Many people don’t like giving out their personal information online.
Are you one of them?
If you’re among these kind of people, then you’ve come to the right place.
In many countries around the world, including the United States, Canada, the UK, New Zealand, and Australia, KYC (i.e. Know Your Customer) laws and regulations were enacted to prevent banks and other financial institutions from being used by criminals for money laundering activities.
Following the numerous risks in the crypto market, many exchanges nowadays require KYC checks.
The procedures are especially standard in centralized cryptocurrency exchanges.
In fact, centralized exchanges have made it mandatory that you must pass through their KYC ID verification before using their platforms.
Investors who would rather not give their personal information to these platforms, may have a hard time finding exchanges that accommodates them
However, there are still dozens of exchanges you can access without exposing your personal documents and identity.
Let me show you some of them.
Crypto exchanges without KYC
Below are the best Altcoin exchange platforms that does not require AML (Anti-Money Laundry) verification.
1. Binance (Best centralized)
Binance is one of the best cryptocurrency exchange in the market that supports all popular Altcoins.
If your daily withdrawal limit is no more than 0.06 BTC, it will let you use it anonymously, without the need to do KYC.
Note: It does not offer services to users from USA. If you are from USA, you should look at Binance alternatives, or other anonymous crypto exchanges below.
This exchange is registered in Malta and outside the jurisdiction of the USA, China or other countries that could ask users for AML data.
2. Changelly (Centralized)
Changelly is a centralized swapping service, which does not push you to complete the AML in order to use its services.
You don’t need ID verification for registering and using their services. For enhanced security, you can also use a VPN.
However, it requires you to have supporting coins like LTC/ETH/DASH etc. to exchange for BTC or any other supporting currency.
If you have altcoins, you can buy Bitcoins in seconds with no verification using Changelly.
3. ByBit (Centralized)
Bybit is a popular no KYC derivative exchange, that supports USDT perpetual and Inverse perpetual contract.
You can trade BTC, ETH, XRP, EOS, SUSHI, AAVE and USDT coin.
4. 1Inch (Decentralized)
1Inch cryptocurrency exchange is perhaps one of the best non KYC exchange out there for ERC20 token.
It is a DEX aggregator which helps you get the best rates from decentralised exchanges like UniSwap, Sushi and others.
If your purpose is to do exchange crypto assets without worrying about KYC, this is the best platform for you.
You can connect to 1Inch exchange using metamask, or any wallet connect supported crypto (e.g. Trust) wallet.
5. ThorSwap (Decentralized)
ThorSwap is the world’s first multi-chain DEX powered by Thorchain, which provides an interface to perform cross-chain swap.
What this mean for you is, you’ll be able to exchange Bitcoin for Ethereum permission-lessly, and without any verification.
There are many more chains which are supported by Thorchain, and it is one of it’s kind.
They have started becoming popular, and anyone looking for no KYC crypto exchange, should look into Thorswap.
6. BisQ (Decentralized)
BisQ (known as BitSquare) is a peer-to-peer marketplace for cryptocurrencies like BTC, ETH etc.
It’s a decentralized exchange that requires no identity verification, so there is no need for AML.
Also, your privacy is secured, because it uses Tor and doesn’t hold fiat or Bitcoins on their servers and their account.
Currently, it supports 126 cryptocurrencies (including BTC) and is available on Windows, Mac, and Linux platforms. The trade volumes, however, are low.
The volume at the time of writing on this exchange is 4 BTC with 11 cryptocurrencies/crypto assets pairs listed on it.
Best non-KYC exchanges
Undoubtedly, AML verification on exchanges helps to keep these platforms safe for users to avoid engaging in malicious activities.
However, it stripped the anonymity, which was one of the significant features that drew people to digital currencies.
Despite the security offered, KYC procedures could also pose a potential threat to investors in case of data breaches.
This is why many crypto enthusiasts kind of try to maintain their privacy, when transacting on public ledgers.
In other words, the best way to buy Crypto without KYC is using permission-less swap (i.e. decentralized exchange) due to their maximum security.
However, if you’re a beginner trying to buy crypto without KYC, the best solution should be P2P exchanges.
These type of platforms are basically anonymous, because they normally do not require that you provide much details.
To learn more about P2P cryptocurrency exchanges, you can read my guide on best Peer-to-Peer crypto platforms.
Keep in mind that there are some other available options, but these ones listed above are the ones I’ve tested myself.
If you need any other exchange not on this list, then you’ll need to do your research for a platform that suits you.
Don’t forget to always transfer your crypto-coins away from the exchange, where you bought them to avoid loss.
Ledger Nano X/S are the best recommended hardware wallets you should be using to keep your cryptocurrency safe.
