13 Best Cryptocurrency Exchanges in 2023 That Require No KYC
Users can buy, sell, and trade cryptocurrencies on non-KYC cryptocurrency exchanges without undergoing identity verification procedures. They are particularly appealing to people who value their privacy and want to remain anonymous when transacting in cryptocurrencies because of this distinctive feature.
Here’s our top selection of crypto exchanges without KYC that will help preserve your anonymity when trading cryptocurrency.
What is KYC?
Know Your Customer, or KYC, is an acronym. It is a procedure carried out by financial services that deal with customer fiat payments.
During the onboarding process or on occasion, crypto businesses known as VASPs (Virtual Asset Service Providers) are required to verify the identities of their customers. This is done as part of the due diligence process and to make sure that laws, especially anti-money laundering (AML) laws, are followed.
Clients are required to provide a certain minimum amount of information during onboarding, such as their full name, residential address, and date of birth. The information is then compared by the platform to the client’s government-issued documents. Contingent upon the ward, the stage may likewise demand extra private information, for example, spot of birth, ethnicity, charge code, wallet locations, and exchange hashes.
The KYC process is carried out by a lot of crypto services using specialized third-party solutions. Even though KYC is a great tool for preventing money laundering, it also affects everyday users who want to remain anonymous.
The other side of the coin when it comes to KYC is the scope of the criminal problem in crypto, as shown by this Chainalysis crime report.
As a whole, this report serves as a support tool for future regulations. Additionally, it emphasizes the significance of users being aware of bad actors: Instead of completely stopping service use, sanctions against decentralized services serve more to discourage its use.
What are the best no-KYC crypto exchanges?
1 Gate.io
After Binance and Bybit switched to full verification, Gate.io has emerged as the most popular non-KYC crypto exchange. The platform offers a wide range of additional features, including staking, savings accounts, NFTs, and more, as well as deep liquidity on over 1,400 crypto assets in the spot and futures markets. Gate.io’s transparent proof of reserves, demonstrating that they always hold users’ funds 1:1 on the exchange, is another reason why it is the preferred destination.
More than 13 million people rely on their platform, which is accessible in more than 25 languages and in more than 180 nations. Gate.io allows investors to join in a matter of seconds with an email address and password or MetaMask account, and there was no personal identity verification required.
Fees: Free stores and withdrawals and a 0.1% expense on spot exchanging.
Assets Supported by: Trade 1,200+ Digital currencies.
Methods of Payment: Cryptographic forms of money, Bank Move, Credit/Charge Card, PayPal, Insightful, Apple Pay, Google Pay + 50 more.
Options for Customer Support: Live chat, email, and social media, such as Twitter, Telegram, and Discord, are all available to customers around the clock. Upheld in north of 180 nations.
2. KuCoin
KuCoin is the second most secure Non-KYC trading platform and the next best option for users who want to avoid KYC. Despite the fact that it has been in operation since 2017 and has never been questioned, it does not provide evidence of reserves. In 2020, hackers stole $250 million from users’ funds, but KuCoin refunded all customers with the exchange’s assets after the attack. It has since put in place a number of security measures to stop this from happening again. Visit our KuCoin Review to learn more about the exchange.
Fees: Free deposits and withdrawals, as well as a spot trading fee of 0.2 percent.
Assets Supported by: Trade more than 600 cryptocurrencies.
Methods of Payment: Advcash, Wise, Zelle, bank transfer, credit/debit card, and more than 150 others
Options for Customer Support: every minute of every day client care through live talk, email, and online entertainment including Twitter, Message and Facebook.
Accessible Nations: available in every nation on earth.
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3. Bitget
Another well-liked centralized exchange that does not require identity verification and is available in 24 languages is Bitget. It is notable for its Duplicate Exchanging highlight, which permits clients to emulate the exchanges of fruitful financial backers on Bitget. Spot Copy Trading, Future Copy Trading, and Strategy Copy Trading are the three types of this feature. In addition, the platform provides seven different yield-earning options, including single- and double-sided staking, in addition to multiple trading types (Spot, Futures, and Margin).
Fees: No charges to store or pull out assets from Bitget and 0.1% on Spot exchanging.
Assets Supported by: Trade more than 400 cryptocurrencies.
Methods of Payment: Bank Move, SEPA, PIX, Quick Installment, and Credit/Charge Card.
Options for Customer Support: Support is not available round-the-clock, but you can contact customer service via email and Telegram.
Accessible Nations: Except for China, Japan, Singapore, North Korea, Iran, Syria, Afghanistan, Cuba, and the United States of America, Bitget is available everywhere.
4. Phemex
A group of Morgan Stanley executives launched the cryptocurrency exchange known as Phemex in 2019. The stage is situated in Singapore and is known for its high velocity exchanging and high level elements. It provides a variety of trading instruments, including futures and spot trading with leverage of up to 100 times. The platform’s streamlined user interface and comprehensive trading tools make it suitable for both novice and experienced traders.
Fees: While withdrawals cost $30 per transaction, deposits are free. Supported Assets: The spot trading fee starts at 2% for traders trading less than $500 and drops to 0.08% for traders trading more than $500,000. Trade more than 200 cryptocurrencies.
Methods of Payment: Bank Transfer, Credit/Debit Card, ACH, SWIFT, SEPA, and FPS
Options for Customer Support: Live chat, email, and social media such as Telegram, Twitter, and Discord provide 24/7 customer support.
Accessible Nations: Visit Phemex Terms and Conditions Section 36 to learn more about the restricted countries, which are supported in 180 countries.
5. UniSwap
UniSwap is an Ethereum blockchain-based, decentralized cryptocurrency exchange. It is made to let people trade Crypto without having to use any middlemen or centralized exchanges. Because UniSwap uses an automated market maker system, smart contracts rather than order books facilitate trades. This makes it possible for users to directly trade cryptocurrencies with one another, with prices set by an algorithm that takes into account the supply and demand for each cryptocurrency. One drawback is that deposits in fiat currencies are not supported.
Fees: A gas (network transaction) fee of 0.3 percent and a swap fee that varies according to the size of the trade and the network’s congestion at the time of transfer
Assets Supported by: Trade more than 920 cryptocurrencies.
Methods of Payment: There are no supported fiat currencies.
Options for Customer Support: On UniSwap, there is a Request Form and social media platforms like Twitter and Discord, but there is no 24/7 support.
Accessible Nations: Except for Belarus, Cuba, Iran, Iraq, Côte d’Ivoire, Liberia, North Korea, Sudan, Syria, and Zimbabwe, it is available in all other nations.
What is a no KYC exchange?
A cryptocurrency trading platform known as a “no-KYC exchange” lets users buy, sell, and trade digital assets without having to provide personal information like their name, address, or government-issued identification. Compared to full KYC procedures, which typically require identity verification for enhanced security and regulatory compliance, this type of exchange offers greater anonymity.
