With the introduction of cryptocurrency, its anonymity and decentralization have been the talk of the town. The lesser-known fact is that the business of cryptocurrency is done with the help of cryptocurrency trading exchange which include both centralized exchange and decentralized exchange. There is a long list of financial institutions that require proper authentication processes for carrying out business activities in cryptocurrency.
Some companies are offering services as KYC crypto exchange, while some provide their service with no kYC.
What is KYC? You must be wondering about what KYC is. KYC is the abbreviation that stands for “know your customer.” The present article will deal with the list of the top 15 no-KYC crypto exchanges. Let’s begin our blog to know how you can carry out your business without compromising the personal information and details of your identity, which has the possibility of getting misused.
KYC
As we have previously mentioned that KYC stands for know your customer. It is the legal process that all legal, regulatory institutions, and financial companies tend to use to verify their customers. It is the best way to assess the possible risks and illegal intentions which come with crypto investors. These risks and illegal purposes include terrorist financing, money laundering, and other finance-related crimes.
The process of KYC is the process of collecting and verifying the personal details of their customers. These details include the names, residential and permanent addresses, governmental-issued identity cards, date of birth, etc., which can be used for tracing out the terrorists in case of any illegal activity.
All the information mentioned earlier is entered into the database, which is encrypted for future use. The respective institutions also verify all the provided documents to avoid any red flags and criminal activities.
The cryptocurrency exchanges either working as non KYC crypto exchange or with KYC crypto exchange, both offers the business in fiat currencies at the advanced trading platform, margin trading, future trading, low trading fee with high trading volume for novice traders, advance trading platforms for fiat currency deposits, trading pairs, margin and future trading, and much more.
KYC is one of the mandatory elements of CTF (counter-terrorism financing) and AML (anti-money laundering). AML and CFT are required in many countries. KYC is becoming a common practice in many exchanges and trade-related programs. KYC documents are required for trading and withdrawing funds. This practice is because cryptocurrency is used in illegal activities on an enormous level.
Why do Traders want To Avoid KYC?
There is a long list of traders who want to avoid the KYC. Why would anybody want to skip the legal requirements? Let’sLet’s go through the reasons.
Privacy
Many people feel uncomfortable sharing their personal information and are concerned about how and when their data would be utilized.
Anonymous Users
Some traders want to remain anonymous while doing financial transactions, while the KYC process requires the disclosure of identities. Some people are not comfortable with the exposure of their identities.
Time Consuming
KYC is one of the most time-consuming processes. Additionally, uploading the scanned documentation requires a lot of struggle and then waiting for approval to start the digital trading.
Safety
Some traders do not feel secure in sharing their personal information and are strongly concerned that their identity disclosure can lead to fraudulent activities and frauds. Some traders have also shown concern that there is a strong chance that their personal information is at risk in the name of third-party authentication or KYC.
Access
KYC also creates problems in certain countries. This means that for completing the process of KYC, there are restrictions in specific regions and countries, which makes it more challenging to complete the KYC process.
KYC also limits the activity ratio. We can understand with the help of an example. Certain countries do not allow the use and trade of cryptocurrency. When the KYC process is done in those countries, there will be an automatic restriction of the account due to a regional ban.
We have discussed in detail the need for no KYC crypto exchanges. We will go through the cryptocurrency exchange offering their services without KYC or any other documentation.
15 best No KYC Crypto Exchanges
In the proceeding lines, we have compiled a list of the institutions offering services with no KYC. Their names include
- AAX
- Base FEX
- Binance
- Bitfinex
- By Bit
- Coin Switch
- DYDX Exchange
- Evonax
- Fixed Float
- Hold Hodl
- Kraken
- KuCoin
- Simple FX
- Trade Ogre
- Paybis
Let’s go through the details of each of these no-KYC exchanges.
AXX
It is one of the cryptocurrency trade exchanges. This trade exchange offers the futures, spot, and over-the-counter markets. It also possesses a matching engine. This engine is based on the LSEG technology. This is the same technology used in the London stock exchanges, which works as the first-tier exchange.
Although it does not offer any verification, to the astonishment of many readers, over two million traders have shown their interest and trust in this crypto exchange. They also proved satisfied with the interface and the user-friendly experience this crypto exchange provides.
This crypto exchange offers over 50 pairings for crypto-to-crypto usage. It also provides withdrawals, money deposits, market tracking, etc. This network’s services include 20 currencies (including peer-to-peer and cash coins). The transactions that the platform offers include speedy deals and secure encryption.
The withdrawal limit for AXX is only 24 hours for two bitcoins. With KYC, the users with KYC, the users can withdraw about 100 bitcoins in 24 hours time span.
Base FEX
The following no KYC crypto platform in this list is the Base FEX. It is a brand-new digital platform requiring only an email address to complete the signup. There is no additional information required for this website.
The claim of this crypto exchange is presenting organic and original ideals for crypto, which makes it one of the trustworthy platforms. This no-KYC crypto exchange only supports Bitcoin. There is no other fiat currency accepted. The users can trade Bitcoin, invest, buy, and sell only in Bitcoins. There is no limit to withdrawal.
Binance
It is one of the best no-KYC crypto institutions which has initiated the acceptance of all the altcoins. It also allows anonymous trade activities. The minimum limit is 2 Bitcoin daily, and this platform does not require a KYC procedure. There is nothing to be confused about the policies of Binance regarding the no KYC policy. There is a withdrawal limit for unverified accounts. The limit is only 0.06 Bitcoin daily. The authenticated and verified accounts could transfer and withdraw at least one hundred Bitcoins daily.
Bitfinix
It is known as one of the top no-KYC crypto exchanges globally. This KYC crypto exchange has been offering its services for a long time, involving a series of largest hacks, problematic incidents, Tether printing issues, and much more.
Despite all the problems and issues, the no KYC crypto is still functional and operates with the deepest liquidity pool and highest trading volumes.
The withdrawal limit for unverified accounts is two Bitcoins, while one hundred BTC is for the verified accounts.
By bit
It is one of the renowned spots. It is one of the derivative exchanges with no KYC. Almost all the features of Bybit are splendid, including computational efficiency, volume, and usability. All these features have resulted in the spontaneous rise of this crypto exchange with no KYC. This financial institution is one of the best no-KYC crypto exchanges for traders.
This platform handles four major currencies. This includes COS, BTC, XRP, ETH, etc. There is also a reward program, one of the costliest trading rewards globally. This reward program offers novice traders up to 90 dollars for initiating the trade. There is unlimited withdrawal on this platform.
Coin Switch
This no-KYC crypto offers the quickest trades with 300 crypto coins which do not require opening an account for the exchange procedure. The portal of this crypto exchange allows you to buy crypto without an account with the exchange. The payment methods on this platform include Visa Credit Cards and Mastercard. There are no withdrawal limits with this platform.
DYDX Exchange
Regarding volume exchange, DYDX is labeled one of the best crypto exchanges with no KYC. It is one of the vast, decentralized exchanges. Ethereum offers the base for this exchange with order book DEX, which is not custodial. There are smart contracts that provide accessibility, accountability, and privacy at many levels. The trade on this platform is free for smaller accounts and minimum withdrawals. They also offer low trading fees.
Evona
This no-KYC crypto exchange was initiated in 2016. This No KYC crypto exchange allows quick trading sessions for various cryptos. Evonax is a network of businesses that offers security and privacy as their priority at the global level. It is also one of the international quickest swaps running cryptocurrency exchange which is in use by many traders at individual and commercial levels.
This platform also offers trading pairs for the assistance and help of customers. This is one of the pure crypto exchanges which do not ask for more than a simple wallet address for transactions.
The limit for withdrawal depends upon the currency. There is a limit for minimum withdrawals but no limit for maximum withdrawals.
Fixed Float
For peer-to-peer crypto trading with no KYC, the Fixed Float is one of the premium options. This exchange has no currency or valuables in their wallets and storages. It is regarded as one of the finest exchanges which can be linked with a crypto wallet with No KYC verification and identity verification. There is also the facility for expedited transactions on this exchange. This feature is made possible due to the quickest confirmation rates.
For new crypto traders in the cryptocurrency markets, this platform provides the fundamental knowledge for each crypto coin. It also demonstrates a thorough networking fee that remains constant for all transactions. This platform also offers the choice of floating and fixed rates for trading bitcoin in the cryptocurrency market.
There are no withdrawal limits for this platform.
Kraken
One of the most famous platforms based in the United States, Kraken offers its bitcoin trading and cryptocurrency investment services in peer-to-peer sessions with no KYC crypto exchange. This is one of the few global exchanges which allows 50 times more leverage to the customers of the United States. This cryptocurrency platform offers several other services, along with the OTC desk, institutional account management, No KYC trading exchange, and much more.
There is a withdrawal limit for Kraken. The users can draw 5 thousand USD with no KYC. This is the minimum amount, while the maximum is one lakh USD with KYC verification.
KuCoin
The following crypto exchange with no KYC is KuCoin in this list. The specialty of this crypto exchange is that it offers its support to more than 370 cryptocurrencies. This range makes this platform one of the most extensive and diverse crypto exchanges. All the requirements for trading KuCoin are based on an email address. The account verification and KYC option are dependent upon the cryptocurrency exchange.
There is no compulsion for crypto traders to undergo the process of KYC for their account confirmation. They can use the option of KYC if they observe any suspicious or disagreeable activities in their account. They can also trade for more than two bitcoins daily. It is totally up to the trader’s intention.
In addition to the features mentioned earlier, this crypto exchange offers some promising crypto-related projects. There is quite a transparent and straightforward trading experience for all traders. If we talk about the withdrawal limits, traders can withdraw five bitcoin per day. With KYC, traders are allowed to with up to one hundred bitcoins within 24 hours.
Simple FX
The next name in the list of top no KYC crypto exchanges is SimpleFX. This platform offers competitive spreads, cutting-edge technologies, and many other clear terms. The trading done on this platform is done with the help of Bitcoin. One of this platform’s most promising aspects is its competitive nature.
The users are allowed to visit their websites without disclosing their personal information. The registration process only requires a single email address. This email address is also used to alter passwords for suspicious activities.
If we talk about the withdrawal limits, this cryptocurrency exchange has no withdrawal limits.
Trade Ogre
Trade Ogre is one of the cryptocurrencies offering their functions under the original RADAR. This feature provides a clear and transparent experience for trading, which does not require personal details or KYC. If we compare this crypto exchange with other platforms for digital trading, this can be regarded as having a low fee.
There is no limit to the withdrawal of funds. It also specializes in offering private cryptocurrencies such as Monero, Zcash, and PriveChain.
Paybis
This is one of the crypto exchange platforms which offers its support to the ten cryptocurrencies in total. This platform does not require crypto holding and offers pure liquid services. This platform is easy to use with KYC completion, and users can trade in cryptocurrencies like any other platform, as with BnB and USTD.
The premium feature of this platform is that it also links traders with other cryptocurrency exchanges. The more connections a user has, the more anonymity is increased on the forum.
To increase anonymity on this platform, the users must have more and more connections to their hardware wallet if we compare this platform with other conventional crypto platforms. This exchange has a unique niche. The withdrawal limit for this exchange is 20 thousand dollars in 24 hours.