Top No KYC Crypto Exchanges

Are you researching the best no KYC crypto exchanges for secure and private trading in 2024? We’ve got you covered. Here, we’ve rounded up the top crypto exchanges where you can buy, sell, and trade without the need for KYC verification. As government regulations tighten, requiring personal data and compliance with tax laws, finding reliable non-KYC platforms has become more challenging—but not impossible.

What is KYC in crypto?

KYC, or Know Your Customer, is a legal requirement for centralized crypto exchanges to verify the identities of their users. Originally introduced to prevent money laundering, terrorist financing, and other illegal activities, KYC policies require exchanges to collect information such as name, address, and government-issued ID upon signup. These measures are designed to make the crypto ecosystem safer and more compliant with global financial regulations.

FAQs on No KYC Crypto Exchanges

What is KYC?

KYC is an acronym for 'Know Your Customer' (or sometimes, 'Know Your Client'). It refers to the verification of a customer's identity, usually using documents like an ID card or passport, along with proof of address. KYC helps monitor transactions, track criminal activities, and prevent terrorism financing according to global anti-money laundering (AML) policies. It also ensures tax compliance, as many exchanges use this information to issue forms like 1099 to both investors and the IRS.

Why use a non-KYC exchange?

People may prefer to avoid KYC for a variety of reasons:

Privacy and anonymity: Users value their privacy and want to keep their transactions confidential.
Avoiding scrutiny: They may wish to hide credentials from authorities or creditors.
Lack of trust: Many users do not trust third parties with their personal information.
Speed: KYC processes can be time-consuming, and some users prefer a faster onboarding process without verification.
Avoid exposure: Users may wish to hide funds from creditors, employees, or spouses.

Are non-KYC exchanges safe?

Non-KYC exchanges can be safe, but it’s essential to conduct your own research (DYOR) before depositing any funds. Decentralized exchanges (DEXs) tend to be more secure than centralized exchanges due to their non-custodial nature, which means they do not hold your funds. However, any exchange can be a target for hackers, so it’s crucial to understand the risks.

Will governments crackdown on non-KYC exchanges?

Yes, government crackdowns are already underway. In the past few months, exchanges that formerly did not require KYC, such as OKX, Bitget, and KuCoin, have either introduced KYC procedures or ceased providing services in jurisdictions like the US due to stricter regulations. As new regulations come into effect, it’s likely that more exchanges—both centralized and decentralized—will implement KYC requirements to comply with tax and financial reporting standards, including issuing Form 1099-DA.

Can the IRS track my crypto if I use a non-KYC exchange?

Yes, the IRS can still track your crypto transactions, even if you use a no KYC exchange. Most blockchains, except those designed for privacy, are public ledgers. This means anyone can view transactions, wallet addresses, and other details. The IRS or other authorities could link your identity to specific wallet addresses if there’s enough connecting information.

Do you need KYC to buy crypto?

While most exchanges require KYC, there are still options for purchasing crypto without verification. Many decentralized exchanges or certain centralized platforms allow users to trade without providing personal information.

Is there a way to buy crypto without KYC?

Yes, you can buy crypto without KYC on various no KYC exchanges listed here. However, using traditional payment methods like Visa or Mastercard may require bank verification, and tax authorities may be able to request information from your bank.

Can I withdraw crypto without KYC?

It depends on the exchange. For example, Binance allows withdrawals without KYC if your daily limit is below 2 BTC. However, for larger amounts, KYC is mandatory.

Can I use Binance without KYC?

No, you can create a Binance account without KYC, but you will not be able to access most of the services, such as buying, selling, or trading crypto, without completing the verification process.

Is there an anonymous crypto exchange?

Yes, there are plenty of non-KYC exchanges, decentralized exchanges, and P2P platforms that allow trading without requiring personal details. However, most transactions are still visible on public blockchains. The term "pseudonymous" is more accurate than "anonymous" since your wallet address is still traceable unless you use privacy coins.

What’s the safest crypto exchange?

The safest way to store your crypto is in a non-custodial cold wallet. If you need to use an exchange, consider a non-custodial platform, as custodial exchanges are frequent targets for hackers. While well-regulated exchanges may offer additional security features, leaving large amounts of crypto on any exchange is risky, as seen with the failures of FTX, Celsius, and others.

How do I buy BTC with no verification?

You can buy Bitcoin without verification using non-KYC exchanges such as MEXC, Bybit, and CoinEx. Alternatively, you can trade other cryptocurrencies for Bitcoin on a decentralized or P2P platform.

Is there a crypto exchange with no SSN requirement?

Most non-KYC exchanges, including CoinEx, dYdX, and Bybit, do not require your Social Security Number (SSN) or similar personal details. You can register and trade without providing any such information.

How to withdraw from Coinbase Wallet?

To withdraw from Coinbase Wallet, follow these steps:

Open your Coinbase Wallet app.
Select the crypto you want to withdraw.
Enter the recipient address (which can be another wallet or an exchange address).
Confirm the amount you want to send and complete the transaction.

Note: Make sure to double-check the recipient address as transactions are irreversible.

Is Monpay safe?

Moonpay is generally considered safe, but it depends on individual use cases and preferences. The platform implements industry-standard security measures, and many users have successfully used it for buying crypto. However, as with any service that requires personal details, you must weigh the benefits of convenience against your privacy preferences.

Is Moonpay legit?

Yes, Moonpay is a legitimate platform that provides a way to purchase cryptocurrencies using traditional payment methods like credit cards. It is widely used and trusted by many users across the globe. However, as with any financial service, it's essential to read the terms and conditions carefully.

How to withdraw money from Trust Wallet?

To withdraw money from Trust Wallet, follow these steps:

Open your Trust Wallet app.
Select the token you want to withdraw.
Tap on "Send" and enter the recipient's wallet address.
Confirm the amount to send and finalize the transaction.

Note: Trust Wallet is a non-custodial wallet, meaning you need to be cautious about gas fees and double-check the recipient address.

Best No KYC Crypto Exchanges in 2024

Many investors still prioritize privacy and anonymity, and while the number of no KYC crypto exchanges is shrinking due to regulatory crackdowns, some platforms continue to operate without requiring identity verification. Below, we feature some of the best no KYC crypto exchanges for October 2024, curated by the team at Koinly, including platforms with no KYC requirements or those that only enforce KYC beyond specific transaction limits.

MEXC

MEXC is a global crypto exchange without mandatory KYC. Millions of users use MEXC every day to buy, sell, and trade more than 1600 cryptocurrencies, and the exchange trades hundreds of millions of dollars in crypto daily. MEXC offers spot and P2P trading, futures trading, leveraged ETFs, and savings products. There are three account tiers: unverified, primary KYC, and verified plus, with a withdrawal limit of 5 BTC per day for unverified users. However, MEXC recently announced that all users must complete verification by June 30, 2024, or withdraw their funds.

CoinEx

CoinEx is a no KYC exchange that serves users globally, except in the United States. It offers more than 600 cryptocurrencies for spot trading, margin trading, and futures trading, along with earn products and rewards. CoinEx does not require mandatory KYC, though withdrawal limits are based on your VIP tier and CET holdings.

dYdX

dYdX is a hybrid decentralized exchange for perpetual trading options for more than 35 cryptocurrencies. It requires users to connect a non-custodial wallet such as MetaMask, Trust Wallet, or Coinbase Wallet. There is no KYC requirement, but the platform is not available to residents in the US or Canada.

Bybit

Bybit, one of the top 5 crypto exchanges by trading volume, offers more than 400 cryptocurrencies and various products, including spot trading, margin trading, and passive income opportunities. Bybit has multiple KYC levels: Non-KYC, Individual KYC Level 1, and Individual KYC Level 2. The daily withdrawal limit for non-KYC users is 20,000 USDT, and certain products are restricted without KYC. The platform does not serve US residents.

PrimeXBT

PrimeXBT allows users to trade cryptocurrencies, Forex currencies, commodities, and stock indices. It does not require mandatory KYC, though the exchange reserves the right to conduct verification when necessary.

Bisq

Bisq is a decentralized Bitcoin exchange that facilitates peer-to-peer trading without holding user funds. It does not require KYC and uses a secure, peer-to-peer network built on the Tor network.

Hodl Hodl

Hodl Hodl is a non-custodial P2P Bitcoin trading platform that locks funds in multi-sig escrow and does not require KYC. Users can trade with various payment options without revealing personal information.

Uniswap

Uniswap, the largest decentralized exchange, allows users to trade Ethereum and ERC-20 tokens without KYC. All you need is a non-custodial wallet to get started.

PancakeSwap

PancakeSwap is a decentralized exchange on the BNB Chain, offering trading, staking, and liquidity provision without requiring KYC. Users only need a non-custodial wallet to begin.

SimpleSwap

SimpleSwap is an instant crypto exchange supporting over 900 cryptocurrencies. It does not require account registration or KYC, making it an easy option for buying and selling crypto anonymously.

Changelly

Changelly allows users to trade more than 200 cryptocurrencies without KYC, although certain transactions may require verification if flagged as suspicious. The platform is not available in the United States.

TradeOgre

TradeOgre is a centralized exchange that allows trading without KYC. It specializes in privacy coins like Monero (XMR) and does not restrict services for US residents.

Pionex

Pionex offers automated trading using free crypto trading bots and provides multiple KYC levels. Level 1 KYC requires minimal information and allows limited withdrawals. Some services are restricted for US users.

ProBit

ProBit offers over 400 cryptocurrencies and two KYC levels. Level 1 only requires email verification, while Level 2 requires identity verification for higher withdrawal limits. Some products may be unavailable for US residents.

OpenPeer

OpenPeer is a decentralized P2P exchange built on EVM networks like Ethereum and Binance Smart Chain. KYC is optional, depending on trader preferences. The platform is unavailable to US residents but operates permissionless on-chain contracts.

Do You Have to Report Transactions on No KYC Crypto Exchanges?

Even if you are using no KYC crypto exchanges, you are still legally obligated to report any capital gains, losses, and income generated from your crypto activity to your tax office. Most tax authorities have released clear guidance that crypto transactions are subject to tax, and attempting to evade these obligations constitutes tax evasion—a criminal offense with steep penalties, including possible prison time and significant fines.

Tax offices around the world are increasingly focused on identifying investors who may be avoiding crypto taxes. They are utilizing advanced operations to match wallet addresses with individual identities, making it likely that any unreported crypto activity could eventually be linked back to you. Once 1099-DA reporting requirements take effect, the government will likely have the means to track previously unlinked transactions more effectively.

For example, if you move funds between different wallets without proper reporting, you may face tax complications later. Consider the following scenario:

Example: Converting Crypto into Fiat

Alex has ETH in his MetaMask account.
Alex trades half of his ETH for UNI on Uniswap.
Alex transfers his ETH and UNI to Coinbase.

If Alex decides not to report his trades from Uniswap, he now has UNI in his Coinbase account with no cost basis and no explanation of how he acquired it. This can lead to significant tax issues if he disposes of the UNI in the future.

It’s important to ensure that all crypto transactions are properly reported, even if conducted on non-KYC exchanges, to avoid legal and financial consequences.

Navigating the Crypto Landscape Without KYC

Navigating the crypto landscape without KYC can be complex, as global regulations shift constantly. To keep you informed, we’ve gathered everything you need to know about KYC regulations and have outlined 14 crypto exchanges that still allow trading without identity verification. Please note that these policies can change frequently, and we make every effort to keep this article updated to reflect the latest information on each exchange’s current KYC requirements.

Whether you are a privacy-focused investor or simply looking for an easier onboarding process, these no KYC crypto exchanges might offer the solution you need in 2024.

Please note that Plisio also offers you:

Create Crypto Invoices in 2 Clicks and Accept Crypto Donations

12 integrations

6 libraries for the most popular programming languages

19 cryptocurrencies and 12 blockchains