10 Best Non-KYC Crypto Exchanges in 2024

Are you fed up with exchanges that demand personal information before letting you trade? You’re not alone. I’ve spent the last ten years knee-deep in crypto and seen the good, the bad, and the downright ugly when it comes to exchanges.

After sifting through various non-KYC crypto exchanges, ByBit stands out as the top dog for anonymous crypto trading. Its peer-to-peer system and privacy focus make it a solid choice.

In this guide, we’re cutting through the noise. We’ll look at 10 exchanges that let you trade without the invasive KYC requirements. Why? Because choosing the wrong platform isn’t just annoying – it can be risky.

Best Non-KYC Crypto Exchanges

Here is an overview of the 10 best non-KYC crypto exchanges to consider in 2024.

1. Bybit: Leading spot and derivatives exchange.
2. Changelly: Top crypto swapping platform without ID.
3. BingX: Most suitable for advanced traders.
4. CoinEx: Best for high 24-hour fiat withdrawals without ID.
5. UniSwap: Top decentralized exchange (DEX) by volume.
6. PancakeSwap: A low-fee DEX 
7. Jupiter: Best for trading newly minted Solana meme coins.
8. Hodl Hodl: Your go-to non-KYC P2P exchange.
9. Margex: Top-drawer crypto exchange for copy trading.
10. TradeOgre: Ideal for privacy-focused crypto transactions.

Compare The Best Non-KYC Crypto Exchanges

The following table provides a glimpse of how our best non-KYC crypto exchanges compare against each other. We’ve based our comparisons on KYC requirements, the number of supported cryptocurrencies, and whether or not they’re custodial.

Exchange	KYC?	Cryptocurrencies	Custody?
Bybit	Optional	650	No
Changelly	No	700+	Yes
BingX	Optional	600+	Yes
CoinEx	Optional	800+	Yes
Uniswap	No	1,000+	No
PancakeSwap	No	1,000+	No
Jupiter	No	750+	No
Hodl Hodl	No	100+	No
Margex	No	36 perpetuals	No
TradeOgre	No	190+	Yes

Our Methodology

Our review process aims to give you a clear, unbiased picture of cryptocurrency platforms available to U.S. users. So, we’ve developed a comprehensive approach that balances thoroughness with accessibility. 

Here’s our method: We read through user testimonials and reviews to understand what everyone is already raving about, and which exchanges have a bad rep.

Next, our team conducts hands-on testing, using demo accounts (if available). This firsthand experience is crucial for understanding how these platforms perform in real-world scenarios. 

We then analyze the data, considering over 20 different factors. This includes user experience, security measures, fees, and available cryptocurrencies. 

Finally, we distil all this information into a star rating system. One star indicates significant room for improvement, while ten stars represent excellence across the board.  

10 Best Non-KYC Crypto Exchanges

With the basics out of the way, let’s take a look at our take on the 10 best anonymous crypto exchanges.

1. Bybit: Leading spot and derivatives exchange

Rating: 8.5/10

On Bybit, you’ll find a comprehensive suite of trading options, including spot and derivatives trading. It blends a user-friendly interface with advanced features, catering to novice and seasoned traders.

One of the platform’s highlights is its wide selection of leveraged products. Here, you can expect to leverage BTC and other popular crypto by up to 100x. As such, Bybit has struck a chord with many margin traders.

The exchange’s advanced trading tools complement its equally robust architecture. This combination guarantees you high liquidity and least slippage, even when the market is most volatile. It is also a Web3 wallet with DEX functions covering over 10,000 tokens.

Pros

Cons

• Wide selection of spot and derivatives trading options
• Leveraged margin trading of up to 100x
• Diverse futures and perpetual contract offerings
• Web3 wallet integration

• Unavailable in the USUnavailable in the US
• Beginners could find the learning curve steep

2. Changelly: Top crypto swapping platform without ID

Rating: 8.5/10

If you want to swap crypto without ID verification, then you should consider Changelly. Whether on desktop or Mobile, the platform has a simple UI and instant exchange functions. These make it ideal for users seeking to convert their digital assets quickly and hassle-free.

Changelly also embraces interoperability. As such, you can swap crypto assets across different blockchains. For instance, you can use this feature to trade Bitcoin for Ethereum or any other listed coin. 

The exchange will also draw you with its crypto off-ramp feature. You can exchange your crypto for fiat currency and receive the funds in your bank account through its Mercuryo integration. The only catch is that you must undergo a KYC test with Mercuryo.

Pros

Cons

• Trade crypto for fiat and vice versa
• Allows cross-chain swaps
• No ID verification for basic transactions 
• Is non-custodial

• A 0.25% exchange fee is way higher than what most competitors charge
• Crypto to fiat exchanges require KYC

3. BingX: Most suitable for advanced traders

Rating: 8.5/10

One of BingX’s standout features is its wide selection of trading tools. These include top-quality charts with TradingView capabilities. You can customize them with technical and economic indicators you like to aid your trading decisions.

Again, the platform has integrated grid trading bots that are a favorite of many experienced traders. With these (bots), you can automate your trading strategies, which takes the hustle out of crypto investments. Its other offerings include spot, derivatives, and copy trading.

You’ll also be at home with the platform if you’re a short-seller keen on trading perpetual futures. For those, you can apply a maximum leverage of 150x, significantly boosting your trading funds. Moreover, BingX supports over 600 tokens, including popular meme coins like Dogecoin and Shiba Inu, a boon for your diverse portfolio.

Pros

Cons

• Copy trading feature lets you replicate successful traders’ strategies
• Grid bots feature allows you to automate your trading strategies
• Offers diverse trading options, including spot, futures, and derivatives
• 150x leverage for futures trading

• Complaints about unresponsive live support 
• Unfavorable rating on Trustpilot

4. CoinEx: Best for high 24-hour fiat withdrawals without ID

Rating: 8/10

If you want to trade large sums without compromising privacy, look no further than CoinEx. This exchange will allow you to withdraw fiat up to $10,000 daily without ID verification. Its permissive nature, therefore, makes it a good fit for privacy-conscious investors.

When you first interact with the exchange, its clean and intuitive UI greets you. Add to that 900+ coins and over 1,000 pairs, and you have a diverse but user-friendly trading platform. CoinEx’s adoption of smart trading tools further simplifies platform usage.

The exchange offers KYC-free spot and margin trading. That’s besides yield farming through its market making and stacking products. The last two features are CoinEx’s selling point to traders keen on building passive income streams.

Pros

Cons

• Withdraw up to $10,000 without ID
• Supports a wide range of crypto assets 
• Offers opportunities for earning passive income through market making and stacking
• Getting started requires your email only

• Charges higher trading fees than its competitors
• Lower liquidity than its alternatives due to its relative newness

5. Uniswap: Best decentralized exchange (DEX) by volume

Rating: 9/10

Ask any crypto purist what they want from an exchange, and they’ll mention control, privacy, and security.

Uniswap offers all three and more.

The platform’s centerpiece is decentralization, which it achieves through its peer-to-peer (P2P) offerings.

One thing you can never run short of on the exchange is liquidity. According to CoinMarket cap data, it is the second leading decentralized exchange (DEX) by trading volume, accounting for 13% of the total DEX volume. This deep liquidity allows you to swap your tokens seamlessly regardless of market conditions.

Uniswap has an easy UI, supports a wide range of tokens, and runs on a unique Automated Market Maker (AMM) model. Further, the exchange has embraced Layer 2 (L2) solutions, cutting transaction time and improving overall user experience (UX). These features are a big draw for both rookie and mature crypto traders.  

Pros

Cons

• Deep liquidity allows you to enter and exit positions easily
• Supports a wide variety of tokens catering to diverse trading needs
• Seamless integration with L2 solution enhancing overall UX
• AMM model ensures efficient trading

• No recourse in case you lose your crypto
• Limited trading option compared to centralized exchanges

6. PancakeSwap: A low-fee DEX 

Rating: 8.5/10

Think of PancakeSwap as a one-stop shop for crypto enthusiasts. You can swap tokens, dive into yield farming, or even try your luck with their crypto lottery. It’s got that perfect mix of “easy enough for newbies” and “enough bells and whistles for the pros.”

What makes it stand out? Speed and affordability. If you’ve ever winced at Ethereum gas fees, you’ll love how fair the transactions are here. Plus, it’s fast – no twiddling your thumbs waiting for trades to go through.

The CAKE token is the secret sauce, letting you earn extra by holding. And if you’re into the whole “make your money work for you” thing, their staking options are worth a look.

Is it perfect? No. You’re stuck in the BSC ecosystem, and some newer tokens might be a bit risky. But for quick, cheap trades and a chance to earn some extra crypto? It’s tough to beat.

Pros

Cons

• Wallet-friendly fees
• Slick, easy-to-navigate platform
• Multiple ways to earn (staking, farming, lottery)
• Speedy transactions

• New tokens can be hit-or-miss
• Farming rewards might dip over time
• Not as decentralized as some purists might like

7. Jupiter: Best for trading newly minted Solana meme coins

Rating 8/10

Solana (SOL) is presenting itself as the go-to alternative to legacy blockchains, Bitcoin and Ethereum. And with increasing adoption, it’s expanding its offerings including meme coins. So, if you’re an enthusiast of these emerging digital assets, Jupiter is the platform to be on.

I liked that Jupiter supports cross-chain swaps. With this feature, you can buy SOL-based tokens despite them being on other chains, including Ethereum, Avalanche, Polygon, BNB chain, and Base.

Moreover, the setup process was a breeze. All I had to do was link my Solana-supported wallet. There was no lengthy account verification process.

Pros

Cons

• Extensive selection of newly launched SOL meme coins
• Simple and intuitive UI
• Easy set up as all you need is to connect your SOL-supported wallet
• Cross-chain compatibility

• Lacks fiat on-ramp options
• Scant charting and analysis tools

8. Hodl Hodl: Your go-to non-KYC P2P exchange

Overall Rating: 7.5/10

Hodl Hodl skips the usual ID checks, letting users trade more anonymously. This peer-to-peer platform uses a clever escrow system to keep things secure without compromising privacy.

Trading here feels different. You’re dealing directly with other users worldwide, which can lead to some reasonable rates. Plus, you’re not stuck with just one payment method.

But it’s not all smooth sailing. Finding a trade match can take time, especially for larger amounts. And if you’re new to P2P trading, expect a bit of a learning curve.

Pros

Cons

• Fully private focussed exchange
• P2P model gives users total control over the finances
• Multisig escrow for enhanced security
• Global accessibility

• Low liquidity due to its limited crypto offering
• Limited crypto offering

9. Margex: Top-drawer crypto exchange for copy trading

Rating: 8/10

Ever wanted to trade like the pros without the headache? That’s what Margex offers you. This crypto exchange is making waves with its copy trading feature, letting you ride the coattails of seasoned traders.

What’s cool about Margex is you can crank up the volume with up to 100x leverage. Risky? You bet. Exciting? Absolutely.

They’ve got a wide selection of trading pairs, too, so you’re not stuck with the usual suspects. Again, the exchange takes security seriously by tucking your coins away in cold storage.

But here’s the rub – while Margex is great for copy trading and leverage junkies, newbies might find it overwhelming. Fees are decent but not rock-bottom. And if you’re looking to use cash to buy crypto, you’re out of luck.

Bottom line? If you’re into copy trading or want to amp up your crypto game, Margex is worth a shot. Just don’t go crazy with that leverage!

Pros

Cons

• Slick copy trading setup
• Up to 100x Leverage
• A wide range of trading pairs
• Sharp market analysis tools

• High leverage is a double-edged sword
• Slim pickings for learning resources

10. TradeOgre: Ideal for privacy-focused crypto transactions

Rating: 7.5/10

TradeOgre stands out in the crypto world by keeping things simple and private. It’s not trying to be the fanciest exchange but nails what it sets out to do.

Want to start trading? Just enter an email. That’s it. No selfies, no ID scans, no waiting around. It’s refreshingly quick in a world where signing up for things can feel like applying for a mortgage.

If privacy coins are your thing, you’ll like what you find here. TradeOgre offers a solid mix of these under-the-radar currencies that bigger exchanges often ignore.

Sure, the site looks dated, but don’t let that fool you. It’s snappy, with low fees and quick trades. Think of it as that old flip phone that still works perfectly – not pretty, but reliable.

It’s not all sunshine, though. You won’t find tons of coins or fancy trading tools here. And forget about using regular cash – it’s crypto only.

Pros

Cons

• Quick, no-fuss signup
• Good for privacy coins
• Low fees
• Fast trades

• Few coin options
• Basic features
• Dated look

What Is KYC?

KYC is a short form for “Know Your Customer.” Crypto exchanges and regulators use it to check out who’s using their services. It’s their way of ensuring they’re not dealing with any criminal activity.

In crypto, KYC usually means you’ve got to hand over some personal stuff to prove you’re really you. We’re talking about the basics – your name, where you live, when you were born, and maybe a photo ID like your driver’s license or passport. Nothing too crazy, right?

So why do they bother with all this? Well, it’s mostly to keep the bad guys out—you know, to stop money laundering and other criminal activity. Plus, it helps exchanges to comply with regulatory requirements, which makes it easier to run in certain countries.

Here’s the thing, though – not every crypto enthusiast is thrilled about KYC. Some investors think it’s a total buzzkill, going against the whole “anonymous” element that Bitcoin was all about in the first place. They’re worried it’s messing with their privacy and the whole decentralized idea of cryptocurrencies.

But KYC has its fans, too. Some say it’s the ticket to mainstream crypto acceptance and staying on the right side of the law. To them, it’s all about building trust and legitimizing crypto.

Do I Have To Report Transactions On Non-KYC Crypto Exchanges On My Tax Return?

Any money that you make from crypto trading is subject to tax. Even if you didn’t provide any proof of ID to the exchange that you used.

You are required, by law, to report all profits that you make from crypto and may be subject to fines if you fail to report your earnings. It is up to you to keep track of your earnings and report accordingly.

Here’s a pro tip: Keep tabs on all your crypto moves. Jot down when you buy, sell, or trade and the prices. It’ll save you a massive headache when tax time rolls around.

And hey, if you’re scratching your head about how to report all this stuff, it might be worth chatting with an expert advisor. They can help you stay on the right side of the law without handing over all of your returns.

Are Non-KYC Exchanges Safe?

There’s no straight yes or no answer to this question. 

On the one hand, you get privacy. This is quite appealing if you’re big on keeping your financial business to yourself.

But privacy can be a double-edged sword. Sure, it keeps your info under wraps, but it also makes these exchanges a magnet for those who are up to no good. Anonymous exchanges are used by criminal to move money without needing to prove who they are.

When it comes to your money’s safety, it’s hit or miss. Some non-KYC exchanges are solid, and others are not so much. Without strict oversight, shady operations can slip through the cracks.

And if things go south, it can be very difficult to prove that funds were yours without any personal records on file.

Legally, these exchanges are in a grey zone. They’re not strictly illegal, but they’re not winning any government popularity contests either. They could face shutdowns, leaving you high and dry if you’ve got any funds stored in your account.

For people in countries with tight financial controls, these exchanges can be a real lifeline to the global economy.

Non-KYC exchanges can be okay if you know the risks and do your homework. Look for ones with a good reputation and decent trading volume. But remember, just because they’re not checking your ID doesn’t mean you’re off the hook for taxes and legal stuff.

Benefits Of Non-KYC Exchanges

Non-KYC exchanges come with several advantages:

Enhanced Privacy

Non-KYC exchanges allow you to trade without anyone watching. This might be appealing if you are keen on keeping your trading decisions to yourself.

Faster Onboarding

Signing up is a snap—no endless forms or waiting days to get approved. You’re in and trading before your coffee gets cold. This is perfect for investors who want to quickly buy or sell crypto.

Increased Decentralization

Crypto was created to provide a decentralized financial system and non-KYC exchanges maintain that standard.

Affordability

Non-KYC exchanges can charge lower fees because they do not need to pay a middle man for their services. This means that the platforms are often cheaper to use.

Financial Independence

Without any middle-man or ID, you can move your funds around as and when you want to. This means that you will not run into any limitations when trading crypto.

Drawbacks Of Non-KYC Exchanges

Despite their many advantages,  non-KYC exchanges also have their shortcomings:

Security Risks

Non-KYC exchanges often skimp on security which leaves you more vulnerable to cyber threats. These platforms aren’t regulated which means that they do not have to adhere to the same security policies are KYC exchanges.

Crime Magnet

The no-questions-asked policy can attract users who want to move malicious funds. Sure, it’s great for privacy, but it’s also catnip for people up to no good.

Whilst this might not affect you directly, these activities can cause non-KYC exchange to get shutdown.

Regulatory Tightrope

These exchanges are constantly under scrutiny from regulators, who seem to be on a mission to shut them down. For this reason, you must keep your funds off of the platform as much as possible.

Bare-Bones Features

You might notice that a lot of non-KYC exchanges are very simple. These platforms don’t always offer the same features and KYC exchanges which can limit your trading strategy.

How To Buy Crypto Without KYC

Buying crypto without KYC is a straightforward process. You only have to follow these simple steps:

Step 1: Choose a no-KYC exchange

First, find an exchange that won’t ask for your ID. Do some homework—not all are trustworthy.

Check out ByBit, Changelly or a few DEXs. Just because they don’t want your info doesn’t mean they’re all above board.

Step 2: Register an account

Signing up is usually quick. Pick a username and a strong password. Some might ask for your email. Use two-factor authentication if it’s an option. It’s worth the extra step.

Step 3: Make a deposit

It’s time to add some funds. You’ve got a few ways to do this:

• Send crypto from another wallet
• Use cash for peer-to-peer setups
• Try gift cards or prepaid cards
• Bank transfers (though this might compromise your privacy)

Pick what works best for you, considering the trade-off between ease and anonymity.

Step 4: Start trading crypto

You’re all set to trade. Head to the trading dashboard, pick your crypto, decide how much you want, and open an order. Keep an eye on fees and rates – they can be tricky on these platforms.

It’s pretty straightforward, but there are risks. Start small, use a secure connection, and don’t overextend yourself.

How To Find The Right No-KYC Exchange

Picking the proper no-KYC exchange isn’t rocket science, but you must be smart about it.

• First off, check the reviews around the exchange. What are people saying online? A good report goes a long way.
• Security is a big deal. Look for exchanges that take it seriously—think two-factor authentication and cold storage. If they’ve never been hacked, that’s a good sign.
• Trading volume matters. More action usually means better prices and smoother trades.
• Make sure they’ve got the coins you want. Some exchanges stick to the big names, others offer a buffet of options.
• It’s crucial to know how you can pay (and cash out). Whether it’s crypto transfers, bank moves, or even cold hard cash, make sure your preferred method is on the menu.
• Look for platforms that offer low fees, these can quickly eat into your profits.
• Pay attention to the user interface. A confusing setup is a headache waiting to happen.
• Good customer support can be a lifesaver. You’ll thank yourself later if things go sideways.

Final Thoughts

The best non-KYC exchanges to use in 2024 include ByBit, Changelly and BingX. In this guide, we have looked at 10 different platforms to consider and provided an overview of the main pros and cons for each one.

It is important to conduct your own research to find an exchange that suits your trading experience, strategy and goals.

Non-KYC exchanges are suitable for traders who want a quick sign-up process and very few limitations on how they can move their funds. However, these platforms come with notable risks such as less-stringent security procedures and a higher chance of being shut down.

If you are not worried about remaining anonymous, check out our list of the best cryptocurrency exchanges to use in 2024.

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