Here are the best cryptocurrency exchanges without KYC:
Know Your Customer (KYC), and Anti Money Laundering (AML) are prevalent practices in the financial world. These practices also apply to cryptocurrency-related services.
If you are going to trade bitcoin or any other cryptocurrency using a cryptocurrency exchange, it is more than likely that you are going to encounter these procedures. The majority of cryptocurrency exchanges require you to submit your government ID and other forms of verification before you are allowed to use their platform.
If you are concerned about privacy, avoid these exchanges at all costs. These exchanges collect this information to combat financial crimes or to tax you later.
We do not endorse any form of illegal activity by writing this article. But, we are big advocates of privacy. We believe that everyone must have the right to stay anonymous if they wish to remain anonymous.
In this article, we will review some of the best cryptocurrency exchanges that do not require KYC:
Binance is one of the top cryptocurrency exchanges to trade cryptocurrency right now. This exchange constantly ranks in lists of the top cryptocurrency exchanges in the world.
What is even more great about this cryptocurrency exchange is that it doesn’t ask for personal information to use their platform. Their KYC procedure is optional. You are allowed to withdraw up to 2 BTC daily without giving away any personal information.
2 BTC is more than enough for an average user. You can sign-up to Binance using just your email and password.
Binance exchange has one of the cleanest UIs ever. This exchange is suited well for beginners as well as advance users. There is an inbuilt option to switch between basic and advance mode. Additionally, Binance supports margin trading and futures trading.
In terms of trading volume, Binance’s trading volume is high compared to other cryptocurrency exchanges. So you don’t have to worry about liquidity issues.
In terms of fees, this exchange has one of the lowest trading fees in comparison to other cryptocurrency exchanges. You are given a discount of 50% to your trading fee if you own their native coin – Binance Coin (BNB).
Interestingly, Binance has Android and iPhone mobile app versions of the exchange. These apps are packed with all the advance features of the exchange in a very simple, easy to use interface.
KuCoin is another cryptocurrency exchange that has been gaining traction lately. This exchange has amassed a large customer base because of its innovative rewarding programs. You are given a discount on your trading fee if you own their native token – KuCoin Shares (KCS). What is even more rewarding is their profit-sharing program. When users trade, KuCoin charges a fee. 50% of this fee is redistributed to KCS holders. If you own a significant amount of KCS, this can turn to a good source of passive income.
KuCoin allows you to trade cryptocurrency without KYC. You can withdraw up to 2 BTC daily without the need to go through KYC procedures. If you want to lift these limitations, it is mandatory to get verified.
This exchange supports all major cryptocurrencies, and new cryptocurrency is regularly being added. Kucoin has one of the cleanest user interfaces. This exchange suits both advance and beginner traders.
In many ways, KuCoin is on par with Binance. They both have very similar fee structures. They both support all major coins, the same level of security, mobile application support and so on. However, when it comes to customer support, KuCoin is the winner. Their 24-hour live chat support is very quick and second to none.
Changelly is another cryptocurrency exchange that allows users to trade anonymously. This exchange is more like a cryptocurrency swapping service than a cryptocurrency exchange. It doesn’t have fancy tools to analyze cryptocurrency as Binance and KuCoin have; nevertheless, it is incredibly easy for anyone to start trading at Changelly. All you need is your wallet address. Not even an email or password.
Changelly is connected to multiple exchanges. When you place an order, changelly gets the best price from all connected exchanges. They support over 150+ cryptocurrencies, and new ones are being added regularly. iPhone and Android versions of this exchange are also available to download.
In terms of privacy, Changelly is one of the most private centralized exchanges in the crypto world. You are allowed to trade any amount you want, without providing any form of verification.
This exchange also supports crypto to fiat transactions. You can buy cryptocurrency with USD, EUR or GBP. Crypto to fiat transactions does have limitations. You can read about it here.
Their 24/7 live support is just as good as Kucoin’s. Your questions are answered within seconds.
Important Note: On some rare occasions, Changelly requires you to verify your identity if they deem the transaction as suspicious.
If anyone is interested in buying and selling cryptocurrency anonymously, Changelly is a must know.
Unlike all other cryptocurrency exchanges listed in this article, WavesExchange is a decentralized exchange. A decentralized exchange doesn’t rely on third parties to hold users’ funds. Transactions that take place in a decentralized exchange occur directly between other users.
You can sign-up to WavesExchange and trade without providing any form of personal information. All that is needed to create an account at WavesExchange is just a password.
It is important to note that not all decentralized exchanges are private. Some decentralized exchanges do have KYC. Fortunately, the majority of decentralized exchanges do not have KYC.
Trading at a decentralized exchange means that you are completely in control of the funds. Although this is what the majority of cryptocurrency traders prefer, there are some downsides to it. The major disadvantage being funds getting lost forever if the user does something silly. There is absolutely no way to recover the funds.
Here are some other decentralized exchanges without KYC:
Trading cryptocurrency without giving away personal information can be attractive to many cryptocurrency traders. However, this also opens the doors to all illegal activities. As a cryptocurrency trader, if you like the idea of staying anonymous, above mentioned exchanges are some the best exchanges without KYC.