11 Best Anonymous Crypto Wallets with No KYC 2024
Storing cryptocurrencies privately and securely requires a non-custodial wallet that offers anonymity. This means you won’t be required to trust a custodian, let alone provide any personal information.
In this guide, we rank and review the top 11 anonymous crypto wallets for 2024. Read on to discover the leading anonymous wallets for security, convenience, features, and fees.
Best No KYC Crypto Wallets Shortlisted
Listed below are the 11 leading anonymous crypto wallets for 2024:
- Ellipal Wallet – Ellipal features air-gapped security in a strong aluminum alloy body. Available in Titan and Titan Mini versions, supports over 10,000 digital assets and offers a self-destruct mechanism for improved security.
- Zengo: Zengo is a versatile self-custody mobile wallet for iOS/Android, supporting 120+ cryptocurrencies, NFTs, dApp interaction, WalletConnect, 24/7 support, and a 4.2 Trustpilot rating.
- Ledger – High-security hardware wallet supporting over 5,000 cryptos, including NFTs. Features air-gapped, cold storage, and improved privacy with multi-layer encryption and offline functionality.
- Best Wallet: Best Wallet is a non-custodial mobile app that supports numerous cryptos and offers high security, including 2FA and biometrics, along with staking and token swap features.
- Trezor – User-friendly hardware wallet with seamless DeFi integration. Supports nearly 1,000 cryptos, features touchscreen, secure firmware updates, and Shamir Backup for improved security.
- Blockstream Jade – Affordable, compact hardware wallet for Bitcoin and Liquid Network assets. It offers air-gapped transactions, QR-code scanning, and better privacy with Multisig Shield technology.
- NGRAVE – High-security, air-gapped wallet with EAL7 certification, supporting over 1000 digital assets. Features a large touchscreen, fingerprint scanner, and unique ‘Perfect Key’ generation process.
- SecuX – V20 and Shield BIO models provide high security and ease of use. Feature a 2.8-inch touchscreen, Infineon SLE Solid Flash CC EAL5+ Secure Element chip, and support for over 1,000 cryptos.
- BitBox02 – Swiss-made wallet balancing affordability with advanced features. It features an OLED screen, touch sliders, a USB-C connector, an open-source software and supports major cryptos and ERC-20 tokens.
- COLDCARD – Bitcoin-only wallet with high security, air-gapped capabilities, dual Secure Element chip, numeric keypad, and OLED screen. Supports transparent, open-source firmware and various security features.
- SafePal – Cost-effective wallet with EAL5+ secure element chip, supporting over 10,000 digital assets, including NFTs. Offers air-gapped transaction signing and integration with the SafePal app for asset management.
Top Anonymous Bitcoin Wallets: Full Reviews
We’ll now review the no identification crypto wallets listed above. We cover everything you need to know about each wallet, such as security, privacy features, supported networks, and pricing.
1. Ellipal Wallet – Promising Crypto Wallet With Air-Gapped Security
The Ellipal Wallet is an anonymous crypto wallet with an air-gapped mechanism, which keeps it fully offline and offers improved protection against online attacks. This feature is critical for protecting digital assets against cyber risks. Also, the wallet’s solid aluminum alloy structure protects it from physical harm, such as dust, water, and tampering.
This wallet is available in two versions: the Titan and the Titan Mini. The Titan features a user-friendly 4-inch touchscreen, similar to a compact smartphone, while the Titan Mini, with a 2.4-inch HD LCD screen, is more portable, making it suitable for users who need mobility.
Both models are compatible with over 10,000 digital assets across roughly 50 blockchains, catering to many users. They have a built-in camera for reading QR codes, which simplifies the process of safe transaction verification.
These wallets integrate with the Ellipal mobile app, which is available for Android and iOS smartphones. This app enables quick transactions and integration with crypto exchanges, NFT trading, and Web 3 interfaces. The wallets provide two-factor verification, as well as a variety of password and PIN options, to improve security.
They also include a unique self-destruct mechanism that resets the wallet in the event of manipulation, effectively protecting user data. Additionally, firmware updates are performed offline using a microSD card to ensure the wallet’s secure integrity.
| Supported Networks | Over 10,000 assets, 50 blockchains |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (Air-gapped) |
| Top Features | Air-gapped security, User-friendly touchscreen, Self-destruct mechanism |
Pros
- Air-gapped for better online protection.
- Durable aluminum alloy structure.
- Supports 10,000+ digital assets.
Cons
- Lacks direct internet connectivity.
2. Zengo – Self-Custody Mobile Wallet for Bitcoin and Other Cryptocurrencies
Zengo is a feature-rich mobile wallet that has achieved a rating of 4.78/5 on both the Google Play and Apple App Store, along with a rating of 4.2 stars on Trustpilot with reviews from over 600 customers. Zengo prides itself on security and undergoes annual software audits from different companies. Furthermore, Zengo boasts a security record of over 1 million customers served and no reported hacks.
The features of Zengo’s self-custody mobile app wallet are numerous and include:
- Buy, sell, and trade 120+ cryptocurrencies in-app
- Buy, sell, and trade NFTs in-app
- NFT gallery
- dApp marketplace (featuring WalletConnect)
- No seed phrases (instead utilizing 3-factor authentication for account recovery)
- 24/7 customer support
All of these features are available in the free version of Zengo wallet, while those looking for extra protection for their assets can subscribe to a Pro Version of the app, which features:
- Theft Protection: 2-factor authentication for large transactions
- Legacy Transfer:Send assets to a predetermined address after a user-defined period of inactivity
- Web3 Firewall:Receive alerts about, and protection from, Web3 attacks
- Priority Support:Guaranteed responses in under 1 hour (typically within 5 minutes)
| Supported Networks | Multiple networks including Bitcoin, Ethereum, Dogecoin, Chainlink, and some Ethereum layer 2s |
| Fee to Buy Crypto | 0%-4.5% |
| Devices | iOS/Android app |
| Top Features | Asset self-custody for over 120+cryptocurrencies, NFT gallery, dApp marketplace, 24/7 customer support, WalletConnect support |
Pros
- Support for 120+ cryptocurrencies
- Buy, sell, and trade cryptos and NFTs in-app
- dApp marketplace with WalletConnect
- NFT viewing gallery
- 24/7 customer support
- Pro version with extra security features
Cons
- Not all Ethereum layer 2s are supported
- Crypto prices are marked up compared to market prices
3. Ledger – Popular Anonymous Wallet Supporting Over 5000+ Cryptos Offering NFT Support
The Ledger Nano X is Ledger’s flagship wallet and is a prominent anonymous hardware wallet supporting over 5,000 cryptos, including support for NFTs.
Designed for high privacy and security, it safeguards users’ identities and ensures the safety of their crypto holdings. This wallet operates independently when not connected to a power source, as it is not linked to the internet, improving its security.
It offers connectivity via a USB-C port, allowing for secure transactions. Access to the Nano X requires a PIN code and uses a secure element chip. Users have the option to add passwords and additional encryption layers for extra protection against unauthorized access.
Since Ledger Nano X is a cold storage wallet, it’s not connected to smartphones that have a SIM card, which could potentially link to an individual’s identity. This aspect, combined with its capacity to store up to 100 different assets on a single device, makes it a secure choice for crypto users.
Also, the wallet doesn’t require an installation and lets users frequently change their IP address and device for transactions, ensuring anonymity.
Users can link their smartphone app to the wallet via Bluetooth, allowing them to safely check their balances on the Ledger X, thereby reducing the risk of digital attacks.
| Supported Networks | 5000+ |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (USB-C, Bluetooth) |
| Top Features | High security, Multi-layer encryption, Offline functionality |
Pros
- High security with offline functionality.
- Supports 5000+ cryptos, including NFTs.
- Multiple encryption layers for safety.
- Allows Bluetooth smartphone connectivity.
Cons
- Price slightly high at $150 per device
4. Best Wallet – Anonymous Crypto Wallet With an In-Built Decentralized Exchange
Best Wallet offers an anonymous wallet experience in a safe and secure environment. Best Wallet comes as a mobile app for iOS and Android, it is suitable for beginners and experienced investors alike. Crucially, Best Wallet is a self-custody wallet, meaning you’re the only person to have access to your private keys.
Not even Best Wallet can view your credentials, so you’ll be able to store cryptocurrencies in complete privacy. What’s more, Best Wallet comes packed with security features. When first setting the wallet up, you’ll be asked to choose a PIN. Fingerprint ID is also supported, alongside two-factor authentication.
As an additional security measure, Best Wallet will collect your email address. This is in case you lose your mobile device and need to regain access to the wallet. You can also choose a unique alias. This allows you to receive cryptocurrencies, so there’s no requirement to enter complex wallet addresses.
In terms of supported cryptocurrencies, Best Wallet is compatible with Ethereum and Binance Smart Chain. Any tokens on these networks can be stored. Bitcoin and other popular cryptocurrencies will be added in the near future. This is because Best Wallet is a new wallet provider, so some features are still being worked on.
In addition, Best Wallet doubles up as a decentralized exchange. This means that you can swap tokens without leaving the wallet app. For example, suppose you’re currently storing ETH. If you want to buy USDT, you can instantly swap it for ETH without paying any commissions. That said, you’ll need to pay a small fee to the liquidity provider.
Many other features will be launched in the coming months. For example, Best Wallet will integrate a staking tool. This allows you to earn passive income on cryptocurrencies stored in your wallet. Best Wallet will also support NFTs and a launchpad for new cryptocurrencies. We also found that Best Wallet will integrate TradingView into its wallet app.
This allows you to research the top trending cryptocurrencies through charts and technical indicators. Best Wallet will also be launching its own cryptocurrency called BEST. This will offer perks to Best Wallet users, such as airdrops and voting rights. There could also be an upside on BEST tokens, as they’ll soon be listed on crypto exchanges.
| Supported Networks | Ethereum and Binance Smart Chain. Bitcoin and other networks will be added soon |
| Fee to Buy Crypto | Swap fees are determined by the liquidity provider. Best Wallet does not add a markup |
| Devices | iOS/Android app |
| Top Features | Anonymous Bitcoin wallet with self-custody storage, Swap and stake tokens within the wallet app, Solid security features – including two-factor authentication |
Pros
- Self-custody wallet app offering complete privacy and anonymity
- Security tools including a PIN, fingerprint ID, and two-factor authentication
- No additional fees to swap tokens within the app
- Currently supports all tokens on Ethereum and Binance Smart Chain
- User-friendly experience that’s suitable for beginners and experienced investors
Cons
- Bitcoin and other popular networks are not yet available
- Supports fiat money purchases – but this triggers a KYC process
5. Trezor – User-Friendly Anonymous Crypto Wallet With DeFi Integration
Trezor is a popular anonymous crypto wallet with two variants: the Model T’ and the Model ‘One’. The Model ‘One’ is the more budget-friendly, priced at $69. It features secure offline storage, requiring a PIN input directly on the device for transactions. On the other hand, the Model T is priced on the higher side at $219.
A key upgrade in the Model T is the device’s touchscreen. Interoperability with DeFi apps is a key feature of the Model T, allowing users to manage their DeFi investments directly.
These wallets are compatible with nearly 1,000 cryptos. It supports major cryptos like Bitcoin, Litecoin, Ethereum, and various lesser-known tokens.
The Trezor Model T offers multiple protective layers, including secure firmware updates, custom PIN, and the Shamir Backup system. This backup system divides the recovery phrase into multiple parts, improving security against potential loss or theft.
Despite the significant price gap, the differences between the two models are minimal. For example, both models have a security feature that introduces a time delay after each incorrect PIN entry.
However, the Trezor Model T is priced higher than many other hardware wallets in the market. Its design mainly focuses on desktop use, lacking Bluetooth functionality and offering limited compatibility with mobile devices, which might restrict its utility for certain users.
| Supported Networks | Nearly 1,000 cryptos |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (USB) |
| Top Features | User-friendly, DeFi integration, Shamir Backup system |
Pros
- User-friendly with DeFi integration.
- Supports nearly 1,000 cryptos.
- Features touchscreen and secure updates.
- Shamir Backup for added security.
Cons
- Higher price, limited mobile compatibility
6. Blockstream Jade – A Compact, Secure, and Budget-Friendly Crypto Wallet
The Blockstream Jade wallet is an anonymous hardware wallet supporting Bitcoin and Liquid Network asset users. At a competitive price of $64.99, it appeals to those looking for affordability without sacrificing security.
This wallet features a compact design with a 1.14-inch full-color screen and a matte black finish, improving user experience through simple navigation and secure address verification.
It pairs with the Blockstream Green app, offering an easy-to-use interface for asset management and increased privacy through Tor integration.
The wallet has offline key storage and a hardware-based secure element. Its key feature is the ability to perform air-gapped transactions using an integrated QR-code scanning camera, allowing secure transaction signing without internet connectivity. This is further supported by Multisig Shield technology for more security.
The wallet’s capacity to create multiple wallets, including decoy wallets, shows an innovative security strategy. Additionally, these features significantly improve defense against unauthorized access with a self-destruct mechanism that activates after three incorrect PIN entries.
However, its primary focus on Bitcoin and Liquid Network assets might reduce its appeal to users transacting in diverse cryptos.
| Supported Networks | Bitcoin, Liquid Network assets |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (Air-gapped, QR-code) |
| Top Features | Affordable, Compact design, Multisig Shield technology |
Pros
- Affordable, compact design.
- Bitcoin and Liquid Network focus.
- Air-gapped with QR-code scanning.
- High privacy with Multisig Shield.
Cons
- Limited to specific crypto assets.
7. NGRAVE – A High-Security, Air-Gapped Wallet with Extensive Crypto Support
The NGRAVE wallet is a popular anonymous crypto wallet, especially for users prioritizing security. It has an EAL7 security certification, ensuring high protection against hacks.
With support for over 1000 digital assets, including major cryptos like Bitcoin and Ethereum, as well as a variety of ERC-20 tokens and NFTs, it caters to a broad range of users.
This Belgium-based wallet’s key feature is its air-gapped function, meaning it never needs to physically connect to a computer or network, significantly reducing online vulnerabilities. Its design reflects a high-end smartphone with a 4-inch color LCD touchscreen, improving the overall user experience in managing crypto assets.
It also has a built-in camera and fingerprint scanner, offering multiple layers of defense. Notably, the NGRAVE wallet has a unique Perfect Key generation process, which provides a more secure alternative to traditional seed phrases.
NGRAVE also offers the NGRAVE GRAPHENE, a durable stainless steel backup solution for key recovery, ensuring the longevity and safety of recovery keys.
Priced around $398, the NGRAVE wallet is priced on the higher side. While it may be a considerable investment, its advanced security features make it a compelling option for those prioritizing safety.
However, it’s important to note that the wallet doesn’t support staking or DeFi applications and lacks connectivity features like Bluetooth and NFC, which might be a downside for some. Also, it doesn’t support certain significant blockchains like Cardano, Cosmos, and Polkadot.
| Supported Networks | Over 1,000 assets, NFTs |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (Air-gapped) |
| Top Features | High security (EAL7), Large touchscreen, Perfect Key generation |
Pros
- High-security EAL7 certified.
- Supports 1000+ assets, including NFTs.
- Air-gapped with 4-inch touchscreen.
- Unique ‘Perfect Key’ generation process.
Cons
- No staking/DeFi, limited blockchain support.
8. SecuX – Offers A Blend of High Security and User-Friendly Features for Crypto Management
SecuX offers two major hardware wallets, the V20 and Shield BIO, known for their security, easy-to-use interface, and broad crypto support. The V20, with its unique 2.8-inch color touchscreen and polished aluminum chassis, provides a high-quality and long-lasting alternative to traditional plastic wallets.
The V20’s security is built around the Infineon SLE Solid Flash CC EAL5+ Secure Element chip, which provides military-grade protection. This is especially crucial for individuals who own major crypto assets, as it securely saves PINs and private keys.
The V20 supports over 1,000 cryptos, including Bitcoin, Ethereum, and Litecoin, and connects via Bluetooth 5 and USB Type-C. It also includes a “Hidden Wallet” to increase privacy and security.
The Shield BIO adds biometric recognition technology to the V20, costing $149. It features an EAL5+ certified military-grade chip for maximum security. It is designed for ease of use, particularly on mobile devices, and connects to the SecuX mobile app or website for a comprehensive trading experience. Its biometric feature offers additional protection, appealing to individuals who value biometric security while remaining affordable.
The V20 and Shield BIO are impressive in the SecuX lineup, giving users a safe and efficient way to manage their digital assets.
| Supported Networks | Over 1,000 cryptos |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (Bluetooth, USB) |
| Top Features | High security (EAL5+), Touchscreen, Biometric recognition (Shield BIO) |
Pros
- V20 and Shield BIO models.
- 2.8-inch touchscreen, easy to use.
- EAL5+ Secure Element chip.
- Supports over 1,000 cryptos.
Cons
- Slightly higher price.
9. BitBox02 – Anonymous Crypto Wallet With An OLED Display And High Security
The BitBox02 is a promising anonymous hardware wallet that combines security and a user-friendly interface with a contemporary design. Priced at approximately $120, it offers affordable and advanced features, appealing to a wide range of users.
With a futuristic OLED screen and touch sliders for navigation, the BitBox02’s design replaces traditional buttons, providing a sleek and modern user experience.
It includes a built-in USB-C connector, allowing direct connections to various devices, which is particularly useful for those who need to manage their crypto assets on the go.
Security is a key focus of the BitBox02, with a secure ATECC608A chip for cryptographic operations. Its open-source nature encourages community involvement in improvements and independent security checks.
The wallet has also been externally audited for security and maintains a bug bounty program to ensure high-security standards.
The BitBox02 supports major cryptos, including Bitcoin, Ethereum, Litecoin, and over 1500 ERC-20 tokens, catering to diverse users. Its setup is simplified through the BitBoxApp, which is compatible with various operating systems. The wallet also has innovative backup options like microSD card storage, providing an alternative to conventional seed phrases.
Additionally, the BitBox02 includes features such as multi-signature wallets, Tor support, and unified Bitcoin accounts.
| Supported Networks | Bitcoin, Ethereum, Litecoin, 1500+ ERC-20 tokens |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (USB-C) |
| Top Features | OLED screen, Open-source, Backup on microSD |
Pros
- Affordable with advanced features.
- OLED screen, touch slider navigation.
- USB-C connector, easy setup.
- Supports major cryptos and ERC-20 tokens.
Cons
- No native support for iOS.
10. COLDCARD Wallet: A Bitcoin-Only Cold Storage Solution with High-Security Features
The COLDCARD Mk4 is a premium hardware wallet priced at $157.94, focusing solely on Bitcoin. It’s designed for users who value high security in their Bitcoin transactions. It is optimized only for Bitcoin, avoiding the complications and vulnerabilities commonly associated with wallets accepting various currencies.
The COLDCARD Mk4’s air-gap capabilities allow it to operate totally offline, significantly reducing the risk of internet threats.
It has a dual Secure Element chip architecture, which further safeguards private keys. The wallet’s design incorporates a full-sized numeric keypad and a huge, customizable OLED screen, making it easier for new and experienced crypto users.
The COLDCARD Mk4 prioritizes security, with features such as the “Duress Pin” that allows access to a decoy wallet and the “Brick Me Pin” that disables the device in the event of a threat. Also, its open-source firmware promotes transparency and public verification.
Furthermore, the Mk4 wallet enables air-gapped setups with wallets like Sparrow, guaranteeing that seed phrases are never accessible to online networks during the first setup.
| Supported Networks | Bitcoin |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (Air-gapped) |
| Top Features | Bitcoin-only support, High security, Open-source firmware |
Pros
- Bitcoin-only, high-security focus.
- Air-gapped, dual Secure Element chip.
Numeric keypad, customizable OLED screen. - Transparent, open-source firmware.
Cons
- Limited to Bitcoin, less versatile.
11. SafePal S1 Wallet: A Cost-Effective, Anonymous Crypto Wallet With NFT Management
The SafePal S1 is a popular anonymous crypto wallet costing around $50. It’s great for those looking for a low-cost yet secure solution for managing cryptos and NFTs.
The EAL5+ secure element chip is a major feature of the SafePal S1, providing high digital asset protection. It also has a self-destruct mechanism and two-factor authentication, additional security features that protect against unauthorized access and potential hacking.
The SafePal S1 has an air-gapped transaction signing technology, which functions fully offline and significantly reduces the danger of cyber assaults. This is a significant benefit in today’s digital environment, when internet security is crucial.
The wallet supports over 10,000 digital assets, including popular cryptos such as Bitcoin, Ethereum, and Tether, as well as a variety of NFTs. This widespread interoperability appeals to many users, from experienced users to newcomers.
It works with the SafePal app for convenient asset management and has a built-in decentralized exchange for direct Binance Spot trading.
Despite its limited battery life and exclusive compatibility with the SafePal app, which may not be ideal for users who want to integrate with multiple wallets or exchanges, the SafePal S1’s affordability, security, and user-friendliness make it an appealing option for securely managing digital assets.
| Supported Networks | Over 10,000 digital assets, NFTs |
| Fee to Buy Crypto | Depends on the third-party provider. |
| Devices | Hardware (Air-gapped) |
| Top Features | Cost-effective, EAL5+ secure chip, Integration with SafePal app |
Pros
- Cost-effective with EAL5+ chip.
- Supports 10,000+ assets and NFTs.
- Air-gapped transaction signing.
Cons
- Limited battery, SafePal app dependency.
How Do Non KYC Wallets Work?
To under how anonymous crypto wallets work, we’ll need to take a step back and discuss ‘custodianship’. Put simply, there are two types of crypto wallet services available – custodial and non-custodial (also called self-custody).
Let’s explore how each wallet type works.
Custodial wallets are offered by centralized providers. In most cases, this is a crypto exchange, such as Binance. The custodian is responsible for keeping your cryptocurrencies safe. However, there are some drawbacks.
For a start, custodian wallets rarely allow you to store cryptocurrencies anonymously. On the contrary, you’ll likely need to go through a KYC process. This means your account and wallet must be verified via government-issued ID. What’s more, custodial wallets do not give you access to your private keys.
This means that you never truly own your cryptocurrencies. There is a saying in the blockchain space – not your keys, not your coins.
In contrast, non-custodial wallets offer an anonymous and private experience. You won’t be required to enter any personal information and certainly won’t be asked for KYC documents. Instead, you can store, send, and receive cryptocurrencies anonymously. Most importantly, non-custodial wallets give you full control of your private keys.
However, anonymous wallets also come with drawbacks. For example, suppose you have a mobile wallet and you forget your PIN. If you’ve also misplaced your private keys, you won’t be able to access the wallet. As you’re using a self-custody wallet, the provider cannot help you regain access. Therefore, you’re 100% responsible for safeguarding your wallet.
Furthermore, although some anonymous Bitcoin wallets support fiat money services, this requires a KYC process. This won’t be implemented by the wallet provider but by the third-party payment processor. Nonetheless, once you hand over your personal information and identity documents, you’ve lost your anonymity.
When choosing an anonymous wallet, you’ll also need to select your preferred device type. For example, some wallets come as mobile apps for iOS and Android. Others come as desktop software for Windows and Mac. Anonymous wallets are also available as browser extensions for Chrome and Firefox.
Irrespective of your chosen device type, anonymous wallets allow you to send, receive, and store cryptocurrencies. The wallet will give you a unique blockchain address, which you’ll need when receiving tokens. As anonymous wallets are decentralized, transactions can never be blocked. Nor can your wallet balance be frozen.
Advantages of Crypto Wallets Without ID Verification
In this section, we’ll take a much closer look at the advantages of using a no KYC crypto wallet.
Full Control of Your Cryptocurrencies
We’ve established that anonymous crypto wallets offer a self-custody service. This means that only one person has access to the wallet’s private keys – you. Without knowing the private keys, the wallet cannot be accessed. This means that you have full control of your cryptocurrencies.
After all, not even the wallet provider can access your funds. What’s more, you avoid the risk of having transactions blocked or delayed. This isn’t the case when using a custodial wallet, as you need to wait for the provider to approve transactions. This goes against the ethos of cryptocurrencies and blockchain technology.
However, it’s important that you keep your private keys safe. Should they fall into the wrong hands your wallet will be compromised and your cryptocurrencies stolen. Most anonymous wallets provide private keys as a 12-word passphrase. This makes it easier to write down and type in, should you need to regain access to your wallet.
Ultimately, crypto wallets with no KYC allow you to store and build wealth away from the traditional financial system. You don’t need to trust that the provider is keeping your cryptocurrencies safe, as you’re in full control. This has never been more important since the collapse of FTX – which resulted in billions of dollars in customer losses.
The best way to keep private keys safe is by writing them down on a sheet of paper. Keep the paper somewhere safe and private. Avoid writing your private keys down on a device that connects to the internet. If you do, the private keys will be vulnerable to remote hacking attempts.
No KYC Processes – Remain Anonymous
It goes without saying that anonymous Bitcoin wallets do not have a KYC process. You simply need to download your chosen wallet and transfer tokens to your unique address. No personal information will be collected by the provider. Using a VPN offers additional protection, as the wallet provider won’t be able to see your IP address.
When you send or receive cryptocurrencies, transactions won’t be attached to your identity. The blockchain only displays the sender’s and receiver’s wallet address, which is a long string of alphanumeric characters.
You won’t benefit from the same levels of anonymity when using a custodial wallet.
- For example, suppose you register an account with Binance and purchase Bitcoin with a credit card.
- You’d need to provide personal information and KYC documents, such as a government-issued ID.
- You then download the Binance wallet app. Thereon, any wallet transfers that you make can be tracked to your real-world identity.
This is the case even if you transfer the Bitcoin tokens to an anonymous wallet. After all, you’ve already provided your personal data to Binance – so everything can be tracked.
Trade Crypto and Earn Interest Anonymously
If you’re wondering how to buy Bitcoin anonymously with fiat money, your options will be limited. Due to anti-money laundering (AML) laws, fiat money providers must perform KYC procedures. This will be the case even if you’re using an anonymous wallet.
That being said, you will be able to trade cryptocurrencies anonymously and without KYC checks.
For example, Best Wallet comes with an in-built decentralized exchange. This allows you to swap tokens without going through a centralized entity. For instance, suppose you’re currently holding BNB in Best Wallet. However, you no longer want to hold BNB – you’re now interested in Shiba Inu.
All you’d need to do is swap BNB for SHIB – directly in your Best Wallet dashboard. This means you don’t need to transfer funds to an exchange.
What’s more, some wallets allow you to stake cryptocurrencies anonymously. This means you can earn interest on your idle cryptocurrencies – putting your investments to work.
Our Methodology When Rating Anonymous Crypto Wallets
If you’re still not sure which anonymous wallet is right for you, we’ll now discuss our methodology when ranking the top providers.
Wallet Security
Security is very important when choosing an anonymous wallet. After all, you’ll be 100% responsible for keeping your private keys safe. Nobody will be able to help you recover your funds if the wallet is hacked.
Security features will vary depending on the device type and the provider. For example, the Best Wallet app initially asks users to create a PIN. Fingerprint ID is also supported for additional protection.
That’s not all, Best Wallet also offers multi-factor authentication via your mobile device and email. This means that a hacker would not only need your fingerprint ID, but also access to your email account and mobile phone.
Another security feature to look for is multisig permissions. This requires confirmation from multiple devices when sending cryptocurrencies from the wallet.
Supported Networks and Custom Tokens
You’ll need to explore what cryptocurrencies are supported by the anonymous wallet. For example, if you’re holding Ethereum but the wallet only supports Bitcoin, you’ll need to choose another option. If you’re going to build a diversified portfolio, it’s best to use a multi-asset wallet.
These are wallets that support multiple blockchain networks, such as Binance Smart Chain, Ethereum, and Solana. The best crypto wallets also support custom tokens. This allows you to manually add a cryptocurrency to the wallet if it isn’t supported by default. Any tokens can be added, as long as the network is compatible.
Wallet Fees
Most crypto wallets without ID verification are free to use. This means you can store and receive cryptocurrencies without paying fees. However, you will need to pay fees when transferring cryptocurrencies to another wallet.
This fee isn’t charged by wallet providers – but the blockchain network. As such, the wallet merely passes these fees on. That being said, some crypto wallets without KYC add a markup to the blockchain fees, meaning that you’re paying more than you should be. These wallet providers should be avoided.
Additional Wallet Features
The primary functions of anonymous wallets are to send, receive, and store cryptocurrencies away from centralized entities. However, some wallet providers offer additional features and tools.
For example, if you’re looking to trade cryptocurrencies anonymously, Best Wallet comes with an in-app exchange. This is a decentralized exchange, so you won’t need to provide any personal information. Simply choose which tokens you want to swap and Best Wallet will execute the trade at the best available rate.
Another feature to look for is support for decentralized applications. This enables you to connect your wallet to popular exchanges like PancakeSwap and Uniswap. You can then earn interest by funding liquidity pools or staking. You can also connect to NFT marketplaces like OpenSea, not to mention the best play-to-earn games.
We also like anonymous crypto wallets that offer portfolio management tools. For example, if you’ve got lots of cryptocurrencies in your wallet, you’ll want an overview of how much the portfolio is worth. Not only will you need real-time pricing but all valuations displayed in your preferred currency. This makes it easier to track the value of your investments.
Are Anonymous Bitcoin Wallets Legal?
In most circumstances, anonymous Bitcoin wallets are perfectly legal. However, cryptocurrencies are not legal in some countries, which would also cover wallets. This includes China, Bangladesh, and Algeria. But in the vast majority of the world, there are no restrictions on using anonymous wallets to store your cryptocurrency investments.
That said, some regulatory bodies are now honing in on no ID crypto wallets, putting pressure on centralized exchanges to track transactions.
For example, the European Union is passing legislation that will cover crypto wallets. In a nutshell, centralized wallet providers must log crypto transfers above €1,000 – even if they engage with self-custody wallets. That said, the new rules will have little impact when transfers are made exclusively between self-custody wallets, as they’re completely anonymous.
Similarly, the UK recently introduced new regulations on custodial crypto wallet providers (e.g. exchanges). The ‘Travel Rule’ requires wallet providers to obtain the sender and receiver’s name when facilitating transfers. Once again, these rules will have little impact on anonymous wallets that offer self-custody storage.
Crucially, no ID crypto wallets are merely software that sits between you and the blockchain. The cryptocurrencies aren’t actually stored in the wallet itself. Moreover, self-custody wallet providers do not have access to your private keys. Therefore, they can’t block or freeze transactions, let alone obtain your real-world identity.
Read More: Zengo Crypto Wallet
Conclusion
Not only do anonymous wallets allow you to store cryptocurrencies without revealing your identity, but you’ll be in full control of your private keys. Overall, we rate Ellipal as the leading crypto wallet without ID verification. This crypto wallet supports 100% air-gapped and offline transactions.
Investors can trade more than 10,000 coins with Ellipal.
References
- https://www.finra.org/rules-guidance/key-topics/aml
- https://www.euronews.com/next/2022/08/25/bitcoin-ban-these-are-the-countries-where-crypto-is-restricted-or-illegal2
- https://www.swift.com/your-needs/financial-crime-cyber-security/know-your-customer-kyc/kyc-process
- https://ethereum.org/en/developers/docs/standards/tokens/erc-20/
- https://www.reuters.com/technology/exclusive-behind-ftxs-fall-battling-billionaires-failed-bid-save-crypto-2022-11-10/
- https://www.europarl.europa.eu/news/en/press-room/20230414IPR80133/crypto-assets-green-light-to-new-rules-for-tracing-transfers-in-the-eu
- https://www.cnbc.com/2023/04/20/eu-lawmakers-approve-worlds-first-comprehensive-crypto-regulation.html
- https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1133404/TR_Privacy_edits_Future_financial_services_regulatory_regime_for_cryptoassets_vP.pdf
FAQs
Which crypto wallets don’t need KYC?
There are many reputable and secure crypto wallets that don’t require personal information or KYC documents. Examples include Ellipal, Zengo, Ledger, and Best Wallet.
Does Exodus require KYC?
Exodus is a self-custody wallet that doesn’t require KYC to store, send, or receive cryptocurrencies. However, KYC will be required if you want to buy cryptocurrencies with a debit/credit card.
Can I transfer crypto without KYC?
Yes, if you’re using a self-custody wallet, you can transfer crypto without KYC. However, an increasing number of custodian wallet providers now have verification processes in place.
What is the best anonymous Bitcoin wallet?
We rate Ellipal as the best anonymous Bitcoin wallet. You can store, send, and receive more than 10,000 coins with Ellipal by conducting completely offline transactions.
