The best crypto exchange without KYC verification in the UK
By Yuriy Bishko Updated November 21, 2022
- What are crypto futures and leverage?
- The best crypto exchange without KYC in the UK
- How to transfer money to the crypto exchange without KYC verification?
- How to transfer money to a crypto exchange using debit/credit card: Wise, P2P, fiat deposit?
Futures are a trading tool that allows you to open trades with more capital than you have. For example, you have £2000 and want to open a deal for £20000 and earn more. For this, you can take leverage x10, which means a tenfold increase in capital. This is possible thanks to futures.
Leverage is a loan that an exchange makes to traders. You can borrow from the exchange stablecoins, and BTC, and altcoins as well. More about this in the article about types of futures: Coin-M та USDT-M.
In this article, I will show you the easiest and most convenient way to trade crypto and futures in 2 actions, and also you will be able to get some insights for successful trading, so read to the end.
How to trade crypto futures in the UK?
First of all, you need to choose the right crypto exchange that allows futures trading in UK. ByBit is among the top 4 exchanges for futures trading according to the famous crypto rating by CoinMarketCap.
Advantages of crypto futures trading at ByBit:
1. Low fees on the exchange when trading. This is especially important for scalping, since in this style of trading you need to open trades frequently and pay exchange fees. Fees become much lower if scalpers use futures.
2. Trading cryptocurrency without slippage. Slippage is a phenomenon in trading when the exchange opens a trade several or even tens percent above or below the desired opening price. For example, you wanted to buy Bitcoin for £20,000, but the exchange filled the order for £20,100 and you pay additional £100. This is slippage.
3. Crypto exchanges provide leverage up to 125x, which helps traders increase your trading account by 125 times and make more profit.
4. Simple and clear interface that is easy to use. Recommended for beginners.
Quick instructions on how to register at a crypto exchange. Start to trade crypto futures
Step 1. Register at the ByBit and download it if you want to install app on your phone.
WATCH NOW: How to Trade Crypto Futures in the UK - Best Exchange without KYC Verification
Step 2. During registration you will see such a window, choose the No button.
Step 3. All the opportunities of the exchange and the actual trading of cryptocurrency futures are open to you. Now you need to deposit some money to start trade futures.
You have two methods on how to transfer money to a cryptocurrency exchange:
1. without KYC verification and use bank card. Without KYC verification, your finance can remain "invisible" to the exchange, but you can make a profit from trading like all other traders, even with KYC. I think this is the big advantage of ByBit exchange.
2. with KYC verification and use Wise, P2P trading or Fiat Deposit. This number of services makes it easy to make deposits and withdrawals from the cryptocurrency exchange.
In the next 2 chapters I will explain how to do it in both ways.
How to transfer money to the crypto exchange without KYC verification?
Here is the step-by-step instruction:
Step 1. Open ByBit app or internet page and click "Buy Crypto". Choose the "Express" payment method.
Step 2. Now select "Credit Card" and enter the amount of money you want to transfer to the exchange. Click "Add Card".
Step 3. Enter your email and press "Continue".
Step 4. Enter the details of the bank card from which you want to make the transfer. Now press "Verify & Submit" and confirm this payment in your bank account.
That's it! After transferring the money to the crypto exchange, you can buy and sell crypto, open trades using futures. By the way, if you are just starting to trade I recommend you to watch my FREE one hour course: How To Make $200 a Day Trading Crypto.
How to transfer money to a crypto exchange using debit/credit card: Wise, P2P, fiat deposit?
If you want to use these methods, you first need to complete a KYC verification on the ByBit. It only takes a few steps:
Step 1. Click your profile icon and choose "Identity Verification".
Step 2. Choose the Level 1 and press "Upgrade".
After uploading your ID and taking a selfie you can use the all benefits of ByBit and have the best P2P exchange rate and almost no daily transfer limits.
How to deposit money into a cryptocurrency exchange using Wise?
Step 1. Sign up for Wise. It's a convenient way to deposit money on a crypto exchange.
Step 2. Now you can transfer GBP or 50+ other currencies to your Wise wallet.
Step 3. Now top up your wallet using several methods and with NO FEES.
Step 4. Open ByBit and click "Buy Crypto". Choose the "Express" payment method.
Step 5. Enter the amount of money you want to transfer and click "Next". You now have one more method of payment after the KYC check. Click "Trasnferwise" and make the transfer from Wise using the payment details provided by the exchange. That's it!
In order if you want to use P2P to transfer money to ByBit, you need to press "P2P Trading" in a payment methods or scroll down the screen in the Home menu and press "P2P Platform". Then choose a WISE seller who best suits your needs and buy the pound at the best possible rate.
How to deposit money into a cryptocurrency exchange using Fiat Deposit by ByBit?
Fiat deposit is allow you to transfer your money directly from your deposit/credit cars. As you remember, this method is available to verified users only.
Step 1. Click "Buy Crypto" and choose "Fiat Deposit".
Step 2. Enter the amount of money you want to deposit to exchange and click "Continue".
After you enter the payment details and complete the transfer, the money will be available in your ByBit account.
Not many exchanges in the UK offer the ability to trade futures. I use ByBit not only because of this, but also because of its obvious advantages: no KYC, low commissions, easy of money transfer from/to exchange and ease of use even for beginners.