In this article, we present the best no kyc crypto exchanges that allow you to deposit, trade, and withdraw your crypto completely without KYC. The platforms in our top list have been thoroughly tested and reviewed by our professional team consisting of Mark, Helen, and Jaime which together have around 20 years of experience in the field of cryptocurrency, blockchain, and internet security.
Our testing team has reviewed 50 crypto exchanges and platforms that does not require KYC identification to join and start trading. This article has been fact-checked by another separate team of reviewers, Anna and Henrik, which confirms that all the data is 100% correct.
Best no KYC crypto exchange list
- Phemex - Best anonymous crypto exchange (accepts US traders)
- BYDFi - Best no KYC crypto exchange
- Bybit - Good alternative
- MEXC - Top no KYC exchange for low fees
- Margex - No KYC crypto exchange for staking
- PrimeXBT - Best Bitcoin trading platform without KYC
(This article is not meant as financial advice. In some parts of the article we have added affiliate links in which we earn a commission, at no extra cost for you.)
Further down in this article, you fill find the same platforms as shown in our list above but with a broader breakdown of the features.
What is the best no KYC and anonymous crypto exchange?
To make a full review of a crypto exchange it is important to consider all aspects of the platform. Our team has taken an approach to research all possible angles to find out which is the best exchange without KYC. They have analyzed:
- KYC requirements
- KYC limits
- KYC for different jurisdictions
- KYC for deposits
- KYC for withdrawals
- KYC for trading
1. Phemex - Best anonymous no KYC exchange overall
Phemex rating 9.9/10
Phemex is the best anonymous crypto exchange where users can use all trading features without having to submit any personal identification or verification documents.
Unlike many other exchanges, Phemex does not restrict users based on jurisdictions. It doesn’t matter where you are based, Phemex accepts traders form USA, Europe, Asia, and most other major jurisdictions to trade crypto without KYC.
One of the big advantages of Phemex is that it does not require KYC verification for depositing funds. Users can deposit their cryptocurrencies and start trading futures contracts without going through the verification processes.
Phemex maintains its no KYC policy for withdrawals as well. This means that users can withdraw their funds whenever they wish, without any KYC-related constraints.
The exchange does not impose KYC verification for trading on the platform. Users can access all derivative products, including perpetual contracts, without the need to share verification documents.
Phemex KYC limits
Unverified clients can withdraw up to a 50,000 USDT every 24 hours. Unverified users can do unlimited deposits and trading.
Why we chose it
We chose Phemex due to its relaxed KYC-approach, allowing us to trade crypto futures anonymously. The platform's inclusivity for all jurisdictions, hassle-free deposits and withdrawals without KYC verification, resonated well with out testing team for this article. Even though Phemex doesn’t have strict KYC requirements, it employs srong measures to protect user accounts and funds and has not had one single breach or loss of customer funds since its inception.
Pros and cons
Pros:
- Deep liquidity for large-volume traders
- User-friendly account funding process
- Dedicated educational webinars and tutorials
- Multilingual customer support
- Flexible contract expiration dates
- Auto-trading with trading bots
- Adaptive trading fee program for reduced fees
Cons:
- Limited educational resources
- No decentralized exchange (DEX) integration
- No fiat-backed stablecoin trading pairs
- No rewards program for high-volume traders
- No options for lending or borrowing cryptocurrencies
- Limited range of available order types
(The pros and cons of Phemex were gathered during the testing period of the platforms’ review phase, and the opinions reflect our genuine opinions)
2. BYDFi - Best no KYC crypto exchange alternative
BYDFI rating 9.8/10
BYDFi ranks number 2 as the best no KYC crypto exchange thanks to its lenient approach towards KYC requirements, allowing traders from over 150 jurisdictions to create an account. With BYDFi, the KYC process is streamlined which makes it easy to sign up, make a deposit, and start trading without much effort.
BYDFi accepts users from multiple jurisdictions, including but not limited to Europe, Asia, and North America. BYDFi offers traders from different parts of the to trade crypto completely without KYC restrictions.
One of the key advantages of BYDFi is that it does not mandate KYC verification for making deposits. Users can fund their accounts without the need to send in personal information, such as personal ID or passport.
In contrast to some platforms that impose strict KYC requirements for withdrawals, BYDFi maintains its no-KYC policy when users withdraw their funds. This means that users can withdraw their cryptocurrencies at any timeso f the day without having to pass the KYC verification process.
BYDFi adopts a no-KYC policy for trading activities as well. Traders can execute trades without having to provide personal information beyond the initial account registration.
BYDFi KYC limits
Unverified users on BYDFi can withdraw up to 0.5 BTC per day and there are not limits on deposits.
Why we chose it
We chose BYDFi as our preferred crypto exchange for its no KYC policy, user-friendly interface, and global clientbase. This allows for a very quick registration process which has attracted traders from all over the world. With competitive fees, a diverse range of cryptocurrencies, good contract offerings, and excellent customer support, BYDFi shines as one of the best crypto exchanges without KYC.
Pros and cons
Pros:
- Low trading fees (0.05%)
- Quick registration process
- Social trading feature
- Fast order execution
- Risk management tools (Stop Loss, Take Profit)
- No deposit fees
- Secure cold storage for funds
- Option to trade perpetual contracts
Cons:
- Relatively new exchange (established in 2019)
- No staking or yield farming options
- Lack of an integrated wallet
- No native token or utility token
- No OTC trading desk
(The pros and cons of BYDFi were gathered by Helen during the testing period of the platforms’ review phase, and the opinions reflect our genuine opinions)
3. Bybit - Best anonymous crypto exchange without KYC
Bybit rating 9.7/10
Bybit ranks third in our list as the best anonymous crypto exchange without KYC alternative due to being very KYC-friendly compared to other competitors. Bybit does not require users to go through the KYC verification process to start trading which it a perfect platform for crypto traders who want to trade crypto anonymously.
Regarding KYC requirements for different jurisdictions, Bybit does not maintains its no-KYC policy globally and restricts access based on geographical locations and regulatory requirements. However, most major jurisdictions are welcome to join.
For deposits, Bybit maintains a user-friendly process that does not involve KYC. Users can easily fund their accounts with a range of cryptocurrencies and start trading right away, removing any delays that might be associated with KYC compliance.
Similarly, when it comes to withdrawals, Bybit has a KYC-free policy up to a certain limit. This allows users to quickly and efficiently withdraw their funds up to 20k USDT per day without any verification hurdles, making it a one of the best anonymous crypto exchanges today.
The biggest advantage of Bybit's no-KYC policy is apparent when it comes to trading. The lack of KYC requirements lets users start trading immediately after creating an account, without the need to share personal information. This is beneficial seen from both a security perspective and a time consuming perspective.
Bybit KYC limits
Unverified clients who wish to trade crypto anonymously can withdraw up to 20k USDT per day and a maximum withdrawal of 100k USDT per month.
Why we chose it
We chose Bybit as our preferred anonymous Bitcoin exchange for several reasons. Bybit's no-KYC policy allows you to trade without going through the KYC process if your daily withdrawals are below 20k USDT. Our team found that the customer support and the fast trade execution made a big difference in how Bybit compared to other similar platforms which made it a great choice among top anonymous crypto exchanges when trading without KYC.
Pros and cons
Mark from our team tested the Bybit platform and found many
Pros:
- Mobile app available
- Incentive fee structure for high-volume traders
- Social trading community
- Stop-loss and take-profit features
- User-controlled fund management
- Secure cold wallet storage
- Customisable charting interface
Cons:
- Geographical restrictions
- Lack of insurance for user funds
- Limited customer support response time during peak periods
- Limitations trading strategies for beginners
- Potential latency issues during peak trading hours
(The pros and cons of Bybit were gathered during the testing period of the platforms’ review phase, and the opinions reflect our genuine opinions)
4. MEXC - Top no KYC exchange with lowest fees
MEXC rating 9.2/10
MEXC took the fourth spot as a top no KYC crypto exchange with the lowest fees of 0% maker fees. MEXC does not require KYC for registration, allowing users to start trading almost instantly without submitting any identification documents.
The KYC policy also complies with local regulations as it requires KYC verification only for users from countries where it is legally mandated. This means that users from regions with strict regulatory requirements will need to undergo verification, while users from jurisdictions without such requirements can trade altcoins without KYC.
The platform does not ask for KYC verification for cryptocurrency deposits which lets users deposit nearly any crypto they want without any filing their KYC documentation such as personal ID or passport.
MEXC has a user-friendly approach and it requires KYC verification only for withdrawals that exceed specific limits. For smaller withdrawals, users can easily transfer their funds without having to complete the KYC process.
MEXC KYC limits
As an unverified users on MEXC your daily withdrawal limit is 30 BTC.
Why we chose it
We like MEXC since there is no KYC hassle during registration and trading allows for a quick registration process. This combined with a big pool of altcoins definitely puts it up there among other top crypto exchanges without KYC.
Pros and cons
Pros:
- No KYC hassle
- Low trading fees (0.0% maker fee and taker fee)
- High trading volume (over $2 billion daily)
- Multiple order types (limit, market, stop-limit, trailing stop)
- Trading interface for beginners
- Mobile app available
- Margin trading options
- Day trading tools
Cons:
- Limited fiat currency options
- Restricted access for some jurisdictions
- Not all altcoins are listed
- Occasional slow response times
- Limited payment options for fiat deposits
(The pros and cons of MEXC were gathered during the testing period of the platforms’ review phase, and the opinions reflect our genuine opinions)
5. Margex - Best crypto exchange without KYC for staking
Margex rating 9.1/10
Margex is an up and coming top crypto exchange without KYC for staking due to its approach to KYC requirements for various aspects of trading, including different jurisdictions, deposits, withdrawals, and trading activities.
Margex prioritizes user privacy and allows traders to access its platform without going through the KYC verification process. This means users can start trading immediately without the hassle of submitting personal identification documents.
Unlike many other platforms that implement KYC for specific regions, Margex has a global approach, offering unrestricted access to traders from nearly any jurisdiction.
Margex follows a no-KYC policy for deposits, making it a fast on-ramp for traders to fund their accounts. Users can deposit cryptocurrencies without the need to go through any identification verification, saving time and maintaining anonymity.
The withdrawals on the exchange are also free from KYC which lets traders access their earnings fast and without any KYC-related delays.
Margex truly shines by offering a top no-KYC crypto trading platform where traders can execute their trading strategies without the burden of KYC verification.
Margex KYC limits
All activity on Margex is free from KYC verification including deposits, trading, and withdrawals from any jurisdiction.
Why we chose it
We chose Margex as our preferred Bitcoin exchange without KYC for beginners due to its focus on user privacy policy that allows traders from nearly all jurisdictions to access the platform without verification hassles. The funding process is very smooth, accepting plenty of cryptocurrencies without the need for identification verification, made it easy to start trading immediately.
Pros and cons
Pros:
- No KYC required
- 100x leverage
- Mobile trading app
- Both isolated and cross margin
- Demo rrading account
- Full market depth chart
- Instant deposits
- 24/7 customer support
Cons:
- No staking or lending services
- No fiat withdrawals
- Limited order types
- No derivatives beyond futures
- Limited trade analysis tools
- No automated trading bot integration
(The pros and cons of Margex were gathered during the testing period of the platforms’ review phase, and the opinions reflect our genuine opinions)
6. PrimeXBT - Best bitcoin trading platform without KYC
PrimeXBT rating 9.0/10
PrimeXBT ranks number 6 as the best Bitcoin trading platform without KYC due to its highly advantageous approach towards KYC requirements. As a global platform, PrimeXBT accepts traders from all over the world to join, trade, and withdawr crypto anonymously.
PrimeXBTdoes not enforce KYC for traders, allowing users to access the platform and trade cryptocurrencies without submitting personal identification documents. PrimeXBT also accepts users from multiple jurisdictions, tailoring its services to comply with the regulations in each region.
PrimeXBT does not demand KYC verification for depositing funds into the trading account which is good for traders who wants to start trading Bitcoin without KYC fast.
The platform also maintains its no-KYC policy for withdrawals which means that users can withdraw their profits and funds without in an instant while staying completely anonymous.
All the exchange's trading products are fully accessible without any KYC verification. Other features that PrimeXBT offers are leveraged trading, trading in forex and commodities, and index trading.
PrimeXBT KYC limits
Unverified users on PrimeXBT has a 24 hour withdrawal limit of $20,000.
Why we chose it
We like PrimeXBT thanks to several reasons such as a user-friendly trading interface that caters to both beginners and experienced traders. With a range of advanced tools, charts, and technical indicators, users can do in-depth market analysis while trading with a top order matching engine. PrimeXBT is known for its leveraged trading, allowing users to boost their profits with up to 200x leverage on select crypto assets.
Pros and cons
Pros:
- Demo account with virtual funds
- Competitive spreads on major cryptocurrencies
- Availability of long and short positions
- No deposit or withdrawal limits
- Efficient and reliable order matching engine
- Integration with popular payment providers
- Transparent funding rates for leveraged positions
Cons:
- No price alerts or push notifications
- Potential slippage during high volatility periods
- No option for recurring deposits or automated trading strategies
- Potential risk of funds loss in case of security breaches
- Limited educational content for beginners
- Inability to change leverage while position is open
(The pros and cons of PrimeXBT were gathered during the testing period of the platforms’ review phase, and the opinions reflect our genuine opinions)
What is KYC?
KYC stands for Know Your Customer and it’s a process where business and financial operators collect personal information of their customers in order to verify their identities.
A KYC process in necessary for those institutions that are working with closely regulated jurisdictions where AML and KYC restrictions are more stringent.
The KYC procedure includes prodiving your name, your home address, proof of address, and identification documents such as a national identification card or pass port.
The reason why KYC exist is to prevent money laundering, fraud, and other criminal acts by shaing personal identification information.
What is a no kyc crypto exchange?
A no KYC crypto exchange is a cryptocurrency trading platform that allows users to trade digital assets without undergoing the traditional KYC verification process, enabling them to maintain anonymity and privacy.
Unlike exchanges that require personal identification documents for verification, no KYC exchanges allow users to sign up and trade anonymously. One benefit is the privacy for traders, however, it’s worth noting that it can increase the risks on the platform since you are not protecting your own identity of your account.
Traders should exercise caution and be aware of regulatory implications before using a no KYC crypto exchange.
Why use a crypto exchange without kyc?
There are several benefits of using a crypto exchange withou KYC where the most obvious one is that you can stay completely anonymous when trading and you can protect your own identity.
When trading on a no-kyc crypto exchange you avoid the risk of your personal information being misused or compromised.
The onboarding process of an anonymous crypto exchange is much quicker and since you don’t have to send in your personal information you can start trading as soon as you have signed up.
Lastly, no KYC exchanges can be accessible to users from various jurisdictions, especially those where KYC regulations may be challenging to comply with or where access to traditional financial services is limited.
Can you buy crypto without kyc?
You can buy cryptocurrencies without KYC verification on certain exchanges or through peer-to-peer platforms and decentralized exchanges. On these platforms you can buy and sell crypto while staying anonymous.
P2P platforms connect buyers and sellers directly, while DEXs operate in a decentralized manner, both facilitating transactions without KYC. However, it's crucial to be cautious as platforms without KYC may attract fraudulent activities and illegal transactions, and users should be aware of and comply with local regulatory requirements related to cryptocurrency trading.
Is KYC mandatory for crypto?
It is not universally mandatory for all cryptocurrency transactions or activities. KYC requirements depends on the crypto exchange and the jurisdiction where it is operated.
Some jurisdictions have harder rules against crypto trading while others are more lenient towards crypto trasactions in general. Centralized exchanges tend to be more strict when it comes to personal details before starting to trade.
On the other hand, decentralized platforms will not ask for the same amount of personal details since their operations are done between individuals and the funds are not stored on the exchange. In such cases, users may have the option to trade cryptocurrencies without KYC.
How to choose a no kyc exchange
Here are some steps to help you choose a suitable no KYC exchange:
- Look for well-established exchanges with positive user reviews and a good reputation in the crypto community.
- Basic safety features such as 2fa, cold storage wallets, and SLL are important.
- Ensure the exchange supports the cryptocurrencies you intend to trade.
- Go through the trading features to make sure that your order types, technical indicators, or charting tools exist.
- Look for an exchange with sufficient liquidity, especially for the cryptocurrencies you wish to trade. Adequate liquidity ensures you can enter and exit positions smoothly.
- Compare the fees charged by different no KYC exchanges. Consider not only the trading fees but also deposit and withdrawal fees.
- Customer support is important too. Check that the platform offers at least live chat and email support 24/7.
- Confirm that the exchange is accessible from your country or region, as some exchanges may have geographic restrictions.
- While the exchange is no KYC, ensure it complies with relevant legal and regulatory requirements in its jurisdiction.
- Choose an exchange that is transparent about its operations, fees, and terms of service.
What makes a no kyc crypto exchange beneficial?
A no KYC crypto exchange offers several benefits that make it appealing to certain users:
- Privacy and Anonymity: The most significant advantage of a no KYC exchange is the ability to trade cryptocurrencies without revealing personal information.
- Faster registration process: Without the need for KYC verification, the registration process is typically quicker and more straightforward, allowing users to start trading almost immediately.
- Access from every country: No KYC exchanges often have fewer restrictions on geographic locations, enabling users from various countries, including those with limited access to traditional financial services, to participate in cryptocurrency trading.
- No risk of data breaches: Since users do not need to submit personal identification documents, the risk of potential data breaches or identity theft is minimized.
- User-Friendly Experience: No KYC exchanges tend to provide a more straightforward and hassle-free user experience, appealing to individuals who prefer a streamlined approach to cryptocurrency trading.
- Flexibility: Users can choose to trade without KYC verification or choose other platforms that require KYC based on their preference for privacy and compliance.
Things to consider when choosing a crypto exchange without kyc
When choosing a crypto exchange without KYC verification, it's crucial to consider the following factors to ensure a secure and satisfactory trading experience:
- Reputation and Reviews: Make sure that the exchange as a good reputation online with a review rating of at least 4+.
- Security Measures: Verify the exchange's security protocols, such as two-factor authentication (2FA), encryption, and cold storage for funds.
- Trading Features: Evaluate the exchange's trading interface, available order types, leverage options, and other trading features that suit your trading style.
- Liquidity: Check the exchange's liquidity for the cryptocurrencies you plan to trade.
- Transaction Fees: Compare the trading fees, deposit fees, and withdrawal fees across different exchanges to minimize trading costs.
- Customer Support: Look for exchanges with responsive and helpful customer support to assist you in case of any issues or inquiries.
- Geographic Accessibility: Ensure the exchange is available and accessible from your country or region, as some exchanges may have restrictions on certain locations.
- Regulatory Compliance: While the exchange may not enforce KYC, verify that it complies with relevant legal and regulatory requirements in its jurisdiction to ensure legitimacy.
- Community and Social Media Presence: Exchanges with an active community and regular updates on social media platforms may indicate a more engaged and reliable platform.
- Trading Volumes and Uptime: Consider the exchange's trading volumes and uptime record to ensure sufficient liquidity and minimal service disruptions.
- User Experience: Choose an exchange with a user-friendly interface and intuitive navigation to enhance your overall trading experience.
FAQ
Can I use KuCoin without KYC?
Yes, KuCoin allows users to trade cryptocurrencies without KYC verification for certain withdrawal limits. However, certain features and higher withdrawal limits may require KYC.
Can I use Crypto.com without KYC?
No, Crypto.com requires users to complete KYC verification to access its full range of services, including higher withdrawal limits and fiat functionality.
Does Kraken require KYC?
Yes, Kraken enforces KYC verification for all users to comply with regulatory requirements and ensure a secure trading environment.
Can you trade crypto on Binance without ID?
No, Binance does not allow traders to trade without ID.
Which decentralized exchange has no KYC?
Decentralized exchanges like Uniswap and PancakeSwap typically do not enforce KYC verification as they facilitate peer-to-peer trading without intermediaries.
How to buy ethereum without KYC?
You can purchase Ethereum without KYC on decentralized exchanges like Uniswap, where you can trade directly from your Ethereum-compatible wallet without identity verification.
Final thoughts
Phemex took the spot as the best no KYC crypto exchange in our list of the most popular platforms during the testing process where our team looked at factors like KYC requirements, deposit policies, trading features, and more.
While these platforms enable trading without KYC verification, users should carefully weigh the benefits against potential risks, taking into account regional regulations. The choice to use a no KYC exchange depends on individual preferences and risk appetite.
All though these platforms provide privacy-centric trading opportunities, users should be aware of potential downsides.
About the authors
The authors of this article, Mark, Helen, and Jaime share their experience during their review period which lasted around 15 days. Their total knowledge in the blockchain and cryptocurrency space stretches well over 20 years combined.
Mark's background in market analysis, Helen's mastery in cybersecurity, and Jaime's understanding of regulatory shifts synergize to offer all-encompassing perspectives on the no KYC crypto exchanges covered in this manual.
Disclaimer: The above is a sponsored post, the views expressed are those of the sponsor/author and do not represent the stand and views of Outlook Editorial.
