Nowadays the big exchanges are thinking more and more, KYC, this is "know your customer", which is basically asking for your state identity, either the driver's license or the identity card.

This is a problem or at least something undesirable as governments are creating too many problems for this type of asset because they fear, rightly, that the scam of the fiat money system will collapse.

Exchanging cryptocurrencies anonymously is very simple, you just have to use your ethereum wallet and connect to Uniswap, 1inch, Kyber or any other Dapp that acts as an exchange thanks to smart contracts. The same goes for Solana, you can exchange tokens on decentralized exchanges such as Raydium or Bonfida among many others. And the same with Avax, Binance and all the smart chains.

At most they will be able to obtain your IP, but also we can always connect through TOR and thus be totally anonymous since Dapps do not need ID permissions or records of any kind.

But what happens when we want to do a cryptocurrency exchange? That is, we cannot in our ethereum wallet exchange in Uniswap or any Dapp, tether, usdc or dai or ether for bitcoin, binance, monero, zcash or solana to name a few examples.

Since decentralized exchanges can only exchange tokens within the same blockchain.

 Solution

Well, for this there are centralized services that act as bridges between blockchains. An example of this is the following:

https://sideshift.ai

SideShift is a website that helps us in this task since we can exchange our cryptocurrencies anonymously. Its operation is very simple, I will explain it through the following example: we want to exchange some ethereum for the cryptocurrency sol de solana.

Then the web will ask us for a solana purse. We give it our wallet, now the web will ask us for the amount of ethereum that we want to use to buy, once we put it it will put the exchange rate, that is, the sun that we are going to receive for the ether and finally it will show us an address from ethereum. We send just the agreed amount of ether and as soon as it arrives, the sun is sent to our wallet that we gave it previously,

I have to say that the price ratio has surprised me, for example I have tried it by changing a solana token, specifically usdc (yes, usdc is also available in the solana blockchain, natively) for bitcoin, and the commission It was only $ 3, which is surprising, since exchange houses, banks and many other places charge you much more and without giving you this special service.

Obviously, to do trading or frequent exchanges, the appropriate thing is a Binance-type exchange or a decentralized exchange in ethereum using polygon or some layer that reduces gas or using a blockchain with cheap gas as is the case of Solana and its exchanges such as Raydium or Bonfida.

In addition, my Bitcoin was sent me with another transaction for other user, this is made for increase anonimity.

I hope you find this article useful and as always do your own research, because the world of investments always has its risks and that of cryptocurrencies is no exception.