Most aspects of crypto exchanges are subject to regulation. For this reason, finding a crypto exchange with no KYC can be challenging. In this article, we have researched and curated a list of the top 10 best no KYC crypto exchanges in 2025. Let’s dive in!
What is KYC?
KYC stands for Know Your Customer or, in some settings, Know Your Client. It is the process by which businesses or companies verify the identity of their customers to combat illicit activities, such as identity theft or money laundering. Companies use KYC as a risk assessment to prevent fraudulent platform activity.
Best non-KYC crypto exchanges
| Exchange | Cryptocurrencies | KYC Policies | Availability |
| XT.com | 800+ | Tiered KYC | Not available in the USA, Singapore, mainland China, Canada |
| Digifinex | 700+ | Tiered KYC | Restricted in the USA, Singapore, Canada, and China |
| MEXC | 2,000+ | Tiered KYC | Not available in the USA, Singapore, mainland China, Canada |
| CoinW | 1,000+ | Tiered KYC | Not available in the US |
| Changelly | 500+ | Tiered KYC | Not available in the US |
| Bisq | BTC, BSQ | No KYC | Accessible globally |
| LBank | 800+ | Tiered KYC | Not available in the USA, Singapore, mainland China, Canada |
| Toobit | 1000+ | No KYC | Not available in the USA, mainland China, Canada |
| PancakeSwap V3 | 1000+ | No KYC | Accessible globally |
| Hyperliquid | 100+ perpetual contracts | No KYC | Accessible globally |
Best Crypto Exchanges Without KYC Reviewed
When curating our list of the best crypto exchanges without KYC, we handpicked the best exchanges from various categories. We also prioritized platform security, reputation, and trading features.
XT.com: Best No KYC exchange for most users
XT.com is a centralized crypto exchange established in 2018 and registered in Seychelles. The exchange boasts over 7.8 million users, with an average of 1 million active users monthly. The exchange supports 800+ crypto assets and ranks #20 on CoinMarketCap’s list of top exchanges by trading volume.
XT.com stands out in this list for offering ETF trading. Other notable features include an auto-invest bot, pre-market, and derivative trading. Pre-market trading allows you to trade cryptocurrencies before their official listing on crypto exchanges.
Your 30-day trading volume or XT token holdings determine your trading fees on XT.com. The cost varies between 0.02% and 0.2%. The higher your trading volume or XT holdings, the lower the fee applied to your trades.
KYC Policy
Traders can deposit, trade, and withdraw crypto up to a specific limit without submitting KYC details. The daily withdrawal limit for unverified traders is capped at 200,000 USDT. The value goes up to 10M USDT for verified traders and 15M for enterprise traders. Unverified users cannot perform peer-to-peer trades.
Pros and cons
Pros:
- Vibrant Telegram community with about 200K members available in English, Chinese, and Korean.
- Has a proof of reserve of over 120% of customer funds, which is verifiable using Merkle Trees.
- Fast customer live chat service available 24/7.
- Up to 20x leverage on margin and 125x leverage on futures.
- Advanced trading tools like pre-market trading.
Cons:
- You must complete KYC to access the peer-to-peer trading feature.
- Higher futures trading fees than industry leaders.
Digifinex: Best no KYC exchange for beginners
Digifinex is a digital asset trading platform founded in 2017 with over 6 million registered users and 650K active monthly users. It has offices in 6 countries. The exchange supports 600+ trading pairs and is ranked #34 in trading volume by CoinMarketCap.
Digifinex offers a full suite of trading products, including margin trading, derivatives trading, and a launchpad. The Digifinex crypto launchpad has launched 20 projects and raised $4 million in its most successful launch.
The exchange offers a tiered trading fee schedule based on trading volume. Spot trading fees vary between 0 and 0.2% while margin fees vary between 0.1% and 0.025%.
KYC policy
Non-verified traders can comfortably deposit, trade, and withdraw on the platform; however, the daily withdrawal limit is 10K USDT. For higher limits, you can verify your ID to get up to 50K USDT, which, with a liveness check, raises the limit to 500K USDT. Traders who get their proof of residence verified enjoy a daily withdrawal limit of 1M USDT.
Pros and Cons
Pros:
- Up to 100X leverage on derivative trading
- 100% proof of reserves
- High liquidity, with a bid-ask spread of 0.001%
Cons
- Does not offer automated bot trading
MEXC: Highest number of listed cryptocurrencies
MEXC has been around since 2018 and has amassed over 30 million users. As a pioneer in the space, MEXC has perfected the art of simplifying crypto trading, making it a perfect choice for beginners. MEXC’s matching engine can reportedly process up to 1.4 million transactions a second, meaning instant trade settlement.
Other than spot trading, you can explore passive income-earning products or trade futures. You can also opt for their decentralized exchange to connect your wallet and trade anonymously. However, trading on a DEX requires knowledge of how crypto wallets and blockchain transactions work.
MEXC offers some of the lowest fees in the market. Spot and future maker trades are free of charge. Spot taker fees are 0.05%, while future taker fees are 0.02%. A maker is an order that adds liquidity to the order book, while a taker removes liquidity from the order book by being immediately matched with an existing order.
KYC policy
MEXC KYC policy allows you to deposit, trade crypto, and withdraw up to 10 BTC or equivalent daily. However, it’s important to note that you may be asked to submit KYC verification documents if your account triggers their risk control mechanisms.
You can withdraw up to 80 BTC or equivalent daily after completing KYC verification. The value rises to 200 BTC when you complete advanced verification, which involves submission of a government-issued ID and completing a facial recognition task.
Pros and cons
Pros:
- Has a full-fledged decentralized exchange.
- Zero maker fees on both spot and futures trading.
- Enticing giveaways – gold bars and BTC.
- Competitive fee structure.
Cons:
- Accessing a live customer agent on chat can be confusing.
- No bot trading
CoinW: Best non KYC crypto exchange for futures trading
CoinW is a centralized crypto exchange established in 2017 with about 15 million registered users. According to CoinMarketCap data, the exchange ranks among the top four in futures markets and among the top 30 in trading volume.
Other than trading, Coins offers other products tailored to beginners and mid-level traders, such as CoinW academy and CoinW Livestream. CoinW Academy is a learning resource curated for beginners and mid-level traders looking to sharpen their crypto acumen. CoinW livestream features live sessions with elite traders to update you on market trends and strategies.
The base fee for spot trading is 0.2%. Users who hold the CWT token, the exchange’s native token, are eligible for trading discounts. For futures trading, the fee for makers is 0.01%, and for takers, it is 0.06%.
KYC policy
Users can deposit, trade, and withdraw up to 0.1BTC daily without completing KYC requirements. However, by completing KYC, you become eligible for added benefits. These include higher withdrawal limits, access to P2P trading, and a CoinW card.
Users who have completed basic verification by uploading their ID can withdraw up to 5BTC. Those who complete advanced verification can withdraw up to 100 BTC or equivalent.
Pros and cons
Pros:
- Offers bot and copy trading
- Mobile application available on the App Store and the Google Play Store
- Dedicated learning centre for beginners
- Fast customer care support through live chat.
Cons:
- High spot trading fees when compared to competitors
Changelly: Top P2P platform for crypto and fiat swaps
Changelly is the oldest platform on our list, having launched in 2015. Over the years, Changelly has perfected a platform that allows you to swap cryptocurrencies without signing up for an account. To trade, you provide the wallet address to receive crypto after paying.
Besides swapping crypto, you can pay for crypto from your bank account, sell crypto, and receive the funds in your bank account. The platform also offers opportunities to earn crypto through their ‘Changelly Earn’ product.
Trading on Changelly attracts a 0.25% trading fee. For fiat-to-crypto purchases (buying), have a 4%, but the final cost depends on factors like the currency pair, your country, market rates, and volatility. Selling crypto for fiat fees depends on the provider and transaction details.
KYC policy
You can swap cryptocurrencies on Changelly without KYC; however, if their risk-scoring system flags your transaction, you may be asked for your details. In that case, your transaction will be put on hold, and you will be contacted by their AML compliance team.
To avoid such hiccups, you can also contact their compliance department and complete KYC through a link they will share with you.
Pros and cons
Pros:
- An intuitive interface that is simple to navigate.
- The platform is non-custodial, meaning it doesn’t store your crypto; it remains exclusively in your wallet throughout the process.
Cons:
- Does not offer futures trading.
- No copy trading or bot trading
Bisq: Best DEX for Bitcoin trading
Bisq is a decentralized exchange built on open-source software. The trades occur on a global network of peer-to-peer traders running Bisq on their devices. Unlike centralized exchanges, Bisq never holds your crypto. All deposits are held in multi-sig wallets that require both the buyer and seller to sign to release funds.
Bisq is not a website but rather a downloadable application. It also comes with a Bisq Easy version designed especially for new Bitcoin buyers to safely acquire their first Bitcoin.
Transaction fees are a percentage of the total trade size. Makers pay 0.1% while takers pay 0.7%. Traders who settle fees using the exchange’s native coin BSQ receive a 50% discount on fees. Remember, you also have to pay blockchain gas fees when trading.
KYC policy
Bisq is a non-custodial exchange, meaning it does not control or store your money at any point. Its decentralized nature means it is not bound to any one jurisdiction, for that matter, is entirely anonymous, and does not require KYC. However, some aspects of their operations are subject to regulation.
Pros and cons
Pros:
- Bisq requires no registration or KYC, protecting your privacy.
- Completely anonymous transactions.
- Discounted fees with BSQ.
Cons
- No customer service live chat feature.
- Decentralized exchanges are not beginner-friendly.
- Limited cryptocurrency listings.
LBank: Largest selection for meme coins
LBank, established in 2015, distinguishes itself from other crypto exchanges by offering the market’s largest selection of meme coins. The exchange boasts over 15 million registered users worldwide. Additionally, the exchange offers the fastest token listing time of 1 hour, keeping you on top of the latest market offerings of low market cap cryptocurrencies.
Other services on LBank include futures trading with over 600 trading pairs, copy trading, and diverse earn products for passive income. Some products, including pre-market trading, require users to complete KYC before participating. Pre-market trading allows users to trade a new cryptocurrency before it is officially listed on an exchange.
The exchange charges a flat rate of 0.10% on spot trading and 0.20% on leveraged trading. For futures, market makers pay 0.02%, while takers pay 0.06%.
KYC policy
There are no trading limits for users who have not completed KYC verifications; however, there is a daily withdrawal limit of 10,000 USDT or equivalent.
You get an additional 20,000 USDT limit when you verify your phone number. Complete 2-factor authentication and get an additional 270,000 USDT. An additional 20,000 USDT for setting assets password, 40,000 USDT for completing KYC, and some more 60,000 USDT for completing facial recognition.
Pros and cons
Pros:
- Low spot and futures market trading fees.
- Fast token listing time.
- Fast customer care service through live chat.
Cons:
- Multiple underperforming coins
- No bot trading
Toobit: Best crypto exchange without KYC for derivative trading
Toobit is a crypto derivatives trading platform established in 2022. It offers up to 175X leverage for positions on 600 trading pairs. The exchange has 2M active traders and a daily trading volume of over $15B. It also promises zero slippage on 50 trading pairs, no matter the trading amount.
Despite focusing on derivative trading, Toobit also offers spot and copy trading. They also have a decentralized exchange where popular Web3 on-chain tokens can be found. Features like ‘Futures DCA’ help you apply Dollar-Cost Averaging(DCA) strategies in your Futures trading.
Toobit has a tiered fee system based on asset balance and 30-day trading volume. The higher the values, the lower the fee schedule. Fees range between 0.06% and 0.1%. Futures trading fees are generally lower than spot trading fees.
KYC policy
Toobit is a no-KYC crypto exchange with zero limits on trades or withdrawals. Per their policy, KYC helps improve security and protect your personal information. Also, you might be required to complete KYC if you use a third-party service provider to buy crypto on the platform.
The KYC verification process takes approximately 15 minutes; however, depending on the nature of the data submitted, it can take up to 1 day.
Pros and cons
Pros:
- Fast customer service on live chat.
- Low futures trading fees
- Mobile application available on Apple and Google Android devices
Cons:
- Relatively high spot trading fees
- It is not clear when the exchange might request KYC compliance
PancakeSwap V3: Top DEX by trading volume
PancakeSwap V3 tops the list of decentralized exchanges by trading volume. According to on-chain data, the DEX has facilitated $33.60M in trades across nine blockchains in the last 30 days.
The DEX also offers a bridging tool to help you move cryptocurrencies across blockchains. Other features include perpetual trading, which offers up to 1,001X leverage on positions in ‘Degen mode, ‘ and lottery and prediction games.
In Exchange V3, by default, PancakeSwap Smart Router finds the best prices to execute user trades on available liquidity pools. Users also have the option to customize their trades by selecting their preferred liquidity sources. The fee ranges between 0.01% and 1%.
KYC policy
Decentralized exchanges are not bound to any one jurisdiction. Smart contracts facilitate completely anonymous crypto exchanges; for this reason, they do not request user identification. However, it is essential to note that crypto transactions are banned or heavily regulated in various jurisdictions. The user must verify whether transacting on such platforms is permissible in their jurisdictions.
Pros and Cons
Pros
- High-leverage trades have lower trading fees and zero charges for opening positions.
- Large community of over 2.4 million users.
Cons
- No customer live chat option.
- Not beginner-friendly.
Hyperiquid: Top DEX for perpetual contracts
Hyperliquid is a decentralized crypto exchange launched in 2024. In months, it rose to command 25% of the DEX market share by trading volume. The exchange is built on the Hyperliquid blockchain and has a full on-chain order book.
Hyperliquid offers seamless trading without needing multiple wallet approvals, which tend to interrupt your flow. Traders can also access up to 40X leverage on all trades. All trading functions, including funding and liquidations, take place on-chain.
KYC policy
Decentralized exchanges do not require KYC verification. Unlike centralized exchanges, Hyperiquid facilitates peer-to-peer trades through smart contracts, removing the need for user identification.
Pros and cons
Pros:
- The Hyperliquid stack facilitates zero gas fees on trades.
- High liquidity on popular cryptocurrencies.
- Has a native token, HYPE, that users can stake for passive income
Cons:
- The platform is not beginner-friendly.
- No bot and copy trading
What to consider while choosing a no-KYC crypto exchange?
Security features
Check for advanced security tools such as multifactor authentication, real-time monitoring, and SSL encryption to protect user data. Bug bounty programs and third-party security audits help find and resolve platform vulnerabilities.
Trading fees
Exchanges collect fees to settle operating costs, prevent spam, and facilitate premium offerings. The fees vary across exchanges. Check for competitive fee models to ensure maximum returns from your trading activity.
User reviews
User reviews from third-party providers like Trustpilot or Quora provide a first user experience of using the platforms. Check for repeated complaints and whether the raised issues were resolved.
Ease of use
Decentralized platforms do not collect user identity information. However, these platforms can be challenging to navigate and require prior knowledge of on-chain transactions and cryptocurrency wallets. For centralized exchanges, opt for those committed to user education.
Customer Support
Customer support is critical in the fast-paced world of crypto currency trading. You can begin by contacting customer support to see how long they take to respond. A fast response could be the key factor in whether you will make a profit or recover your funds in the case of a security incident.
Available cryptocurrencies
New cryptocurrencies launch every other day. Ensure your no-KYC exchange supports your cryptocurrency and its blockchain. Also, inquire about the cryptocurrency’s liquidity. Ample liquidity means the exchange can settle large orders at market prices.
Are no-KYC crypto exchanges legal?
The legality of exchanges without KYC varies by jurisdiction. Some jurisdictions require strict anti-money laundering requirements from crypto exchanges, while countries like China and Nepal have heavily restricted or outrightly banned cryptocurrencies. Other countries have yet to develop clear laws, meaning no KYC exchanges operate in a grey area.
Decentralized none KYC crypto exchanges like Uniswap can be challenging to regulate as they have no central jurisdiction, even though some of their operations are subject to legal scrutiny. Countries that have banned no KYC crypto exchanges cite the potential for illicit activities and undermining the traditional financial system.
Is it safe to use an OKYC crypto exchange?
Non KYC exchanges are safe because they offer user data privacy and reduce the chances of legal scrutiny. The exchanges can be ideal for users who need to mask their financial activities, such as private donations, or for unbanked populations without bank accounts.
However, no KYC exchanges risk getting exposed to financial fraud and scams. In the case of an incident, following up with authorities to identify the perpetrators can be difficult. Anonymous transactions can also make tax reporting difficult.
Conclusion
The legality of no KYC crypto exchanges varies by jurisdiction. These exchanges also operate in a grey area, as many countries have yet to pass clear laws governing their operations. There are multiple non-KYC exchanges in the market; however, most are limited and require users to complete verification to access all their offerings or to achieve higher trading limits. For complete anonymity, no-KYC DEXs are a top choice as they do not collect user information. However, check the legality of these exchanges in your country before signing up.
