Bybit also looks after new traders with a testnet (demo) mode, where you can practise trading using virtual money. This is an excellent way to learn how everything works, and test out your strategies. The crypto prices in the testnet mode are exactly the same as the live crypto market, so your demo trades will be representative of a real trading environment. If you ever get stuck, you can contact Bybit’s friendly customer support team via live chat 24/7. Bybit is perfect for frequent traders, with 280+ coins and extremely low trading fees. Spot trading fees are 0%, and derivatives trading fees are just 0.01% for makers and 0.06% for takers.
It’s one of the largest and most popular exchanges operating in America. HODL HODL is a non-custodial peer-to-peer Bitcoin exchange platform. This platform lets users trade freely with one another and does not keep user funds, instead of entrusting them to multisig escrow. This decreases trade time and lessens the risk of theft, all of which are excellent qualities. KYC is an essential component of anti-money laundering (AML) and counter-terrorism financing (CTF) measures, which are required by law in many countries. Some of the best crypto exchanges that don’t have KYC are HodlHodl, Uniswap, Changelly, and Bisq.
- Pionex is a non-KYC crypto exchange that specializes in trading with crypto bots.
- Pionex scans and stops instances of market manipulation on the platform.
- Transactions can be expedited on the exchange thanks to its quick confirmation rates.
While decentralized exchanges typically don’t require their users to create an account or pass any kind of verification, they don’t offer direct crypto purchases. You can “buy” crypto on these platforms via stablecoins like USDT or Tron instead. Although most crypto exchanges have some sort of KYC built in, it is not a requirement, and most users will never have to pass verification.
Join 400,000 people instantly calculating their crypto taxes with CoinLedger. Decentralized wallets like MetaMask do not collect customer information upon sign up. To use the site, you must confirm that you are not from a restricted country.
Cryptocurrency Wallet Types: Pros And Cons
Coinbase is a very popular crypto exchange, but it has to comply with very strict KYC rules to remain compliant. If you want to sign up to a crypto exchange that does not require KYC, read our list above for several options. KuCoin even has FREE trading bots on its platform, which is useful for users that like to automate their trading. The bots you can access are Spot Grid, Futures Grid, Smart Rebalance, DCA, and Infinity Grid. Usually you need to pay for a trading bot, so the fact that KuCoin offers them for free is an excellent advantage. There are many more features available on MEXC, and to find out, you can read our comprehensive review here.
ChangeNOW is a non-KYC crypto exchange that suits rookie and experienced traders. It has a centralized Altcon swapping service that facilitates fast exchanges. The platform gives you the ability to trade over 400 cryptocurrencies at fixed and floating rates or buy them with 90+ fiat currencies. CoinSwitch is popular because it requires no KYC, offers a wide range of cryptocurrencies, is simple to use, and allows for fiat trades.
These are some of the top cryptocurrency exchanges that don’t require KYC and have excellent products and feature offers. And the greatest part is that you can open an account in just a few minutes. However, before completing the registration process, it is usually a good idea to review their terms and policies, particularly their deposit and withdrawal policies.
You can get started with Changelly simply by providing your email address. You will need to provide more information to unlock more advanced features, such as paying for cryptocurrencies with fiat currencies. Kraken is a United States-based cryptocurrency exchange founded in 2011.
PrimeXBT is one of the decentralized exchanges without KYC and no trading limits. It offers trading services in forex, leverage, stocks, and crypto. We’ll give you a quick overview of the crypto exchanges with no KYC, as well as some of the unique features they can provide as a decentralized exchange (DEX). One can do it on P2P platforms, DEXs, and even major crypto exchanges like KuCoin or Changelly. Although KuCoin is advertised as one of the exchanges without KYC, it actually isn’t one. Although they don’t require KYC for purchases, users will still need to pass verification to withdraw their funds.
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The platform further allows you to buy crypto without worrying about KYC verifications. All you have to do is sign-up on the exchange and follow the steps below. The platform provides competitive rates and high transaction volumes. It also operates both web and CLI versions, and can therefore be utilized inside Tails, or Whonix operating systems. The downside of Bybit is that it is not available for US residents, as Bybit blocks access to IP addresses in the US.
We considered various factors including overall platform security, pricing, available tokens, user-friendliness, deposit methods, and other important features. Below is our detailed breakdown of the five Best Non-KYC Crypto Exchanges. You can get started trading cryptocurrencies on ProBit with email verification only. The withdrawal limit for accounts with email verification is $5,000, while the withdrawal limit for accounts with full KYC is $500,000. Pionex allows users to make trades and deposits after verifying their SMS and country of residence. The withdrawal limit for this type of basic verification is $2,000.
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At this time, decentralized exchanges like Uniswap don’t collect customer information. All you have to do to get started is plug in your Ethereum wallet. Pionex scans and stops instances of market manipulation on the platform. It has robust servers to speed up transactions with high trading volume. It is one of the best no-KYC exchanges that has It has an easy-to-use API. The interface has easy navigation and access to different data types.
It is highly convenient because of the predictability of the trading fees. You need an email address to register and manage your personal account information. Your level of anonymity on the exchange is increased by the connection to a hardware wallet. Compared to conventional crypto exchanges, it occupies a distinct niche.
Is it Safe to use a Non-KYC Crypto Exchange?
If you like to trade derivatives, Weex is the place for you, with USDT perpetual, inverse contracts, and simulated contracts on offer. The trading fees are low, at just 0.02% for makers and 0.06% for takers. There are 30+ of the most popular cryptocurrencies to trade, and you can access up to 200x leverage, much higher than most competitor exchanges. Phemex is a Cryptocurrency exchange that was launched in 2019 by a team of Morgan Stanly executives. The platform is based in Singapore and is known for its high-speed trading and advanced features. It offers a range of trading instruments, including spot trading and futures trading with up to 100x leverage.
However, since there is no KYC required, if you really want to use Bybit, you can download a VPN and set the location to Australia, where Bybit is accepted. This exchange platform has been on the market for over 7 years and has millions of satisfied clients. Its mobile app not only gives you a quick way to get crypto on the go but also sends you price alerts, keeps you updated on the latest crypto news, and more. Learn about the rise of decentralized finance (DeFi) platforms, why they’re becoming so popular, and potential challenges.
On the other hand, there are some that have no restrictions on how much you can withdraw, such as CoinSwitch. Changelly is a crypto exchange that fits all your requirements and is KYC free. The platform lets you buy/sell, exchange, trade, and swap cryptocurrencies under one interface.
#3. Weex: Best no KYC exchange for margin market depth in the USA
Although non-KYC exchanges offer benefits, users should also consider potential risks and conduct thorough research before choosing a platform. Hodl offers a variety of different payment options for peer-to-peer transactions. Even if your exchange doesn’t KYC, you are still legally required to report any income generated from your crypto investing activity on your taxes. Remember, tax evasion is a serious crime with serious consequences.
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For example, in the event of a cyber-hack or a technical failure, the trader will be able to prove that he owns his account and can get his funds back. Copy trading is another excellent feature of MEXC, as it allows users to automatically mimic the trades of successful investors. This is great for those who are new to trading, or even experienced traders who don’t want to spend time researching the market and conducting technical analysis. Their platform is available in over 180 countries in over 25 languages and is currently trusted by over 13 million users. Gate.io required absolutely no personal identity verification and allows investors to onboard in seconds with an email address and password, or MetaMask account.
The connection to a hardware wallet adds to your anonymity on the exchange. Fixedfloat provides a detailed description of each cryptocurrency which is essential for new crypto traders on the market. You can bookmark your favorite trading pairs to ease your trading experience.
AAX is another option of no KYC crypto exchange, and is the best choice for those who are looking for lots of advanced features. AAX has spot trading, futures trading, and OTC service desk, as well as crypto interest earning options. The exchange is powered by LSEG Technology so the transactions are lightning-fast. The trading fees on Margex are extremely low, but keep in mind that this is for margin trading only – there is no spot trading available on this platform. The fees are 0.019% for makers, and 0.060% for takers, and you can access up to 100x leverage. Most of the best crypto exchanges follow strict KYC (Know Your Customer) protocols, to comply with local legislations regarding AML (anti-money laundering) regulations.
KYC guards crypto exchanges and other platforms from scammers that want to launder illegally gained funds. It also helps governments to regulate taxation and helps to trace stolen funds. All of these things are vital for keeping the crypto industry safe and secure — and necessary if crypto is ever to go fully mainstream.