Best No KYC Crypto Exchanges May 2024

Zac McClure
ByZac McClure, MBAReviewed byAlex MilesUpdated on May 16, 2024 · minute read
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  • The best no KYC crypto exchanges include Changelly, MexC, and Phemex.

  • Note that we strongly recommend you prioritize safety when considering centralized, no KYC crypto exchange. Look for no KYC crypto exchanges with a strong security record and measures in place to protect your assets and data.

Best no KYC crypto exchange of 2024

Our crypto tax professionals have researched and identified the best no KYC crypto exchanges available to buy crypto with no kyc.

See our choices of the best crypto exchanges and apps generally for alternatives. Centralized exchanges often offer no KYC as a starter option, with increasing levels of verification to unlock additional features and higher withdrawal limits.

Here are our top three choices for those who opt to use a centralized, no KYC crypto exchange, followed by a complete list of our top picks with reviews (including a P2P Bitcoin trading option).

Changelly

Changelly

Best no KYC crypto exchange for beginners

MexC

MexC

Best non KYC crypto exchange for trading options

Phemex

Phemex

Best no KYC crypto exchange for international users

Best no KYC crypto exchange reviews

Here are our crypto tax professionals’ picks of the best no KYC crypto exchanges available on the market today. Note that these exchanges may or may not be available or legal to use in a given region, and again, we generally do not recommend centralized no KYC exchanges. 

Changelly

Best no KYC crypto exchange for beginners

Changelly, established in 2016 and headquartered in the Czech Republic, offers an easy entry point for beginners. Users can begin trading by simply providing their email address. While Changelly permits basic trading with just an email, more advanced features, such as fiat-to-crypto trading, may require additional information and KYC verification.

-  Pros & Cons

Pros

  • Easy signup with just an email

  • Access to fiat-to-crypto trading

Cons

  • KYC required for advanced features

-  Why our experts picked it

Changelly's straightforward email-based signup process makes it convenient for beginners to start trading cryptocurrencies.

Hodl Hodl

Best no KYC crypto exchange for P2P Bitcoin

Hodl Hodl stands out as a unique P2P Bitcoin trading platform. Unlike many other exchanges, Hodl Hodl doesn't custody customer funds; instead, it uses a secure escrow system for Bitcoin transactions. Importantly, Hodl Hodl doesn't demand KYC verification at this time, making it an appealing choice for those valuing privacy and security in Bitcoin trading.

-  Pros & Cons

Pros

  • P2P trading with escrow

  • No KYC required

Cons

  • Limited to Bitcoin trading

-  Why our experts picked it

Hodl Hodl's focus on security through escrow and its no-KYC policy make it a unique and attractive option for Bitcoin trading.

MexC

Best non KYC crypto exchange for trading options

MexC, founded in 2018 and headquartered in Seychelles, offers users initial access to its platform without requiring KYC. However, it's worth noting that KYC becomes mandatory for specific transaction types, including crypto-to-crypto and derivatives trades. MexC aims to strike a balance between flexibility for crypto traders and adherence to necessary regulatory requirements.

-  Pros & Cons

Pros

  • Initial access without KYC

  • Variety of trading options

Cons

  • KYC required for certain transactions

  • Not available to US users

-  Why our experts picked it

We appreciate MexC for allowing users to begin trading without immediately requiring KYC, offering flexibility to crypto traders and easy access for those new to crypto, with a wide range of trading options.

Phemex

Best no KYC crypto exchange for international users

Phemex takes a top spot for those seeking anonymity in crypto trading. This exchange welcomes traders without the need for KYC verification. Phemex also features a high daily withdrawal limit for unverified clients and maintains a robust security record with no reported breaches. Unfortunately Phemex is unavailable in the US, Canada, Hong Kong, South Korea, and several other regions.

-  Pros & Cons

Pros

  • No KYC for deposits, withdrawals, or trading

  • High daily withdrawal limit for unverified clients

  • Strong security record

Cons

  • No DEX integration

  • No fiat-backed stablecoin pairs

  • Limited order types

  • Unavailable in the US, Canada, Hong Kong, South Korea, and several other regions.

-  Why our experts picked it

Phemex's commitment to anonymity and hassle-free trading without KYC verification, combined with its strong security measures and broad accessibility, made it a top pick. The platform has maintained a clean security record since its inception.

ProBit

Best no KYC crypto exchange for flexible verification

ProBit, founded in 2018 and headquartered in Seychelles, caters to both beginners and experienced traders. It allows users to start trading cryptocurrencies with email verification alone, offering a lower withdrawal limit for accounts without full KYC. Those who complete the KYC process will have a higher withdrawal limit. ProBit's flexibility and extensive range of cryptocurrencies make it a solid choice for users looking for various options in the crypto market.

-  Pros & Cons

Pros

  • Multiple verification options

  • Access to a wide range of cryptocurrencies

Cons

  • Lower withdrawal limit for email verification

-  Why our experts picked it

ProBit's flexible verification options make it suitable for both beginners and experienced traders looking for a range of cryptocurrency options. It’s a top crypto exchange without KYC available now.

TradeOgre

Best no KYC crypto exchange for privacy coins

TradeOgre, one of the original cryptocurrency exchanges, emphasizes privacy and operates without collecting KYC information from customers. While it offers access to various cryptocurrencies, including privacy-focused coins like Monero, TradeOgre is primarily focused on crypto trading. It appeals to users seeking a more private trading experience within the crypto space.

-  Pros & Cons

Pros

  • Access to various cryptocurrencies

  • Emphasis on privacy coins

  • No KYC

Cons

  • Limited to crypto trading

-  Why our experts picked it

TradeOgre's support for privacy-focused coins and its no-KYC policy cater to users seeking a more private trading experience

What is the safest no KYC crypto exchange overall?

In our quest to buy crypto with no KYC, Phemex stands out as a top contender and is one of the best crypto exchanges without KYC available to users. Phemex features strong security measures and a clean security record.

It allows traders worldwide to trade without KYC verification, making it accessible to a broad audience while maintaining a high daily withdrawal limit for unverified users. 

Phemex's commitment to anonymity and strong security makes it a standout choice for crypto users who prioritize safety. However, Phemex is unavailable in the US, Canada, Hong Kong, South Korea, and several other regions.

Changelly notably accepts users from around the world as an alternative to Phemex for users in regions where Phemex is unavailable.

Which non KYC crypto exchange has the lowest fees?

When it comes to finding a no KYC crypto exchange with the lowest fees, Changelly is a top pick. Changelly's straightforward email-based signup process caters to beginners, making it an excellent option for those who want to get started in the crypto world without much hassle. 

While KYC is required for advanced features, the platform offers access to fiat-to-crypto trading, allowing users to convert fiat currencies into cryptocurrencies. While the focus here is on user-friendliness, consider that lower fees often come with certain trade-offs in terms of features and services.

Looking to calculate your crypto profit? Try our free crypto profit calculator.

What is the best crypto exchange without KYC for beginners?

For beginners venturing into the world of cryptocurrency trading without the need for KYC verification, Changelly stands out as a top choice. Its easy signup process, requiring only an email address, makes it incredibly accessible for newcomers to the crypto space. Changelly allows beginners to dip their toes into crypto trading.

While KYC becomes necessary for advanced features, Changelly's simplicity and fiat-to-crypto trading options make it a useful starting point for those new to cryptocurrency. Changelly is also available to users globally, unlike Phemex.

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

Yes, the IRS requires that all cryptocurrency transactions, including those on no KYC platforms, are subject to tax reporting. Anonymity on these exchanges does not exempt users from tax obligations. Failure to report can result in penalties or legal consequences.

To comply, users should keep detailed records of all transactions, noting dates, amounts, and cryptocurrency types. Accurate record-keeping ensures proper tax reporting and helps avoid IRS issues.

How TokenTax can help

TokenTax simplifies crypto tax reporting by offering comprehensive services that track and organize all your cryptocurrency transactions. Our robust software integrates with various exchanges, including no KYC platforms, to automatically import and categorize your trades.

Final verdict about the best no KYC crypto exchange in 2024

Phemex is our top recommendation for the best no KYC crypto exchange. It offers a combination of anonymity, accessibility for traders worldwide, and strong security measures and stands out as our pick for the best crypto exchange without KYC.

Phemex's daily withdrawal limit for unverified users, impressive security record, and broad accessibility make it a standout choice.

However, it's essential to consider individual preferences and needs when selecting a no KYC exchange, as each option has its unique strengths and trade-offs. For users in regions where Phemex is unavailable, we recommend Changelly as an alternative.

Schedule a FREE crypto tax consultation

Best no KYC crypto exchanges FAQs

Here are answers to frequently asked questions about the best no KYC crypto exchanges, crypto exchanges without KYC, and more.

Which is the best crypto exchange without ID verification

The best crypto exchange without ID verification can vary depending on your needs and preferences. Changelly, Phemex, and MexC are top choices for those seeking exchanges without ID verification requirements. These exchanges offer a range of features and services, making them suitable for different trading styles and goals. 

What is a crypto exchange that has no KYC?

A no KYC crypto exchange permits users to transact without undergoing KYC verification. KYC stands for "know your customer," which refers to a set of standards and regulations enabling financial institutions to verify the identity of their customers. KYC laws exist to ensure transparency and security within the financial sector and compliance with tax laws.

What are the different types of crypto exchanges?

There are primarily two categories of cryptocurrency exchanges: Centralized Exchanges (CEXs) and Decentralized Exchanges (DEXs).

CEXs operate much like traditional stock exchanges and brokerages. They are subject to regulation by a single governing authority that oversees all transactions and user accounts.

DEXs function on a distributed ledger infrastructure and enable trading without central authority. Users maintain full control over their digital assets and keys, ensuring heightened security and privacy.

What are the downsides of having a crypto exchange without ID verification

Neglecting or underestimating the importance of regulatory compliance can be a significant downside for no KYC exchanges. Crypto exchanges must understand and adhere to legal and regulatory requirements in their jurisdictions. 

Can I use crypto without KYC?

Yes, it is possible to use crypto without KYC. We do not, however, recommend it. Trading on a non-KYC exchange carries several risks, including fees, lack of liquidity, and security issues.

Which crypto payment gateway has no KYC?

Blockonomics is a crypto payment gateway that supports Bitcoin Cash and accepts Bitcoin payments with a decentralized exchange model. You can set this up in under five minutes and provide a checkout experience integrated with your site's design.

Is it illegal to buy crypto without KYC?

The legality of buying crypto without KYC depends on the jurisdiction and local regulations. These regulations can change year over year, as well. It's crucial to stay aware of and comply with the legal requirements in your location.

What is the best crypto app without verification?

Phemex and Changelly are our top recommendations as the best crypto apps without verification requirements. Phemex combines anonymity, global accessibility, and thorough security with a substantial daily withdrawal limit for unverified users, while Changelly offers a reliable platform globally.

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TokenTax reviews take an unbiased approach to our recommendations. When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence.

Zac McClure
Zac McClureCo-Founder & CEO at TokenTax
Zac co-founded TokenTax after his career in international finance and accounting at JPMorgan, Imprint Capital and Bain. He has worked in more than half-dozen countries and received his MBA from the UPenn Wharton School.
Alex Miles
Reviewed byAlex MilesCo-Founder at TokenTax
Prior to TokenTax, Alex worked as a Product Designer at Dropbox and before that Readmill (acquired by Dropbox). He holds a BS in Digital Information Design - Interactive Media from Winthrop University.

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