No-KYC crypto exchanges allow users to start trading without verifying their identity to buy cryptocurrencies using a range of payment methods. As there are many options available and to save you time and effort, these are the best exchanges to buy crypto without KYC in 2025.
- Trade crypto with upto 100x leverage
- Copy other winning traders with copy trading or bots
- Despoit with credit or debit card instantly
- Buy, store and spend thousands of cryptocurrencies
- 60+ chains supported including Bitcoin, Ethereum and Solana
- Earn rewards with staking, cashback and airdrops
- No KYC and P2P trading available for enhanced privacy
- Trade crypto with 100x leverage
- Earn rewards with staking, lending and token launches
We removed MEXC and ByBit as these exchanges now require KYC to deposit and trade crypto. These have been replaced with fresh exchanges.
The best no KYC crypto exchanges to consider in 2025
Let’s start by taking a quick look at our selections for the best no KYC crypto exchanges in 2025.
- Best Wallet: Best no KYC crypto exchange, combining an anonymous crypto wallet with an integrated no KYC exchange
- Margex: Top no KYC exchange offers up to 100x leverage, copy trading, and trading bots
- BloFin: Exchange charging extremely low spot and futures trading fees and generous non?KYC daily limits (US$20k USDT)
- KCEX: Top no-KYC exchange charges 0% spot trading fees, offers up to 100x leverage, with phone?only signup
- Bitunix: Crypto derivatives exchange with copytrading features and high leverage with the option of US$10k/day withdrawals
- Weex: Exchange 600+ pairs, $30,000 USDT in welcome bonus, and generous non?KYC daily limits (US$500k USDT)
- BingX: Trade cryptos with 150× leverage and access top features such as crypto loans and copy trading
- AlphaX: Crypto exchange with decentralized trading on-chain, and with up to $5,000 USDT welcome bonus
- Changelly: Decentralized crypto exchange with fiat onramp and offramp plus the best rates on no?KYC swaps
- ChangeNOW: Web3 crypto exchange with over 1300 cryptocurrencies
Our top platforms to buy crypto with no KYC
Now, let’s provide a more detailed overview of our top no-KYC?crypto apps and exchanges. We’ll discuss fees, features, payment methods, and more.
1. Best Wallet: The best all-in-one no KYC wallet/exchange
Best Wallet makes this list because it offers a true non-KYC experience while supporting thousands of cryptocurrencies across over 60 chains.
You can buy, swap, store, and sell digital assets without providing personal identification. It’s a top pick for those exploring cheap cryptocurrencies and seeking a secure, no-KYC trading experience.
It also integrates a decentralized exchange, cross-chain swaps, and an in-app token launchpad. With advanced security features and seamless access to DeFi, Best Wallet provides a complete crypto management solution without compromising anonymity.
Overview of Best Wallet
Best Wallet is a fully non-custodial app, meaning you maintain full control over your assets at all times. It features decentralized account recovery and advanced fraud protection to safeguard your funds. Whether you’re holding Bitcoin, Ethereum, or stablecoins, all assets stay in your possession without third-party risks.
Buying crypto is simple with Best Wallet’s Onramper integration, offering competitive exchange rates and low fees. You can purchase Bitcoin, Ethereum, Solana, and more while reducing costs by holding the $BEST token.
Spending crypto is seamless with the Best Card, which integrates with Google and Apple Pay. Holding and staking $BEST unlocks up to 8% cashback and lower transaction fees.
For early investors, Best Wallet’s token launchpad provides access to exclusive presales. Users can analyze tokenomics, buy at the earliest stage, and track presale progress directly in the app.
Best Wallet combines security, privacy, and full DeFi functionality, making it one of the best non-KYC exchanges to use in 2025.
Early investors have poured over $13 million into the $BEST presale, demonstrating confidence in its potential.
KYC tiers, limits, and restrictions
| No KYC account limits | No KYC required |
| Payment methods | Credit cards, e?wallets |
| Cryptocurrencies | Thousands across 60+ chains |
| Trading fees | DEX swap fees vary (liquidity?dependent) |
| USP | Non?custodial DEX + wallet in one |
Best Wallet pros
- Doubles as a wallet and DEX, so you’re not forced to use external tools for swaps
- Multi-chain support lets you sidestep bridges for obscure coins
- Mobile-first interface fits DeFi traders who mostly use smartphones
Best Wallet cons:
- Limited fiat ramp compared to CEXs—better for crypto-to-crypto
- Lack of centralized order books means illiquid pairs can have wild price swings
2. Margex: The top no-KYC crypto exchange for novice investors
Margex?is a top no-KYC crypto exchange in 2025, thanks to its wide range of features, which require only an email address to start trading.
This decentralized exchange platform allows users to go long or short on 36 different cryptocurrencies and trade with leverage of up to 100x. It also boasts low trading commissions, at just 0.06% per slide on market orders and 0.019% on limit orders.
Overview of Margex
Margex is one of the most reputable no KYC crypto exchanges on the market thanks to its wide range of features, user-friendly interface, robust security and high leverage.
The platform’s 100x leverage on crypto futures is a standout attribute, opening the door to higher returns. However, this can also increase the risk of losses, so users are advised to approach this feature carefully.
Margex also boasts features such as a demo account, allowing users to practice and hone their strategies without committing financially, and copy trading, allowing users to replicate the trades of highly reputable investors.?
KYC tiers, limits, and restrictions
| No KYC account limits | No KYC for email?only; no fiat funding |
| Payment methods | Crypto only (Visa/Mastercard for buys) |
| Cryptocurrencies | ~36 perpetual pairs + spot |
| Trading fees | 0.019?% maker / 0.06?% taker on futures; spot 0.10?%/0.10?% |
| USP | 100× leverage with zero KYC |
Margex pros
- Futures UI is less “casino-like” than most—minimalist, less distracting
- Social trading features let you copy strategies with no social KYC
- Tightest funding rate control among small derivatives platforms
- No KYC for withdrawals up to high limits, rare for leveraged CEXs
Margex cons:
- Native wallet has limited network support (BTC/ETH mostly)
- Fiat deposit KYC required for non-crypto buys, which breaks the “no-KYC” claim
3. BloFin – Top no-KYC exchange charges low trading fees
BloFin stands out as a secure, privacy-focused platform with extensive trading options and robust security. With spot and futures trading built into the wallet, users can trade more than 120 cryptocurrencies, including BTC and ETH.?
Prioritizing anonymity, BloFin allows for up to $20,000 in withdrawals without KYC verification.?
Overview of BloFin
Launched in 2023, BloFin is a top platform for accessing futures and spot crypto trading. While users can access no-KYC trading for up to $20K in withdrawals, they must verify their accounts once this threshold is reached.?
On BloFin, users can trade more than 120 digital assets, starting with an extremely low trading fee of 0.1% per transaction. BloFin integrates spot and futures trading in a secure environment, backed by partnerships with Fireblocks and Chainalysis for enhanced security.?
Staking options, such as up to 3% APY on Bitcoin, add appeal, while the platform’s passkey authentication and transparent 1:1 asset reserve reinforce user trust. These features make BloFin ideal for privacy-focused investors who value asset security and anonymous withdrawals.
KYC tiers, limits, and restrictions
| No KYC account limits | KYC-free up to US$20?k USDT daily |
| Payment methods | Debit/Credit cards + direct crypto payment methods |
| Cryptocurrencies | 120+ |
| Trading fees | Starts from 0.1% per transaction |
| USP | Futures trading with bots and 150× leverage |
BloFin pros
- AI-based trading bots accessible to non-coders, no ID needed
- Offers unusually high leverage without account verification
- Built-in analytics visualize counterparty risk—rare on small platforms
BloFin cons:
- Spot trading feels like a side-feature, not a main focus
- Over-reliance on Telegram for support, no in-dashboard help
4. KCEX – Pay 0% spot trading fees with this no-KYC exchange
KCEX is a top choice for no-KYC crypto trading, offering a streamlined registration process requiring only a phone number and passcode.
This centralized exchange supports over 170 cryptocurrencies, with 0% fees on all spot trades, allowing users to trade anonymously without verification.
Overview of KCEX
Launched in 2021, KCEX is designed for traders seeking anonymity and low fees. To start trading, users only need to enter a valid phone number and create a unique passcode for the platform.?
Notably, KCEX offers zero-fees spot trading on the 170+ digital assets supported on the ecosystem. Furthermore, users can also trade crypto futures and perpetual contracts – applying up to 100x leverage on their trades. The platform charges a Taker fee of 0.01% on futures but no Maker fees.?
KYC tiers, limits, and restrictions
| No KYC account limits | No KYC beyond phone login |
| Payment methods | Likely crypto & fiat via CEX rails |
| Cryptocurrencies | 170+ tokens |
| Trading fees | Spot: 0?%; Futures taker 0.01?%, maker 0?% |
| USP | 0?% spot trading fees |
KCEX pros
- Phone-only signup feels “web2” simple, zero learning curve
- Full 0% spot fees—a genuine differentiator
- Supports mid-tier altcoins usually ignored by bigger CEXs
KCEX cons
- Web security depends heavily on SMS, which is vulnerable to SIM-swap
- OTC and fiat ramps are limited outside Asia
5. Bitunix – No-KYC derivatives exchange with copytrading features
Bitunix is one of the leading no-KYC cryptocurrency exchanges. Beyond its no-KYC policy, Bitunix offers user funds security via maintaining a substantial reserve fund that exceeds a 1:1 ratio against user holdings. This means users’ assets are securely backed if something goes wrong with the exchange.
Users can start their crypto journey with an investment as low as $10, and get real-time market updates to help them make better decisions. The platform supports spot and futures trading, catering to a wide range of trading strategies and preferences.
Overview of Bitunix
The platform’s user-friendly interface and comprehensive resources make it accessible to novice and experienced traders. For a minimum of $10, users can start trading and investing in various cryptocurrencies and meme coins.
With multilingual 24/7 customer support, users can access assistance whenever needed, ensuring a smooth and satisfying trading experience. Overall Bitunix is an exchange worth checking out.
KYC tiers, limits, and restrictions
| No KYC account limits | No KYC tier with US$10?k/day limit |
| Payment methods | Crypto payments and direct crypto purchases |
| Cryptocurrencies | ~300 |
| Trading fees | 0.02?% maker / 0.06?% taker |
| USP | High-liquidity trading with low fees |
Bitunix pros
- Fee discounts for high-frequency bots—rare for smaller exchanges
- Multi-lingual customer support available 24/7
- Offers synthetic asset pairs (e.g., stocks), not just crypto
- Good operational transparency; regular public security audits
Bitunix cons
- “No KYC” is tiered—heavy users will eventually be prompted
- API limits for free accounts are lower than industry norm
- Aggressive anti-abuse systems can temporarily freeze legitimate accounts
6. Weex – Crypto exchange with over 600 crypto paris with 0% maker fees
WEEX is one of the leading no-KYC cryptocurrency exchanges that offers a comprehensive suite of trading options, including spot trading, futures trading with leverage up to 200x, over-the-counter (OTC) trading, and copy trading.
The platform supports over 600 pairs, providing traders ample opportunities to diversify their portfolios. Moreover, spot trading has 0% maker fees, meaning traders who set limit orders can save money on transactions.
Overview of Weex
The platform’s user-friendly interface and intuitive design make it accessible to traders of all experience levels. WEEX also offers a mobile application for iOS and Android devices, allowing users to manage their trades on the go.
The exchange implements robust security measures, such as two-factor authentication (2FA), advanced encryption protocols, and undergoes regular security audits. Additionally, WEEX maintains a 1,000 BTC user protection fund and provides transparent Proof of Reserves (PoR), ensuring that user assets are securely backed.
KYC tiers, limits, and restrictions
| No KYC account limits | Withdraw up to 500?k?USDT/day |
| Payment methods | Supports fiat and crypto payments |
| Cryptocurrencies | 600+ trading pairs |
| Trading fees | 0?% maker, likely low taker fees |
| USP | Massive withdrawal limits with zero maker fees |
Weex pros
- Exceptionally high non-KYC withdrawal cap—great for power users
- Advanced charting tools built-in—almost at TradingView level
- Multi-collateral futures trading, not just USDT margin
Weex cons
- KYC might be forced for large volume traders despite the branding
- App not listed on Google Play/App Store in many regions
7. BingX – Trade 700+ Cryptos with this No-KYC Exchange
BingX is a standout no-KYC exchange, allowing users to trade over 750 assets without identity verification. This platform is ideal for those valuing privacy, as it offers a daily withdrawal limit of $20,000 without requiring KYC checks.?
Overview of BingX
On BingX, users can trade up to $20K in daily withdrawals anonymously. However, P2P exchanges will not be supported without verifying your identity. The platform supports advanced trading features, including perpetual futures with leverage options up to 150x, making it appealing.
One of BingX’s highlights is its competitive Taker fees, starting at 0.10%, and a range of innovative features.
Additionally, the platform offers staking and crypto-backed loans, further enhancing its value for users seeking versatile crypto investment options. These features make BingX a strong choice for those looking to trade with privacy, flexibility, and robust security.
KYC tiers, limits, and restrictions
| No KYC account limits | Up to $20K in daily withdrawals, no P2P trading features available |
| Payment methods | P2P payments, Apple Pay, Google Pay, Debit/Credit card payments |
| Cryptocurrencies | 750+ |
| Trading fees | Starts at 0.10% per transaction |
| USP | Short-selling + 150× leverage |
BingX pros
- Social copy-trading lets you track whales’ trades in real time
- Perpetual swaps for micro-cap tokens—rare among CEXs
- Detailed stats on top traders’ performance, not just “win rates”
- Responsive web app, works in restrictive firewalled regions
BingX cons
- Pairs usually delisted suddenly without warning
- Fiat payment options limited to certain jurisdictions
- Demo trading accounts don’t match real execution speeds
8. AlphaX: Decentralized crypto exchange with high leverage and low latency
AlphaX has introduced decentralized exchange (DEX) functionality, which allows users to trade digital assets without requiring identity verification. This exchange delivers a trading experience that rivals centralized exchanges in speed and efficiency.
The platform supports high-speed transactions, enabling users to capitalize on market opportunities with minimal latency. With an extensive selection of over 100 futures trading pairs, AlphaX offers a wide range of trading strategies and preferences, providing ample opportunities for portfolio diversification.
Overview of AlphaX
To buy cryptocurrencies on the AlphaX exchange, you need an email or a self-custody wallet like MetaMask. Such wallets allow users to maintain full control over their assets and reduce their reliance on intermediaries, making it an excellent no-KYC option.
Each transaction is executed via transparent and auditable smart contracts, enhancing trust and reliability within the platform. ?Users can exchange cryptocurrencies on the spot market or trade with leverage in the futures market, with up to 125x leverage.
Users can reach out to AlphaX on Discord where they can open a ticket if they have an issue.
KYC tiers, limits, and restrictions
| No KYC account limits | No KYC required to trade on the platform |
| Payment methods | Decentralized crypto exchange with crypto deposits |
| Cryptocurrencies | 200 |
| Trading fees | 0.02% (Maker) – 0.05% (Taker) |
| USP | Hybrid CEX/DEX flexibility |
AlphaX pros
- Hybrid DEX/CEX—lets you move liquidity between both in one app
- Offers time-locked trades (good for hedging)
- “Self-custody” option—store coins yourself or on-platform
AlphaX cons
- Interface can feel overwhelming to new users
- KYC required if you touch fiat ramps or bank transfers
9. Changelly: Popular non-custodial crypto exchange
?Changelly is a non-custodial cryptocurrency exchange that allows users to swap over 1,000 digital assets without mandatory identity verification for small transactions. While Changelly generally doesn’t enforce KYC procedures for minor trades, the platform reserves the right to request verification if a transaction appears suspicious or exceeds certain limits. ?
One of Changelly’s notable strengths is its user-friendly interface, which makes swapping crypto seamless. The platform integrates with major exchanges like Binance, Poloniex, and Bittrex, enabling it to offer competitive rates by aggregating the best available prices.
Overview of Changelly
Changelly has reached 10 million users worldwide in April 2025. While Changelly doesn’t require KYC to swap cryptocurrencies, investors who buy crypto with a card must pass KYC to a third-party provider. The same goes for those selling crypto for fiat currency since you must provide transaction details.
Changelly boasts 24/7 live support and best market rates. In addition, Changelly doesn’t store any cryptocurrencies. Instead, they are just an intermediary between your wallet and the exchange.
KYC tiers, limits, and restrictions
| No KYC account limits | Withdraw up to 1?BTC/day w/o KYC |
| Payment methods | Card purchases and bank transfers are supported |
| Cryptocurrencies | 1,000+ |
| Trading fees | Swap fees dynamically; starts ~0.05?% |
| USP | Best swap rates aggregator |
Changelly pros
- Non-custodial swaps—never holds your funds even temporarily
- Aggregates CEX and DEX liquidity for best rates in seconds
- Private “swap history” mode—trades can’t be linked to account
- High minimums on some swaps prevents accidental micro-dust trades
Changelly cons
- Fixed-rate swaps can be illiquid during market volatility
- No recurring buy feature—only manual swaps
- Some swaps require KYC if the counterparty CEX demands it
10. ChangeNOW: No-KYC exchange with over 900 cryptocurrencies
ChangeNOW is a non-custodial cryptocurrency exchange allowing users to swap, buy, and sell over 900 digital assets without registering or verifying identity. However, it’s important to note that while ChangeNOW generally does not enforce KYC procedures, the platform reserves the right to request verification if a transaction appears suspicious or exceeds certain limits. ?
One of ChangeNOW’s notable strengths is its user-friendly interface, which is designed for seamless cryptocurrency exchanges. The platform integrates with major trading platforms such as Binance, Bitfinex, HTX, OKEx, and Kucoin, offering competitive rates by aggregating the best available prices.
Overview of ChangeNOW
ChangeNOW is a Web3 exchange where users can buy crypto with a card or swap various cryptocurrencies. The maximum amount you can exchange is $2, but the minimum is $2. Moreover, ChangeNOW offers fewer network fees and on-chain transactions, saving users money.
As a non-custodial platform, ChangeNOW doesn’t hold users’ funds, reducing the risks associated with centralized fund storage. Additionally, ChangeNOW employs an automated risk prevention system to monitor transactions.
If a transaction is flagged as suspicious, the system may pause the exchange and request identity verification to ensure compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. ?
ChangeNOW also offers a comprehensive ecosystem that includes the NOW Wallet and NOW Tracker. These provide users with secure storage solutions and real-time portfolio tracking. The platform boasts swift exchange processes, typically completing transactions within five to thirty minutes.
Furthermore, ChangeNOW provides 24/7 live support to assist users with any inquiries or issues.
KYC tiers, limits, and restrictions
| No KYC account limits | Unlimited swaps w/o KYC |
| Payment methods | Cryptocurrencies and Fiat |
| Cryptocurrencies | 1,300+ cryptos |
| Trading fees | From about 0.05?% |
| USP | Unlimited swaps w/o KYC |
ChangeNOW pros
- No upper limit for no-KYC swaps—unusually rare
- Supports 1,300+ tokens, often including brand-new assets
- Built-in fee estimator before every swap
- Native support for Lightning Network (fast BTC swaps)
ChangeNOW cons:
- High network congestion means swaps may get “stuck”
- No order book, so you can’t “see” swap depth
- Customer support relies heavily on automated bots
Demand for no KYC exchanges in 2025
The demand for no-KYC crypto exchanges still elevated in 2025. New no-kyc exchanges are continuing to emerge, reflecting the popularity of these exchanges.
Privacy-focused users will prefer buying and trading cryptos without revealing their ID. While regulators are still addressing the matter, trading without giving away your personal detail is among the core reasons for true decentralization.
ChageNOW, which is used for buying and selling cryptocurrencies (no spot trading or futures) reaches a daily volume that exceeds $9 million. In other words, over $9 million worth of buying and selling crypto is taking place at the exchange on a daily basis.
Are no-KYC crypto exchanges safe?
No KYC exchanges, like Margex, allow users to buy and sell cryptocurrencies without completing identity verification (Know Your Customer or KYC).
These exchanges allow users to remain anonymous, bypassing the usual submission of personal documents. They provide faster registration and access, attracting traders seeking privacy and those in jurisdictions with strict regulations.
Although they offer privacy, they carry higher risks, including potential legal issues or security vulnerabilities.
Despite these risks, no-KYC platforms remain popular among users who prioritize speed and anonymity and are safe for quick crypto transactions as well as trading.
Why choose a no-KYC exchange? (Explained using real-world scenarios)
Trading using No-KYC platforms is interesting for a number of reasons — we’ll explore the most notable ones below:
Fast onboarding
You don’t need to wait days to get verified. If you’ve ever signed up for a crypto exchange and hit a KYC wall, you know how annoying that delay can be. No-KYC platforms skip all that.
You sign up, deposit, and trade—sometimes in less than 10 minutes. For traders who catch sudden market moves, that speed can be the difference between profit and regret. It’s practical when you’re moving fast and can’t afford roadblocks.
Preserve privacy
Not everyone is comfortable sharing sensitive documents online. KYC usually requires your passport, utility bills, or selfies. That’s a lot of personal data stored on servers you don’t control.
No-KYC exchanges respect that boundary. You get to trade without handing over a digital copy of your identity. If you value privacy in your financial activities, this is a clear path. Plus, less personal data exposure lowers your risks if platforms ever get hacked.
Access within restricted regions
Some countries block access to specific exchanges because of sanctions or regulations. If you’ve tried logging into major exchanges from places like Iran, North Korea, or parts of Africa, you know the frustration.
No-KYC platforms don’t impose those regional blocks. You can trade globally without being geo-fenced out of opportunities. For users in these areas, it’s sometimes the only route to crypto markets without using risky VPN workarounds.
Bypass regulatory barriers
Not every user can meet the strict standards of regulatory checks. Maybe you don’t have updated documents, or your region lacks formal ID systems. That locks you out of KYC exchanges entirely.
No-KYC platforms remove that barrier. You can trade, invest, or swap tokens without navigating bureaucratic red tape. It’s not just convenience—it’s access for people who’d otherwise be excluded entirely from digital finance.
Low-volume trades
If you’re trading small amounts of crypto, submitting KYC feels excessive. Do you really need to send your ID to buy $20 of Bitcoin? Probably not.
No-KYC platforms keep it simple. For hobbyists, testers, or casual traders, it makes more sense. You can move in and out of the market without creating a trail of personal information over small transactions.
Limited access to traditional banking
Many people don’t have access to proper banking systems, especially in underbanked regions. Without a bank account, passing KYC checks that ask for bank statements or credit histories becomes impossible.
No-KYC platforms don’t require that. All you need is a crypto wallet. If your banking options are limited—or nonexistent—this might be your only practical entry into the crypto economy.
Lower transaction fees
Some no-KYC platforms operate with lower overhead costs since they don’t run identity verification processes. That can translate to cheaper fees for users.
You won’t always see this explicitly, but smaller exchanges without KYC often undercut bigger platforms on trading fees. For frequent traders, those small savings stack up. If costs are your concern, no-KYC exchanges can help keep your trading expenses down.
Fiat currency limitations
Certain users can’t easily convert their local currency into global standards like USD or EUR because of strict capital controls or currency restrictions. If you’re stuck with a weak or tightly regulated fiat currency, KYC platforms may reject you outright.
No-KYC exchanges bypass that issue. You can trade directly in crypto pairs, avoiding the fiat onramp struggle entirely. For many, that’s the workaround that unlocks participation in global markets.
Crypto enthusiast without ID
Some crypto users, especially younger ones, might not have formal identification yet. If you’re under 18 in many countries, getting a government-issued ID can be tricky.
No-KYC exchanges don’t ask for one. You can still explore, invest, or participate in crypto projects without waiting for bureaucracy to catch up to you. It keeps crypto open to enthusiasts who aren’t fully documented yet but want in.
Pros and cons of non-KYC crypto exchanges
Pros
- Users avoid sharing personal information, protecting their financial activities from prying eyes.
- Registration is typically quick and easy, requiring minimal information.
- Users in regions with strict financial regulations may find No KYC exchanges as their only option via VPN.
- No-KYC exchanges may be seen as more resistant to government control over financial transactions.
- No-KYC exchanges may be more open to listing new or less popular cryptocurrencies.
Cons
- The lack of KYC verification makes No KYC exchanges attractive for criminal activities.
- Without KYC, identifying and preventing fraudulent activity can be harder.
- Regulatory pressure could lead to the end of trading without KYC at any moment.
- Some exchanges may impose higher fees for users who do not wish to KYC.
- User support might be limited or non-existent due to the lack of user verification.
- Restrictions on the amount you can deposit and the amount you can withdraw may be placed.
With all this in mind, what is the standard view regarding No-KYC?
Is KYC good or bad?
The idea that “if you’ve got nothing to hide, you don’t need privacy” is flawed. You wouldn’t want your emails exposed to the world, and the same applies to your financial transactions.
These reveal far more—your wealth, spending patterns, and even political affiliations. In some countries, donations to certain causes could lead to persecution. As reported by Reuters, Hong Kong protestors learned this firsthand when their bank accounts were closed.
Even Bitcoin users should be cautious; a transaction linked to your identity could make you a target. Enhancing privacy isn’t always necessary, but it strengthens Bitcoin’s fungibility and makes it a more secure store of value for everyone.
Comparison of KYC and No-KYC Exchanges
| Feature | No-KYC exchange | KYC exchange |
|---|---|---|
| Anonymity | High level of anonymity | Low level of anonymity |
| Security & customer protection | Lower security due to lack of identity verification | Higher security due to identity verification |
| Regulatory compliance | Often operate in unregulated markets | Must comply with strict regulatory requirements |
| Accessibility | Easy to use, no registration process | May have more complex registration processes |
| Transaction limits | Higher transaction limits due to lack of regulation | Lower transaction limits due to regulatory compliance |
| Suitability | Ideal for privacy-conscious users and small transactions | Best for regulated users and large transactions |
| Risk | Higher risk due to lack of identity verification | Lower risk due to regulatory compliance |
| Transaction fees | May have lower transaction fees due to lack of regulation | Higher transaction fees due to regulatory compliance |
| Derivative products | Limited derivative products | Offers a wide range of derivative products |
Alternatives to no-KYC crypto exchanges
Non-custodial transaction services like MoonPay and Ramp offer another solution. These services act as fiat-to-crypto gateways, allowing users to purchase cryptocurrencies directly with debit or credit cards while being regulated in most states.
Another alternative are P2P marketplaces. Individuals from allover the world transact with each other. For small amounts, KYC is not required in all platforms.
Do I have to report my transactions on no-KYC crypto exchanges?
While KYC exchanges are useful for bypassing the usual jurisdictional regulations and allowing you to trade crypto regardless, you must still declare your earnings from no KYC crypto exchanges. Failure to do so will be classed as tax avoidance.
For instance, while crypto tax has always been somewhat of a grey area in the UK, His Majesty’s Revenue and Customs (HMRC) has recently ramped up its crackdown on avoidance, sending ‘nudge’ letters to investors suspected of failing to declare earnings.
Similarly, in the US, cryptocurrencies are classed as property for tax purposes. While some crypto-related actions are not taxable, property tax must be paid on the sale of digital assets for fiat currency, selling or using such assets to pay for goods and services, and trading any digital asset for another.
| If you’re using no-KYC exchanges to protect your privacy, you might also want to take the next step by using wallets that don’t require ID either. To show you how to store and manage your crypto without ever giving up your personal information, check this guide to the best anonymous crypto wallets. |
The best non-KYC crypto exchanges – Conclusion
After thoroughly examining 10 of the best no KYC exchanges for crypto, we determined that Best Wallet was the overall winner. Its all-in-one ecosystem of an exchange, wallet, and utility token is highly impressive and will likely tick all the boxes for most people.
Margex is another honorable mention. While its range of cryptocurrencies is fairly limited, we loved its beginner-friendly interface, low trading fees and charting tools.
We’ve also examined the regulations and alternatives for no-KYC exchanges in the USA and the tax obligations surrounding no-KYC crypto platforms. Most importantly, investors should know that most jurisdictions tax cryptocurrency profits.
How We Rate Cryptocurrency Exchanges
We manually review the crypto exchanges on our list. Below are the key metrics we check before listing a crypto exchange on the website. For further details, you can also take a look at our cryptocurrency exchanges rating guide, featured on ValueWalk.
Fee structure
Deposit methods
Regulations
Customer support
Digital assets & liquidity
FAQs
Is KYC mandatory for crypto?
Can I trade crypto without KYC?
Is is to safe to use an exchange without kyc?
Are there any benefits to trade without KYC?
Are non KYC exchanges safe?
References
Hong Kong bank account freezes rekindle asset safety fears | Reuters
KYC in Crypto: The Real Reason Exchanges Need Your ID, Daily Coin
Crypto investors warned over latest HMRC ‘nudge’ campaign, Financial Times
HTX Withdraws Hong Kong Crypto Exchange Application, CoinDesk
Exodus Rings NYSE Opening Bell, Celebrating a New Era for Crypto | GlobalNewsWire
LBank reaches 15 million users, achieving new milestone in global crypto exchange | CoinTelegraph
