Best way to buy HIVE crypto without KYC
Direct from the desk of Dane Williams.
The best way to buy HIVE crypto without KYC is by using ParaSwap to buy bHIVE and then bridging it across to your account.
Since both Binance and Blocktrades now requires you to submit your ID and a photo, I’ve seen a lot of people asking what is the best way to buy HIVE crypto without KYC?
Well, the answer to this question is actually simple:
Use the Paraswap DEX aggregator on BSC to buy HIVE crypto as bHIVE and then bridge it across to your account.
KYC isn’t for everyone and if your end goal is permissionless money then you are no doubt searching for a non-KYC alternative to buy HIVE.
In this quick guide, I’m going to walk you through the process step by step and ensure you don’t make any mistakes.
Let’s go.
Preface to this buying Hive crypto without KYC guide
Just to preface this guide, I’m assuming that you have a non-KYC fiat on/off ramp already set up and have funds ready to go.
Whether this is a non-KYC exchange, A p2p crypto trading service or something as simple as a Bitcoin ATM, there are numerous options at your disposal.
I’ll let you make the call on which is the right option for onramping fiat into crypto and how you bridge that to a BSC compatible coin such as BNB or BUSD.
(While not the focus of this particular guide, if you need help with bridging crypto to BSC, drop a comment and I’ll be happy to point you in the right direction.)
With that preface out of the way, you can now complete the following steps to buy Hive crypto without KYC (bHIVE) using ParaSwap.
How to buy HIVE crypto without KYC using ParaSwap
I’ve split buying HIVE crypto without KYC using ParaSwap, and then choosing what you’re going to do with your tokens, into two separate steps.
Step 1 - Buying HIVE crypto using ParaSwap
While buying bHive in this manner actually uses PancakeSwap, I recommend using the ParaSwap DEX aggregator because it routes the orders much more intelligently.
Meaning it saves you money!
Go to app.paraswap.io and ensure the BSC network is selected:
In the top drop down box, select the token you wish to swap from, while in the bottom drop down box paste the following contract address for bHIVE - 0x9faF07D1FBC130D698e227E50D1Fb72657c0A342:
Hit swap and confirm the transaction via your BSC wallet of choice:
Congratulations, you have now bought bHIVE without KYC.
Step 2 - Bridging bHIVE across to your Hive account
Now that you have bHIVE, you have two choices:
- Pool it on cubdefi.com
- Bridge it across to your Hive account.
While I recommend the bHIVE:CUB LP as one of the best ways to stack HIVE faster, this guide will focus on bridging it back to your Hive account as native HIVE to be used as normal.
Go to the the Hive to BSC bridge at wleo.io/hive-bsc:
Click the transfer them back button and input your Hive username and the amount of bHIVE you wish to transfer:
Once again confirm the transaction via your BSC wallet of choice:
That’s it.
You have now successfully bridged the bHIVE you bought across to native HIVE and it will be sitting in your account to be used as you see fit!
Video walkthrough
Shoutout to @alex-rourke for an excellent video walkthrough version of this guide to buying HIVE crypto without KYC:
It's super professional and easy to follow, so I had to come back and embed it into this post.
Definitely worth the watch if you're still a little stuck on the exact process.
Why do exchanges require KYC to buy HIVE crypto?
Just some final thoughts before I wrap up this guide to buying HIVE crypto without KYC.
Even though they deal in crypto, exchanges are actually nothing more than regular businesses that must follow the rules and regulations of their specific jurisdiction.
For exchanges in major western jurisdictions like the US, Europe and Australia, this unfortunately means that in order to maintain a licence, they must ensure all clients complete KYC before trading.
The funny thing is that in today’s globalised world, all this does is push users offshore to unregulated exchanges.
Or in the case of HIVE, to DEXs on chains like BSC.
It’s like regulators aren’t actually on the side of their people at all…
Best of probabilities to you.
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Do you by any chance have any recommendations of articles for this topic?
Posted Using LeoFinance Beta
Onboarding clean cash into crypto is certainly getting harder...
You're in Germany, yeah?
Different countries all have completely different regulations that exchanges have to follow if they want to operate in the country.
I honestly have no idea about Europe and the only advice I can offer here is to Google 'no kyc exchange in xxx' and go from there.
As for non-exchange routes, do you have any Bitcoin ATMs that you can use to deposit cash?
Wear a hood and cover your face as you walk to the shops 😂.
Or p2p Bitcoin trading?
But in some countries, even the major p2p exchanges are now requiring some form of KYC to buy.
So that might be a bit of a roadblock too.
Sorry I can't offer you anything specific.
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Super helpful information. Read this from my #dailyleo.
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Happy to see my content helping the community out :)
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I would rather say buy BHBD (BSC Hive Backed Dollar) by swapping with BUSD or BNB because firstly it is having less price impact and after receiving BHBD, you can use the wleo tool to swap BHBD to HBD with a 0.25% fee to your HIVE wallet and then use market to trade HBD for HIVE.
I do not know if this is better for everyone but I think due to price impact which is around 7% on Paraswap and 9% on pancakeswap, I think using this method could be possibly cheaper if compared. I would also like to thank you for making me know of this method as well.
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Great advice that I need to update and make clear in the post itself.
Always make sure that you keep an eye on the price impact when buying bHIVE on a DEX.
Your route of using HBD and bringing it back to the internal market for a better price is a good one.
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Good guide, I will be using this.
My side gig pays me through the cash app where I've set up a weekly BTC buy. KYC here of course, I just wonder if there is a way to unkyc this BTC when sending it off cash app?
Theoretically
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You could use Monero to get clean Bitcoin.
Of course the tax man will still know that you had x amount of BTC at one stage from the original KYCd address.
But the trail will stop and he won't be able to see how much you have now.
Good luck explaining where it went.
Theoretically.
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#interesting
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Nice one!
Btw if you used Paraswap at least 5 times in the past and didn't get the first airdrop they will give you some free money soon.
https://twitter.com/paraswap/status/1584541980511547392?s=20&t=DHihNV4dx_n0M6kTdsIS_A
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Oh thanks for sharing this.
I'm still burning that I never got the free UniSwap airdrop because I hadn't discovered DeFi yet.
Finally my time to shine! 😂
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Glad to be of service. But do be sure to go through the eligibility requirements. This is a re-airdrop from last year when they fucked up and only rewarded users with high-volume transactions. This is their way of saying "sorry we fucked up".
I use CoinEx.com to buy non-KYC and then send to Hive.
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Does CoinEx work as a non-KYC on-ramp for all countries?
There have been a few questions about this in the comments so I'm interested to hear about your experience.
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That I do not know. I used it from my home in Guatemala and only to receive crypto. You might need KYC for purchases from a credit/debit card.
I needed this about a week ago. I eventually ended up using paraswap, but not before I made a bunch of other moves too that cost me a bit of money. So annoying! I will have to keep this in mind for next time!
Until last week, I didn't realise how dependent the community is on Binance to buy HIVE.
Having a presence on DEXs via bHIVE and pHIVE is a godsend.
Thanks LeoFinance 😉.
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No doubt! I'm in the US so Binance isn't really an option but Mandala is. Doesn't help if the wallets are down though. You are going to laugh, but this is the path I took. Bought BTC on Coinbase, traded it to BUSD. Sent BUSD to metamask but didn't realize it was going to send it to my eth account. Bridged the BUSD over to BSC then used paraswap to get it to bhive and then bridged it over to hive. Lost about $30 in fees and slippage.
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I have been trying to do use Bhive and Phive for some time and lately took a loot at it. Yeah, I must admit it is a very nice way to obtain HIVE from DEX. At a critical times such as this where deposit and withdrawals is at halt in CEX, it does gives a nice opportunity to grab some HIVE from this sink
But honestly we need more liquidity in these pools. The price impact gets little big when you plan to swap a big amount. In small transaction it might not matter a lot but in big amounts even a small percentage can have a big impact while swapping. So far I must admit a job well done by Khal! If I ever in need of HIVE in certain situation I would definitely give a try in here. For now Gate.io is covering my needs!
And yeah not to forget if I purchase in my ghost account to try to be anonymous, I would use this sort of services as well ;)
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Yeah, thanks for bringing up the price impact.
It's definitely something that people need to keep an eye on when buying HIVE via a DEX.
All we can do is keep encouraging the rest of the Hive community to add liquidity to the bHIVE pools on Cub Finance.
Not only are they incentivised by earning CUB at great APRs, but they are also helping Hive overall by allowing people to trade large volumes via a DEX.
Extremely important for everyone here!
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In the recent turn of event where we cant do trades in CEX, the value of DEX is ultimately understood. Yeah, I wish to see bHive or other coins to have more liquidity in the coming days! Cheers to that!
I was really bummed when I saw that Blocktrades is requiring all users to submit ID now. Times they are a-changing, and not in a good way. I already had to submit ID to them for one account because I accidentally tried to transfer too much one time. Then I never used that account again. haha.
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US regulators are most definitely NOT on the side of their people.
Compared to the rest of the world, you have extremely limited choices when it comes to trading crypto.
DEXs are a godsend for you.
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I have noticed this! I feel like at some point, I may end up needing to move to another country. We'll see how it plays out.
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Wow this is is really informative...thanks for sharing..
Do you have a story where you couldn't buy HIVE without KYC?
I'd love to hear it if you do.
Posted Using LeoFinance Beta
That's helpful info. It also bothered me when I saw personal documents needed to buy Hive.
Do you have an easy route to deposit fiat without KYC?
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I have no idea. I usually convert between crypto.
Nice one here, another valid information being passed across here
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Which piece of information did you find the most valid?
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@regenerette this one is for you.
@regenerette, you've been trying to buy HIVE without KYC?
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I want to bring FIAT but without directly investing in crypto, per se maybe swap some gift cards which hivelist doesn’t allow as I asked in discord pitty I will see
https://twitter.com/3979726700/status/1584815534532857856
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Thank you for sharing this option. To be honest, when I got into crypto, there is no other option for me but to provide some sort of ID to a regulated CEX. This article of yours will prove its usefulness in the future when I will need it.
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Hey! thanks for the mention! the guide you made is super detailed. All I had to do was follow the steps.
I hope we can encourage more folks to explore different, more decentralized, and more private options as opposed to relying on one way of doing things. This is the power of blockchain.
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