Non-KYC crypto exchanges offer users the ability to buy, sell, and trade cryptos without undergoing identity verification processes. This unique feature has made them particularly appealing to individuals who prioritize their privacy and seek to maintain anonymity in their crypto transactions.
Here’s our top selection of crypto exchanges without KYC that will help preserve your anonymity when trading cryptocurrency.
- What is KYC?
- What are the best no-KYC crypto exchanges?
- 1. Margex
- 2. BYDFi
- 3. CoinEx
- 4. Kraken
- 5. Changelly
- 6. Apex
- 7. MEXC
- 8. Kucoin
- 9. Gate.IO
- 10. dYdX
- 11. ChangeNOW
- 12. Bisq
- 13. BingX
- 14. Bitfinex
- Why use a non-KYC crypto exchange?
- Is there a way to buy crypto without KYC?
- What’s the best no-KYC crypto exchange for you?
- Frequently asked questions
What is KYC?
KYC stands for Know Your Customer. It is a process performed by financial services that handle fiat payments from their customers.
Crypto businesses, known as VASPs (Virtual Asset Service Providers), have to verify the identities of their clients during the onboarding process or occasional transactions. This is done as part of the due diligence process and to ensure compliance with regulations, particularly anti-money laundering (AML) regulations.
During onboarding, clients must provide certain minimum information, including their full name, residential address, and date of birth. The platform then compares this information to the government-issued documents submitted by the client. Depending on the jurisdiction, the platform may also request additional personal data such as place of birth, nationality, tax code, wallet addresses, and transaction hashes.
Many crypto services rely on specialized third-party solutions to conduct the KYC process. While KYC is a great tool to help money laundering, it also affects everyday users who wish to preserve their anonymity.
This Chainalysis crime report demonstrates the scale of the problem of criminality in crypto — the other side of the coin when it comes to KYC.
This report acts overall as a resource to support the creation of future regulations. It also notes the importance of users being aware of ill-intended actors: “.. Sanctions against decentralized services act more as a tool to disincentivize the service’s use rather than cut off usage completely”.
Can’t bypass the KYC verification? If privacy is your main concern, you can also use a crypto mixer to regain privacy for your crypto funds.
What are the best no-KYC crypto exchanges?
Margex is as a cryptocurrency trading platform. Operating from its base in Seychelles, the platform boasts several notable attributes. Specifically, it stands out with an impressive average execution time of just 8 milliseconds.
Furthermore, it maintains a substantial order book, aggregating a total worth exceeding $40,000,000, sourced from a network comprising over 12 liquidity providers. Equally remarkable is its capacity to handle up to 100,000 transactions per second (tps).
- Mobile support
- Low fees
- Fast execution
- Multiple order types
- Low minimum deposit
- Restrictions based on regions
- No native fiat support
BYDFi is a Singapore-based exchange that operates in over 150 countries, offering its trading services to a global user base. While this is a no-KYC crypto exchange, the platform offers fiat deposits through third parties, which require KYC on that respective platform (Banxa, XanPool, Transak, Ramp, Paxful, Coinify and Mercuryo).
Note that the KYC process on the BYDFi platform is only required for deposits through Indonesian, Vietnamese, or Thai fiat channels. Also, these users must complete 20% of the transaction deposit amount on Lite Contracts or perpetual contracts before withdrawing.
- Crypto margin trading accounts available
- Competitive fees for trading
- More than 50 fiat currencies are accepted
- No crypto staking feature offered
- Absence of phone customer support
- No advanced trading features
CoinEx is a centralized exchange (CEX) that has a host of products. Alongside its trading platform, the platform offers a spectrum of services, encompassing a mining pool, cryptocurrency wallet, proprietary blockchain, and an ecosystem-focused investment platform.
Utilizing an internally developed proprietary trading engine, the platform boasts a user-centric approach, capable of efficiently managing up to 10,000 transactions per second (TPS). Founded in 2017, CoinEx stands as a CEX located in Hong Kong, but serves a global class of customers.
- Proof of reserves
- Multiple products, including Futures and Earn features for idle assets
- 10,000 transactions per second
- Not available in U.S.
- Payouts in native CET token
Kraken is a worldwide crypto exchange that offers four levels of user verification: Starter, Express, Intermediate, and Pro. You can use Kraken as a no KYC crypto exchange if you stick to the Starter verification level, which only requires your email, name, date of birth, phone number and physical address. No other documents are needed, such as ID, proof of address or a selfie.
For the Starter verification level, which can be considered a no-KYC level, your account will be allowed to withdraw up to $5,000 in crypto in a 24-hour window. The deposits are unlimited for the Starter level.
However, it’s important to note that depending on your country of residence, certain restrictions may apply regardless of the verification level. These restrictions could impact your ability to deposit or withdraw cryptocurrency or cash.
- A wide range of digital assets
- Low fees for Pro users
- Limited funding options
- Starter level can’t use credit/debit card for funding
- Not available in all U.S. states
Changelly is a fantastic instant exchange platform that offers quick and secure cryptocurrency transactions without requiring the complicated KYC verification process. With Changelly, you can easily exchange one cryptocurrency for another in just a few simple steps. Within 30 minutes or even less, you’ll have your new crypto safely stored in your wallet.
What’s great about Changelly is that they prioritize the security of your funds. They don’t store your money, ensuring that your assets remain protected. On this platform, you have the flexibility to trade over 400 different cryptocurrencies at fixed or floating rates. Additionally, you can even purchase cryptocurrencies using more than 90 fiat currencies.
- User-friendly interface
- No hidden fees
- Offers both fixed and floating rates
- No built-in wallet
- Depending on the specific crypto you’re purchasing, they have different partners, which may ask for a KYC verification
Apex is a great option for a no-KYC crypto exchange because it is a non-custodial trading platform with limitless cross-margined perpetual contracts
The platform uses the order book model, combining the security and transparency of decentralized exchanges (DEX) with the speed and usability of centralized exchanges (CEX).
Apex has low fees and great leverage and offers instant settlement for amplified earnings and optimized trade sizes. It aims to become the bridge between order book trading and permissionless trading.
- ApeX Pro DEX offers low maker and taker fees of 0.02% and 0.05%, respectively, with zero network charges.
- Users have the potential to earn rewards through staking, referrals, trade-to-earn incentives, and more.
- There are no minimum investment requirements, no KYC (Know Your Customer) or signup requirements. The user interface is designed to be user-friendly, taking inspiration from Bybit.
- The ApeX Pro DEX is a non-custodial platform developed and backed by Bybit
- Limited trading pairs compared to other platforms
- The platform is not available for traders in the United States
- Lower leverage than competitors
- Withdrawals from ApeX Pro DEX can take up to found hours for slow withdrawals with a $1 fee over layer-2 (L2), while fast withdrawals incur a $5 fee
MEXC offers a wide range of unique trading products and crypto financial services, with over 2600 coins, which surpasses many other centralized exchanges.
Traders have the option to trade on spot, margin, and ETF markets, including the ability to take 3X long and short positions on various coins. The platform has a native token MX, and holders have multiple benefits, including fee reductions, project voting, lottery bonuses, and more.
MEXC also offers a user-friendly mobile app, which is available for both iPhone and Android devices.
- Yield earning opportunities
- Extensive selection of coins and trading pairs
- Derivative instruments
- Advanced charting and trading tools for in-depth analysis and strategy development.
- The wide range of offerings may make the platform complex to navigate and understand for some users.
- Smaller liquidity compared to competitors due to the absence of partnerships.
- The founding team and executives don't have a very interactive presence.
- Flat fee schedule may not be as flexible or tailored to specific trading needs.
KuCoin is a popular cryptocurrency exchange. It provides a wide selection of cryptocurrencies for investors to trade. One notable feature is its native token, KCS, which not only helps reduce fees but also allows users to earn rewards.
What sets KuCoin apart is its optional account verification process. This means that people can start trading cryptocurrencies with just an email address without the need for extensive personal information. However, it’s important to note that users without KYC verification have daily withdrawal limits in place (1 BTC per 24 hours).
Additionally, holding KuCoin’s native coin, KCS, provides an added benefit of a 20% discount on trading fees.
- Low trading fees, making it more affordable for trading activities.
- Large user base and active community.
- Supports trading of a huge variety of cryptocurrencies
- Offers a wide range of derivatives, providing additional trading opportunities for users.
- Lacks a U.S. operating license
- Website usability may be challenging
- Difficulty in purchasing unpopular assets
- History of security breaches in 2020 and 2023
With over 1,700 cryptocurrencies available for trading, Gate.io stands out for its vast selection, including top market cap coins and less common tokens that are difficult to find on other exchanges.
The platform supports approximately 50 fiat currencies, and provides a feature-rich trading experience while it maintains reasonable trading fees, with the highest fee capped at 0.2%. Customers can also explore options to reduce fees further, such as utilizing Gate.io’s utility token.
Gate.io operates in over 200 countries, catering to a wide range of users worldwide. However, certain advanced features may not be available in specific countries, including the United States.
- Wide variety of cryptocurrencies available for trading.
- Accepts approximately 50 fiat currencies for easy trading.
- Offers advanced trading features for experienced users.
- Trading fees are reasonable.
- Uncertain regulatory status in some U.S. states
- Not so user-friendly interface
- High deposit fees may deter some users.
dYdX is a decentralized exchange built on the Ethereum blockchain, enabling users to trade ERC-20 tokens and ETH through smart contracts. It prioritizes user privacy by operating as a non-KYC exchange, ensuring that personal information is not required.
The platform boasts high liquidity, thanks to its utilization of margin trading. However, it’s important to note the potential risk of liquidation associated with margin trading. To access dYdX, users must possess an Ethereum compatible wallet. Furthermore, it’s worth mentioning that the exchange offers a limited selection of trading pairs.
- Offers low fees, particularly beneficial for average users
- Utilizes Zk-rollups technology, enhancing scalability and efficiency
- Opportunity to earn interest through lending activities
- Limited number of assets available for swaps
- Interest rates offered may vary, depending on your trading volume.
- Fiat deposits are available through third party which require KYC
ChangeNOW is a versatile and user-friendly platform that offers convenience and security. With partnerships with major crypto industry players, it provides access to nearly 400 cryptocurrencies and 70,000 trading pairs.
Unlike other platforms, ChangeNOW has no upper trading limits, making it appealing for large cryptocurrency swaps. It also prioritizes user privacy by not requiring personal information for access. ChangeNOW consistently adds new assets, including those participating in DeFi ecosystems. As a non-custodial service, it ensures users have full control over their assets, and it supports nearly 60 fiat currencies for added flexibility in trading.
- It's an easy-to-use, non-custodial service
- No hidden fees.
- It supports a wide range of assets, including NFTs
- Fiat currencies are accepted for buying crypto, but require KYC
- Not every fiat currency is available
Bisq stands out as a well-known decentralized exchange that prioritizes decentralization and user ownership. Its key perks include increased privacy, lower fees, and maintaining control over your crypto assets.
The exchange offers various payment options, allowing you to buy crypto using U.S. dollars through cash deposits, Zelle payments, or electronic transfers. With instant approval and no geographical restrictions, Bisq ensures convenient and accessible trading for all users. By eliminating the need for depositing funds, Bisq provides users with control over their assets and emphasizes security by storing personal and banking information locally on users’ computers.
- Decentralized exchange
- Flexible payment options
- Instant approval
- No geographical restrictions
- Enhanced security
- Decentralization may not suit everyone
- Basic application interface
- Potential for fraud
BingX is also a great choice as a no-KYC crypto exchange, as it offers a fully functional spot and derivative markets with a wide selection of over 250 cryptocurrencies.
You can use it to convert crypto quickly or to access the advanced trading platform with charting tools, live order books, multiple order types, and a grid trading bot.
The platform also offers a copy-trading feature that allows beginners to follow successful traders and potentially earn from their trades.
- Copy-trading feature
- Trading fees are capped at 0.2%
- Access to 24/7 live chat support for prompt assistance.
- Intuitive mobile app for convenient trading on the go.
- Lack of support for fiat currency deposits, limiting trading options to third-party purchases only.
- Limited information provided on asset cold storage and specific security measures in place.
- Crypto-to-crypto transactions restricted to USDT trading pairs
Bitfinex, established in 2012, is a well-established cryptocurrency exchange and one of the largest in terms of trading volume. It offers a wide range of cryptocurrencies, including bitcoin, ethereum, and many others.
The platform provides a user-friendly trading experience with advanced charting tools, order depth charts, and quick access to buy and sell supported currencies. Bitfinex maintains relatively low trading fees, making it cost-effective for users.
- Competitive trading fees
- Support for margin trading, derivatives, and advanced order types
- Paper trading and mobile app suitable for beginners
- History of regulatory missteps and fines
- Questionable involvement with the Tether currency
- Not available in the United States
Why use a non-KYC crypto exchange?
A non-KYC crypto exchange allows users to maintain privacy and eliminates the risk of having their personal financial information fall into the wrong hands. Also, most of these exchanges offer financial services to users worldwide. By not requiring KYC verification, these exchanges eliminate barriers for individuals who may not have access to the necessary identification documents or those who prefer to keep their financial activities private.
This inclusivity opens up opportunities for users worldwide. It includes those in countries with restrictive regulations or limited access to traditional financial services.
However, it’s important to note that while non-KYC exchanges provide certain advantages, users should also consider the potential risks involved. These exchanges may have lower security standards and increased vulnerability to illicit activities. Therefore, it is crucial for individuals to exercise caution, conduct thorough research, and implement additional security measures to safeguard their funds and personal information.
Is there a way to buy crypto without KYC?
As demonstrated in this listicle, there are ways to buy cryptocurrencies without undergoing Know Your Customer (KYC) verification. These no-KYC crypto exchanges typically operate on a peer-to-peer basis, connecting buyers and sellers directly without the need for intermediaries or centralized authorities.
Non-KYC exchanges provide a solution for individuals who prioritize privacy and want to trade cryptocurrencies without disclosing personal information. By using non-KYC exchanges, users can maintain their anonymity and keep their personal data secure.
In addition to non-KYC exchanges, there are also peer-to-peer trading platforms. These P2P platforms allow users to interact directly with other individuals to buy or sell cryptocurrencies without KYC verification. These platforms facilitate secure transactions between parties and often offer various payment options to accommodate different preferences. It’s important to note that while non-KYC options provide privacy advantages, users should still exercise caution.
What’s the best no-KYC crypto exchange for you?
From the platforms we have listed, Bisq stands out as a decentralized exchange and offers increased privacy. ChangeNOW is a versatile platform with a wide range of cryptocurrencies. Gate.io is known for its extensive selection of cryptos.
Additionally, dYdX offers a decentralized trading experience for professional traders who want to unlock features such as margin trading. For beginners and altcoin traders, the MEXC crypto exchange provides a comprehensive trading platform with advanced features and a large selection of cryptocurrencies at competitive fees. But ultimately, the best exchange for you depends on your specific requirements and preferences. Always review the terms and policies of any exchange before you register to ensure it aligns with your needs.
Frequently asked questions
What crypto exchange does not need KYC?
Can I use Binance without KYC?
What is a no KYC exchange?
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