<p>Poloniex, the cryptocurrency exchange that recently spun off from its parent firm Circle, has introduced a new "level 1" account tier that has no KYC (know-your-customer) requirements.</p> <p>The <a href="https://medium.com/poloniex/a-new-account-tier-is-here-bebb4a8919e0">level 1 account</a> tier allows new users to withdraw up to $10,000 per day, using only a verified email address and password. The account also allows “unlimited” deposits and spot trading.</p> <p>Poloniex said the move has been taken based on customer feedback. <a href="https://www.binance.com/en/support/articles/115003670492">Binance also allows</a> withdrawals of up to 2 bitcoins (currently worth ~$15,000) with no KYC. OKEx also had a similar feature, but it recently <a href="https://news.bitcoin.com/crypto-exchange-okex-introduces-stricter-kyc-rules/">banned</a> unverified users from withdrawing funds due to China’s crackdown on the crypto sector.</p> <p>Poloniex further said that users of level 1 account can also participate in other services, such as staking. The exchange will also begin unfreezing and upgrading existing unverified accounts to level 1.</p> <p>Poloniex currently doesn’t serve U.S. customers - a move it took when it <a href="https://www.theblockcrypto.com/post/43794/circle-spinning-out-poloniex-plans-to-invest-100m-and-not-serve-us-clients">spun out</a> of Circle in October. Poloniex has also seen a <a href="https://www.theblockcrypto.com/linked/48254/poloniex-sees-slight-bump-in-market-share-under-new-stewardship-research-shows">rebound</a> in its market share since the spin-out, hitting above 2% market share on certain days for the first time in several months. It remains to be seen whether the exchange can sustain the rebound.</p>