5 Best No KYC Crypto Exchange and Why You Should Use Them

What is KYC in Crypto?

KYC means Know Your Customer, and it is an identification process. But why kyc is required?

Most financial institutions and regulated companies use this standard procedure to verify their customer identity and examine potential risks of illegality such as terrorist financing, money laundering, imposter scam, etc.

Particularly, based on anti-money laundering (AML) and counter-terrorism financing (CTF) measures, most countries have regularized the use of KYC in their legislative law to secure customer assets and mitigate potential risks.

The KYC process typically asks you to collect information from customers that can help identify them like name, date of birth, national identification documents, and address.

The financial institutions or crypto exchanges crosscheck the information from government databases to verify that the customer is actually who they are claiming to be and detect any issues that can point to fraud.

What Are No KYC Crypto Exchanges And Why Use Them?

No KYC crypto exchanges are the platforms where customers aren’t asked for any identification for buying and selling crypto.

It is perfect for users who are privacy conscious as these platforms do not ask for identity proof.

Most no KYC crypto exchange platforms let you sign up with just an email and password, and some won’t require signup at all.

Using a crypto exchange without KYC offers several benefits, including:

• Anonymous Trading

The biggest benefit of using no KYC crypto exchanges is that your identity will be hidden and you can anonymously trade. It helps maintain your privacy as you are not giving any of your personal information.

• No Need for Account Registration

You also don’t even need to create an account to trade with the best no KYC crypto exchanges. Sometimes users only have to connect the wallet to start registration. All they need to do is deposit crypto from their private wallet directly to the exchange.

• Trade in Countries With Strict Regulations

Due to different regulation issues in different countries, traditional crypto exchanges don't allow their users to trade in certain countries.

However, since no KYC exchanges don’t ask you to share your location and you don’t have to mention your country of residence, you can trade globally, even in countries with strict crypto regulations like India, China, Morocco, etc.

• Avoid Risks of Hacks and Bankruptcy

Most no KYC crypto exchanges are decentralized which means that instead of a central authority, they work through smart contracts on the blockchain.

This reduces platform-related risks and makes sure all your crypto transactions are directly deposited to your wallet without any chance of losing funds to exchange failures.

You can also add an extra layer of security by using the best Web3 wallets known for their advanced features.

• Keep Your Personal Data Private and Secure

Many popular traditionally operating exchanges have undergone many instances of user data leaks in the past.

But since no KYC exchanges do not collect personal data, they don’t have to deal with the risk of data breach.

5 Best No KYC Crypto Exchange Platforms

The security and anonymity aspects of no KYC trading make it a preferable choice for many.

Now that you know the benefits, here are our top picks for no KYC crypto exchange platform:

1. Bing X

BingX is known to be a reliable crypto exchange that doesn’t ask for KYC identification. The platform was launched in 2018 and emerged as a social network for crypto copy trading.

It lets you buy and sell over 600 coins, reaching over 5 million active users. You can take advantage of a vast range of services with BingX including derivatives trading, spot trading, grid trading, and copy trading.

BingX got its popularity for copy trading where you can follow and copy more than 800 leading traders. It is a community meant for beginners exploring profitable ways to earn crypto for free.

You can also make your own trading platforms with grid trading and earn money throughout the day with spot grid.

2. CoinEx

CoinEx is another leading crypto exchange working globally for people who want to trade without verification. It came into the market in 2017 with a proprietary matching engine that guaranteed a fast and smooth trading experience.

It handles up to 10,000 transactions in one second, supporting 749 tokens and 1150 trading pairs with both mainstream coins and emerging projects as well.

You should be free from any security-related worry when using CoinEx as it uses multiple protection layers like multi-signature, cold storage, and anti-DDoS that protect your assets.

CoinEx also features a future reserve fund that can balance your losses if there is any market manipulation.

3. MEXC Global

MEXC Global is a popular no KYC crypto exchange platform that allows you to trade in digital assets with fiat currencies.

It supports over 1900 crypto trading pairs so that you can deal with popular crypto, including NFT, Ethereum, Bitcoin, GameFi, and DeFi.

With MEXC, you get a free crypto signup bonus in the form of up to $1000 futures trading reward. You can experience high-end trading with features like copy trading, spot trading, and several trading competitions.

• Exchange Fees: No spot trading fee
• Deposit Methods: Credit card, SWIFT, and third-party payment platforms.
• Withdrawal limits: 30 BTC per day
• Supported Countries: More than 170 countries and regions

4. TradeOgre

Another key crypto tumbler platform that doesn’t require KYC to trade is TradeOgre which is known for its simple process and anonymity. It is best for traders who want to trade coins and other digital assets without revealing their personal information.

The platform supports over 130 coins and 176 trading pairs with Tether and Bitcoin as the base currencies.

However, the drawback is that TrageOgre doesn’t offer variety, reliability, or even high liquidity in their trading experience. It also lacks advanced trading features like futures, lending, or margin trading.

• Trading Fees: 0.2% trading fee on all fulfilled orders
• Deposit Methods: Crypto only
• Withdrawal Limits: No Limits

5. Changelly

Changelly is an instant no KYC crypto mixer that started in 2015. It lets users buy, sell, and swap over 500 crypto assets quickly with low fees, without requiring registration or identity verification.

Changelly PRO offers advanced trading features like multiple order types, margin trading, market analysis tools, and a personal account manager. It also has a loyalty program for lower fees and exclusive offers.

Changelly's mobile app provides all web platform features, better rates, and discounts, along with a built-in wallet for secure crypto storage. It partners with top companies like Ledger, Trezor, Exodus, and Coinomi.

• Exchange Fees: 0.25%
• Deposit Methods: Visa, Mastercard), bank transfer, or Apple Pay
• Withdrawal Limits: Less than 1 BTC equivalent per day
• Supported countries: Over 60 countries

How To Choose The Best Non KYC Crypto Exchange?

When it comes to choosing the best no KYC crypto exchanges, you need to consider some key factors that ensure a good trading experience.

Here are some tips to help you make the right choice:

• Start by knowing how long that particular exchange has been operating and its handling of client funds.
• Look for decentralized exchanges where your funds stay in your private wallet
• Make sure the exchange supports the best altcoins or your desired tokens of trading.
• You should also assess if it is compatible with major networks like Ethereum and Binance Smart Chain.
• Now you need to compare the trading fees and exchange rates across different platforms.
• If they have low fees and competitive exchange rates, you can save money in the long run.
• Don’t forget to consider if that specific no KYC crypto exchange platform has the trading tools and analytics you need.

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