks!
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That makes no sense

Looks like they outsourced their KYC to the payment layer
 
m4gistr4te said:
I've seen a non-kyc crypto exchange website offering a currency to buy without complying any verification at all. If that's the case, then why fiat third-party payment method required? like CashApp, Zelle, and etc. Aren't those requires kyc too? please explain. Thanks!
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Well, you have answered your own question.

If you pay via fiat using some sort of card or money app , you are traceable, they probably skimp on some aml regulations and will eventually get fined for it, or lose processors, but the no kyc label is a massive bs marketing lie in this case.

No kyc means you send cash they send crypto to a wallet of your choice. Or you give cash to a person or a car or whatever and you receive crypto to YOUR wallet, not a wallet on any exchange
 
m4gistr4te said:
I've seen a non-kyc crypto exchange website offering a currency to buy without complying any verification at all. If that's the case, then why fiat third-party payment method required? like CashApp, Zelle, and etc. Aren't those requires kyc too? please explain. Thanks!
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Just be careful it sounds very sketch.
 
The platform itself doesn’t require KYC, but if you’re sending fiat you’re obviously bound to the terms of the payment option that you’re using. There’s even p2p traders out there doing cash by mail or whatever nonkyc option but it’s just slower than conventional methods.
 
This reduces regulatory burden and handling fiat directly.
 
Khawar2003 said:
what is kyc? some kind of online key or something?
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Know your customer. Basically it identifies you as a person in order to disrupt financial laundering. All crypto exchanges require it and it is basically your identity card or driver's license , plus a photo and credentials that verify your address.
 
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