10 Best Non KYC Crypto Exchanges for 2024

Prioritizing anonymity and efficiency in the crypto market is key when buying and trading assets. This is why investors and crypto users tend to go with exchanges that let them buy crypto with no KYC or even the ones that don’t require opening an account.

In this article, we’ll delve into the top non KYC crypto exchanges, highlighting their features, advantages, and why they stand out as attractive options for those looking to trade cryptocurrencies with a greater degree of fast trading and anonymity.

Best No KYC Crypto Exchanges

The following non KYC crypto exchange platforms prioritize user privacy and enable quick account setup. Features, supported cryptos, and available countries are listed for each exchange to help users choose the best option for their needs.

No KYC Exchange Supported Cryptocurrencies KYC? Available Locations Best Non-KYC Exchange for?
Best Wallet 1000s across 50+ blockchains No N/A Multi-chain interoperability
Margex Multiple coins including BTC, ETH, Tron, and Solana, on various networks No Multiple countries and regions excluding the United States of America, the Republic of Seychelles, Bermuda, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan, and Afghanistan 100x leverage on futures and copy trading
KCEX 400 coins for spot trading and 300 for leverage trading No Multiple countries and regions, including the United States and Canada Wide range of future contracts
Blofin 365 trading pairs available No KYC for crypto spot and futures trading 194 countries and territories, excluding the United States Low trading fees
Exodus 300+ available coins No 100 countries Easy swaps and staking rewards
BingX Over 700 coins available No 100+ countries Copy trading
Changelly 500+ cryptos No 200+ countries Buying crypto with fiat
ChangeNOW Over 450 coins available No mandatory KYC for most transactions, but it is required for suspicious activities or high-value trades All countries, excluding Cuba, Iran, North Korea, Crimea, Sudan, Somalia, Myanmar (Burma), Yemen, Zimbabwe, Syria, United States Affordable fees
Switchere Over 30 cryptos Yes 160+ supported countries Fast transfers
Coinex Over 1150 No KYC for spot and futures trading 200+ countries Withdrawal limit

Detailed Reviews of the Best Non-KYC Crypto Exchanges

Our review of non KYC cryptocurrency exchanges focuses on key factors crucial for traders valuing privacy and ease of use. We’ll evaluate each platform based on:

  • Privacy features
  • Trading fees and limits
  • User interface and ease of use
  • Withdrawal options and limit
  • Additional features

This systematic approach allows us to provide a comprehensive comparison, helping users identify the most suitable non KYC exchanges for their specific needs.

1. Best Wallet

Best non KYC crypto exchange with a multi-chain wallet

  • best wallet-no kyc crypto exchange No KYC Features: Swap and trade any of the tokens within the wallet
  • Spot Trading Fees: No spot trading feature
  • Deposit Methods: Credit Card, Skrill, Neteller, Google Pay, Debit Card, Cryptocurrencies
  • Withdrawal Limit: N/A
  • Additional Features: Multi-chain support, NFT gallery, $BEST token

Best Wallet offers a unique, comprehensive ecosystem combining an anonymous, self-custody wallet with an integrated no-KYC exchange. Supporting Ethereum and BNB Chain tokens, it provides competitive pricing for meme coins and other cryptocurrencies through multiple liquidity providers. The platform stands out with its fully non-custodial approach, giving users complete control over their private keys and assets.

With low fees, instant token delivery, and a commitment to privacy, Best Wallet enables swift account creation and immediate trading without compromising on security or functionality, making it an attractive option for users seeking a safe, efficient, and anonymous crypto trading experience. This is also one of the most popular non-custodial wallets, meaning the user holds the private keys to the crypto funds stored inside. 

To complement the full crypto picture, the Best Wallet will introduce the BEST token. This utility and governance token will unlock exclusive features like market analysis tools, swaps without fees, the potential to get one of the next airdrop projects, and more. However, most of these features are in development, and it may take months before they are released. 

Pros and Cons

Pros pros

  • Multi-chain support.
  • Integrated token swap.
  • Available for Android and iOS devices.
  • BEST native token drop for active Best Wallet and Best DEX users.
  • NFT gallery and swaps.

Cons cons

  • Only available as a mobile app, while the browser extension is under development.

2. Margex

Best non KYC crypto exchange with 100x leverage

  • margex-no kyc crypto exchange No KYC Features: No KYC is required for account creation or trading
  • Spot Trading Fees: Maker fee: 0.019%, Taker fee: 0.06%
  • Deposit Methods: 152+ options, including MasterCard, Visa, Google Pay and Apple Pay
  • Withdrawal Limit: N/A
  • Additional Features: Up to 100x leverage, MP Shield System for price manipulation protection, demo accounts, copy trading, and staking options

Margex is also one of the most popular non KYC crypto exchanges
that operates without KYC requirements, appealing to traders with its robust security and user-friendly interface. It offers futures trading with up to 100x leverage, potentially amplifying profits and increasing risk. The platform caters to all skill levels, providing educational resources for market analysis. It also emphasizes security through its MP Shield System, which aims to prevent price manipulation by ensuring fair pricing and diverse liquidity sources.

Even though Margex offers crypto-only funding for no-KYC accounts, quick verification is required for fiat deposits. With a low $10 minimum for card purchases, it’s accessible to beginners. The platform features copy trading and staking options with competitive yields on popular cryptocurrencies for passive income. Fees are built into exchange rates.

Notably, Margex provides demo accounts, allowing new traders to practice risk-free while familiarizing themselves with the platform’s features, making it an ideal choice for novice and experienced traders.

Pros and Cons

Pros pros

  • Offers up to 100x leverage on futures.
  • Strong security with MP Shield System.
  • Features demo accounts and copy trading.

Cons cons

  • High leverage can also increase the risk significantly.

3. KCEX

Best non KYC crypto exchange with a wide range of future contracts

  • kcex-no kyc crypto exchange No KYC Features: No KYC required for account creation or trading
  • Spot Trading Fees: 0%
  • Deposit Methods: Only crypto
  • Withdrawal Limit: 30 BTC daily limit
  • Additional Features: Altcoin futures, airdrops, sign-up bonuses, low fees

One of the crypto exchanges that don’t require KYC is KCEX, an already established exchange focusing on advanced trading options. The platform has various futures, from leading cryptocurrencies like Bitcoin and Ethereum to low-cap altcoin futures like WIFUSDT perpetual.

The exchange has recently reduced the spot trading fees to 0% indefinitely, making it one of the lowest fee platforms on our list. However, it does not support fiat currencies or buying crypto with a card, so you’ll need to transfer crypto to the exchange to trade on it. Users can enjoy a 0% maker fee and 0.02% taker fee on all futures trading pairs.

KCEX offers an attractive package for new users, with potential rewards up to $9,800 in future bonuses for completing tasks and reaching trading volumes. The platform’s minimal KYC approach requires only an email or phone number for account creation, granting a substantial 30 BTC daily withdrawal limit. Importantly, KCEX is licensed in the US and Canada, making it a valuable option for users seeking a crypto exchange without SSN verification while balancing user privacy with regulatory compliance.

Pros and Cons

Pros pros

  • Offers futures (up to 100x) and derivatives
  • Sign up reward
  • 0% spot trading fee
  • Licensed in the US and Canada

Cons cons

  • No fiat support

4. BloFin 

Best non KYC crypto exchange for low trading fees

  • blofin-no kyc crypto exchange No KYC Features: No requirement for crypto spot and futures trading. Withdrawal limit for non-KYC accounts
  • Spot Trading Fees: Start from 0.1% maker/taker fees
  • Deposit Methods: Credit and debit card
  • Withdrawal Limit: Daily 20,000 USDT limit
  • Additional Features: 150x margin trading, bot trading, copy trading, BloFin earn, trading rewards

BloFin is a leading non KYC exchange offering over 300 USDT-margined pairs. Users can withdraw up to $20,000 daily without verification and benefit from up to 150x leverage. The platform features advanced trading signals via the TradingView charting interface. Fees include a 0.1% maker/taker fee for spot trades and 0.02% maker and 0.06% taker fees for futures trading.

New BloFin users can earn up to $5,000 in welcome rewards by completing trading and deposit tasks, with additional referral bonuses. The platform prioritizes security with five safety measures, including a partnership with Fireblocks for digital asset storage. BloFin also offers copy and bot trading, allowing no KYC users to replicate successful trades or receive alerts for potential trading opportunities.

BloFin ensures asset transparency and security by maintaining a 1:1 reserve of all customer assets, guaranteeing fund availability. Their partnership with Fireblocks, a top digital asset storage solution, enhances users’ crypto security.

Pros and Cons

Pros pros

  • Trade 300+ different crypto futures contracts.
  • Up to 150x leverage on crypto futures.
  • Offers copy trading and signal bot trading.

Cons cons

  • Limited daily withdrawals for non-KYC members.

5. Exodus

Best non KYC crypto exchange for easy swaps and staking rewards

  • exodus-no kyc crypto exchange No KYC Features: No KYC is required for account creation or trading
  • Spot Trading Fees: Depends on third-party
  • Deposit Methods: Debit card, credit card, bank account, PayPal, Apple Pay, or Google Pay
  • Withdrawal Limit: N/A
  • Additional Features: Built-in NFT gallery

Exodus is a versatile crypto wallet that doubles as an exchange, offering management, transactions, and swaps for over 300 cryptocurrencies without KYC requirements. This feature makes it an attractive option for users prioritizing privacy in peer-to-peer transactions. With support for major coins like Bitcoin and Ethereum and an intuitive interface suitable for both novices and experienced users, Exodus provides a comprehensive solution for those seeking a balance between functionality and anonymity in their crypto operations.

Exodus offers convenient in-wallet crypto swaps through third-party partners, simplifying exchanges despite a small fee. The platform also supports staking for popular cryptocurrencies like Cardano, Solana, and Algorand, providing users an easy way to earn passive income through Proof-of-Stake participation.

Additionally, Exodus features a built-in NFT gallery, enabling users to store, display, and trade digital collectibles, particularly those on Solana and Ethereum blockchains. This comprehensive functionality makes Exodus a versatile tool for managing both cryptocurrencies and NFTs within a single, user-friendly interface.

Pros and Cons

Pros pros

  • No KYC required
  • Supports 300+ cryptos
  • Built-in NFT gallery

Cons cons

  • Lacks advanced security features

6. BingX

Best non KYC crypto exchange for copy trading

  • bingx-no kyc crypto exchange No KYC Features: No KYC required for account creation or trading. Limit on withdrawal amount without verification.
  • Spot Trading Fees: 0.1%
  • Deposit Methods: Visa, Mastercard, SEPA, Line Pay, and 300 more
  • Withdrawal Limit: 50,000 USDT
  • Additional Features: Futures, grid trading, demo accounts, copy trading, staking options

BingX has become a popular cryptocurrency platform serving over 10 million customers worldwide. Despite limited availability in some jurisdictions, it has distinguished itself with innovative features and an intuitive interface. As a centralized exchange, BingX boasts a daily turnover of approximately $1.7 billion, ranking it the 19th largest exchange globally.

Licensed by AUSTRAC in Australia and holding a Monetary Authority License in Lithuania, BingX offers quick and easy account creation without KYC measures, appealing to users who prioritize privacy. However, this no-KYC approach has limitations, restricting users to basic trading features and imposing transaction limits. For full platform access, users may need to complete verification processes.

The platform offers a comprehensive trading platform catering to both beginners and experts. Its social trading features allow novices to copy successful traders’ strategies while advanced users can access Perpetual Swaps and Leveraged Futures. The platform supports trading in cryptocurrencies, stocks, forex, and indices, providing a diverse range of options for investors. With low fees and access to over 550 popular cryptocurrencies, including Bitcoin and Ethereum, BingX appeals to a wide audience. This combination of social trading, advanced features, diverse asset classes, and competitive pricing makes BingX an attractive option for traders at all levels seeking a versatile and user-friendly platform.

Pros and Cons

Pros pros

  • Grid trading options.
  • 24/7 customer support.
  • Features demo accounts and copy trading.

Cons cons

  • Limit on withdrawals without verification.

7. Changelly

Best non KYC crypto exchange for buying crypto with fiat

  • changelly-no kyc crypto exchange No KYC Features: Exchange and swapping crypto
  • Swap Fees: 0.25% exchange fee, purchasing crypto depends on the third-party service you use
  • Deposit Methods: Credit card (via MoonPay, Simplex or Wert, or with Apple Pay
  • Withdrawal Limit: less than 1 BTC equivalent per day
  • Additional Features: None

Changelly is one of the most popular no-kyc crypto exchanges
that has grown into a global crypto platform serving over 6 million customers worldwide. The platform offers a secure environment for trading, providing access to more than 500 cryptocurrencies through an easy-to-use interface, catering to users seeking a comprehensive range of features in one place.

The platform operates on a non-custodial model, promptly sending purchased digital assets to users’ private wallets for enhanced security. The platform supports various payment methods, including major debit and credit cards, bank transfers, and third-party providers like ApplePay, offering flexibility and convenience to its diverse user base.

Changelly has built a reputation for swift transactions, allowing users to capitalize on market opportunities efficiently. The platform’s user-friendly interface facilitates quick account creation, and its no-account, no-KYC policy ensures customer privacy. Partnerships with industry leaders like Binance and popular wallet providers Coinomi, Exodus, and Trezor bolster Changelly’s credibility as a trusted platform for anonymous crypto trading. With a 24/7 dedicated support team and a streamlined user experience, Changelly offers a compelling solution for users seeking a balance between speed, privacy, and reliability in their crypto transactions.

Pros and Cons

Pros pros

  • Buy crypto with fiat.
  • Sell crypto for fiat.
  • Exchange multi-chain tokens.
  • DeFi exchange.

Cons cons

  • Crypto offramp via Mercuryo and requires KYC.
  • Higher exchange rates than other CEXs and DEXs.

8. ChangeNOW

Best non KYC crypto exchange for affordable fees

  • changenow-no kyc crypto exchange No KYC Features: There is no mandatory KYC for most transactions, but it is required for suspicious activities or high-value trades
  • Spot Trading Fees: Less than 0.5% for both maker and taker fees​
  • Deposit Methods: Credit/debit USD/EUR card through Simplex
  • Withdrawal Limit: from ~$1.7 to $20
  • Additional Features: Partner with industry leaders, crypto loans, NOW Wallet, and NOW Token for cashback rewards and staking

ChangeNOW is the best crypto exchange without KYC, focusing on user security and privacy. It is primarily a no-KYC exchange, but it is necessary in two situations: if the exchange sum is substantial and if their risk management system flags the transaction as suspicious.

The platform supports many cryptos, with over 450 available for trading, including popular options like Bitcoin, Ethereum, etc. Its partnership with leading industry players such as Binance, Trezor, and Ledger further highlights its credibility.

They offer a transparent and competitive fee structure that adapts to market conditions, ensuring users receive optimal rates despite slightly higher Bitcoin withdrawal fees. The platform prioritizes security through advanced measures and a non-custodial approach, allowing users to retain control of their private keys. This combination of adaptive pricing, strong security protocols, and user autonomy makes ChangeNOW an attractive option for those seeking a balance of affordability, safety, and service quality in their crypto exchanges.

Pros and Cons

Pros pros

  • Over 450 cryptos are available for trading.
  • Competitive fees, adapting to market conditions.
  • Non-custodial exchange improves user security.

Cons cons

  • Fees above average for Bitcoin withdrawals.

9. Switchere

Best non KYC crypto exchange for fast transfers

  • switchere-no kyc crypto exchange No KYC Features: N/A
  • Swap Fees: 0% for SEPA and 1.99% for card purchases
  • Deposit Methods: Credit, prepaid, or debit card issued by VISA, Mastercard, or Maestro.
  • Withdrawal Limit: Unlimited if account is verified
  • Additional Features: N/A

Switchere is one of the most popular non KYC crypto exchanges offering rapid, efficient crypto purchases without KYC requirements, allowing new users to start buying within minutes. The platform supports over 30 cryptocurrencies, including major coins like Bitcoin and Ethereum, as well as lesser-known options such as Sienna and Radix, which can be bought instantly using cards, SEPA transfers, or other supported cryptocurrencies.

For fiat purchases, Switchere accepts USD and EUR, with some limitations. USD transactions are restricted to card payments only, while EUR purchases can be made via both card and SEPA transfer. This structure provides flexibility for users while maintaining a streamlined, no-KYC approach to cryptocurrency acquisition.

However, to use the platform, you have to provide basic personal information, including your full name, date of birth, country of residence, and phone number. This will unlock a daily exchange limit of $700, and additionally, ID verification will increase this limit to $15,000.

Pros and Cons

Pros pros

  • Buy crypto with fiat.
  • Swap coins from various blockchains.
  • Fast transfers.
  • Low card fees from 0.40%.

Cons cons

  • KYC is mandatory to use the platform.
  • Not many cryptocurrencies are supported.

10. CoinEx

Best non KYC crypto exchange for withdrawal limits

  • coinex-no kyc crypto exchange No KYC Features: Spot crypto trading, futures trading
  • Spot Trading Fees: Start from 0.1% maker/taker fees
  • Deposit Methods: Visa, Master Card, Apple Pay, Google Pay, Bank Transfer and SEPA
  • Withdrawal Limit: 10,000 USD without KYC/1,000,000 USD with KYC
  • Additional Features: N/A

CoinEx is a Hong Kong-based centralized crypto exchange that offers spot and futures crypto trading without KYC. It also offers margin trading, yield farming by becoming a market maker, and staking idle coins.

This exchange uses the maker/taker fee model where the price you pay for trading crypto depends on whether you buy it with a market order (taker) or set a limit order at a certain price (maker). The starting fee is 0.1% for both market makers and takers, but you can lower the fees by holding CET tokens.

CoinEx imposes a $10,000 daily limit on crypto transactions without KYC, with higher limits available upon account verification. While the platform allows both buying and selling crypto with credit cards, these transactions are processed through third-party services like MoonPay, AdvCash, and Mercuryo, which require their own KYC procedures. This structure maintains Switchere’s no-KYC policy while providing extended services through regulated partners, offering users a balance between privacy and expanded functionality.

Pros and Cons

Pros pros

  • Spot and futures trading without KYC.
  • Spot trading fees start at 0.1%, but you can lower them with CET tokens.
  • $10,000 withdrawal limit without KYC.
  • Advanced trading charts.
  • Over 600 cryptocurrencies to choose from.

Cons cons

  • Buying crypto with fiat currency goes via third parties that require KYC.
  • A limited number of features.

What is KYC in Crypto?

In the crypto industry, KYC is primarily about verifying that users are who they claim to be. This process typically involves providing personal information, such as a full legal name and home address, submitting government-issued identification, offering proof of address, and completing biometric verification. Exchanges use this data to confirm user identities, often conducting additional checks like requesting the source of funds, screening against sanctions lists, assessing risk levels, and monitoring account activity for suspicious behavior.

KYC is essential for preventing criminal activities and ensuring user security in the crypto space. By implementing KYC procedures, exchanges can identify and mitigate illegal activities, offering users greater confidence in the legitimacy of those they interact with. In contrast, non-KYC exchanges leave users vulnerable to fraud and scams, lacking the necessary safeguards to screen out bad actors. Ultimately, KYC compliance not only protects users but also aligns with global regulations on anti-money laundering (AML) and counter-terrorism financing (CTF).

What are the Advantages of Non-KYC Exchanges?

Crypto exchanges without identification come with several benefits, including:

Anonymity and privacyEfficiency and accessibilityEnhanced financial sovereigntyTrust and credibility

When user trade crypto without KYC on exchanges, it ensures that their identities remain private. This also obscures their crypto trading activities, which are impossible to track on-chain if they were executed on centralized exchanges.

Crypto exchanges that don’t require KYC streamline the trading process. Without the need for time-consuming verification procedures, users can quickly sign up with a crypto wallet or an email, deposit crypto funds, and start trading. Additionally, non-KYC platforms provide an accessible gateway to the world of cryptocurrencies for underserved populations.

This gives individuals greater control over their financial activities. Users retain full ownership of their funds, especially through DEXs, which reduces the risks of centralized entities’ potential mismanagement or insolvency.

Implementing KYC procedures helps crypto exchanges establish trust and credibility by demonstrating a commitment to security, regulatory compliance, and user protection. This added layer of legitimacy can make the exchange more attractive to both users and investors, who may feel more confident in the platform’s reliability and adherence to legal standards. In turn, this can lead to increased user adoption, higher trading volumes, and greater interest from institutional investors, further solidifying the exchange’s position in the market.

What are the Drawbacks of No KYC Exchanges?

Of course, even the best no KYC crypto exchanges have some drawbacks that come along with them:

Privacy and Data BreachCentrilized NatureUnavailability and RestrictionsHigher Price

KYC procedures on cryptocurrency exchanges raise privacy and data breach concerns due to the collection of sensitive personal data, making it a target for cybercriminals. This centralization conflicts with crypto’s decentralized nature and poses risks, especially in regions with weak data protection. As a result, some users prefer crypto exchanges without KYC, despite potential service limitations and higher fees, for better privacy.

The centralized management of user data by cryptocurrency exchanges conflicts with the core principles of decentralization in several ways. Centralized exchanges take control of sensitive personal data, creating trust and privacy concerns, and making it easier for authorities to censor or control access. This centralization also increases vulnerability to hacking, regulatory pressure, and data monetization, contradicting the pseudonymous and trustless nature of cryptocurrencies. This tension between regulatory compliance and the decentralized vision of crypto challenges the industry’s foundational ideals.

The requirement for KYC processes creates significant barriers for users who either lack access to identification documents or prefer not to share their personal information. These barriers can lead to the exclusion of individuals from participating in the crypto market, especially in regions where obtaining official identification is difficult. Additionally, the time-consuming nature of KYC processes can deter users who seek quick and efficient access to trading, ultimately limiting the inclusivity and accessibility of cryptocurrency platforms.

The implementation and ongoing maintenance of KYC procedures are expensive for cryptocurrency exchanges, requiring substantial investments in technology, staff, and compliance measures. These costs are often passed on to users through higher fees, making trading more expensive. This not only affects the profitability of users but can also discourage participation, especially among smaller investors or those operating in regions with lower income levels. The increased fees can undermine the accessibility and affordability of the crypto market, limiting its growth and adoption.

What to Consider When Choosing Crypto Exchanges Without KYC?

As more crypto exchanges are embracing KYC processes, you have to dig deep to find the best crypto exchange without ID verification. If you want to exchange crypto without KYC, here’s what to consider:

Look for user reviews, expert opinions, and any issues or controversies. Reddit often provides valuable information on many exchanges.

What are you looking for in an exchange? If you want to move fiat to crypto and back, this will require KYC, even if not by the exchange, then by a third-party service such as MoonPay or Mercuryo. But if you’re looking to take advantage of arbitrage or market opportunities, no KYC crypto exchanges are a great place to start quickly.

Check if the platform uses encryption, cold storage, two-factor authentication, and other security protocols to protect your funds.

An intuitive and user-friendly interface is often a requirement if you’re starting out. This will make the entire process of buying and selling crypto more straightforward.

Ensure the exchange supports the cryptocurrencies you’re interested in trading. Typically no KYC crypto exchanges will list almost every popular crypto you can find. But exchanges like Changelly might have a limited selection. You might be able to buy Bitcoin without verification but you’ll have to look elsewhere for more obscure altcoins.

Examine the fee structure. While some no KYC exchanges might offer competitive rates, others could have higher fees, especially if you buy crypto with a credit card. Compare the costs with other platforms to ensure you’re getting a fair deal.

Responsive customer support can be crucial, especially if you encounter any issues. You can always reach out to customer support before you start trading on an exchange to see how they respond.

Understand the jurisdiction under which the exchange operates. Some countries may not be supported by the crypto exchange. You could bypass this with a VPN, but that would be at your own risk.

Some exchanges offer additional features like staking, yield farming, and NFT trading. If you’re interested in these services, ensure the platform provides them.

Consider how easy it is to withdraw your funds. This is the most important part. Some no KYC exchanges might have withdrawal limits or specific conditions. Ensure you’re comfortable with these terms before committing to a platform.

How to Buy Crypto Without KYC

Buying cryptocurrency without undergoing KYC verification can be attractive to those who value privacy and speed. Here’s a step-by-step guide to help you through the process:

Step 1: Head to your chosen No KYC Exchange

The first step is to identify and select a reputable no KYC exchange. We’ve covered some of the top exchanges above. Once you’ve chosen, head to the exchange website.

Step 2: Register an Account

Once you’ve chosen an exchange, you’ll need to create an account. This typically involves providing an email address and setting a password. Some decentralized exchanges will just require you to connect your wallet.

Step 3: Deposit or Buy Funds

Most no-KYC exchanges do not support direct fiat currency deposits due to regulatory constraints. Instead, you will need to transfer cryptocurrency from an existing wallet to the exchange. You can also buy crypto using a P2P crypto exchange with no KYC.

If your chosen exchange has a fiat onramp, you will normally need to verify your identity with the payment provider.

Step 4: Trade Crypto

Once your funds are in your exchange wallet, head to the trading section and select your chosen trading pair, such as BTC/ETH.

Then, enter your transaction details and complete the transaction. Always make sure to review the fees and total costs before confirming.

Withdrawal Processes in No KYC Exchanges

Withdrawing from no-KYC exchanges is similar to withdrawing from most exchanges. However, there are some important factors to consider:

  • Withdrawing Fiat: Some exchanges that don’t require KYC do not support fiat at all. Therefore you’ll need to withdraw your crypto and sell it for fiat elsewhere. P2P crypto exchanges with no KYC will sometimes allow you to sell your crypto to another user for fiat.
  • Withdrawal Limits: No KYC exchanges usually impose withdrawal limits to manage risk and, in some cases, comply with legal requirements. This can be a daily limit as low as $100. Other exchanges will have a tiered limit where you can withdraw a certain amount depending on your trading volume. Higher tiers often require account verification.
  • Fees: As part of risk management, some no-ID exchanges will charge higher fees.

Are NO KYC Exchanges Safe and Legal?

From a safety perspective, this means that users’ personal data is less susceptible to potential breaches or unauthorized access, as minimal information is stored. This would make them relatively safer than KYC exchanges.

However, the lack of regulation and oversight can also make these platforms more vulnerable to other risks, such as money laundering or fraud. Since they often operate outside of traditional financial systems, users might have limited recourse in case of disputes or losses.

The legality of no KYC exchanges varies by jurisdiction. In many countries, cryptocurrency exchanges are required by law to implement KYC procedures. Operating without KYC can lead to exchanges facing legal repercussions, including fines or shutdowns.

Conclusion

The best non KYC crypto exchanges continue to offer a blend of privacy, efficiency, and accessibility. However, users should keep in mind that although they provide all of these things, these exchanges are prone to regulatory changes, and research must be done before trading.

Our top pick is Best Wallet since it offers a multi-chain wallet, integrated swaps, and more. Best Wallet also has an extensive roadmap, signaling its dedication to expanding its ecosystem through future developments. 

References

FAQs

Are there any non KYC crypto exchanges?

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Will the government crack down on non-KYC exchanges?

The no-KYC crypto exchange landscape is evolving due to regulatory pressures. Binance’s 2021 shift to mandatory KYC and the U.S. crypto infrastructure bill requiring 1099 tax reporting exemplify this trend. With Form 1099-DA regulations expected by 2025, both centralized and decentralized exchanges may soon need to implement KYC procedures. This regulatory shift suggests that current no-KYC platforms may face significant changes in the near future.[/A2]

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Kliment Dukovski
Editor

Kliment Dukovski is a cryptocurrency and investments writer. He's written over 1,000 articles to help readers understand complex crypto and investment subjects, as well as to find the best cryptocurrency products to meet their needs. His expert commentary has been featured in Fox Business, MSN Money and MediaFeed.

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