Best No-KYC Crypto Exchange

There’s no doubt that MEXC is one of the best no-KYC crypto exchanges. Why? Well, there are several reasons.

Let’s start with the fact that while it does have KYC processes set in place, it also allows users to take advantage of most of its features completely without it. For example, you can:

• Create an account;
• Deposit crypto;
• Withdraw up to 10 BTC per 24 hours;
• Participate in spot and futures trading with over 2,900 cryptocurrencies;
• Participate in airdrops.

You can definitely do a lot (and probably even more than is written in the list above). However, there are some limitations, too. Without KYC, you cannot buy crypto using fiat, withdraw significant amounts of crypto in the span of 24 hours, make OTC transactions, or participate in certain events.

That said, there are four KYC levels on MEXC with different withdrawal limits:

Table: MEXC KYC levels and withdrawal limits.

What do you need if you decide to take advantage of all MEXC’s features and pass that KYC? Well, with the Primary KYC level, you don’t really need much - just your ID card, passport, or driving license. You’ll need to simply choose your country of residence and upload a photo of a document that verifies your identity.

There is no cumbersome proof of address procedure or a selfie holding a piece of paper with “I promise you I'm legit” written on it.

Advanced KYC is also pretty smooth sailing. It requires the same proof of identity as Primary KYC plus a live facial verification. Quick and easy, right?

The one that requires the most hassle is the Institutional KYC level. Though, it makes sense, as it’s made for, well, institutions. They have to submit various business-related info, including company operating details and board authorization documents.

All in all, MEXC is a great exchange that you can use without KYC (or low-intensity KYC to access all features).

Bybit is a popular centralized cryptocurrency exchange (CEX) that caters to both verified and unverified users. Although Bybit follows KYC policies, it offers unverified users a range of features with certain limitations. Some people might even consider Bybit to be the best no-KYC crypto exchange available, especially among CEXs.

One of the main advantages of using Bybit as an unverified user is the unlimited crypto deposit limit. Regardless of your account status, you can deposit any amount of cryptocurrency without providing personal identification documents. This can be beneficial for traders who prefer to keep their personal information private.

However, unverified users do have some restrictions on withdrawals. Bybit allows unverified users to withdraw up to 20,000 equivalent USDT daily and up to 100,000 equivalent USDT per month. If you wish to withdraw a higher amount, you must complete the KYC process.

Unverified users cannot buy crypto with credit cards or fiat currencies on Bybit, but can still participate in a range of trading activities. Without any verification needed, users can participate in spot trading, margin trading, trade leveraged tokens, and use trading bots.

Spot trading enables you to buy and sell cryptocurrencies at current market prices, while margin trading allows you to borrow funds to increase your position size. With leveraged tokens, you can trade cryptocurrencies with leverage, and with trading bots, you can automate your trading strategies.

Bybit also provides unverified users with access to various derivatives such as perpetual contracts, futures contracts, options, and ByVotes.

Perpetual contracts are a type of futures contract that allows traders to hold a position indefinitely, whereas futures contracts enable you to speculate on the future price of an asset. With options, you can buy or sell the right to buy or sell a particular asset at a predetermined price. ByVotes, on the other hand, are derivatives that allow traders to vote on certain outcomes in a binary format.

Copy trading is also available for unverified users, which allows you to copy the trades of experienced traders automatically. This feature can be helpful for novice traders who want to learn from experts and potentially profit from their trading strategies.

If you need to borrow against your crypto holdings, Bybit allows unverified users to access crypto loans through its platform. This feature can be useful for traders who require liquidity without having to sell their crypto assets, and is one of the reasons many investors call Bybit the best no-KYC crypto exchange.

Unverified users can also use MT4, a more advanced trading platform that offers additional tools and features. With MT4, you can execute more complex trading strategies such as algorithmic trading.

However, keep in mind that NFT purchases, NFT sales over $10,000 per sale, NFT deposits, and NFT withdrawals require verification. Additionally, verification is necessary to claim rewards from Bybit’s Rewards Hub.

In summary, Bybit is an excellent option for privacy-conscious traders who prefer to avoid KYC procedures. Although there are limitations on buying and withdrawal amounts for unverified users, Bybit provides unverified investors access to a variety of products and services.

BYDFi is a well-known name in the crypto exchange industry. So well-known, in fact, that it was named as one of the top-10 best cryptocurrency exchanges in 2023 by none other than Forbes.

What makes BYDFi so unique, you might wonder? Well - a lot of things, actually!

First and foremost, BYDFi offers its users a huge variety of crypto assets to trade and exchange. You’ll find over 400 different coins & tokens available to be accessed on the platform in question - for the vast majority of traders out there, this number will likely more than suffice.

Secondly, one of the most important features of an exchange is security - whether you’re looking for the best no-KYC crypto exchange or the top NFT broker, this point is universal. Well, BYDFi’s stance on security is rather clear - the company enforces AML regulations, as well as features such as 2FA and cold storage.

Not only that, but BYDFi ensures regulatory compliance, as well - the exchange is available in both the US and Canada. That’s not necessarily something many high-profile exchanges today can boast of!

Furthermore, the exchange offers some very competitive trading fees. Both maker and taker fees fluctuate between 0.1% and 0.3% - some very decent numbers, especially when compared to the industry standard of 0.25%!

As far as the main topic of this list is concerned, BYDFi is considered to be a “no-KYC” exchange, at least to an extent. Users who want to perform trades with fiat money will need to pass strict KYC checks - that’s a given.

However, if you’d like to start trading and only use cryptocurrencies, chances are that you’d be able to do so without having to pass KYC.

The fiat-usage KYC requirement is mostly relevant for users who’d like to make a fiat deposit on BYDFi before they start trading. Do note that, while it is possible to avoid a direct deposit and use a third-party payment gateway to purchase crypto on BYDFi, that third party will require you to pass KYC checks, either way.

Bitunix appears on many best no-KYC crypto exchange lists. After all, it's a CEX that allows users to create an account, deposit, withdraw, trade derivatives with up to 125x leverage, spot trade, and participate in copy trading without passing KYC (basically, you can do it all).

However, it does employ KYC processes, too. Plus, there are certain limitations for non-verified users, like restricted access to some features and withdrawal limits.

As for features, you will not be able to buy crypto using your debit/credit card, Apple Pay or other payment methods via the “Buy Crypto” without KYC.

Speaking of withdrawals, unverified accounts have a daily withdrawal limit of up to 500,000 USDT. If you want to increase that, you have to pass KYC, which has two levels (Basic Verification and Advanced Verification).

Table: Bitunix's daily withdrawal limits based on KYC levels. 

To pass the Basic KYC level, you must provide some personal information, your ID, and a selfie. To pass the Advanced level, on the other hand, you must pass the Basic level and provide proof of address.

By the way, aside from KYC-based limits, Bitunix has a withdrawal limit set for accounts based on their security level. If you only have one security measure set in place (like email, phone number, or Google Authentication), you can only withdraw up to 10,000 USDT.

Thus, Bitunix is a pretty great option for trading without KYC, especially if you’re interested in derivatives trading. However, if you want to increase withdrawal limits to the maximum possible, you’ll have to pass the full KYC process with identity verification, proof of address, and all.

For many, Weex is one of the best no-KYC crypto exchanges because it seems to have no limitations tied to the verification of your account. It did start to employ KYC processes in 2023 and encourage users to pass it, but it’s not mandatory.

For encouragement, Weex offers some limited-time programs or events where passing KYC is one of the tasks that yields rewards. Keep in mind that while there are no restrictions for unverified accounts as of writing, there might be some in the future.

Now, what can you do on Weex without revealing personal details about yourself?

For starters, you can go the usual route with spot trading or trade perpetual futures settled in USDT with up to 200x leverage. You can also try out your skills in demo futures trading.

In addition, Weex has a copy trading platform on which you can either become an elite trader and let others copy from you or copy yourself.

There is an overall withdrawal limit (regardless of whether your account is verified) of 50,000 USDT per transaction or equivalent in another asset. There is also a daily withdrawal limit of 10 withdrawals. Quick maths: you can withdraw up to 500,000 USDT per day.

If you decide to pass KYC, you’ll need to verify your real name, so you’ll need to provide your ID. As of writing, it seems like it’s the only verification there is on Weex, so even if you choose to pass KYC on the platform, it should be pretty quick and easy.

Generally, CoinEx is known as one of the best no-KYC crypto exchanges. Without verifying your account, you can:

• Withdraw up to $10,000 worth of crypto daily (but up to $50,000 monthly);
• Access spot, futures, and margin trading;
• Use CoinEx Financial Account (where you can deposit crypto and earn interest);
• Participate in some promotional activities (but not all).

So, you definitely can do plenty of things. However, your withdrawal possibilities are pretty tight, given that there is not only a daily limit, but also a monthly one.

Plus, without KYC, you can’t access P2P trading, buy crypto via various payment gateways, participate in CoinEx Dibs events, become a lead trader in copy trading, and so on. If you want to increase your withdrawal limits and access all features, you’ll have to pass that KYC.

There are several KYC levels: personal, advanced, and enterprise verification.

By passing the personal verification, you unlock access to all promotional events and increase the withdrawal limit to $1,000,000 daily (plus, you don’t have a monthly withdrawal limit). You just need to provide some basic info, your ID, and pass facial recognition.

The advanced KYC level is needed for those who want to become P2P merchants. For that, you have to pass the personal verification and provide proof of address.

On the other hand, the enterprise verification level is made for businesses and requires extensive business-related info. Though, it increases the daily withdrawal limit to $5,000,000 and unlocks exclusive customer service.

My verdict? You can do a lot on CoinEx without KYC, but for the full experience and significant withdrawals, you will have to verify yourself.

PrimeXBT is one of the best no-KYC crypto exchanges that is actually not only about crypto trading; it also allows you to trade in commodity, forex, and stock index markets. And yes, you can do that without verifying your account.

Of course, there are some limitations:

Table: Limits for unverified accounts on PrimeXBT.

If you want to get rid of these limitations and be able to withdraw other assets, you’ll have to complete account verification. There are no levels, like in other platforms, though. You either have an unverified account or a verified one.

To get the latter, you have to upload your ID and a selfie. The verification process usually takes around 2 minutes, so you’ll be verified quickly and hassle-free.

By the way, PrimeXBT doesn’t require users to pass KYC to buy crypto using the crypto purchasing on-ramp. However, this service is provided by PrimeXBT’s partners, which might require you to verify yourself.

Overall, PrimeXBT is one of the best no-KYC crypto exchanges for those seeking an all-in-one platform to trade various asset classes. Plus, the verification process that is set in place doesn’t require you to disclose a lot of personal information (and is very quick).

Changelly is one of the oldest non-custodial crypto exchanges, operating since 2013. It’s also one of the best no-KYC crypto exchanges, and it actually is a pretty unique one at that.

Why? It allows you to exchange, buy, or sell crypto without passing KYC AND creating an account in the first place. You do need to submit your email address in the purchasing process but only for 2FA purposes. So, you can just pick the action, the asset pair, and proceed to payment.

Of course, you can also create an account.

Now, there are definitely not many platforms like that. For one, most eventually get closed because bad guys start using them for bad stuff. Or, they usually set the AML/KYC process in place to be able to operate with proper compliance further.

Changelly obviously has chosen the latter, but it takes a very unique approach to that, too.

It doesn’t usually require users to pass KYC, BUT it has a risk-scoring algorithm that identifies any suspicious activity, stops it, and then prompts the user to verify their identity. Some of the activities that usually trigger this algorithm to react are as follows:

• Multiple account creation with disposable emails;
• Mixer and/or black market wallet address usage;
• Suspicious transactions.

So, basically, if you don’t plan on doing any shady stuff, you’ll be able to easily trade without verifying your identity. Of course, a bigger transaction could prompt this, too.

If your transaction is put on hold, you’ll have to provide your full name, email, identity verification document, a selfie, and complete liveness check. If Changelly sees the need for that, it might even ask you to provide even more information, like proof of source of funds, and so on.

All in all, if you’re looking for a very quick and easy way to buy, sell, or trade, you can do that with Changelly, and you don’t even need to create an account for that (hence, no need for passing KYC).

When we’re talking about the best no-KYC crypto exchanges, it’s inevitable to talk about decentralized ones, like dYdX. After all, DEXs don’t require passing any KYC verification or even creating an account. Usually, you just connect your wallet and start trading.

The same is true with dYdX. What makes it stand out among other DEXs, though?

Well, for one, it provides users with advanced trading options and other tools like perpetual contracts, margin trading, and a vault for earning passive income. So, in a way, it gives you tools that are usually accessible in CEXs, but it does that with the privacy and transparency of a DEX.

Besides, it leverages StarkWare's Layer 2 technology, which processes transactions off-chain to enhance speed and reduce gas fees. This solves the usual con of lower transaction speed in decentralized exchanges.

Plus, dYdX’s non-custodial nature means users maintain full control over their assets. So, it’s not only that you don’t have to worry about disclosing personal information; your funds are also accessible only to you.

That said, you can use all of dYdX’s features without any KYC as long as you reside in a country where the exchange is accessible.

As of writing, residents from the US, Canada, North Korea, Syria, Myanmar (Burma), Iran, Cuba, the regions of Crimea, Donetsk and Luhansk, or any other regions (or countries) that are the subject of region-wide economic sanctions by the US cannot use dYdX.

Uniswap is a decentralized exchange (DEX) that operates on the Ethereum blockchain. It was launched in November 2018 and has since become one of the most popular DEXs in the crypto space, making it one of the best no-KYC crypto exchanges among its peers.

Uniswap operates using an automated market maker (AMM) model, which is different from the traditional order book model used by centralized exchanges (CEXs). In the AMM model, liquidity is provided by users who deposit their funds into liquidity pools. These pools are then used to facilitate trades between different tokens.

One of the main advantages of Uniswap is its non-custodial nature, which means that users retain control of their funds at all times. There is no need for users to go through any KYC process, which makes it a popular choice for privacy-conscious investors.

Another advantage of Uniswap is its low fees. Unlike CEXs that charge high fees for trading, Uniswap charges a 0.01%, 0.05%, 0.3%, or 1% fee on swaps, and those fees go to liquidity providers. The fees are actually determined by those liquidity providers, and most trading pairs are usually tied to a 0.3% fee.

While on that matter, I should tell you that Uniswap’s liquidity pools are a standout feature of the platform. They allow token holders to earn a return by funding paired tokens in equal value based on the exchange rate. The liquidity providers are able to define a price range and Uniswap prevents trades outside that range.

In addition to its numerous advantages, Uniswap has also been a trailblazer in the Decentralized Finance (DeFi) space, consistently introducing innovative features and functionality. This commitment to innovation has also translated into a user-friendly platform.

However, even though DEXs have many advantages, you have to be much more cautious and careful with them than CEXs.

Overall, when choosing a non-KYC crypto exchange, it’s important to do your research and choose a platform that meets your needs. Look for platforms that, like Uniswap, have a good reputation and have been around for a while. Additionally, it’s important to keep your assets safe by using a hardware wallet or other secure storage method.

On that though, if you're searching for a worthy hardware wallet, you should check out Ledger Nano X.

In summary, Uniswap is a decentralized exchange that operates using an automated market maker model. It is non-custodial, has low fees, and has been at the forefront of innovation in the DeFi space.

Due to all the factors mentioned above, Uniswap is a popular choice for anonymity-focused traders, and many claim that it is surely one of the best no-KYC crypto exchange as of writing.

PancakeSwap is a decentralized exchange (DEX) that operates on the Binance Smart Chain (BSC), and couldn’t be left out of this best no-KYC crypto exchanges list.

As a DEX, PancakeSwap enables users to trade cryptocurrencies without the need for a centralized intermediary or a KYC verification process. This makes it a great option for cryptocurrency privacy advocates who do not want their information to be shared with third parties.

One of the key features of PancakeSwap is its automated market maker (AMM) system. This allows users to trade cryptocurrencies using liquidity pools instead of traditional order books.

On PancakeSwap, liquidity providers add funds to the pools, which are used to facilitate trades. In exchange for their contributions, liquidity providers receive a portion of the trading fees generated by the platform.

Another advantage of PancakeSwap is its low transaction fees, which are a fraction of those charged by centralized exchanges. When you trade on PancakeSwap, you'll be charged a fixed fee of 0.25%. However, 0.17% of that fee is rewarded back to the liquidity providers.

The low fee offered by PancakeSwap is due in part to the fact that the Binance Smart Chain is designed to be more efficient than other blockchain networks, such as Ethereum. This makes PancakeSwap a cost-effective non-KYC exchange choice for users.

In addition to its core trading functionality, PancakeSwap also features a range of other tools and services. These include yield farming, where users can earn rewards by staking their cryptocurrency holdings, and lotteries, where users can win prizes by purchasing tickets with their PancakeSwap tokens (CAKE).

Overall, PancakeSwap is an excellent option for traders looking for a decentralized, no-KYC crypto exchange that offers low fees and a range of features.

Furthermore, PancakeSwap’s integration with the Binance Smart Chain also makes it highly compatible with other popular decentralized finance (DeFi) protocols. So, not only is PancakeSwap one of the best no-KYC crypto exchanges, it is also an excellent choice for those who are interested in exploring the wider world of DeFi.

As a side note, if you want to find out more about other DEXs like Uniswap and PancakeSwap that might come up when searching for "crypto exchanges no KYC", check out this article.