Crypto Exchanges Without KYC. How to Find a Privacy-Friendly Cryptocurrency Exchange?

Buying and selling crypto anonymously has become a challenge, but there are ways to go about it. No-KYC crypto exchanges allow users to trade digital assets without providing personal details.

No KYC crypto exchanges

With omnipresent surveillance, there are a number of reasons to value privacy. Few people appreciate the state poking its nose into their private affairs and trying to keep track of their financial activity. China, with its Social Credit System and CBDC rollout at scale, is a sinister portent of what may spread worldwide if people give ground on civil liberties.

Cryptocurrencies emerged as the Holy Grail of financial freedom, promising anonymity and independence from the money creation system run by central banks. However, things did not go exactly as planned, with the crypto industry's limited immunity to surveillance and many businesses yielding to a growing catalog of regulatory requirements.

Still, there are methods to stay off Big Brother's radar by following good privacy practices, choosing the right digital currencies, using crypto tumblers, and – our point of focus here – avoiding KYC-heavy centralized crypto exchanges (CEX). Before we help you steer clear of bothersome ID screening procedures, let's explain what they're about.

What the fork is KYC, and what does it want from my bitcoins?

KYC stands for "know your customer" and refers to a set of procedures used by regulated businesses, especially financial institutions, to verify their clients' identity. Essentially, it's a three- or four-step process involving basic identification and due diligence, sometimes extended to include additional measures. Here's a brief breakdown of the procedure.

1. Customer identification: a business collects customer info, such as name, address, date of birth, and government-issued ID numbers to establish who the customer is and prevent anonymous transactions.

2. Customer due diligence (CDD): a business verifies the data collected during identification and confirms the customer's address and identity using provided documents (passports, driver's licenses, utility bills, etc.)

3. Enhanced due diligence (EDD): in some cases, regulations require stricter verification for higher-risk customers, which might involve additional checks like verifying sources of income or investigating business ownership structures.

4. Ongoing monitoring: yup, when you enter the dragon's den, don't expect the beast to let you out of sight.

Specifics may depend on the industry, the type of customer, and the service at issue. If you're applying for a mortgage loan, you're in for a bureaucratic hell. If you're just buying a SIM card, things should go smoothly.

There are important advantages of the KYC proces, depending on your perspective. Naturally, institutions get the most out of it (precious data to monetize and feed surveillance systems), but an average Joe can also enjoy – even if not immediately – essential benefits.

How come? KYC contributes to a more secure financial environment, which is something most of us want. Key advantages include:

- reduced fraud risk: KYC helps prevent criminals from opening accounts in your name, so there's less chance of someone impersonating you to steal your money or take out loans in your name,

- account protection: KYC makes it harder for criminals to launder money through your accounts, which might lead to freezing your account,

- broader access to financial services: KYC regulations are an inconvenience, but they allow financial institutions to offer a wider range of services with greater confidence,

- financial stability: whether you like the fiat system or not, you probably use it every day and want it to be stable – KYC helps keep it that way.

How does KYC work in crypto?

In the times of the Old West (2010s), coin users were free to inconspicuously join any crypto platform and trade the hell out of the market without being harassed. The growing popularity of crypto vexed authorities.

Financial and other institutions felt like things may be getting out of hand. The legal noose around the crypto market began tightening around 2019. Citing money laundering and terrorism financing concerns, regulatory bodies started classifying crypto exchanges as Money Service Businesses (MSBs), bringing them under the ambit of KYC and Anti-Money Laundering (AML) regulations similar to traditional finance.

Previously, most platforms allowed users to register and trade without stringent verification measures. Nowadays, crypto exchanges and other regulated crypto businesses actively combat anonymity, requiring their customers to provide personal information revealing their identity.

The process is similar to traditional KYC: the platform verifies submitted documents to confirm whether the user's information is accurate and matches the provided ID.

The intensity of KYC varies across platforms and regulatory frameworks. Some providers use basic KYC for low-value transactions, while others employ harsher verification standards for higher transaction limits or specific features.

However, the pressure is building. Even reluctant crypto firms have introduced more stringent KYC measures due to the regulatory squeeze.

In 2020, BitMEX extended its KYC process, requiring identification and information on trading experience. Previously, the platform only asked for an email address.

In the following year, Binance, the world's largest crypto exchange, required new customers to provide government-issued IDs and undergo facial verification.

The FTX crash made things worse and spiked the negative hype around crypto, increasing the push for surveillance.

What are the reasons to avoid KYC procedures?

People value privacy and anonymity for various reasons – some practical, some political or ideological. Many of them are well-grounded and merit recognition.

A classic example is financing opposition movements in authoritarian countries. Cryptocurrencies can help bypass restrictions and reduce risks of persecution by dictator regimes. Funds can be sent instantly to recipients worldwide without undergoing institutional scrutiny.

Politics aside, another reason to avoid KYC exchanges is security. Platforms can be hacked and often are. If criminals – on top of stealing your money – get away with your mandatory KYC data, you're facing risks of identity theft for future fraud, financial loss, or even legal responsibility linked to being unintentionally involved in phishing or social engineering scams using your personal details.

If hacking attacks sound too dramatic – which they shouldn't – consider other type of data leakages related to human errors, accidental exposures, system misconfiguration, negligent data disposal, or third-party breaches.

Your data is collected, tracked, and shared and may be used for commercial or other purposes not necessarily aligned with your best interest. So, if you decide to undergo KYC verification, make sure you understand its scope and implications.

Still, you may not need to take the above-mentioned risks. There are a number of no-KYC crypto exchanges that allow you to participate in the crypto market without exposing your identity.

Be aware though, that some of these platforms have tiered approach to KYC, applying such procedures to pro users, while others may unexpectedly require KYC verification from you based on their system red-flagging your transaction(s).

Always double-check risks and obligations before signing up and trusting your resources to external parties.

10 best no-KYC crypto exchanges

When it comes to crypto exchanges without KYC, the tough nut to crack is whether to opt for a CEX or DEX. A centralized exchange (CEX) is operated by a central authority, usually a company. It requires users to trust it with their funds and, typically, undergo a KYC procedure. Pros include higher liquidity, faster transactions, and tons of cryptocurrencies and features.

On the other hand, a decentralized exchange (DEX) operates on a decentralized blockchain network, allowing users to retain control of their funds and trade directly from their wallets. DEXs are generally slower and have lower liquidity than CEXs but don't require KYC verification.

Still, many centralized crypto exchanges allow users to get a taste of the market without going through the KYC-related hassle and apply ID verification for high-rollers, specific features, or increased withdrawal limits.

Balancing privacy and convenience according to your needs is essential to pick the best no-KYC crypto exchange for yourself. We've tried to make it easier for you by curating a selection of high-quality platforms.

Below are some of the best no-KYC crypto exchanges operating on the market.


MEXC stands out as a user-friendly, high-performance, custodial exchange platform. Established in 2018 and based in Seychelles, it's grown to support over 1,600 cryptocurrencies and serve over 10 million users.

MEXC is present in major jurisdictions and is regulated directly or through affiliates. The company has acquired an Estonian MTR license, enabling it to serve over 170 countries with operational legitimacy. Restricted countries include Mainland China, Indonesia, Singapore, the United States, Canada, and others.

MEXC offers a wide array of products, including P2P trading, spot trading, futures trading, crypto loans, rewards, and more. It also tempts users with competitive fees and attractive discounts.

Regarding privacy, the platform only partially qualifies as a non-KYC exchange since it applies tiered verification requirements. You can sign up without a mandatory KYC check, but if you want to level up and start trading for real, you'll need to go through the identity verification process.

The platform states clearly that "different levels of KYC can unlock different trading permissions and financial activities." Completing KYC verification allows users to increase the single transaction limit for buying and withdrawing funds as well as future bonus benefits.

Completing the primary KYC procedure increases the 24-hour withdrawal limit to 80 BTC, with limited access to OTC transactions (P2P trading in KYC-supported region).

You can further increase the 24-hour withdrawal limit to 200 BTC by performing advanced KYC (requires facial recognition), which also unlocks unlimited access to OTC transactions, such as P2P trading in KYC-supported regions and global bank transfers.


Established in 2015 and registered in Hong Kong, Changelly is a decentralized exchange: a peer-to-peer marketplace enabling direct transactions between cryptocurrency traders. The platform prides itself on being a one-stop-shop for crypto customers, enabling purchasing, selling, swapping, and trading digital assets.

Changelly's website and mobile app ecosystem is an intuitive and easy-to-use instant-execution platform. With exchange fees at 0.25%, the service ranks among the most competitive in the industry.

Changelly has also been praised for its solid customer support, relatively high number of listed crypto assets (more than 500), and wide – for an instant exchange – selection of tools and features, including futures trading, spot trading, margin trading, and an affiliate program enabling impactful users to earn crypto by spreading the word and bringing in new customers.

Additionally, the platform provides seamless APIs enabling companies to offer their clients crypto-related features, such as exchanging crypto, making crypto payments with fiat currencies, or interacting with the DeFi market (Changelly claims to provide access to more than 3600 "exotic" DeFi tokens).

By default, Changelly qualifies as a no-KYC crypto exchange, but it has a KYC policy in place for suspicious transactions. The platform may apply a customer identification procedure when its scoring system red flags an activity.

The user will be asked to provide personal data to verify their identity. Transactions classified as risky are put on hold until sufficient user information is collected.

Changelly is not available in the US.


BingX is another no-KYC crypto exchange with different rules for verified and unverified users. Launched in 2018 in Singapore, the trading platform has rapidly gained prominence and grown to serve over 10 million users worldwide.

BingX provides access to diverse products and services, including derivatives trading, spot trading, copy trading, grid trading, and asset management for users at all levels of experience. The platform attracts newbies with its copy trading feature, allowing them to choose from among over 15,000 elite traders to follow.

Additionally, customers appreciate BingX's low trading fees. The platform charges a 0.1% maker fee and an equivalent taker fee – well below the market average. The exchange has branch offices in Asia, Oceania, Europe, and South America. It doesn't provide services to US residents.

Like other CEX platforms, BingX applies KYC requirements to some extent. Unverified users are allowed to withdraw a maximum of 50,000 USDT in a 24-hour period without being subject to a maximum cumulative withdrawal limit. Customers who pass the verification process can withdraw up to half a million USDT in 24 hours.

Source: Bingx


Headquartered in the United Arab Emirates, ByBit is among the top crypto exchanges worldwide. Launched in 2018, the platform quickly gained recognition. Five years into the game, the exchange reached a significant milestone, achieving 20 million registered users.

Key factors of Bybit's success include constant innovation, AI-powered trading bots, a sophisticated options market, and a dynamically growing copy trading community. As per Coingecko, ByBit ranks second in terms of 24-hour trading volume, right behind Binance.

The platform supports over 400 cryptocurrencies and offers a wide array of trading features and tools, including spot trading, margin trading, leveraged tokens, trading bots, inverse contracts, and more. It also boasts a solid web3 solutions suite, encompassing NFT trading, staking, IDO, dapp access through a ByBit wallet, web3 community program, and more.

ByBit uses a complex KYC structure based on a rather restrictive policy. Non-KYC'd users are not eligible for any features besides crypto withdrawals. Unverified accounts are allowed to withdraw up to 100,000 USDT per month. Completing a KYC procedure boosts the limit to 1,000,000 USDT per day.

The exchange uses more than ten VIP levels and four KYC levels, including non-KYC, individual KYC level 1, individual KYC level 2, and business KYC. For the most up-to-date details check the FAQ on their website.

Hodl Hodl

Hodl Hodl is an interesting specimen among other non-KYC exchanges. Rather than being a full-blown platform, it is a p2p Bitcoin trading solution, allowing users to trade with one another without intermediaries.

As a non-custodial venue, Hodl Hodl doesn't hold customers' funds. It locks them in a multisig escrow smart contract signed by the transacting parties with their private keys.

The platform enables selling and buying BTC with major fiat currencies, including USD and EUR. It supports 20 payment methods, such as bank transfers, Revolut, and several cryptocurrencies, including anonymity-friendly Monero.

Hodl Hodl has over 100,000 registered users and has already closed more than 50,000 deals. The platform invites users to customize their offers by setting their prices, using multiple payment methods, and setting up the stop-loss value.

Hodl Hodl points to anonymity as the core value of their service – enabled by the multisig escrow functionality. Indeed, with zero KYC/AML procedures, it fully supports privacy and can be considered one of the best no-KYC crypto platforms characterized by user-friendliness, simplicity of use, and transparent policy.

A minor downside is fees. With up to 0.5% trading fee for every registered user (discounts apply for referrers and referrals), Hodl Hodl is not the most competitive exchange out there.

Lastly, the platform offers a lending functionality with a dedicated landing page. Lend at Hodl Hodl is a global non-custodial lending solution allowing users to lend and borrow from others anonymously. Lend is a P2P tool based on multisig smart contracts, using Bitcoin as collateral.


RoboSats is another handy tool in the vein of Hodl Hodl. Also a non-custodial, decentralized exchange, the platform offers a convenient and private way to exchange bitcoins for fiat currencies. It is open-source, lightning-fast, and verification-free.

Unlike centralized no-KYC crypto exchanges that restrict most features for identified users, RoboSats enables Bitcoin trading in full privacy. It doesn't even require user registration to buy crypto.

You can join the exchange with a single click by generating a robot avatar. No username, email, phone, or any other input is necessary. Since robot avatars cannot be linked to their owners, there is zero risk a user will make a mistake and unwittingly reveal their identity.

Every robot is equipped with a pair of PGP keys for end-to-end encryption. You can vet the privacy of your communication by exporting your keys and verifying them with any third-party tool using the OpenPGP standard.

RoboSats enhances users' privacy by using The Onion Router (TOR) for fully anonymous communication guaranteed by thousands of routers worldwide, passing the traffic through the circuit until it reaches its final destination.

The platform advises users to also access its services via TOR or at least via TOR-compatible browsers like Brave – remarking that "users should always assume they're being spied on."

Another handy piece of advice is to use one identity per trade. RoboSats claims to be the only exchange enabling this privacy-critical feature.

Last but not least, RoboSats charges low fees of 0.2% of the total trade amount distributed between the maker (0.025%) and the taker (0.175%). As with other exchanges, external fees, such as Lightning Network routing and on-chain transaction fees, may apply.


PancakeSwap advertises as everyone's favorite DEX, which is not necessarily true since it has top-notch competitors. Still, the platform is one of the most popular decentralized exchanges and the number one no-KYC exchange on the BNB chain – Binance-developed blockchain touted as the top blockchain for web3 applications with huge user bases.

PancakeSwap has a good deal of tools and products for new and seasoned crypto traders, including the exchange for trading crypto, NFT market, prediction market, lottery, simple staking feature for staking popular tokens, veCAKE tokens for participating in PancakeSwap's governance, yield farming (enables depositing tokens into a DeFi protocol a to earn rewards), market analysis tools, and a lot more. The exchange applies four fee tiers: 0.01%, 0.05%, 0.25%, and 1%.

PancakeSwap's key characteristic is the use of the automated market maker (AMM) model, the cornerstone of decentralized exchanges. It enables trading crypto against a liquidity pool rather than based on order books like in centralized exchanges.

Liquidity pools are collections of funds locked in smart contracts. They provide liquidity (it influences how fast users can trade their crypto for fiat currency or other assets) for traders, enabling them to interact with various crypto assets. On PancakeSwap, liquidity providers contribute funds to the pools to earn a share of the trading fees generated by the platform.

Like other decentralized exchanges, PanckakeSwap is a no-KYC exchange. There is no KYC procedure in place, and you will never be asked for personal details.


dYdX stands out among non-KYC crypto exchanges as a leading DeFi tool for advanced trading. Built on the Ethereum blockchain, dYdX protocol allows crypto traders to buy, sell, borrow, and lend digital assets in a secure and trustless manner.

The platform supports over 60 cryptocurrencies and offers low trading fees, deep liquidity, and instant access to 20x leverage (20 times the assets in your account) for perpetual future contracts – a dYdX's specialty.

Relatively new in the crypto space, perpetuals are a type of crypto derivative used by traders to speculate on digital assets without directly owning them. Unlike traditional futures contracts, perpetual futures have no expiration date. Instead, they involve ongoing payments between two counterparties: one long and one short.

These payments depend on whether the contract's price is higher or lower than the market price of the underlying asset. Perpetuals have grown to prominence in recent years, accounting for billions in trading volume.

dYdX is a great option for advanced users who are experimenting with different trading strategies. Apart from self-custody, traders can expect fast onboarding, plenty of trading pairs with frequent new listings, rewards, the ability to participate in governance, and low fees with the fee structure as below.

dydx KYC
Source: dYdX

The platform doesn't require KYC verification. However, in 2022, there was a controversy about dYdX introducing KYC procedures and terminating them on the same day.

Allegedly, the process required face scans from customers. The initiative was scrapped due to the backlash from the crypto community.


Launched in 2018, Uniswap is the biggest name in the game regarding DEX platforms and one of the most well-known brands among centralized and decentralized exchanges. It operates on the Ethereum blockchain, allowing users worldwide to trade cryptocurrencies directly, without commercial intermediaries.

Unlike centralized exchanges run by specific companies, Uniswap is community-driven and transparent. It is also a truly global crypto exchange available to residents of any country worldwide.

Uniswap was the first exchange to introduce the automated market maker model to the crypto market, supporting P2P trades based on predefined smart contracts rather than an order book controlled by a centralized authority. In addition to crypto trading, Uniswap users can make money on providing liquidity by depositing their tokens into liquidity pools – a critical basis for maintaining liquidity in the ecosystem.

Currently, Uniswap is the largest crypto project on Ethereum with over 1.8 trillion dollars in trade volume, more than 223 million all-time trades, and over 300 integrations, including crypto wallets, prize games, analytics tools, and a variety of other web3 platforms.

In its V2 version, Uniswap branched out to other blockchains supporting ERC-20-compliant tokens. It also introduced protocol fees to boost the development effort and began using wrapped Ether for its core contracts. The platform charges 0.3% for swapping tokens.

As a non-KYC crypto exchange, Uniswap never required identity verification. However, the V4 version of the protocol launched last year introduced a controversial hook (a specific smart contract that runs throughout a pool action's lifecycle), which allows a KYC verification before a user can join the pool.

The procedure is optional for developers to implement, but critics argue it's the first step towards full regulatory compliance that could delegalize non-KYC crypto exchanges. Fret not too soon, though. You can still enjoy Uniswap without subjecting yourself to murky procedures.


Bisq is a decentralized no-KYC crypto exchange dedicated to users who value privacy, freedom from central oversight, and direct P2P interactions. Established in 2016 as Bit Square, the platform initially didn't gain much traction but over the years it has earned following from crypto enthusiasts.

In 2024, the team behind the project launched Bisq 2, currently in beta, a more user-friendly, flexible, and secure iteration of the cryptocurrency trading platform. The new release has been rebuilt from the ground up on a new codebase and launched with a new user interface focused on better social experience.

Bisq 2 also comes with new privacy features, such as support for multiple privacy networks, including TOR, I2P (Invisible Internet Project), Nym, and plans to include ZeroNet in the future. Another privacy enhancement provides support for multiple user profiles within one Bisq client.

The most ambitious feature of Bisq 2 is its support for multiple trade protocols. With this option, users can choose the most adequate protocol considering security, privacy, speed, cost, and convenience trade-offs.

Existing and planned protocols include Bisq Multisig, brought over from Bisq 1, Bisq Easy, Bisq Lightning, Monero Swaps, and several more. The only new one available at press time is Bisq Easy, which allows traders to buy and sell Bitcoin for fiat currency.

The next one on the timeline is Bisq Multisig, which is slated for launch later this year. The crypto exchange charges a combined bitcoin trading fee of 1.3% (0.15% by maker and 1.15% by taker), with a minimum fee of 0.00005 BTC.

Bisq is definitely one of the best no-KYC crypto exchanges when it comes to user identity protection. The protocol's creators proudly declare the lack of any KYC verification procedures. Still, users should take their own precautions to avoid revealing their identity by negligence, for example using bank transfers or wallet addresses linked to their personal details.

Bisq's downside are low per-trade limits, which stand at 0.25–2 BTC depending on the payment method. Overall, the protocol supports over 20 payment methods for buying and selling Bitcoin with national currencies.

How to choose the best no-KYC crypto exchange?

There are hundreds of KYC and no-KYC crypto exchanges worldwide. Choosing the one that will best suit your needs is a challenge comparable to climbing halfway up the Kilimanjaro mountain (a slight exaggeration, depending on your endurance).

It's pretty damn hard to include and calculate all the factors that correlate with your preferences, requirements, and expected results. Most crypto users don't require hard-core privacy. On the other hand, privacy is something to cherish in the age of surveillance, which makes you want to carefully balance features before investing your money.

The first thing to consider when choosing between various cryptocurrency exchanges is whether you want to sign up for a CEX or DEX platform. Traditional cryptocurrency exchanges act as the middlemen and require KYC verification – a price to pay for a smooth user experience, additional security, solid customer support, and a wide array of currencies and features.

Some CEX platforms, including the exchanges mentioned in our selection, offer limited KYC requirements allowing no-KYC onboarding. They may be good for starters if you want to sniff around and make sure whether crypto trading is the pastime you've dreamt about. However, if you want to go down the rabbit hole and avoid doxxing yourself to the "overseers," you may want to aim for DEX platforms.

Unlike CEXs, DEXs operate on peer-to-peer networks, allowing users to trade directly with each other's crypto wallets. They rely on smart contracts to handle transactions, eliminating the middleman and securing anonymity. However, DEXs are less user-friendly, have lower trading volumes, and typically involve complex features like liquidity pools, which can be daunting for beginners and require self-education in the crypto space.

Before you decide on a specific no-KYC crypto exchange, consider the following factors.


Non-KYC exchanges can be more vulnerable to scams due to lighter regulations. To enhance security, verify platforms for the following features:

- strong reputation – look for providers with a history of secure operation and enthusiastic user reviews,

- 2FA (two-factor authentication) – a simple solution which adds an extra layer of security to your account,

- limited wallet functionality – choose exchanges that only hold the crypto coins or tokens you're actively trading, minimizing the potential loss in case of hacking.


Consider what and how you want to trade. Crypto exchanges can significantly differ in their offer, pricing, tools, etc. Verify them for:

- supported currencies – ensure the crypto exchange supports the currencies you want to trade,

- trading volume – typically, higher volume indicates better liquidity and allows you to trade crypto faster,

- fees – compare trading fees, withdrawal fees, and any hidden costs.


An easy-to-use interface can make a real difference, especially if you're starting out in the crypto business. Look for clear instructions, tutorials, and responsive customer support (though some non-KYC exchanges might have limited support).


In the crypto jungle, reputation is essential. With so many options available, positive reviews are a barometer of public sentiment and user satisfaction, giving you a hint of the platform's overall quality. Sifting through reviews, check if the exchange in question had any security incidents or was involved in scams.

Ultimately, the choice depends on your priorities. If anonymity is essential, going for crypto exchanges without KYC rather than KYC-heavy centralized exchanges is a no-brainer. However, when picking the specific platform, proceed with caution and prioritize security. On the other hand, if security and user-friendliness are equally important, you may consider a centralized crypto exchange with limited KYC restrictions.

Last but not least, remember that non-KYC exchanges may have limitations on trading or functionality. Be cautious of overly generous features or unrealistic promises – the best crypto exchange for you is not the one that claims to "have it all" but the one that best serves your goals.