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.