10 Best No KYC Crypto Exchanges for 2023
As regulations tighten in the cryptocurrency industry, the number of exchanges allowing users to trade without undergoing Know Your Customer (KYC) verification is declining. However, in 2023, there are still some top options for those seeking an anonymous yet feature-rich trading experience.
This article will compare the key features, fees, pros, and cons of the leading no KYC crypto exchanges:
No KYC crypto exchanges:
| Name | Website | Key Features |
|---|---|---|
| Best Wallet | Best Wallet | – Multi-chain crypto wallet – Built-in DEX for swapping tokens – Upcoming NFT support |
| MEXC | MEXC | – Spot, futures, margin trading – 1000+ cryptocurrencies – Staking options |
| CoinEx | CoinEx | – Spot & futures trading – Margin trading & lending – Lower fees with CET token |
| Phemex | Phemex | – Spot, contract & futures trading – No KYC required – Copy trading features |
It will also highlight some smaller, niche exchanges that specialize in enabling private crypto trading.
Leading anonymous instant cryptocurrency exchanges
| Exchange Name | Website | Key Features |
|---|---|---|
| SideShift.ai | SideShift.ai | – Anonymous cryptocurrency exchange – Recommended for converting coins |
| MorphToken | MorphToken | – Reputable anonymous instant exchange – Unique “convert one coin to many” feature |
| XChange.me | XChange.me | – Promises safe and fast crypto exchanges – Competitive pricing |
| Changelly | Changelly | – Supports 140+ cryptocurrencies – Allows buying crypto with a credit card |
| Godex | Godex.io | – Considered one of the fastest exchanges – Offers a wide range of cryptocurrencies |
| ChangeNOW | ChangeNOW | – Non-custodial service – No account creation required |
Best No KYC Crypto Exchange Reviews
Here is an in-depth assessment of the leading exchanges that allow you to buy, sell and trade cryptocurrency without submitting your personal information.
Best Wallet
- Best Wallet Best Wallet stands out as the top multi-chain cryptocurrency wallet app that has a built-in decentralized exchange allowing swaps without KYC. It supports assets across various blockchains including Ethereum, Polygon, BNB Smart Chain and will integrate Bitcoin in the future.
You can seamlessly store, swap coins and tokens, collect NFTs and read news/analysis about crypto – everything within a single intuitive mobile interface.
Unique features:
- Swap tokens directly in-app across supported blockchains
- Upcoming NFT gallery and marketplace for buying/selling NFTs
- Native utility token – Earn BEST tokens by using the wallet’s services
- Cryptocurrency educational resources forthcoming
Pros:
- True decentralized exchange supporting anonymous swaps
- Multi-chain wallet functionality in one place
- Competitive pricing with low slippage on swaps via Best DEX
- Strong focus on user experience and simplicity
- Expanding suite of features beyond just a wallet
Cons:
- Currently only available as mobile app, desktop version in progress
- Limited coin selection compared to centralized exchanges
- Holders of large cryptocurrency portfolios may prefer cold storage
Fees: Zero percent fees for swaps on Best DEX
MEXC
- MEXC is a highly reputable centralized crypto exchange that offers users over 1,000 coins to trade without mandatory KYC. It has high liquidity across trading pairs, an intuitive interface, and some of the lowest trading fees that don’t require identification verification.
Users can sign up with an email address instantly and start trading. However, buying cryptocurrencies with fiat currency does require going through third party services that will request personal details.
Pros:
- Leading spot exchange with deep liquidity for popular trading pairs
- Competitive fee structure at 0%
- High limits for withdrawals up to 30 BTC before KYC needed
- Smooth user experience and mobile app
- Options for staking various coins
Cons:
- Purchasing crypto with fiat involves KYC via external services
- OTC trading requires identity verification
- Forced liquidations if margin requirements not met
Fees: Zero percent trading fees for makers and takers on MEXC spot exchange. Margin trading has fees starting from 0.02%.
CoinEx
- CoinEx
Based in Hong Kong, CoinEx is a fast-growing exchange catering to an international user base. It offers a straightforward onboarding process with email sign-up instantly available. Users can then deposit crypto to start trading or access other platforms services without submitting documents.
Spot trading pairs are charged at a flat maker/taker fee starting from 0.2%, decreasing based on 30-day trading volume or holding CoinEx’s native CET token.
Pros:
- Smooth user experience across website and apps
- Lower trading fees possible by holding CET tokens
- Margin trading and crypto lending options
- Up to $10,000 daily withdrawals before KYC needed
Cons:
- Smaller selection of coins compared to other major exchanges
- Buying crypto with credit/debit cards requires KYC via partners
- Lower liquidity on some trading pairs
Fees: 0.2% basic maker/taker spot trading fee
Phemex
- Phemex has emerged as a leading crypto derivatives exchange, offering up to 100x leverage across hundreds of perpetual contracts and futures pairs. Its spot exchange also provides a quality trading experience for buying, selling and exchanging crypotcurrencies without mandatory KYC.
Traders can connect a MetaMask wallet to instantly access Phemex’s spot and contract markets after email signup. Going through identity verification can provide additional benefits like a VIP account with reduced fees, but it is not compulsory.
Pros:
- Responsive customer service via 24/7 live chat
- Intuitive trading interface and mobile app
- Variety of advanced trading features even without KYC
- $1500 signup bonus rewards for new users
Cons:
- Number of spot pairs still growing
- Trading fees could be cheaper compared to rivals
- Limitations applying trading bots and algorithms for unverified users
Fees: From 0% maker fees up to a top rate of 0.1% depending on 30-day volume. Taker fees range from 0.045% to 0.1%.
Anonymous Instant Crypto Exchanges In addition to those popular platforms, there is also a range of lesser known instant exchange services providing fast, private coin swaps while maintaining user anonymity.
These sites carry more risks related to unregulated operations, so appropriate precautions are warranted. However, they can facilitate obtaining certain cryptocurrencies while minimizing traces.
Conclusion
As regulations increase pressure on centralized platforms to implement strict KYC policies, the landscape for trading cryptocurrencies privately continues evolving. While anonymous exchanges still exist, users face more fragmented options with barriers around moving fiat into crypto.
For traders focused exclusively on crypto-to-crypto pairs or maximizing privacy, decentralized platforms like Best Wallet provide viable alternatives with lower risks. And for fast conversions, instant swap services fill a unique role.
Among centralized exchanges still allowing unverified access, MEXC, CoinEx and Phemex offer the best overall packages covering features, coin selection, liquidity and usability.
By evaluating their needs and conduct thorough research, crypto investors can still find ways to access digital asset markets while retaining anonymity in 2023. But the regulatory direction seems destined to restrict future unidentification trading avenues.