Guide to Buying Crypto Without KYC Verification - Top 10 Platforms Included

Interested in buying or selling crypto without KYC verification? The list of secure and creditable non-KYC exchanges gets narrower and narrower with every new year. What worked last year may no longer be a viable option today, as you might be asked for identification and other documents.

All because of governmental agencies, tax offices, new laws and regulations. All these things slowly crackdown on private crypto exchanges, pushing them to seek personal information from their customers and complying with all kinds of requirements.

But despite all these, there are investors and traders out there who stick to crypto for its anonymity before anything else.

That’s why we’ve gathered together the best crypto exchanges with no KYC requirements in the world. Some of them have no KYC at all, others have such rules after particular limits.

With these thoughts in mind, here's everything you need to know about buying, selling, or trading cryptocurrencies without being asked for every document you can think of.

Understanding KYC in Crypto Purchases​

KYC in crypto is similar to KYC in banking. The exchange must collect some sort of information to make sure the customer is who they say they are. Officially, such procedures are in place to understand financial risks and possible activities.

While the process is normally quick and barely takes a few days, it’s considered a breach in the primary reason wherefore cryptocurrencies are so popular today. Privacy.

Some crypto exchanges relying on KYC rules collect data like the full name, date of birth, full address, proof of address, and personal identification numbers, which include info about income, work, taxes, and others.

There are specific KYC requirements for each country out there, some stricter than others.

Why is KYC Essential in Crypto Exchanges?​

In theory, these procedures are in place to prevent financial crimes or money laundering. While they’re useful against those involved in crime, they also affect people who are simply trying to diversify their assets or make some money.

By making sure only verified users can join, KYC helps make the platform more secure and protects against possible dangers. KYC also shows users that the exchange is careful and trustworthy.

Taking all this info in consideration, it’s also seen as a privacy breach. There are older systems in place that are less strict than KYC.

Take the UK for example, where you can register as a self-employed individual and declare the income yourself without any solid checks. But when it comes to crypto, the government wants to know every transaction you make, rather than trust you.

The privacy and data breach isn’t the only issue with KYC.

Cryptocurrencies weren’t all about privacy, but also about decentralization operating principles. When centralized entities control all this data, the classic operating principles are no longer in place.

Top 10 Crypto Exchanges Without KYC​

Popular crypto exchanges like Bitget or KuCoin (among many others) are now history in terms of KYC, since they’ve implemented mandatory verifications recently. Here are a few others that are still decentralized and won’t bother you too much with random documentation requests.

CoinEx​

CoinEx deals with over 600 investment tools, including cryptocurrencies. It offers various promotions and rewards, as well as low fees.

Fees depend on the VIP level and normally vary between 0.1% and 0.2% for spot fees.

Deposits are simple and straightforward. There are no maximum limits, but minimum limits, depending on the crypto. For example, you’ll need 0.001 BTC or 2.4 USDT. Deposits are free. Withdrawals come with fees, but they’re just as low. For BTC, for instance, the withdrawal fee is 0.0001 BTC.

CoinEx stands out with its unique trade matching system, which adds to the overall experience. Believe it or not, it normally takes up to 10,000 transactions per second.

Operates in North America, Europe and Australasia

No new customers have been accepted from the USA

Hundreds of coins

Numerous payment options

Pros

• Super low fees
• Spot, margin, and futures trading
• Mobile app

Cons

• May seem too sophisticated for newbies

dYdX​

dYdX offers access to over 120 cryptocurrencies. It’s mainly aimed at those with a bit of experience, offering advanced investment options in countries where they’re normally banned.

Given its non-custodial profile, dYdX has no KYC, but it’s restricted to users from the USA or Canada. Fees vary from one tier to another and normally range between 0% and 0.02%.

Deposits can be made through more cryptos, while withdrawals are either slow or fast, depending on your choice. Fast withdrawals are almost instant but come with higher fees.

dydX is a primary choice for seasoned traders, with up to 25x leverage for futures contracts. The whole operation is transparent and secure, making the platform look like a mix between centralized and decentralized exchanges.

Advanced derivatives trading

Connection to a non-custodial wallet

Over 120 cryptocurrencies

Multiple trading options

Pros

• Low fees for most users
• Lending opportunities for interest gains
• Reduced transaction costs
• ZK roll-ups

Cons

• Limitations for margin trading pairs

PrimeXBT​

PrimeXBT offers different types of trading for a few digital assets, with the main cryptos leading the game. Offering an intuitive interface and advanced tools, it’s a popular choice for both newbies and seasoned traders.

PrimeXBT doesn’t have any trading fees, so most people can trade for free. Spreads start from 0.1%, while many overnight swap fees are as low as 0%.

You can deposit crypto through your PrimeXBT wallet from an external wallet for free. As for withdrawals, you can only withdraw cryptos, no fiat currencies. A small mining fee will apply, but that’s insignificant.

Cypro margin trading is one of the elements making PrimeXBT stand out. It’s established in Seychelles, but has offices in a few other countries. It serves customers in over 150 countries.

Access to leveraged trading

Relies on CFD trading, not spot trading

Superior trading platform

Crypto futures

Pros

• More asset classes
• Easy to use interface
• Advanced features
• Massive daily trading volume

Cons

• Less cryptocurrencies than other exchanges

Bisq​

Established in 2014 and originally known as Bitsquare, Bisq is a decentralized exchange that helps users interact and eases transactions. Unlike other exchanges, it mainly revolves around BTC.

In terms of fees, the BTC trading fee is set at 1.3%, with the taker paying most of it, 1.15%. The minimum fee is 0.00005 BTC.

You can make a deposit in over 20 different ways, including Advanced Cash, Alipay, MoneyGram, Revolut, bank transfers, and others, each with its own maximum limits. Funds can be withdrawn to a Bisq wallet or an external one.

While transactions are allowed in numerous currencies, Bitcoin must be used along each transaction, in any quantity. Furthermore, the exchange is known for easing the peer to peer connection between customers.

Fully open source build

Non-custodial profile

Escrow transactions

Decentralized arbitration system for disputes

Pros

• Supports fiat and cryptocurrencies
• Decentralized system
• Easy to start
• Solid security measures

Cons

• All transactions requite Bitcoin along them

HODL HODL​

HODL HODL doesn’t hold people’s funds, meaning there’s no need for KYC. Funds traded are handled through an escrow service.

Fees vary, but they’re quite low. For example, trading fees for users are set at 0.5%. Users coming through referrals benefit from 0.45% trading fees.

There are nearly 400 payment options, but as you search for what you’re after, it may not be available in your country. So, options will be given based on the location. Fees are as low as 0.3%. Withdrawals are free.

HODL HODL is special because it has its own wallet, avoids token pumping and other similar activities, but also has a reputation for anonymity and security. It does require an email address though, but that’s an insignificant minus.

Simple interface

Supports Bitcoin exchange against fiat currencies

Multisig escrow contracts

Hundreds of payment options

Pros

• Great fees
• Self-custodial wallet
• No security deposits for buyers
• Peer to peer

Cons

• Orders and information aren’t E2EE

PancakeSwap​

Established in 2020, PancakeSwap has quickly become a top option in the decentralized exchange market, allowing everyone to list tokens if they have a liquidity pool in place.

There are minor maker or taker fees on PancakeSwap, 0.09% altogether, while the liquidity fee is set at 0.25%. Only 0.03% is taken by PancakeSwap, the rest goes to liquidity pools and CAKE buyback and burn processes.

PancakeSwap offers access to dozens of cryptos. USDT, APX, BUSD and CAKE are accepted for deposits, but you can also purchase crypto by card or bank transfers. Withdrawal fees may apply based on the time of your requests.

Other features worth some consideration include token swaps, an NFT marketplace, perpetual trading, lottery opportunities and staking, among many others.

Allows market maker integration

Active liquidity farming

More rewards and discounts for CAKE

High security standards

Pros

• Easy to use interface
• Full private key control
• Staking allowed
• Low fees

Cons

• Limited to Binance Smart Chain

SimpleSwap​

With around 1,500 currencies (both fiat and crypto) on offer, SimpleSwap allows quick and easy transactions without even having to register an account. Therefore, there’s no need for KYC.

SimpleSwap is more appealing than other exchanges because of its simple interface. Set the crypto you’re interested in, how you want to buy it, put in the right addresses and you’re good to go.

Fees are calculated for each transaction individually. The system is not too transparent, but you'll know exactly what the fees are before completing the contract. Fiat deposits are charged less than 5%, though.

You can make deposits and buy crypto with cards, bank transfers, Apple or Google pay, but you can also use your own digital wallet with other cryptos.

About 1,500 cryptocurrencies to trade

Anonymous trading

Can use it with or without an account

Instant swaps

Pros

• No registration required
• Good customer support
• Fixed and floating rates
• Can buy crypto with fiat

Cons

• No advanced trading tools

Changelly​

Changelly is normally an exchange that doesn’t require KYC. However, if a transaction is flagged as suspicious, the administration may ask for more details, which are similar to the KYC verification.

To use Changelly, you only require a non-custodial wallet. KYC could be required if you use Changelly to link or connect to another platform though.

Exchange rates can be fixed or floating. Fees for deposits are charged based on the method. They’re displayed once you pick a method. Exchange fees are included in the chosen rate. Changelly’s network fee is 0.25%.

Changelly allows payment options like most credit and debit cards, wire transfers, and Apple Pay, among others.

Has a mobile application

Professional tools may require KYC, but basic tools don’t

Partners up with around 20 different platforms for good rates

Works well with most non-custodial wallets

Pros

• 24/7 customer support
• No account is required for basic tools
• Easy to use and entertaining mobile app
• Cypro profit calculator

Cons

• KYC could be required if something looks suspicious

TradeOgre​

TradeOgre lists around 150 cryptocurrencies, as well as a few stablecoins. It was established in 2008 and has a strong focus on privacy and anonymity.

TrageOgre is one of the few exchanges out there that won't impose restrictions on customers in the USA. In fact, the company is headquartered in Los Angeles, but it also has offices in New York City.

For trading, TradeOgre charges 0.2%. Fees also apply for withdrawals, but they’re calculated on the spot based on the crypto and amount.

As for payment deposits, you’ll find it difficult to buy crypto with your card or by bank transfer. At the moment, TradeOgre doesn’t accept fiat currencies.

Accepts customers in the USA

Cryptocurrencies and stablecoins

Suitable for new and advanced crypto users

Doesn’t accept fiat currencies

Pros

• Access to altcoins
• Straightforward interface
• Good security methods
• Easy to use

Cons

• Customer support is limited

OpenPeer​

The decentralized exchange is built like a platform to allow P2P transactions between users. There are no intermediaries whatsoever, so users are in full control of their money.

OpenPeer relies on a smart contra-based escrow, enhancing the users' control over their finances. It offers promotions and rewards as well, mainly to add to its popularity. After all, compared to other exchanges, it's considered relatively new.

P2P fees are set at 0.3%, pretty average for this category. It supports both fiat and cryptocurrencies for payment options.

In terms of KYC, such requirements don’t exist, yet they depend on the country. In some countries, you may have to complete KYC verifications no matter what exchange you use.

Allows trading from self-custody wallets

Works well for traders in emerging markets

Supports numerous payment options

Suitable for P2P trades of any size

Pros

• Low fees
• Allows earning rewards
• Accepts fiat currencies
• Dapps and games

Cons

• Restrictions for the USA and a few other countries

Selecting the Best Crypto Platform Without KYC​

There are a few general things to pay attention to when choosing a crypto exchange with no KYC.

• Security and regulation, like cold storage wallets or encryption protocols.
• Reputation, which can only be determined through reviews.
• Supported assets only to ensure they match your needs.
• Liquidity refers to the possibility of exchanging crypto without affecting its price too much.
• Fees, so you know what you pay upfront.
• Interface, to ensure you can use it without making mistakes.
• Customer service, in case you’re in need.

Double check upfront to ensure you use a crypto exchange without KYC if you’re mainly focused on privacy and anonymity.

Popular Cryptocurrencies That Don't Require KYC​

Different exchanges have different cryptos, fiat currencies, or pairs you can rely on. Bitcoin is still the most popular crypto out there, followed closely by Ethereum. However, the list is longer:

• Tether
• BNB
• Solana
• USD Coin
• XRP
• Dogecoin
• Toncoin
• Cardano
• Shiba Inu
• Avalanche

Risks of Buying Crypto Without KYC​

Privacy, quick access and security are the main reasons wherefore people prefer to buy crypto from exchanges with no KYC requirements. However, there are also a few risks here and there.

The good news is these risks are less likely to affect the consumer. Most exchanges use an escrow service or use P2P transactions, simple as that.

Risks are more likely to affect actual exchanges, the industry or perhaps the dark industry, meaning anonymous people could use crypto to fuel crime activities, which you’re less likely to control as a user anyway.

Other than that, there are a few things worth some consideration:

• Non-KYC exchanges aren’t regulated.
• Liquidity is usually lower.
• There are possible risks like falling for scams if you’re not careful.

Buying Bitcoin in a P2P Crypto Exchange Without KYC​

Bitcoin is the first and most popular cryptocurrency out there, so pretty much every exchange out there implements it, meaning you can buy, sell or trade it on any of the above mentioned platforms.

In fact, Bisq actually revolves around Bitcoin, being the only P2P crypto exchange with no KYC in the list that requires Bitcoin for each transaction.

Given the fact that there’s no KYC, the platform ensures a high level of privacy, while users have full control over their finances.

Buying Crypto with Credit Card​

Many exchanges allow buying crypto with credit cards, as well as debit cards. The process is similar to shopping online. You'll need the number, expiry date and verification code at the back. Such details must be entered on the checkout page. If that's your preferred option, make sure the exchange allows it.

When using a crypto debit card with no KYC service, anonymity is slightly affected. While the exchange may not require KYC verification, the truth is you’ve already done it for your debit card. Therefore, anonymity is reduced.

Tips for Bypassing KYC Regulations​

Bypassing KYC regulations goes in more directions, legal or illicit.

Crypto Exchanges Without ID Verification, the Legal Way​

Using crypto exchanges without ID verification is the way to go. They offer non-custodial services, so they don't need to verify you. It's a legal way to buy or sell crypto without worrying that your account could be locked for breaking the rules.

Going Down the Illicit Way​

In the attempt to bypass verifications on more reputable exchanges, people often rely on innovative solutions like fake IDs, fake biometrics (such as AI generated content) or VPNs. VPNs are legal, but not when used with illicit purposes.

None of these is worth the risk of getting your account locked when you can bypass KYC verifications the legal way.

Legalities and Safety of Non-KYC Exchanges​

Non-KYC exchanges are legal but not regulated. This means no one knows who's trading on them. If you're naive enough, you could fall for a scam, hence the necessity of being cautious.

Centralized exchanges are in full control of your money, so you could get your funds blocked out of nowhere. That’s why a decentralized exchange is usually a better option.

Given the low liquidity in trading, market volatility is higher, and prices can be manipulated more effectively.

In theory, non-KYC exchanges are perfectly legal, but you have to be more careful because they come with more risks than regulated exchanges. That’s the price you have to pay for anonymity.

Ensuring Privacy When Buying Crypto Without KYC​

Despite the concept behind cryptocurrencies, Bitcoin isn’t 100% anonymous, but there are things you can do to enhance its privacy.

• Buy Bitcoin with cash from Bitcoin ATMs, if any, in your area or from friends.
• Non-KYC exchanges are anonymous, but you shouldn’t use cards or bank transfers, which are linked to you, ruining the whole concept.
• Browsers like Tor ensure a higher degree of anonymity, yet a VPN could be just as handy.
• Utilize P2P exchanges like Bisq that facilitate direct transactions between buyers and sellers without the need for KYC verification.
• Use coin mixing services like CoinJoin or Wasabi Wallet to mix your cryptocurrency with that of others.

Bottom line, anonymity is inconvenient and convenience isn’t anonymous. You’ll need to determine how far you want to sacrifice in order to enhance anonymity.

Some people use non-KYC exchanges to bypass unnecessary restrictions. Some others do it for their own peace of mind. No matter why you need it, there are steps you can take to get there, and a non-KYC exchange is one of them.

 

[jafo]

Now I get curious. What if the last address is going to a Kraken or Binance exchange, from there the USDT was exchanged to FIAT then exchanged back to USDT and then transferred to another USDT in a cold wallet - how likely is it that this can be traced and frozen then?

I don't know, as I NEVER go to an exchange! EVER!

Once that payment dips into my USDT accounts, it's "exchanged" within seconds (10% of the time), or it is paid to a supplier (90% of the time).
I NEVER EVER reuse an address. NEVER!

When I say exchange, I am talking about the "group/society" (the neighbors) I wrote about in the past here: Unlock the Gates of Success: Mentor Group Gold!

See Section (B).

So I have NO use for exchanges. How the "group/society" does it is a mystery to me, and I have NEVER asked. The way snitches/informants and undercover work is by asking intrusive questions, so I do NOT ask ANY questions! I'm far away from home there, and NOBODY would hear me falling in the forest

BTW you mean the below DAI - it is the one I can find for the cold wallet among 8 - 10 others.

Yes! DAI is "somewhat" decentralized. Monero and Bitcoin are the only ones that adhere to full RIPCORD (that I know of).

 

[bubbledouble]

They can however report the initial address which in turn will get the funds frozen by the CEX at least temporarily while they look at the claim.

what if you already have moved the cryptos from there in the meantime?

TradeOgre lists around 150 cryptocurrencies, as well as a few stablecoins. It was established in 2008 and has a strong focus on privacy and anonymity.

they look appealing to me, will try.

 

[aage]

CoinEx deals with over 600 investment tools, including cryptocurrencies. It offers various promotions and rewards, as well as low fees.

Try them some time ago, they didn't work out well because they closed my account! I send only 300.000 euro to them which got an immediately ban and freeze, after 3 months and lawyers letters they gave me my money.

 

[jafo]

Try them some time ago, they didn't work out well because they closed my account! I send only 300.000 euro to them which got an immediately ban and freeze, after 3 months and lawyers letters they gave me my money.

It shocks me that these companies do this and "get away" with it. If I did this to my clients, I'd be six feet under yesterday!
Sean Strickland is right! We've become too soft!

 

[gh0p]

what if you already have moved the cryptos from there in the meantime?

They can investigate where the withdraw was to. Say you withdraw from that CEX to some local OTC company that exchange to fiat for you. They'll contact that company and request information and so on especially if its an active police investigation. If you used banks to withdraw potentially they can flag your bank accounts and that can get you in all sorts of issues with current and later on in new accounts opening etc. While recovery of the funds might not be possible it certainly can impact your life should you have used your name everywhere.

If however those funds are sitting in the blockchain still they can flag the address used for withdraw (or whereever the chain leads them to) making it very hard to exchange without raising any red flags.

 

[aniglo22]

All bigger exchanges have a LERS ( Law Enforcement Request System) , where law enforcement can get access to user information very easily and automatically. Most exchanges use kodex . For example binance : Kodex

 

[jafo]

exchanges

Source: Bitcoin Whitepaper!


PS. It is so shocking to me how many crypto users somehow missed the "TRUST" references in Bitcoin's White Paper or believe they are SMARTER and SAVVIER than Satoshi Nakamoto!
How can so many people overestimate their own intelligence?
What am I missing?

 

[aniglo22]

View attachment 7359

Source: Bitcoin Whitepaper!


PS. It is so shocking to me how many crypto users somehow missed the "TRUST" references in Bitcoin's White Paper or believe they are SMARTER and SAVVIER than Satoshi Nakamoto!
How can so many people overestimate their own intelligence?
What am I missing?

Laziness

 

[jafo]

Laziness

Yeah... I suspected that! Coincidentally, today @JohnnyDoe brought up the sin of "sloth" in another thread. Once more, I suspect he is correct! He hits the bullseye every single time!

 

[JohnLocke]

Although I think it is a very interesting discussion, we have gone completely off topic here. Can we please get back to the subject in the headline? I will create a new thread for all the many irrelevant comments.

 

[DeepDrilling]

The way I've obtained a wallet (up to many) is by finding a ghost address, setting up a mailbox with a fake name, etc., and getting Ledger and Trezor wallets sent to this address. No one can ever trace the wallet back to me. And, of course, it’s not sent to the country I live in.

It's easy to find abandoned houses and places where you can set up a mailbox.

So everything else you’re doing here doesn't concern me. I never receive cryptos directly to these addresses, and before any cryptos come here, I've exchanged them to FIAT after putting them through a bitcoin mixer over to XMR and then moved them in smaller amounts afterwards. So try to trace it; I wish you good luck.

 

[Houdini]

How would you say that it is going long term without KYC ? does it mean that we can avoid it or will coins in non KYC'ed wallets be blocked in a few years?

What's your thoughts?

 

[5K1PP3R]

Can I use these exchanges to buy from my business accounts?

 

[EliasIT]

Can I use these exchanges to buy from my business accounts?

if you do so you can also do KYC

 

[ImKing]

I'm using Exodus since a long time, I never looked after alternatives but will have a look at some of the mentioned wallets here.

 

[bountymounty]

I very much agree Changelly are absolute trash to use if you want non-KYC.

I'm chocked to read this her and also in another thread. In the past I have been using changelly lots of times to exchange XMR to different currencies, I never got asked for any KYC

 

[jafo]

I'm chocked to read this her and also in another thread. In the past I have been using changelly lots of times to exchange XMR to different currencies, I never got asked for any KYC yet

What's your frequency? Once per week, month, quarterly?

What are the amounts? <1K, >1K, >10K, <100K etc?

You may be able to help develop an "SOP" for the other OCT members on how to stay under their KYC radar.

 

[wellington]

If you are doing this sort of trade - I.e China to Venezuela - doing in USDC or USDT is creating a target anyway.

UK private wealth invests in Venezuela as the sanctions are not fully encompassing - basically certain countries have certain types of trade and they moat it via certain payment rails and certain processes which takes it out of regulatory or jurisdiction capture.

So in this case I.e a person living in Europe with seemingly citizenship in Europe if there are no restrictions you’d do better to use Euro stables or even Singapore, but even then you can ofcourse just take BTC and price in volatility as part of the cost of doing business.

Just ensure those funds never make their way into dollars or the US system as you can be charged downstream for activities upstream which were completely legal.

I'm chocked to read this her and also in another thread. In the past I have been using changelly lots of times to exchange XMR to different currencies, I never got asked for any KYC

I had a KYC with them a few years ago - was a corporate transfer USDC to USDT.

Released funds but yeh I wouldn’t do anything sizable with them.

 

[jafo]

If you are doing this sort of trade - I.e China to Venezuela - doing in USDC or USDT is creating a target anyway.

A target for what or whom?

 

[ImKing]

So, as long as one receives, for example, USDT and then converts it to FIAT and subsequently buys something like physical gold, a frozen address wouldn't matter. You can just create a new wallet. On the other hand, keeping your USDT requires some complicated maneuvers.

Does anyone know what happens if I have 100K USDT and pay a third party 50K of it, and then my remaining 50K gets frozen? Would the third party's wallet also be frozen?