9 Best Anonymous Crypto Exchanges with No KYC for 2025

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Eliman Dambell

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Eliman Dambell

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Eliman Dambell was a news writer and editor at Bitcoin.com, FXStreet and Investing.com. He commentates on various markets, including Crypto, Stocks and FX.

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Last updated:

March 18, 2025 10:52 EDT

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No KYC exchanges allow you to buy and sell cryptocurrencies anonymously. In many cases, you won’t be required to open an account – let alone upload verification documents.

This guide ranks and reviews the 9 best anonymous crypto exchanges with no KYC for 2025. We assessed over 80 legitimate exchanges for supported cryptocurrencies, trading fees, wallet storage, advanced tools, and security to give you the 9 best ones.

Best Anonymous Crypto Exchanges Shortlisted

Best Wallet

Best In-Wallet Crypto Exchange

• Anonymous in-wallet crypto exchange with no KYC requirements
• Trade thousands of coins across 60+ blockchains with low fees
• Beginner-friendly interface with numerous payment options

Visit Site

9.8

Review

Margex Exchange

Best No KYC Exchange with Leverage Trading

• Low trading fees and lightning-fast order execution speed
• Make big trades with leverage up to 100x
• Deposit a single crypto and trade all coins with Margex's Multicollateral Wallet

Visit Site

8.9

Review

BloFin

Meet and Follow The Best Traders via Copy Trading

• Earn commissions up to 50% with BloFin affiliate
• Grab rewards up to $5k
• HODL your crypto holdings to earn rewards

Visit Site

9

Best No KYC Exchanges – Full Reviews

No KYC in crypto means no identity verification is required to trade. You maintain privacy and avoid sharing personal data, which makes the process faster, more private, and easier to navigate. However, you might face fewer features and lower withdrawal limits. Exchanges like Binance have KYC, while others like Best Wallet or Margex offer no KYC options.

If privacy and speed are priorities over transaction limits for you, read our full reviews of the 9 best no KYC crypto exchanges for 2025. Here, we take a close look at key metrics, such as fees, supported coins, security, and user-friendliness.

1. Best Wallet – Overall Best No KYC Crypto Exchange for 2025

We rate Best Wallet as the best no-KYC crypto exchange in 2025 for trading and storing digital assets. As a decentralized exchange, it allows you to trade directly from your wallet, ensuring full control over your funds without the need for identity verification.

With support for over 1,000 cryptocurrencies, Best Wallet lets you diversify your portfolio with ease. Its user-friendly interface simplifies the trading process, making it an excellent option for both beginners and experienced traders. Additionally, we were impressed by the platform’s competitive fees, ensuring cost-effective transactions compared to other decentralized exchanges.

Beyond trading, Best Wallet provides integrated features such as staking and yield farming, allowing you to earn passive income from crypto. The platform’s commitment to user autonomy and privacy, combined with its comprehensive service offerings, solidifies its position as the top no-KYC crypto exchange in 2025.

Visit Best Wallet

2. Margex – Best for Trading With Leverage

Margex is a no-KYC crypto exchange known for its high-leverage trading options. You can trade with leverage up to 100x on various cryptocurrencies, allowing for significant position amplification. This is a key reason we recommend Margex as one of the best crypto leverage trading platforms.

While it doesn’t boast the highest number of supported coins on our list, the platform lets you trade over 50 cryptocurrencies, including Bitcoin, Ethereum, and Solana, providing a solid range of trading pairs. Margex offers competitive fees, with trading commissions starting from 0.019% per slide. We also enjoyed the user-friendly interface, which caters to both novice and experienced traders.

Security is a priority at Margex, with 100% of client-owned coins stored in cold wallets and 2FA account protection. The platform also features a copy trading tool, letting you mirror the strategies of successful traders.

Visit Margex

3. BloFin – Best for Futures Trading

BloFin is a no-KYC crypto exchange specializing in futures trading. You can access a wide range of perpetual contracts with leverage options up to 150x. This feature positions BloFin among our top picks for the best crypto futures trading platforms.

The platform supports various top cryptocurrencies, including major ones like Bitcoin and Ethereum, more niche ones like Ondo and Phala, plus a solid collection of memecoins such as Popcat and Ponke. BloFin also offers competitive fees, with trading commissions starting from 0.02% for futures trading. Additionally, the user-friendly interface caters to novice and experienced traders.

Security is a priority at BloFin, with advanced measures such as two-factor authentication and cold storage solutions enhancing account protection. The platform also features a copy trading tool, which we found relatively basic but still pretty efficient.

Visit BloFin

4. KCEX – Best for Spot Trading

KCEX is a no-KYC crypto exchange that excels in spot trading. It offers zero maker and taker fees, allowing you to trade without incurring additional costs. The platform supports over 800 cryptocurrencies, including popular options like Ethereum and Solana and emerging altcoins such as Virtuals and Ethena. This extensive selection helps you diversify your portfolio with some of the best altcoins available.

Additionally, KCEX provides advanced trading features like futures contracts with up to 100x leverage, catering to various trading strategies. KCEX is registered as a Money Services Business (MSB) under FinCEN in the US, which is a rare find among non-KYC exchanges and ensures compliance with regulatory standards.

While we weren’t particularly thrilled with its lack of fiat support, KCEX’s focus on crypto-to-crypto trading and user-friendly interface make it a solid choice for traders seeking a no-KYC exchange.

Visit KCEX

5. BingX – Best for Copy Trading

BingX is a no-KYC crypto exchange renowned for its robust copy trading features. You can automatically replicate the trades of experienced professionals, allowing you to benefit from their strategies without extensive market knowledge. This functionality positions BingX among the best crypto copy trading platforms available.

The platform supports over 1,000 cryptocurrencies, including Bitcoin, Ethereum, Solana, Ripple, Tron, and many more. We also found its fees competitive, with spot trading fees as low as 0.1% and futures ones starting at 0.02% for makers and 0.05% for takers.

BingX enhances account protection with advanced measures such as 2FA and cold storage for user funds. The platform also features a demo trading account, letting you practice trading strategies and test various features without risking your real money.

Visit BingX

6. Changelly – Best for Integration With Wallets and Services

Founded in 2015, Changelly is a global no KYC crypto platform that impressed us with its seamless integration with various wallets and services like MoonPay and Simplex. Particularly, its compatibility with some of the best crypto wallets, such as Ledger, and Trezor, sets it apart from most other exchanges we tested for this guide.

Beyond wallet integration, Changelly offers access to over 1,000 cryptocurrencies. The platform provides both fixed and floating rate options, allowing you to choose the most suitable exchange rate for your needs. Additionally, Changelly’s user-friendly interface simplifies the process of investing in crypto.

Changelly operates as a non-custodial exchange, meaning it doesn’t hold your funds during transactions. This approach reduces the risk of hacks and unauthorized access to your crypto assets. Moreover, Changelly’s transparent fee structure ensures you’re aware of any costs upfront, avoiding hidden charges.

Visit Changelly

7. ChangeNOW – Best for Crypto Whales and High-Net-Worth Individuals

Launched in 2017, ChangeNOW is a no-KYC crypto exchange ideal for high-net-worth individuals and crypto whales. It offers unlimited transaction amounts without registration, allowing you to execute large trades seamlessly. This feature makes ChangeNOW particularly attractive for substantial crypto transactions.

The platform supports over 900 cryptocurrencies, providing a wide range of trading options. Its non-custodial nature ensures you retain full control over your assets during exchanges, enhancing security. Moreover, we appreciated ChangeNOW’s fixed and floating exchange rates, allowing you to choose the most favorable option for your trades.

ChangeNOW’s user-friendly interface simplifies the trading process, even for complex transactions. The platform also boasts fast processing times, with most swaps completing within minutes.

Visit ChangeNOW

8. Switchere – Best for Compliance With EU Regulations

Switchere is a cryptocurrency exchange that emphasizes strict adherence to EU crypto regulations. As an EU-based platform, it complies with the 5th Anti-Money Laundering Directive (AMLD5), ensuring secure and transparent transactions.

The platform offers a user-friendly interface, allowing you to buy, sell, and swap various cryptocurrencies with ease. Switchere supports multiple payment methods, including credit/debit cards and Google Pay, facilitating quick and convenient transactions.

Switchere’s commitment to regulatory compliance and user security makes it a reliable choice for EU-based crypto traders in 2025. Its transparent fee structure ensures you know the costs upfront, avoiding hidden charges. Additionally, the platform provides 24/7 customer support to assist with any inquiries.

Visit Switchere

9. CoinEx – Most User-Centric Customer Support and Interface

CoinEx is a no-KYC cryptocurrency exchange renowned for its user-centric customer support and intuitive interface. It offers 24/7 assistance through email, a ticketing system, and a chatbot, ensuring prompt responses to your inquiries. Reaching a representative took only a few minutes during our tests, and we got satisfying answers to all our questions. Additionally, the platform’s design prioritizes ease of use, making navigation straightforward even for newcomers.

Supporting over 1,200 cryptocurrencies, CoinEx provides a diverse range of trading options. It offers spot, futures, and margin trading, catering to various investment strategies. The platform’s fee structure is competitive, with both maker and taker fees set at 0.2%, which can be reduced by holding the native CET token.

As one of the best crypto margin trading exchanges, CoinEx prioritizes security, employing multiple layers of protection. The exchange also maintains a transparent proof-of-reserves system, ensuring that user assets are fully backed. These features make CoinEx a reliable choice for trading cryptocurrencies without KYC verification.

Visit CoinEx

What Is a No KYC Crypto Exchange?

No KYC crypto exchanges are platforms that don’t require you to complete “Know Your Customer” (KYC) verification. KYC is a process to verify identity, usually involving ID documents and personal details. These exchanges prioritize privacy, letting you trade without revealing personal information.

They often rely on decentralized technology or offer limited account features to stay compliant. For instance, DEXs like Best DEX and Changelly bypass KYC because they don’t hold funds directly or manage fiat transactions.

Always consider the trade-offs when using no KYC exchanges:

• You get enhanced privacy but without some protections provided by KYC-compliant exchanges like Binance or Coinbase.
• You gain faster access to trading but may face withdrawal limits or higher fees on some platforms.

Benefits of Using a No KYC Crypto Exchange

Using a KYC-free crypto exchange offers several potential benefits, including privacy, accessibility, and speed. In the following section, we’ll be looking at the main advantages in greater detail.

You Can Trade Cryptocurrencies Anonymously

Most people use no KYC crypto exchanges for an anonymous trading experience. This means that there are no requirements to provide personal information when getting started. In contrast, traditional crypto exchanges collect a range of data from their users.

This includes the trader’s name, nationality, home address, date of birth, and contact details. While most traders don’t mind providing this information to crypto exchanges, some do. What’s more, the KYC process often doesn’t stop with personal information.

In most cases, you’ll also be required to upload verification documents. This includes a proof-of-identity document, such as a passport or driver’s license. And to verify the trader’s home address, a recently issued bank statement or utility bill is also needed.

These processes aren’t required when using a KYC-free exchange. Instead, users can buy and sell cryptocurrencies without any identification or document requests. However, you may need to provide an email or phone number for security.

There’s No Account Registration Required

The best no KYC crypto exchanges allow you to trade without opening an account. For example, Margex simply requires users to deposit crypto from their private wallet to its exchange. Once the wallet is connected, you can begin buying and selling cryptocurrencies.

Here’s an example of how it works:

• The user visits the Margex website and opens an account
• Their private wallet is currently storing 1 ETH, and they transfer this to their Margex account
• The user wants to swap Ethereum for Tether – so they search for the ETH/USDT market on Margex
• After confirming the swap, the Margex smart contract deducts 1 ETH from the user’s wallet
• In turn, an equivalent amount of USDT is deposited back into the user’s wallet

You Can Trade Crypto in a Country With Strict Regulations

Traditional crypto exchanges will often prohibit users from certain countries. These are often countries with strict regulations on cryptocurrencies. For example, China banned all crypto-related transactions in 2021.

This means that Chinese traders will often use a no KYC crypto exchange. After all, no identification crypto exchanges don’t ask for the user’s country of residence. This ensures that cryptocurrencies are accessible on a global basis and not hindered by draconian regulations.

You Will Avoid Exchange Risks Related to Hacks and Bankruptcy

We mentioned that the top crypto exchanges without ID requirements are decentralized platforms. This in itself is a major benefit, especially when it comes to platform-related risks.

• For example, consider that in 2021, the FTX exchange filed for bankruptcy. At the time, not only was FTX one of the largest exchanges, but it was also one of the most trusted.
• The FTX bankruptcy has resulted in billions of dollars worth of unrecoverable customer funds.
• In other words, if you had crypto tokens stored on FTX, you likely won’t see them again.

There have been many other examples of crypto exchanges going bankrupt, being hacked, or engaging in malpractices.

By using a no-KYC crypto exchange that has a decentralized framework, you can avoid these risks. The entire ecosystem functions through smart contracts.

This means that crypto trades go through the blockchain. So, as soon as your trade is confirmed, the tokens are deposited directly into your connected wallet.

You Can Keep Your Personal Data Private and Secure

Another benefit of no KYC crypto exchanges is that you don’t need to risk data privacy leaks. For example, in late 2020, it was reported that BTC Markets — one of Australia’s largest exchanges — ‘accidentally’ leaked the full names and email addresses of all registered users. The exchange had over 270,000 registers at the time.

A more serious breach could have leaked additional personal data, such as home addresses, dates of birth, and KYC documentation. No KYC exchanges do not collect personal data or verification documents, so data leaks are not a risk.

Drawbacks of No KYC Crypto Exchanges

Using no KYC crypto exchanges has drawbacks compared to regular exchanges, primarily in security, regulatory compliance, and fiat options. These platforms often lack the legal protections KYC-compliant exchanges offer.

Without verified identities, no KYC exchanges have limited recourse against fraud or hacking incidents. For instance, if assets are stolen, there’s usually no recovery or insurance, unlike on KYC exchanges like Coinbase, which protect verified users with regulated safeguards.

Liquidity can be lower on no KYC exchanges, leading to higher price volatility. This is especially true on smaller DEXs where liquidity pools may not meet the demands of high-volume trades. You may face slippage, where your trade executes at a different price than expected. To mitigate this, trade during high-liquidity periods or set slippage tolerances.

Fiat options are limited or absent on no KYC platforms. Most of these exchanges only support crypto-to-crypto trading, so you’ll need an intermediary platform like a regular exchange or P2P network to convert fiat. Use a privacy-centric option, like a P2P platform that respects user confidentiality, to bridge this gap without compromising anonymity.

No KYC exchanges also face potential regulatory crackdowns. Governments may restrict access or block funds associated with these platforms. To mitigate this, use VPNs for geo-restricted crypto exchanges and keep your assets in private wallets rather than on the exchange.

To navigate these drawbacks, balance security and privacy by choosing reputable no KYC exchanges with good liquidity, and always store funds in non-custodial wallets. This reduces exposure while allowing you to trade privately and securely.

Are NO KYC Crypto Exchanges Legal?

No KYC crypto exchanges operate in a legal gray area, largely depending on your jurisdiction’s regulations. Many countries require crypto exchanges to comply with anti-money laundering (AML) laws, which typically include KYC protocols to verify user identities.

These exchanges often position themselves as decentralized platforms or non-custodial services to avoid direct regulatory oversight. DEXs use smart contracts and don’t hold user funds, making them technically challenging to regulate. However, regulators can still target front-end providers, website hosts, or developers associated with these platforms.

While using no KYC exchanges isn’t explicitly illegal in most countries, you may encounter restrictions. For instance, certain jurisdictions require users to report all crypto transactions for tax and compliance reasons, regardless of whether KYC was performed. Using a no KYC exchange could complicate tax reporting and might raise compliance issues if audited.

In some countries, governments have moved to block access to no KYC exchanges entirely. China and India, for example, restrict cryptocurrency trading heavily and block known exchange websites. Users may use VPNs to buy Bitcoin and access these exchanges, though this method could still violate local laws.

If you plan to use no KYC exchanges, understand your country’s specific regulations on crypto trading and reporting requirements. In stricter jurisdictions, consider decentralized exchanges with robust privacy but also ensure you fulfill legal obligations like crypto tax reporting.

For added compliance and flexibility, some users trade anonymously on DEXs but later convert funds through regulated exchanges for transparent fiat transactions.

Conclusion

This guide has ranked the best no KYC crypto exchanges for safety, supported markets, fees, and other key metrics. Overall, our number one pick is Best Wallet.

This is a non-custodial crypto wallet that also offers a decentralized exchange. When signing up, you simply need to enter a valid email address to register your accounts. With Best Wallet, you can access completely anonymous trading opportunities on over 1,000 crypto tokens across 60+ chains.

Visit Best Wallet

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