20 Best No KYC Crypto Exchanges in 2025

Researching the best no KYC crypto exchanges to use to trade securely and privately? We’ve rounded up 20 of the best non-KYC crypto exchanges in May 2025.

Want to buy, sell, and trade crypto without KYC verification? The list of reputable and secure no KYC crypto exchanges gets smaller each year as government agencies, including tax offices, crack down on crypto exchanges by requiring them to collect personal data and comply with regulatory requirements like issuing 1099 forms.

But some investors still value the anonymity of crypto above all else. That's why the team at Koinly has rounded up the best crypto exchanges without KYC, where there’s either no KYC at all or where KYC is only required over a specific limit. Let’s dive into our round-up of the 20 best no KYC crypto exchanges for 2025.

What is KYC in crypto?

Crypto KYC, or Know Your Customer, is a legal requirement for centralized exchanges to verify the identities of their users. It aims to prevent the use of cryptocurrencies for money laundering, tax evasion, and financing illegal activities.

What are the best no KYC crypto exchanges?

MEXC

MEXC is a global crypto exchange without mandatory KYC. Millions of users use MEXC every day to buy, sell, and trade more than 1600 cryptocurrencies, and the exchange trades hundreds of millions of dollars in crypto daily.

There is a range of product offerings available on MEXC, including spot and P2P trading, futures trading, leveraged ETFs, and savings products to help you easily earn passive income from crypto. As well as this, MEXC has some of the lowest trading fees of any crypto exchange, with considerable discounts for MXC holders.

When it comes to KYC, MEXC does have KYC, but it isn’t mandatory. There are three different account tiers on MEXC: unverified, primary KYC, and verified plus. For unverified users, MEXC states there are withdrawal limits of 10 BTC per 24 hours. It is worth noting, however, that many previously unverified users are now receiving correspondence from MEXC asking them to complete verification or withdraw their funds. As well as this, users in some specific countries may be subject to a 1000 USDT trading limit before KYC verification is requested, and withdrawals may be suspended until this is completed.

Unfortunately, as of late 2023, MEXC isn’t available for US residents. While some may be tempted to use a VPN to get around this, seeing as the platform doesn’t enforce mandatory KYC, MEXC is clear that any users who break its terms and conditions for using their platform may have their account suspended and access to their funds revoked.

CoinEx

CoinEx is a no KYC exchange that serves users globally, including in Europe, North America, and Australasia.

CoinEx offers a huge range of investments and products, with more than 600 cryptocurrencies available for spot trading, margin trading, and futures trading. As well as this, the exchange offers earn products and promotional rewards.

The exchange has relatively low trading fees, with tiered discounts for CET token holders. Those with no CET holdings will pay 0.2%, while those with substantial holdings will pay as little as 0.1%.

Best of all, for crypto traders who value privacy, CoinEx does not require mandatory KYC. While there are withdrawal limits in place, these are relatively high, at $50,000 USD monthly or $10,000 USD daily. It is worth noting that CoinEx states it may request KYC verification at any point, and that users investing in privacy coins must complete KYC verification prior to a deposit or withdrawal.

A word of warning for US investors though, in June 2023, CoinEx agreed to stop onboarding new US clients to its platform imminently, following a large settlement and ban from operating in New York.

dYdX

dYdX is a hybrid decentralized exchange for perpetual trading options for more than 35 cryptocurrencies. While this exchange won’t be for everyone (as you’ll need a firm understanding of leverage and risk before you start playing around with contracts), it’s an excellent option for those looking for more advanced investment opportunities as many services like these are often restricted in countries like the US, UK, Canada and Australia.

All you need to do to get started using dYdX is connect a non-custodial wallet. dYdX supports MetaMask, Trust Wallet, Coinbase Wallet, and many more, including WalletConnect-compatible wallets.

Because of its non-custodial nature, there is no KYC on dYdX. Anyone outside of dYdX’s restricted locations can use the platform immediately with no verification necessary.

However, if you’re in the US or Canada, it’s not good news. dYdX is not available to residents in either country.

Bybit

Bybit is a top 5 crypto exchange in terms of daily trading volume with more than $700 million. There are more than 400 cryptocurrencies available to trade, and all major fiat currencies like USD, EUR, GBP, AUD, and CAD are supported.

Bybit has a range of investment opportunities available to investors, including spot trading, margin trading, leveraged tokens, and derivatives trading in the form of contracts and options. As well as this, there’s a variety of products offering passive income from crypto, including savings accounts, liquidity mining, and ETH 2.0 staking.

However, you won’t be able to access all of these products without completing some KYC. Like many exchanges, Bybit has different individual KYC levels that users can opt to complete, including Non-KYC, Individual KYC Level 1, and Individual KYC Level 2.

For those who haven’t completed any KYC, you won’t be able to access earn products, and your daily withdrawal limit is 20,000 USDT, with no option for fiat withdrawals or deposits. As well as this, other services provided may be restricted until KYC is completed. Bybit is also clear that it may require KYC to approve withdrawal requests at any point.

However, due to the harsh regulatory requirements in the US, Bybit does not serve US residents. While it can be tempting to use a VPN to get around this, your account may be suspended if you’re found to be breaking Bybit’s user terms and conditions.

PrimeXBT

PrimeXBT is a global crypto exchange, as well as offering investors access to other more traditional markets like Forex currencies, commodities, CFDs, and stock indices.

When it comes to crypto, PrimeXBT has a more modest range than some of the other exchanges in our list, including Bitcoin, Ethereum, Litecoin, XRP, and EOS.

When it comes to your personal data, PrimeXBT takes a hard stance of respecting users’ privacy while trading, meaning there’s no mandatory KYC. PrimeXBT does, however, reserve the right at any time to conduct a verification of a client’s identity or source of funds using a Customer Due Diligence procedure. As well as this, there's a 24-hour $20,000 crypto withdrawal limit and a $2,000 deposit limit. Fiat deposits and withdrawals may be restricted.

Bisq

Bisq is a decentralized Bitcoin exchange network that allows peer-to-peer trading using unique, open-source software that connects users who want to trade. All your trades are non-custodial, so Bisq never holds your funds, and all data is transferred using Bisq’s own secure, peer-to-peer network, built on the Tor network.

Bisq acknowledges that most centralized exchanges require users to divulge personal information in order to set up an account, and then, in turn, link users' trading activity to their respective identities. They believe that this practice creates extreme risks for user, so that their personal details and financial information will be stolen, leaked, or otherwise used against their own best interests.

Biqs will never ask you for your personal details, and there are very few limits in place for trades. However, there are trading restrictions in place depending on the age of your account and whether it's signed. These limits start at 0.002 BTC to buy and 0.0624 BTC to sell per transaction. With a SEPA payment method to sign your account, the buy limit increases over time.

HODL HODL

HODL HODL is a non-custodial Bitcoin trading solution that allows users to trade directly with each other without holding user funds. Instead, any funds traded on the platform are locked in multi-sig escrow, minimizing the possibility of theft and reducing trading time for users.

Since the platform doesn’t hold funds, it’s not subject to the complex compliance procedures that most centralized crypto exchanges are, meaning there’s no mandatory KYC on the platform, and HODL HODL will never ask you for your personal information.

As a P2P trading site, there are no withdrawal limits, but there are limits to the number of contracts, active offers, and volume allowed for a single trade.

Uniswap

Uniswap is the largest decentralized exchange, boasting a total value locked (TVL) of more than $4 billion.

Investors can trade Ethereum and ERC-20 tokens at speed with minimal slippage, as well as other native cryptocurrencies and tokens on other blockchains, including BNB Chain, Optimism, and Polygon. As well as this, there are opportunities for earning through liquidity provision on the dex.

As a decentralized exchange, all you need to get started with Uniswap is a non-custodial wallet with funds. There’s no KYC, and at no point will Uniswap ask for your personal details.

Pancakeswap

PancakeSwap is the most popular decentralized exchange for BNB Chain, letting investors trade BNB and other BEP-20 tokens easily. All you need to get started is a non-custodial wallet like Trust Wallet.

As well as trading, there are a number of other investment opportunities on the dex, including liquidity provision, farming, staking, and even a lottery.

As a decentralized exchange, PancakeSwap will never ask you for personal details, and no KYC is necessary.

Simpleswap

SimpleSwap is an instant crypto exchange, offering more than 900 crypto and fiat currencies available to trade. To use SimpleSwap, you don’t even have to register an account, you just set the terms of your trade, enter relevant wallet addresses, and go.

As such, there’s no mandatory KYC for SimpleSwap users, making it an easy option for buying and selling crypto without needing to provide your personal information in the process. As well as this, the interface for the platform is very straightforward, making SimpleSwap a potentially more appealing option than some decentralized exchange that take a little more getting used to.

It's important to note, SimpleSwap does make it clear that, should partners request KYC information, verification may be required.

Changelly

Changelly is a non-custodial crypto exchange that lets investors buy, sell, and trade more than 200 cryptocurrencies, as well as providing earn products, margin trading, and perpetual futures trading.

All you need to use Changelly is a non-custodial wallet like Exodus, Ledger, or MyEtherWallet (and more). 

As a non-custodial platform, Changelly does not enforce KYC processes as standard. However, the platform does reserve the right to request details should a transaction be flagged as suspicious. As well as this, some transactions and products available on Changelly may require KYC if you’re using Changelly to connect to another platform.

Unfortunately for US investors, Changelly does not provide services in the United States.

TradeOgre

TradeOgre is a centralized crypto exchange established in 2018 that allows investors to trade more than 120 cryptocurrencies.

TradeOgre values user privacy and does not have KYC processes in place. As well as this, the exchange has a strong focus on privacy coins like Monero (XMR).

US residents may find the exchange particularly appealing, and it is one of the few exchanges that does not specify that services are restricted for US residents in its terms of service. 

Pionex

Pionex is a popular crypto exchange that specializes in automated trading using free crypto trading bots. The exchange was established in 2019 and lets investors trade more than 330 cryptocurrencies, including with leverage.

Pionex does have KYC, but like many other exchanges, there are different levels of KYC, including Unverified, Level 1, and Level 2. While you’ll be limited in what you can do with an unverified account, the Level 1 KYC asks for minimal personal information - you’ll just need to provide your country and name. With Level 1 KYC, you’ll be able to withdraw USD, trade, and deposit fiat and crypto up to a certain limit. 

Pionex does provide services for US users, but some services are restricted, including leveraged grid bots, margin grid bots, and leveraged tokens. 

ProBit

ProBit is a centralized crypto exchange with more than 400 cryptocurrencies available to buy, sell, and trade. The platform also offers IEOs, staking, and other earn products. 

When it comes to KYC, ProBit has two levels. Level 1 only requires email verification, and you’ll be able to deposit, trade, stake, and withdraw up to $5,000. Level 2 requires identity verification and increases your withdrawal limit to $500,000, as well as allows access to IEOs. ProBit Global does state that for all users, KYC verification may be requested at any time.

For US residents, ProBit services are restricted.

OpenPeer

OpenPeer is a decentralized peer-to-peer exchange built on EVM networks like Ethereum, Binance Smart Chain, and Polygon. You can trade on OpenPeer directly from your self-custody wallet like MetaMask or Trust Wallet. OpenPeer never holds your funds and uses a smart contract-based escrow system. 

KYC is optional and up to both traders if they want to require the other party to KYC through the decentralized identity systems that OpenPeer provides. Most trading on OpenPeer takes place in USDT, and it supports 100+ fiat currencies and payment methods. As a new exchange, liquidity in some trading pairs is limited. OpenPeer will never ask you for your personal details.

OpenPeer is not available to US residents and residents from other sanctioned countries, but the self-custodial nature means their on-chain contracts are all permissionless.

Read next: 10 Best Decentralized Exchanges for 2025

Bitcoin Well

Bitcoin Well is a non-custodial platform that allows users to buy, sell, and use Bitcoin directly, without needing to trust a third party with their funds. The service is geared toward those who prioritize self-custody and transparency, offering both online transactions and physical Bitcoin ATMs across Canada.

Bitcoin Well has tiered KYC. Without email verification, users can purchase gift cards. With email verification, users can sell Bitcoin. Online purchases typically require identity verification, while in-person ATM transactions may allow smaller purchases with minimal or no KYC, depending on local regulations. As a regulated business in Canada, Bitcoin Well complies with FINTRAC guidelines and may request verification at any time.

Bitcoin Well primarily serves Canadian and US users, and some services may not be available to residents of other countries.

BYDFi

BYDFi is a centralized cryptocurrency exchange that offers spot trading, derivatives, and copy trading. The platform supports over 280 cryptocurrencies and caters to both beginners and advanced traders.

When it comes to KYC, BYDFi states it allows users to trade and withdraw up to 5000 USDT per day without completing identity verification. Completing KYC will increase your deposit, withdrawal, and trade limits. It's worth noting, though, BYDFi reserves the right to request KYC verification at any time, and some users have reported this issue upon requesting withdrawals.

BYDFi restricts access to users in certain jurisdictions, including the UK and the US, due to regulatory reasons.

Robosats

RoboSats is a peer-to-peer Bitcoin exchange where users can buy and sell Bitcoin directly with each other using the Lightning Network, all without the need for an account or personal information.

KYC is not required on RoboSats. Instead, users interact with the platform using disposable robot avatars and communicate through Tor or standard browsers. Trades are secured with escrow and reputation scores, and payments are made via Lightning or on-chain Bitcoin transactions. Trades are currently limited to $1,400 per transaction.

RoboSats is accessible globally, including in the US.

Haveno

Haveno is a decentralized, non-custodial, peer-to-peer exchange for trading Monero (XMR) that's accessible globally. Built on the Tor network and leveraging Monero’s privacy features, Haveno enables users to trade without intermediaries or centralized servers.

KYC is not required on Haveno. The platform was created to offer a KYC-free environment for exchanging Monero and fiat currencies. To mitigate fraud risks, Haveno implements account limits for fiat payment methods. New fiat accounts are initially limited to buying up to 3 XMR per trade. This limit can increase via an account signing process over time.

It's worth noting that Haveno is a relatively new exchange, which only launched on mainnet in 2024. Some users have warned of issues, including untested source code and low liquidity. You'll also need a relatively decent technical understanding to install and use the platform.

Peach Bitcoin

Peach Bitcoin is a mobile-only, peer-to-peer Bitcoin exchange. Operating without KYC verification, it enables users to buy and sell Bitcoin directly with many payment methods, including bank transfers, online wallets, and cash. The platform is available in Europe, Latin America, and Africa.

Peach Bitcoin is a non-custodial platform, and the app stores user data locally on the device, and all communications are end-to-end encrypted. Trades are secured through a multi-signature escrow system, and users are rated based on their trading history to prevent fraud. While the platform does not require KYC, it adheres to Swiss regulations, with daily and annual trading limits for users.

Do I have to report my transactions on no KYC crypto exchanges?

Yes. Even if you’re using no KYC crypto exchanges, most tax offices have released clear guidance that crypto is subject to tax, and any attempt to avoid tax on cryptocurrency is tax evasion and a criminal offense with steep penalties.

Tax offices around the world are cracking down on investors they believe may be avoiding crypto taxes, with dedicated operations to match wallet addresses with identities. So even if you’ve got away with not paying tax on your crypto for now, it’s inevitable that your tax office will catch up with you eventually.

Read next: How to (legally!) avoid tax on your crypto.

How Koinly can help

Koinly crypto tax calculator makes it easy to do your crypto taxes, whichever exchange, wallet, or blockchain you’re using. We support all of the exchanges mentioned above, as well as hundreds more.

All you need to do is connect your exchange with Koinly using API or by importing a CSV file of your transaction history.

Once you’ve done this, you’ll be able to find all the information you need about your crypto capital gains, losses, income, and expenses under your tax summary. You can also download specific tax reports based on your location, including IRS, ATO, HMRC, and CRA reports (and many more).