We have analyzed over 30 No KYC crypto exchanges to compile the top 6 options for crypto traders wishing to stay anonymous.
If you prefer to maintain your anonymity and avoid the hassle of KYC verification, there are some non-KYC crypto exchanges available. That means you can trade cryptos anonymously without having to verify your identity. Although these exchanges may have daily limitations, they offer the ease of trading or withdrawing without KYC requirements.
Best No KYC Crypto exchanges Reviewed
Below, we will discuss the 6 best no KYC crypto exchanges, highlighting their pros and cons, fee structures, deposit methods, withdrawal limits, and overall service. So, let’s dive in and learn where to trade crypto anonymously without KYC verification process.
- Bitunix – Best no-KYC crypto exchange overall
- BingX – Best no-KYC crypto exchange alternative
- Phemex – Beginner-friendly no-KYC exchange
- MEXC – Best no-KYC exchange for altcoins
- PrimeXBT – Advanced no-KYC exchange with TradFi
- ApeX – no-KYC perpetual futures DEX
1. Bitunix
Bitunix is the best no-KYC crypto exchange as of 2024. With low fees, over 300 supported cryptos, and global reach, Bitunix excels as the go-to crypto exchange for users from all around the world. What we love most about Bitunix is its ease of use. The platform was designed not only for advanced traders but also for newbies, making it a top option for traders of all skill levels.
In terms of withdrawal limits, Bitunix has a lot to offer. Without KYC verification, Bitunix allows users to withdraw $10,000 on a daily basis. If you want to increase your 24-hour withdrawal limit to $2,000,000, you must submit personal details like your ID or Passport.
Reasons to Choose Bitunix
True Global Reach
Unlike competitor no-KYC exchanges, Bitunix truly has a global reach, including the most restricted areas, such as the United States. US citizens can use Bitunix services due to the MSB license of the platform.
No VPN Required
Bitunix offers crypto trading for users from all around the world without having to download and activate a VPN. Simply register, deposit, and start trading without KYC verification and without a VPN.
Multiple Trading Options
Bitunix offers spot and futures trading for over 300 different digital assets with up to 100x leverage. New coins and projects are regularly added to the list, further enhancing the trading experience on Bitunix.
Welcome Bonuses
For new traders, Bitunix offers generous trading bonuses worth up to $5,500. Newcomers can claim these bonuses based on their trading activities. If you are an active trader, this bonus is definitely a great opportunity for you.
Fees
Bitunix charges very low fees, starting at only 0.02% maker and 0.06% taker on the futures market. For spot trading, Bitunix charges the industry standard rate of 0.1% maker/taker fees in spot trading.
Customer Services
The platform offers numerous means to contact their representative or customer support team. You can reach out to Bitunix staff with the 24/7 live chat support in the bottom right corner. If you have any questions or issues, customer support will be there to help you out quickly.
You can learn more about the exchange in our detailed Bitunix review.
2. BingX
BingX is the best alternative No KYC crypto exchange that was founded in July 2018. With over 8 million registered customers, BingX experiences a daily trading volume of 10 billion USDT. Without KYC, you can withdraw assets up to 50,000 USD daily and a maximum of 100,000 USD monthly. However, the daily limit can increase up to 3 million USD if you are verified.
Reasons to Choose BingX
Multiple Trading Options
BingX offers numerous trading styles and opportunities suitable for beginners and experts. It provides spot, futures, margin trading, copy trading, and strategy trading. Beginners can also benefit from copy trading in the same spot, futures, and strategy styles.
Numerous Side Applications
BingX also offers different side applications and services to improve your trading or earn a passive income. It includes their Proof of Reserves (PoX), Reward Center, Referral, and Affiliate Program. You can also benefit from API trading or becoming a Star Trader or Influencer Incubator.
Secured Trading:
The platform takes security seriously and has implemented industry-standard technology. US, Canadian, and Australian regulatory authorities license BingX to operate worldwide, which gives it 12 A+ scores from the SSL Labs. It also ensures the best security practices from the user end by providing two-factor authentication.
BingX is popular for its copy trading feature, where you automatically copy the trades from experienced crypto traders. You can easily analyze the past performance of other traders based on factors such as win rate, profitability factor, risk management, consistency, and more.
Fees
BingX charges you differently for withdrawing different cryptos. However, it is quite competitive in terms of trading fees. The exchange charges 0.1% maker/taker fees in spot trading.
Customer Services
The platform offers numerous means to contact their representative or customer support team. You can reach out to them via email or their social media channels. Users enrolled in the VIP program can also have a one-to-one live chat with an agent. However, despite many contact methods, customers complain their support service should be quicker and improved.
You can learn more about the exchange in our detailed BingX review.
3. Phemex
Phemex is a versatile no KYC crypto exchange for crypto traders who don’t want to indulge in KYC verification. It went live globally in November 2019 and has grown rapidly. The platform has a $10 billion trading volume, where 300,000 transactions are processed each second. Without KYC, you can withdraw 2 BTC per day, but it becomes unlimited when verified.
Reasons to Choose Phemex
Allows Staking
Unlike many platforms that only offer to trade and withdraw without KYC, you can also stake coins at Phemex if unverified. It means you can also earn tokens and rewards by staking coins while retaining anonymity. The platform offers a 10% APY on fixed and a 7% on flexible staking.
Excellent Mobile Application
Almost all crypto platforms provide a mobile application for ease of use and better accessibility. Phemex, in particular, has its application well-optimized and user-oriented. On Google Play, its user rating is 4.6 stars, while iOS users have rated it 4.5 on the App Store.
High-Security Level
Rather than storing customers’ crypto assets in cold wallets, Phemex utilizes a Deterministic Cold Wallet System, which distributes users’ data at various addresses. It also allows only three withdrawals per day through offline signatures. On the user’s end, it protects their assets through four levels, i.e., passwords, codes, 2-factor authentication, and anti-phishing.
Fees
Phemex is also included among the crypto exchanges with the most competitive fees. The platform will charge a 0.1% maker/taker fee for spot trading on a standard account. In contrast, you will be charged a 0.01% maker and 0.06% taker fee for contract trading. However, these fees can be reduced up to 0% by enrolling in the VIP program and increasing the account level.
Customer Services
Phemex is well known for its fabulous customer care service and multiple options to reach an agent. You can email them, talk to a representative in a live chat, or get help center support in no time. Moreover, their education center has many detailed guides to assist people seeking help for common issues.
You can learn more about the exchange in our detailed Phemex review.
Limitations
High Third-Party Fees
The platform has low trading fees, but if you purchase crypto assets via third parties, like MoonPay, Simplex, Banxa, Mercuryo, and others, you will be charged as high as 8%. So, using the platform’s means to purchase crypto at affordable rates will be recommended.
Less Launchpad Events
Although Phemex Launchpad organizes events with high APYs of up to 459%, they occasionally happen, making it difficult for users to earn through their interests. It would be beneficial for the platform to host these events more frequently.
4. MEXC
MEXC is a well-known crypto exchange founded in April 2018. It is operating in over 170 countries with 10+ million active users. The platform lets you trade and withdraw crypto without KYC, but the withdrawal limit is 20 Bitcoins per day (significant enough for regular users). This is an incredibly high crypto withdrawal limit, making MEXC one of the best no KYC crypto exchanges.
However, verification will allow you to enjoy other various benefits that are not accessible to unverified users.
Reasons to Choose MEXC
Best for VPN Users
While MEXC is a no KYC crypto exchange, some countries are still restricted from using the platform. However, you can use MEXC with a VPN, no matter where you are from. It leaves MEXC as a top pick for people who want to keep their identity anonymous in heavily restricted countries like the United States.
Supports 1600+ Crypto Assets
Another reason is the huge crypto coins collection supported on MEXC. The exchange has more than 2,000 crypto assets, giving you a diversified range of options to invest, trade, or even stake. It also has over 180 trading pairs based on common coins like BTC, LTC, ETH, XRP, DOGE, ADA, etc.
Numerous Payment Methods
MEXC has multiple payment methods, allowing you to purchase crypto or deposit fiat funds in your account for later use. You can use your VISA or MasterCard Credit/Debit cards, Apple Pay, Google Pay, or bank transfers. Additionally, you can trade via P2P transactions or use third parties. While these payment methods are great, some require KYC verification to unlock the deposit option. Crypto deposits will always work regardless of verification status.
Fantastic Copy Trading
The exchange also allows you to mimic professionals’ trading patterns and styles through copy trading. It imitates experts’ strategies to increase the chances of getting successful trades. The feature makes MEXC an excellent choice for beginners to get potential profit by following the traders’ strategies they think are most successful on the platform.
Fees
MEXC is among the most affordable crypto exchanges, charging no deposit fee. Spot trading is also free of charge on the platform for both makers and takers. In futures trading, the maker fee is 0%, while the taker fee is 0.02%. On the other hand, MEXC has different withdrawal fees for different cryptocurrencies.
Customer Services
The exchange offers numerous channels for its customers to reach a representative. It has 24/7 customer care with live agents and chatbots. Particularly speaking of reaching out, the team also provides multilingual assistance for people from different regions. They also have a ticket system for queries or complaints, but sometimes, the response time can get delayed.
You can learn more about the exchange in our detailed MEXC review.
Limitations
Lacks Fiat Withdrawals
Although you can buy crypto from fiat using multiple options, you cannot withdraw fiat at all. You must transfer crypto to another exchange supporting fiat withdrawals to cash out the balance. So, if you are fine with this transaction fee, MEXC will be a great pick.
Limited Quick Buy Assets
Another feature that MEXC users demand the most is more Quick Buy options. Currently, you can only quick-buy eight crypto assets, which are BTC, ETH, USDC, USDT, XRP, TRX, TUSD, and EOS. Although these eight may be enough to support your quick crypto needs, it will be better if the platform offers some more.
5. PrimeXBT
PrimeXBT was launched in November 2018 and soon became popular due to its fast trading. The No KYC crypto trading platform operates in 150 countries, where more than 1 million users trade assets worth $1+ billion. Moreover, it is also ideal for unverified users due to no trading limits.
Reasons to Choose PrimeXBT
Diversified Market
PrimeXBT is not just a crypto exchange, but it is also a great platform to trade forex, stocks, and indices. You can trade more than 50 forex pairs and 11 stock indices. Plus, you can also trade five commodities: gold, silver, natural gas, crude, and Brent oil.
Unlimited Trading & Deposit
Normally, crypto platforms have limitations for non-KYC users, so people verify their identity for better trades and withdrawals. But PrimeXBT offers you unlimited trading and deposits without KYC. Moreover, you can even withdraw up to $50,000 daily when unverified, which is too high to bother.
Excellent CFD Trading
PrimeXBT is better known for its Contract for Difference (CFD) trading. Instead of owning the underlying asset, the seller gets revenue from the buyer in CFD, according to the price change. PrimeXBT offers these contracts at affordable fees. You can either hold the position for a day without charges or overnight(s) at a minimal price.
Limitations
Lacks Spot Trading
One of the major limitations is the unavailability of spot trading. PrimeXBT offers you contract, leverage, and futures trading. But those looking for a more common trade market, spots, will need to consider a different platform.
No Fiat Support
Another huge limitation is that the exchange doesn’t deal in fiat currencies, which means you can neither deposit nor withdraw fiat. You can only deposit Bitcoin, Ethereum, and stable coins like USDT or USDC. It is possible to purchase crypto via fiat using third-party platforms, but they charge a huge fee. If you want to deposit your fiat currency, you should check out other options like MEXC or BingX.
Fees
PrimeXBT is quite affordable, charging a 0.05% maker/taker fee on margin and copy trading for crypto only. Forex, indices, and commodities trading is 0%. On the other hand, trading fees for CFDs range from 0.0001% to 0.05%. However, its withdrawal fees depend on the crypto coin you are taking out.
Customer Services
You can reach out to the team via email, ticketing system, live chat, or through their social media channels like Twitter or Telegram. Unfortunately, they don’t have a phone number, but all the above-described means can sort out your issues. The agents respond quickly and effectively listen to solve your problem.
You can learn more about the exchange in our detailed PrimeXBT review.
6. ApeX Pro
ApeX Protocol is a non-custodial decentralized exchange (DeX), launched in November 2022. Since the platform is relatively new, it only has $100 million in daily trading volume. However, as the ApeX Pro exchange is built and owned by Bybit, the second largest crypto exchange in the world, the non-KYC DEX already has great liquidity. ApeX Pro doesn’t require KYC, which means you can trade without ID verification. The platform allows you contract trading at a leverage of up to 30x without KYC.
Reasons to Choose ApeX Pro
Built by ByBit
ApeX Pro is built and backed by ByBit, a leading centralized crypto exchange (CEX). With the surging popularity of DeX and to solidify its presence, ByBit integrated ApeX Pro, which indicates it is a legitimate platform with better fees, anonymity, and transparency.
Trade to Earn
The platform has different mechanisms, but a highlighted one is Trade-to-Earn (T2E). By trading on the platform, you can earn BANA tokens and enjoy additional perks as a token holder. These benefits are immediately accessible to successful traders.
No Minimum Deposit Limit
Another significant reason to switch to ApeX Pro is the no deposit limits. You can deposit any amount anytime from either an Ethereum or non-Ethereum wallet. Currently, your deposited asset will automatically convert to USDC through 1inch’s API. Hence, you can deposit as little as 1 USDC (which is usually $1).
Limitations
Low Trading Volume: Since the platform is relatively new, it doesn’t have a large user base yet. Although ByBit operates the DEX, people are unfamiliar with the platform. Hence, the exchange has low volume (for now), which means the ApeX market is not as efficient as big markets yet.
Low Trading Options: Another limitation of this new platform is its few trading options. Currently, 8 cryptocurrencies and 14 trading pairs are supported on the platform. You can also stake coins, but that’s pretty much all. More coins and trading methods are likely to be introduced soon.
Fees
Since it is a decentralized exchange, the trading fees are comparatively low. ApeX Pro charges you a 0.02% maker and 0.05% taker fee. It also charges only 0.1% trading commission, which is quite low compared to other competitors. However, withdrawal fees are fixed, which is $1 for normal, slow withdrawals and $5 for faster ones.
Customer Services
You can contact the support team via the email address or through their social media channels. The social contacts include Twitter, Telegram, Discord, Medium, and GitHub. However, since the platform is relatively new, not much user satisfaction data is available. However, people are comfortable enough with the services by far.
You can learn more about the exchange in our detailed ApeX guide.
What is KYC?
KYC is a verification process that money businesses must apply. This process requires personal information such as a government-issued ID or Passport and sometimes even a selfie or video call. Know Your Customer (KYC) verification is essential for trading platforms or crypto exchanges to ensure security and integrity. Although KYC regulations restrict criminal and illegal activities, the process can be quite frustrating and time-consuming.
Also note that anti-money laundering laws (AML) apply in most countries, making the KYC process mandatory. Some crypto exchanges without KYC may be illegal or operating in gray areas.
KYC vs. No KYC Crypto Exchange Difference
The key difference between KYC exchanges and No KYC Exchanges is the identity verification process.
KYC crypto trading platforms usually require personal details such as a government-issued ID or Passport. On the other hand, No KYC crypto exchanges let you trade, deposit, and withdraw cryptos right away without having to submit personal details. This makes No KYC crypto exchanges an attractive option for traders seeking a simple signup process without having to undergo KYC.
Lastly, anonymity is a key aspect of the crypto world. Therefore, many crypto enthusiasts are religiously against KYC crypto exchanges as they go against the fundamental values of cryptocurrencies.
Are No KYC Crypto Exchanges Legal or Illegal?
There is no straight answer to this question, as every country has different laws and regulations in place. However, most countries implement AML laws and regulations, which also means that institutions offering money-related services must verify the details of their customers.
While KYC Exchanges are not necessarily illegal, they often operate in gray areas and try to stay under the radar.
Are No KYC Crypto Exchanges Safe and Secure?
Holding cryptos on centralized exchanges can result in horror stories. Examples of this are Mt. Gox or FTX. Both of these exchanges required KYC verification and complied with AML laws. The result was that the two exchanges still went bankrupt due to hacks or bank runs, and all customers lost their money.
No matter if a crypto exchange requires KYC verification or not, we never recommend trusting a crypto exchange or storing your funds in one. Only keep on a crypto exchange what you are trading with.
Overall, no-KYC crypto exchanges can be just as safe and secure as KYC crypto exchanges. Some traders from the CryptoWinRate team also use No KYC crypto exchanges such as MEXC or BingX for their trading activities.
The moral of the story is that you can’t trust centralized crypto exchanges. Holding cryptocurrencies on an exchange is a huge risk. The best option is always your private cold storage wallet.
Wrapping Up
Trading cryptocurrencies while staying anonymous can be easy if you know the best no KYC crypto exchange. No KYC crypto exchanges offer you a simple way to trade on the platform simply by registering with your email and password. No identity verification is required for trading. However, if you want to buy cryptos via credit card without KYC, most exchanges limit you. Also, most no KYC crypto exchanges will reduce your 24-hour withdrawal limit.
We’ve listed the five best No KYC crypto exchanges above, each with unique features and limitations. So, choose a platform from MEXC, BingX, Phemex, PrimeXBT, or ApeX Pro, and start trading crypto without any hassle.
FAQs
Is it Safe to Use Non-KYC Exchanges?
While it is possible to trade on some reputable and secure crypto exchanges without KYC verification, it is important to note that these platforms are not entirely risk-free. Without identity verification, you can be susceptible to scams and hacks. Therefore, it is recommended to exercise caution and use these platforms at your own risk.
Are No KYC Exchanges Legally Allowed?
If legal authorities regulate the exchange, you can use non-KYC exchanges legally. However, it is important to report any trade or income generated to the government because, as such, you will be committing tax evasion (which may cause you serious trouble in the future).
Can You Buy Crypto from a No KYC Crypto Exchange?
Yes, you can buy, sell, trade, and even stake crypto from a non-KYC exchange. However, it is important to note that unverified accounts may experience limitations while buying, withdrawing, or trading. If the exchange is regulated by a reputable and trusted organization or legal body, the risks may be lower. Often, credit card payments require KYC verification.
