If you prioritize privacy and prefer not to share personal information when trading, there are plenty of great exchanges that don’t require KYC (Know Your Customer) verification. We’ve put together a list of the top 10 no-KYC exchanges, featuring a balanced mix of both DEXs and CEXs. Whether you're a beginner or an advanced trader, you'll find options suited to your needs and preferences.
<figure class="block-table">
<table>
<tr>
<th>Name</th>
<th>Type</th>
<th>KYC</th>
<th>Location Restrictions</th>
<th>Crypto</th>
</tr>
<tr>
<td>Uniswap</td>
<td>DEX</td>
<td>None</td>
<td>🇧🇾 Belarus, 🇨🇺 Cuba, 🇮🇷 Iran, etc.</td>
<td>900+</td>
</tr>
<tr>
<td>Pancakeswap</td>
<td>DEX</td>
<td>None</td>
<td>None</td>
<td>3500+</td>
</tr>
<tr>
<td>BingX</td>
<td>CEX</td>
<td>Tiered</td>
<td>🇺🇸 USA, 🇬🇧 UK, 🇨🇦 Canada, 🇳🇱 Netherlands, etc.</td>
<td>800+</td>
</tr>
<tr>
<td>CoinEx</td>
<td>CEX</td>
<td>Tiered</td>
<td>🇺🇸 USA, 🇨🇦 Alberta (Canada)</td>
<td>700+</td>
</tr>
<tr>
<td>PrimeXBT</td>
<td>CEX</td>
<td>Tiered</td>
<td>🇺🇸 USA, 🇯🇵 Japan</td>
<td>36+</td>
</tr>
<tr>
<td>Hodl Hodl</td>
<td>DEX</td>
<td>None</td>
<td>🇺🇸 USA, UN-embargoed countries</td>
<td>1</td>
</tr>
<tr>
<td>Margex</td>
<td>CEX</td>
<td>None</td>
<td>🇺🇸 USA, 🇨🇦 Canada, 🇭🇰 Hong Kong, etc.</td>
<td>50+</td>
</tr>
<tr>
<td>SimpleSwap</td>
<td>DEX</td>
<td>None</td>
<td>🇺🇸 USA</td>
<td>500+</td>
</tr>
<tr>
<td>dYdX</td>
<td>DEX</td>
<td>None</td>
<td>🇺🇸 USA, 🇨🇦 Canada</td>
<td>124+</td>
</tr>
<tr>
<td>ProBit</td>
<td>CEX</td>
<td>Tiered</td>
<td>🇺🇸 USA, 🇸🇬 Singapore, etc.</td>
<td>600+</td>
</tr>
</table>
</figure>
*These exchanges are not ranked in any specific order, as each offers unique advantages and drawbacks, which we’ll outline below. In choosing our top 10 no KYC exchanges, we considered customer reviews, a balanced mix of CEXs and DEXs, and a variety of features to meet the needs of different types of traders.
What is a No KYC Exchange?
KYC, or "Know Your Customer," is a process used by crypto exchanges to verify the identity of their users. This involves submitting personal documents, such as IDs, photos, and addresses, to prevent money laundering, terrorist financing, and other illegal activities. KYC adds an extra layer of security and helps reduce fraud on platforms.
However, there are exchanges that don’t collect KYC data at all. Many of these are decentralized exchanges (DEXs) that don’t hold user funds, allowing them to operate without requiring KYC verification.
Some exchanges offer tiered KYC, allowing users to trade without full verification but with limited features, such as withdrawal caps. Full KYC is required to unlock all platform features.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">Blockpit understands that privacy is important to users, but advises against using no KYC exchanges for tax evasion. As a no KYC service itself, Blockpit generates tax reports for these exchanges, ensuring compliance while maintaining privacy.</p></div></div></div>
How Safe are No KYC Exchanges?
No KYC centralized exchanges (CEXs) are often unregulated, which poses certain risks. The lack of regulatory oversight exposes users to a higher risk of fraud, scams, cyberattacks, and sudden crackdowns by authorities. Without regulation, users have limited protection or recourse if the platform is compromised or shuts down.
Decentralized exchanges (DEXs), on the other hand, put control in the hands of the user, as users hold their own private keys and funds. Since DEXs don’t custody user assets, they are generally safer from hacks and theft, but this also means that users bear full responsibility for securing their funds and keys.
Uniswap
Uniswap is a decentralized exchange (DEX) that functions as an automated market maker, enabling peer-to-peer cryptocurrency transactions on the Ethereum blockchain.
KYC
No mandatory KYC is required, but an optional KYC verification hook is available, allowing liquidity providers the choice of whether to enable it or not.
Product Offering and Functionality
Uniswap supports over 900 coins, including Ethereum and various ERC20 tokens. It operates as an automated market maker, allowing users to swap cryptocurrencies and provide liquidity directly on the Ethereum blockchain. The platform’s native token, UNI, is used for protocol governance, giving token holders the ability to vote on key protocol updates and improvements. Users can stake their digital assets as liquidity, earning UNI tokens as rewards for contributing to the platform’s liquidity pools.
Security and Regulation
While Uniswap is based in New York, it operates without a financial license. The platform minimizes risk by ensuring that all trades occur directly from users’ wallets, meaning funds are never transferred to a third party or custodian, reducing counterparty risk. The Uniswap Wallet code has been independently audited by Trail of Bits to identify and address any vulnerabilities. Additionally, Uniswap’s code is open source, allowing the community and developers to review it for transparency and security.
Service
Uniswap offers user support through a ticket system and an active Discord server, providing a space for users to ask questions, report issues, and engage with the community.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">Uniswap is a well-established DEX on the Ethereum blockchain, offering extensive features and supported by a large, active community—perfect for users looking to trade a variety of assets on a trusted platform.</p></div></div></div>
Pancakeswap
Pancakeswap is a decentralized exchange (DEX) built on the Binance Smart Chain, enabling users to trade cryptocurrencies and NFTs seamlessly.
KYC
None required.
Product Offering and Functionality
PancakeSwap, a DEX on the BNB blockchain, supports trading over 3,500 cryptocurrencies and NFTs. It offers features like swaps, liquidity mining, perpetual swaps, and staking. Crypto can only be bought using other cryptocurrencies, as fiat purchases are not supported.
Security and Regulation
PancakeSwap operates without a financial license and is unregulated. The platform undergoes third-party audits, uses reliable oracles, and has bug bounty programs for security. As with all decentralized marketplaces, users manage their own security by connecting their wallets, secured with a seed phrase. It's crucial for users to safely store this key, as losing it means there’s no way to recover access or funds.
Service
PancakeSwap does not provide direct support but has an active community accessible via platforms like Discord for assistance and interaction.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">PancakeSwap is a popular DEX for users with BEP-20 tokens who prefer to keep their trading activities on Binance Smart Chain. Similar to Uniswap, it’s best suited for more experienced users looking for a robust and familiar trading platform.</p></div></div></div>
BingX
BingX, founded in 2018, is a unique platform that combines social networking with trading, allowing users to follow and copy trades from others in the community.
KYC
Tiered system: Without completing KYC, users face a 24-hour withdrawal limit of 20,000 USDT and cannot access P2P trading or participate in the launchpad.
Product Offering and Functionality
BingX offers a wide range of features including copy trading, cryptocurrency swaps, derivatives trading, and the use of trading bots. Users can trade futures, forex, indices, and commodities, along with engaging in NFT trading and DeFi options. Payment methods include credit cards, Apple Pay, and various cryptocurrencies like Bitcoin.
Fees vary depending on the coin or transaction, but are generally on the higher side. Current fee information is available on their website. VIP users benefit from lower fees and additional privileges.
Security and Regulation
BingX EU UAB is a registered financial service company in Lithuania, part of the EU, and is regulated by the Financial Crime Investigation Service (FSIC) as a digital currency exchange. The platform supports Two-Factor Authentication (2FA) for enhanced account security.
Service
BingX provides a help section on their homepage for general inquiries and offers support via a contact form for more specific issues.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">BingX is a secure and regulated platform, ideal for users interested in copy trading. Its broad feature set and ease of use make it a solid option for traders at all levels.</p></div></div></div>
CoinEx
CoinEx, a centralized exchange (CEX) founded in 2017, boasts a high-performance system capable of handling up to 10,000 transactions per second.
KYC
Tiered system: Without KYC, users have a 24-hour withdrawal limit of 10,000$ and a 30-day limit of 50,000$.
Product Offering and Functionality
CoinEx supports over 700 cryptocurrencies and offers various trading options, including spot, margin, futures, and perpetual contracts with up to 100x leverage, catering to experienced traders. The fee structure is based on VIP and Market Making levels, which depend on CET holdings and trading volume. CoinEx also provides a user-friendly mobile app available on Google Play and the App Store, allowing users to trade and manage their investments on the go.
Security and Regulation
Registered in Samoa, CoinEx ensures platform security through multiple layers: platform safeguard protection, personal security settings, and general security principles. It guarantees 100% reserves, uses a high-speed matching engine, adopts HTTPS for secure connections, and offers features like capital protection, real-time alerts for asset changes, multiple withdrawal confirmations, and two-factor authentication (2FA).
Service
CoinEx offers 24/7 customer support via email, a ticketing system, and a chatbot. It maintains a strong presence on social media, providing updates and support through platforms like Twitter, Facebook, and Telegram.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">CoinEx is a versatile platform offering a wide range of cryptocurrencies and features tailored to suit various types of traders.</p></div></div></div>
PrimeXBT
PrimeXBT, an unregulated CFD broker founded in 2018, offers leveraged trading options for major cryptocurrencies, allowing traders to amplify their gains.
KYC
Tiered system: Without KYC, there is a 24-hour withdrawal limit of 20,000$ for crypto and a 2,000$ deposit limit for fiat and alternative methods.
Product Offering and Functionality
PrimeXBT offers over 36 cryptocurrencies and CFDs (Contracts for Difference) on various assets, including cryptocurrencies, forex, commodities, and stock indices. This allows users to trade BTC and other assets with leverage, significantly increasing potential gains. The platform also provides yield farming, trading contests, and the ability to buy cryptocurrencies directly through partnerships with Mycoinify and Paxful.
Fees range from 0.001% to 0.05% for margin trading, with similar rates for copy trading.
Security and Regulation
PrimeXBT operates under PrimeXBT Trading Services Ltd, registered in Saint Lucia. As a member of the Financial Commission, PrimeXBT offers an additional layer of security, including access to a compensation fund of 20,000$ per complaint. The platform uses advanced security measures such as hardware security modules (HSMs) rated FIPS PUB 140-2 Level 3 or higher, cold storage with multisignature technology, 2FA, withdrawal address whitelisting, and encrypted personal data.
Service
Support is accessible through a help center, live chat available in both German and English, and via email.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">PrimeXBT is ideal for users seeking high leverage trading and a diverse range of asset classes.</p></div></div></div>
Hodl Hodl
Hodl Hodl is a decentralized peer-to-peer (P2P) exchange exclusively for trading Bitcoin (BTC).
KYC
None required.
Product Offering and Functionality
Hodl Hodl is a DEX specializing in peer-to-peer Bitcoin (BTC) trading only. The platform offers low maker and taker fees and supports a self-custodial wallet system. With a wide range of supported countries, currencies, and payment methods, users can easily find options that suit their needs. However, Hodl Hodl does not provide a desktop or mobile app.
Security and Regulation
Hodl Hodl operates without a license or regulation. The platform prioritizes user privacy and security, processing no private information beyond a valid email and password for account setup. Funds are kept secure through a multisig escrow system, requiring two out of three keys to release BTC during trades. This ensures that even if the platform is compromised, user funds remain unaffected.
Service
Support is available via email and through the community on Telegram. The platform is ideal for privacy-conscious users seeking a beginner-friendly interface for BTC trading.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">Hodl Hodl is ideal for users who prioritize privacy, prefer a beginner-friendly interface, and are solely interested in trading Bitcoin.</p></div></div></div>
Margex
Margex is a centralized exchange (CEX) founded in 2019, offering a crypto derivatives platform known for its fast order execution.
KYC
Margex does not require KYC for crypto-only funding, but KYC is necessary for fiat deposits.
Product Offering and Functionality
Margex is a custodial crypto derivatives platform supporting over 50 cryptocurrencies. It offers features such as copy trading, leverage trading, and perpetual futures contracts, as well as staking options. However, it does not support spot trading.
Security and Regulation
Margex is not licensed by any major regulatory authority. The platform ensures security by storing 100% of assets in multisignature offline cold storage. It implements real-time monitoring and alerts for all asset movements and uses an access segregation system to prevent internal fraud. The elastic server infrastructure allows for instant scaling and fast order matching, even during high market volatility. Additionally, Margex has a robust DDoS protection system and trading anti-denial service protection to maintain platform stability and prevent unexpected errors.
Service
Margex offers 24/7 customer support via live chat and email.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">Margex is designed for experienced traders interested in perpetual futures trading but also provides copy trading options for beginners.</p></div></div></div>
SimpleSwap
SimpleSwap, a DEX founded in 2018, is a swap platform that allows users to trade digital assets securely with reasonable fees.
KYC
None required, unless their system or that of their partners flags the transaction as suspicious.
Product Offering and Functionality
SimpleSwap is a DEX offering swaps for over 500 cryptocurrencies with a self-custodial wallet setup. Users can choose between fixed and floating rates, and the platform is accessible via a web interface, as well as Android and iOS mobile apps.
Security and Regulation
SimpleSwap operates without regulation, but adheres to security best practices like HTTPS and AES encryption. Being a non-custodial platform, it never holds users' funds, reducing risk. To date, there have been no reported security breaches.
Service
The platform provides 24/7 support through live chat and is accessible via Twitter and Telegram for updates and assistance.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">While not suitable for day traders due to on-chain transaction settlements, SimpleSwap offers a convenient and user-friendly experience, making it an excellent choice for hodlers and swing and position traders.</p></div></div></div>
dYdX
dYdX is a DEX launched in 2017, specifically designed for power traders seeking advanced trading tools and features.
KYC
None required.
Product Offering and Functionality
dYdX is a DEX designed for advanced traders, offering 124+ cryptocurrencies with features like up to 25x leverage on perpetual futures contracts, margin trading, lending, borrowing, and governance services through its native dYdX token. The platform does not support spot trading but provides competitive low trading fees. It features a fully decentralized order book and matching engine and is accessible via a mobile app for iOS users.
Security and Regulation
dYdX is not registered or licensed by any regulatory authority. It conducts independent security audits and offers a bug bounty program to identify and address vulnerabilities.
Service
Support is available through a help center and a chatbot.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">dYdX is ideal for those interested in margin and perpetual trading, offering powerful tools for experienced traders.</p></div></div></div>
ProBit
ProBit is a South Korean CEX, founded in 2018, known for its extensive offerings in Initial Exchange Offerings (IEOs).
KYC
Tiered system: Without KYC, the withdrawal limit is 5,000$ per 24 hours.
Product Offering and Functionality
ProBit, a South Korean CEX, supports over 600 cryptocurrencies. While fiat deposits are limited to Korean Won, the platform accepts a wide range of cryptocurrencies. Known for its low fees and staking opportunities with its utility token, PROB, ProBit is also one of the largest platforms for Initial Exchange Offerings (IEOs).
Security and Regulation
ProBit stores over 95% of its crypto assets in cold storage, though it's unclear if multi-signature (MultiSig) protection is in place. The platform supports FIDO U2F hardware security keys and two-factor authentication (2FA) via Google Authenticator for additional protection. However, there are reports online from users facing issues with fund withdrawals and a perceived lack of cooperation from the exchange, which raises concerns about reliability.
Service
Support is available in both German and English, and the FAQ page is translated into German. However, ProBit does not offer live chat or phone support; customers must use the contact form for inquiries. Negative feedback regarding support response times and resolution can be found online.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">ProBit offers a comprehensive suite of tools for both tactical day traders and long-term investors.</p></div></div></div>
How to Choose the Best Exchange for You
Every investor has a unique approach and priorities when selecting a crypto exchange, so it's crucial to understand your own goals and requirements.
Are you seeking a beginner-friendly platform for simple trades, or do you need advanced features for experienced trading? Is your focus solely on Bitcoin, or are you interested in accessing a wide range of cryptocurrencies? If you prefer to keep full control of your funds, a DEX might be the right choice. Alternatively, if you’re looking for more support and convenience, a CEX may better suit your needs.
We’ve reviewed the top 10 crypto exchanges, emphasizing key features and benefits. Concentrate on what matters most to you and test any exchange thoroughly before making significant transactions. It’s also perfectly fine to use multiple exchanges, so you don’t have to limit yourself to just one!
Do I Need to Report Taxes if I Only Use No KYC Crypto Exchanges?
Yes. Even if you use no KYC exchanges, tax authorities clearly state that cryptocurrency is taxable. Avoiding tax is considered tax evasion and is a criminal offense with severe penalties. Tax offices globally are actively identifying investors by matching wallet addresses to identities, so it's only a matter of time before non-compliance is detected.
Simplify Your Tax Reporting with Blockpit
Have you found the right exchange? Now, it’s time to organize your transaction history for future tax reporting. Blockpit has you covered. With our portfolio tracker and crypto tax tool, you can easily import all transactions from the exchanges mentioned in this article—automatically via API or CSV file, completely free!
Get detailed instructions on how to import your data from Uniswap, Pancakeswap, BingX, CoinEx, PrimeXBT, Hodl Hodl, Margex, SimpleSwap, dYdX and ProBit by following the links provided.
<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="lazy" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto.</p></div></div></div>