In this article, I will tell you about some decentralized exchanges that will allow you to trade without KYC. These are advisable solutions for a number of reasons:
-Lack of KYC and more privacy precisely
-Greater security than centralized exchanges (Binance, Kraken, Coinbase, etc)
-Possible airdrop (they are platforms without their own token. Is it worth risking $100? I would say yes. Jitosol gave away an airdrop of almost 15k, simply by staking 1 Sol for 3 months. Airdrop season is coming!)
If you are a trader and use DeFi, they are also fundamental solutions for receiving the free token of these exchanges. I don't consider myself a big trader. I prefer holding, farming in DeFi and hunting for Airdrops however I am using these solutions creating volumes because I am quite certain that the airdrop will arrive. The airdrop from DyDx (another decentralized exchange) was huge, with some addresses receiving several hundred thousand dollars. It is very likely that these protocols will also launch their token so I am making small trades. Remember to be careful if you decide to use leverage.
How to withdraw on chain?
1) Download Metamask (Arbitrum, Optimism, Ethereum) or Phantom (Solana)
2) If you already have your USDC/USDT on your wallets, just deposit on the platforms by following the links and guides below
3) If you don't have liquidity in your wallets, you can withdraw from Binance (or other exchanges) directly on the chain you intend to use for trading i.e. Arbitrum, Optimism and Ethereum mainnet (you will have to withdraw Eth and then with a part of this you can buy Usdc on Odos.xyz to deposit and trade on the platforms mentioned below) or on Solana (in this case withdraw Sol and then on jup.agg you can sell a part of Sol for Usdc which then deposit on decentralized exchanges for trading)
If you want to switch from one chain to another: Best Bridges For DeFI Transfers: EVM, Solana, Aptos, Sui, Cosmos
HYPERLIQUID (ARBITRUM)
Interface is very simple and similar to all decentralized exchanges. Basically things don't change on Hyperliquid. At the top right, read "deposit" and you will be able to deposit your Usdc. If you want to withdraw, just tap on "withdraw" at the bottom right. You can use leverage up to 40x ("Long" if you think the market will go up or "Short" if you think the market will go down). In "vault" you can provide liquidity in Usdc and you will be exposed to the gains/losses of traders on the platform (you make money when most traders lose money, you go to loss when most make money). By making trades, you will accumulate volume for possibile airdrop season2.
If you want to use another decentralized exchange in pursuit of Arbitrum's second airdrop, you can use this guide: How GMX Works On Arbitrum: Here's Why You Should Use It!
Other DeFi exchange tokenless (Airdrop are coming very soon!):
- Hibachi
- On Polynomial there are two situations that generate points: 1) making trades 2) stake-deposit (you can choose 1 of the 2 or both): Polynomial Trade (Optimism), Polynomial Stake (Invite1) or Polynomial Stake (Invite2)
- Paradex (Arbitrum) , Paradex (Whitelist)
- Perennial Finance (Arbitrum) (ref code: discountfee )
You can also use Vooi which is an aggregator that allows you to farm Vooi+Kiloex+OpBnb or/and Vooi+Orderly Network or/and Vooi+Synfuture+Blast. I recommend you to make direct trades also on Kiloex, however Vooi allows you to farm in addition to its token, also the others mentioned above with those combinations.
DRIFT (SOLANA): UPDATE-AIRDROP ALREADY HAPPENED!
In this case we move to Drift (Solana) so you will need to have at least a few dollars of Sol in your Phantom wallet to pay the fees. Also in this case at the top right you read "deposit/withdraw" (you can deposit many assets). In addition to trading Perpetuals, you can also buy Spot. Furthermore, the platform has liquidity pools where it is possible to make an income from your cryptocurrencies.
DYOR obviously.
Are you interested in ways to earn crypto bonus? Check it out here: Some Sites To Earn Crypto Bonus (Old & New)
